/biz/ - Business & Finance

>>16773319
VITALINK FTW

I mean you really just keep on winning

>>16773319
This is literally nothing. Just twitter faggots trying to get shill their bags. Go build something you fucking losers.

>>16773333
>digits
checked

pee pee poo poo

>>16773333
Checked

>>16773319
this article is so fucking shit
>article about zk-rollups
>some faggot with chainlink in username asks a general question about zkrollups
>vitalik answers yes
>muh chainlink

>>16773319
why also Loopspring?

>>16773319
>source: some blog

>>16773706
>some faggot with chainlink in username asks a general question about zkrollups
lmao, Vitalik is the one who brought up zkrollups and Loopring.

>>16773333
Witnessed.

>>16773319
Vitalik has bent the knee

>>16773716
That's Vitalik talking you dope.

>>16773343
>>16773706
Absolutely this and I’m a Chainlink OG. Classic garbage crypto “news” site desperately trying to shill its own investments. I might actually swing for the first time on this pump since it’ll dump when Vitalik clarifies.

>>16773722
read your screenshot, did he mention chainlink? no?
zkrollups have nothing to do with chainlink.

>>16773319
>>16773333
held this pic for this moment

>>16773745
Loopring uses Chainlink you dope

>>16773745
lmao
https://medium.com/loopring-protocol/chainlink-and-loopring-collaborate-on-oracles-for-zkrollup-dex-protocol-c1c8094afc27

>>16773759
Based and good meme trigger finger pilled

Who this vitalik you speak about? I only know VITALINK

>>16773742
>Loopring uses Chainlink for zkrollups
>Vitalik brings up Loopring's zkrollups and acknowledges that they can help ETH reach 160k TPS

And wallà.

>>16773764
"uses" to provide lrc/eth prices, which have nothing to do with zk-rollups.
it's yet another instance of small projects trying to use meaningless "partnerships" with chainlink for marketing, enigma recently.
They aren't even going to pay for use because they get gifted free link.

>>16773343
>>16773706
>>16773716
>>16773742
>>16773745

Just to hurt your butts even more, see pic.

"Defi" is basically ETH's endgame, and Vitalik knows oracles are the key.

>>16773795
>"uses" to provide lrc/eth prices, which have nothing to do with zk-rollups.
Keep reading brainlet.

>>16773801
nothing important relies on chainlink oracles because they are ridiculously centralized and expensive, and free tier has to end eventually.
Maker, compound, dydx are using their own solutions.
This is literally another enigma tier "partnership".
>>16773810
I know how it works much better than you. There's not even to place to use "oracles" in zkrollups, it's a scaling technology.

>>16773319
hopium for the bagholders.
get it through your skulls, there is no real demand for eth or chainlink in the world.

>>16773819
Have sex incel

>>16773819
>nothing important relies on chainlink oracles
Well apparently Loopring is a massive deal for ETH scaling.
Soooo yeah.

>I know how it works much better than you.
Then you know how oracles are at the heart of zkrollup functionality.

>>16773706
This. I've been reading English for over 3 years now and this is nothing.

>>16773819
i really appreciate you caring about my financial wellbeing so much and all this effort you put into your post

>>16773823
>there is no real demand for eth
There is real demand for ETH with external connectivity.

>>16773827
The thing is, LRC is not pumping at all

>>16773835
no, you've been fooled by infomercial-tier 'knowledge'.

>>16773831
Reading the max tare weights on the train undercarriages that pass by as you shit beside the tracks doesn't count.

>>16773823
god I missed this picture

>>16773845
You are spying me?!

>>16773849
Yes, I am also trains man.

hehehe it's plasma all over again

>>16773827
>Then you know how oracles are at the heart of zkrollup functionality.
no, it doesn't.
Instead of executing code on-chain only results are posted along with a cryptographic proof they are correct.
That's literally it.
There's not even any possibility of putting "oracles" there.

What loopring did is launch a default contract that requires "collateral" in lrc, because their token is useless and they had to figure something. The technology is completely separate and can be used without it.
Then for marketing reasons they decided they are going to require collateral in eth value, but in lrc, just to use chainlink. They literally added a pointless complication just to try to market themselves via chainlink.

And hey, it worked. This thread wouldn't exist otherwise.

>>16773858
Where we're going, we won't need trains.

>>16773881
only rollercoasters

>>16773319
in 2030

>>16773878
zkrollups are layer 2, ETH is layer 1.
Thus, zkrollups require connectivity between the two layers.
Without oracles, zkrollups simply do not exist.

