/biz/ - Business & Finance

That was a hologram on the Webcam. Sergey created this character. There was no white house CTO ever named Edward Felton.

now you know why we're not fucking selling

>>22707092
The AI construct called Big Ed v3 already answered this

>>22707214
Thanks anon, great to see confirmation Uni will run on arb. Going to be amazing to see all this weight come off ETH and seeing the more complex applications that will fill up the new headroom. It's like sticking a graphics card in the world computer.

>>22707092
>What are the roadblocks or issues that make this unlikely?
the fact that chainlink is a scam

>>22707287
You're boring, keep to your boring newfag bait threads.

>>22707092
delete this thread immediately

>>22707303
thanks for the wake up call

>>22707287
4edgy7you
ngmi
>>22707270
exactly. Offchain computation will drive the next bullrun in addition to other cost saving measures like Tsigs. Chainlink nodes will run arbitrum and arbitrum will use the link network to interact with uni and other chains/contracts

>>22707154
These redditfuguee faggots have no idea.

>>22707092
None. No issues, it's literally happening. Not just some pajeet-n-dump dex either, 99% of the current gas useages will be handled by chainlink nodes, off-chain.

Then gen2 sharding rolls out (or they just keep expanding sidechains) and then all the stock markets, forex, and derivatives move to the 400ktps chainlink network. Uniswap, CreditSwap, USDSwap. Now you're fucking getting it.

>>22707092
To be frank, Arbitrum has a lot to prove as a L2 before uniswap jumps, and a beta is not going to cut it.

Also, Arbitrum is highly dependent on Chainlink staking, and at that, Chainlink past the beta phase and into full 1.0 production.

So 3 things
1. Chainlink at 1.0 with staking and proven track record at this release level
2. Arbitrum past beta at 1.0 and proven track record at this release level
3. Uniswap not having chosen xDai or another L2 prior that may be ready prior to 1 and 2

>>22707270
unbelievably based.

>>22707614
My understanding was that Chainlink nodes functioning as Arbitrum validators would be doing a job that was completely distinct from their role as Chainlink oracles.
So that validator staking in Arbitrum was a different functionality that wasn't contingent on LINK staking being operational. Is that misguided?

>>22707092
The only thing you should be concerned with, as an investor
Is that q4 this year, and q1 next year, releases are coming

>>22707614
What's happening with xDai anyways?

>>22707092
Based OP that isn't a paid link FUD
>finally

There is seriously a link fudding psyop and some of my friends are actually falling for it and buying XRP. How can I save them? It hurts me.

>>22707695
People that buy reddit:the coin aren't your friends. Their programming won't let them have genuine human interactions.

>>22707449
this, it's going to be the shit.

>>22707649
can someone explain this?

>>22707649
Yes it is misguided.

The staking of a validator is still a service agreement.

>>22707739
I thought they went a different direction away from service agreements?

>>22707214
The ronan answer is fucking crazy. I always thought each arbchain would have to go through mainnet, to move tokens. You can spin up a Link arbchain, and pay every single arbchain from it without touching mainnet.

>>22707739
a contingent Is different from role Chainlink would doing wasn't their staking Chainlink that was be that functionality Arbitrum operational. that misguided? that validator oracles.
So a was job understanding on as Arbitrum staking completely functioning being was My as LINK distinct validators nodes in that

>>22707823
That hints at the possibility of having settled payment on ARB which does suggest that the entire process would be moved off ETH.
ETH will still keep the best security and decentralisation guarantees, though, so I think there will still be a use, it will just be an option and not a requirement, depending on your settlement needs.

>>22707738
>>22707912
You two have almost the same ID.

>>22707950
> pool vacuum cleaner tab
kek

>>22707950
what the heck

Monitoring this thread

>>22707968
ineffable bigmacs from sergeyland

uniswap3 is nearly finished and it's going to be on optimism, everything is going to be on optimism.
The idea that anyone except for link holders is going to trust centralized kyced link nodes for everything is ridiculous. Even eos would be a better choice.

>>22707950
why do discord trannies have to shoop everything kek muh hidden knowledge muh hilarious Delphi fud

>>22708034

>>22707912
Now why would I trust the result of off chain arbitration run by nodes with no skin in the game to lose?

>>22708261
Validators need to stake and Arbitrum contracts run correctly if only a single validator is honest. You should DYOR.

>>22708288
Exactly, I didn’t say anything else
Validators must stake

>>22708306
But validator staking isn't Chainlink node staking. Anon above said that validator staking is still an SLA and that Arbitrum can't move ahead until LINK staking is resolved, but I don't know if that's true.

Just got off the phone with big ol Serg, and I have some unpleasant news. Sergey cut ties with Felten recently after learning about his "discrete relationship" with CEO of competing oracle provider, iExec, Gilles Fedak. Rumor has it that Felten cheated on Sergey.

I've read the Toilet whitepaper, I've watched John Crapper's keynote, I've watched Potty Training Academy's 2019 announcement talk, I've read the explainer on Medium. I've DMOP.

>>22708330
It is true
How can you stake link otherwise? It’s a service agreement that scales for each node you choose to run your smart contract on that requires them to stake link but instead of just data retrieval it’s off chain computation and publishing of that data

good to see more discussion of arbitrum

>>22707449
I thought the Arbitrum had long confirmation times? Doesn’t this make it less ideal for something like trading? I’m confused.

>>22708631
>I thought the Arbitrum had long confirmation times? Doesn’t this make it less ideal for something like trading? I’m confused.
Not as long as other solutions which is why Vitalik is freaking out

>>22708742
I remember hearing 2 hours? Is that correct? That won’t work for Uniswap. But it would be great for open banking.

>>22708742
when was the first mention of Chainlink and arbitrum working together?

>>22707950
>>22707968
Wow. Absolutely undeniably based. I didn’t realize there was anyone still on biz that got here before August.

>>22708522
Checked and poopilled

>>22707614
more like arbitrum is going to be the first and most practical application of chainlink staking

>>22708782
same finality as ethereum blocks (15 seconds), but transactions are batched to achive 4000 tps on arbitrum v2 and 40000 tps on arb chains according to Ed

>>22708987
both of which execute EVM contracts correctly even if only one node is honest, combine this with an aequitas implemenation and arbitrum rollups will be immune to MEV attacks, thus L2 will be nigh on perfect

>>22709046
Wonderful. Thank you for explaining.

>>22709046
>>22708987
>>22708912
based my penis is erect

>>22709046
How can a single node be a proven honest validator? If anyone wants to explain to a retard who is an OG linkie that’d be cool. Otherwise carry on.

...so link can truly hit 