This guy literally said it’s hard to argue that the chainlink ico deserves 32 mil

>>16773319 (OP)
why also Loopspring?
is it loopspring a buy?

>>16773914
He also said Defi implies oracles.
He's very weird about money, but not about the backend tech.

>>16773908
Those zk-rollups are fully on-chain. You have zero idea what you're talking about. No "oracle" is used for the actual mechanism of zkrollups.

>Chainlink has created a reference contract powered by its decentralized network of oracles to provide the LRC/ETH price. The price is pushed on-chain at any 5% deviation from the previous price, or, with a weekly heartbeat update should that 5% level of volatility not arise
>a weekly heartbeat update
>weekly

>>16773919
>Anonymous (ID: hUkHCES5) 56 seconds ago No.16773919
yes

>>16773929
>Those zk-rollups are fully on-chain.

https://medium.com/loopring-protocol/chainlink-and-loopring-collaborate-on-oracles-for-zkrollup-dex-protocol-c1c8094afc27
"We achieve this by using Zero-Knowledge Proofs (ZKPs) to perform all computations in verifiable batches off-chain"

whoops

>>16773939
I already posted it brainlet
>Instead of executing code on-chain only results are posted along with a cryptographic proof they are correct.
no, that's not an oracle, and all data is fully on-chain.
it appears you own link not even knowing what an oracle is supposed to do at all, only a nebulous concept of "something with external data".

>>16773956
>no
lmao, go tell Loopring that they built their shit wrong.
Don't forget to warn Vitalik too.

>>16773837
THE THING IS, LRC IS NOT PUMPING AT ALL

>>16773956
Btw, Vitalik describes zkrollups as "data-on-chain, computation-off-chain".

https://vitalik.ca/general/2019/08/28/hybrid_layer_2.html
"Because data-on-chain computation-off-chain layer 2 techniques don't have data availability issues, they have none of these weaknesses. ZK and optimistic rollup take great care to put enough data on chain to allow users to calculate the full state of the layer 2 system"

So exactly as described by Loopring here: >>16773939

>>16774001
>>16773837
and ... ?

WE ARE ALL IN THIS TOGETHER

DO NOT UNDER ESTIMATE THE POWER OF POSITIVE THOUGHT! ESPECIALLY COLLECTIVE POSITIVE THOUGHT!!

THIS SHIT IS GOING TO REACH $1,000 EASILY! HOLD THAT THOUGHT AND VISUALIZE IT IN YOUR MIND EVERYDAY AS OFTEN AS POSSIBLE STARTING NOW AND IT WILL MANIFEST INTO REALITY. DO IT! I'M NOT JOKING!

VISUALIZE AS OFTEN AND AS DETAILED AS POSSIBLE!

>>16774030
Why are you repeating after me?
Off-chain computation is not an oracle. There's no trusted party in the system at all.

>>16773343
>Go build something
go to reddit

>>16774259
>Why are you repeating after me?
I'm pointing out your idiocy, little Joey Krug.

>Off-chain computation is not an oracle.
lmao, who fucking said it was?

>>16774288
>lmao, who fucking said it was?
you
>>16773908
>Without oracles, zkrollups simply do not exist.

>>16774307
And how is that me saying "off-chain computation is an oracle"?

>>16774234
quit the FUD LINK will not reach $1K within the next decade so it's never going to happen as LINK will be dead in 10 years

>>16774231
which means this news has nothing to do with the link pump, since it is way more bullish for LRC
jesus I have to spell everything out for you brainlets

>>16774315
there's literally nothing else. A computation is performed off-chain. Results are posted on-chain along with the proof. It's not complicated.
Where's the "oracle"? What's external data is being posted by it?

https://www.youtube.com/watch?v=0DjHKqb365A

This is the track boys! We fucking made it!!

>>16773930
why?
could you eggsplain please?

>>16774356
>there's literally nothing else
>Where's the "oracle"? What's external data is being posted by it?
Try actually reading: https://medium.com/loopring-protocol/chainlink-and-loopring-collaborate-on-oracles-for-zkrollup-dex-protocol-c1c8094afc27

>>16774487
I see you realized you were wrong and are trying to handwave the answer away.
The lrc price feed is not a part of zkrollup.

>>16774520
>posting proof of Loopring (the zkrollup mentioned by Vitalik) requiring Chainlink to work
>"handwaving"

Even a zkrollup use case that relies on ON-CHAIN data needs oracles.
They simply cannot do anything without them.

>>16774578
Loopring uses zkrollup, it's not a zkrollup itself.
>They simply cannot do anything without them.
It's separate to the zkrollup part and only there because they want to force others to use their funding token, which in itself is not necessary and makes usability worse.

i only have bag of lrc and no link
am i going to make it?

>>16774616
>Loopring uses zkrollup, it's not a zkrollup itself.
I said it's a zkrollup use case.

>It's separate to the zkrollup part
In the same way an engine is separate to the body of a car.

>>16774641
>In the same way an engine is separate to the body of a car.
it's more like lrc token and chainlink are ads on the touchscreen.

>>16774662
You can't dissociate "scaling transactions" from the transactions.
When you talk about scaling, you're talking about actual transactions performed by use cases. And if you want to use zkrollups to scale those transactions, you need oracles.

>>16774675
>And if you want to use zkrollups to scale those transactions, you need oracles.
No, I don't.
Replace lrc with eth in their "staking". The eth/eth price is always 1. No price feed needed.

>>16774356
>where's the oracle involved in shunting computational results from off-chain onto the chain?

you're actually too low IQ to be in this space

>seething methheads who bought the top and stayed in it for "the tech" can't cope with the fact that their communist coin is useless in the real world without an ERC20 token

>>16774690
>Replace lrc with eth in their "staking".
You still need the USD price of ETH.

>The eth/eth price is always 1
Fucking lmao, but how much that 1 ETH is worth depends entirely on its USD price.

>>16773319
>$2.08
yeah we totally "made it"
fucking retards

>>16774710
If submitting transactions makes something an oracle, I'm an oracle too.
An oracle is something that submits external data - one that's unverifiable on-chain. In this case, all the data is on-chain.
>>16774719
>You still need the USD price of ETH.
No. They need the lrc/etc price because they want to know the volume in lrc and all dex pairs are in eth. They want the collateral to be some set fraction of the total volume.
That's why it's "Chainlink’s LRC/ETH Reference Contract" and not lrc/usd

>>16773333
checked

ITT: seething fud trannies who had 2.5 years to accumulate.

>>16774733
>If submitting transactions makes something an oracle, I'm an oracle too.
You could be. That's the point of chainlink.
Being an oracle is basically signing data onto chains.

>No.
Yes.
The staking only makes sense based on its value.
And value = USD.

>>16774733
>An oracle is something that submits external data

Since the computation isn't being done on-chain, the result is itself not on-chain. So yeah, there is an oracle to submit the external data involved (in this case the computational result) to the blockchain.

>>16774749
>The staking only makes sense based on its value.
Value has arbitrary units. There are eth pairs, so all volume is in eth. If they want 1% of volume to be staked it's enough to divide by 100. They need the lrc/eth price to convert the eth volume to lrc.
It's obvious that the lrc token part only adds complexity and is forced.
>Being an oracle is basically signing data onto chains.
>>16774765
>Since the computation isn't being done on-chain, the result is itself not on-chain
the result is verifiably correct because of the zk-snark, which is checked on-chain. Oracles assert facts that are unverifiable on-chain, that's why they require trust.

>>16774787
>Value has arbitrary units.
No, it doesn't.
1 ETH at 100 USD does not have the same value as 1 ETH at 1 USD.

>>16773333
pedothilETH

>>16774798
Volatility doesn't mean it can't be used as a unit. Usd is volatile in other assets too, even though much less than eth.
Regardless, they only care about a fraction of value, not constant value in dollars, so conversion to dollars isn't needed.

>>16773319
>ZKtech
This is incredibly bullish
>chainlink
kek insect element again?

>>16774787
The fact in Loopring's case being an LRC-ETH price feed in order for their DEX to take off. But naturally, the Chainlink oracle working with Loopring can assert a great many facts to the Eth blockchain, and this is merely a proof-of-concept.

>>16774836
>Volatility doesn't mean it can't be used as a unit.
A unit valued in USD, yes.

>>16773742
>Erc20 token shit talking ETH

How does this happen? Go build your own blockchain and stop mooching off me you cuck.

>>16773319
but wheres the 0xbitcoin tho
it makes all these tokens irrelevant
if ethereum succeeds itll be the only token you need

>>16773333

>>16774836
give it up cunt it's not your fault you don't have enough LINK now kindly KYS

>>16773319
fake like everything chainstink does. vaporware scam.

>>16773319
Vitalik has been saying that scaling solutions multiply together for like years kek this has nothing to do with Chainlink itself. Whatever I’ll take the dumb marketing if it means LINK gets pumped by the next wave of normies.

>>16773333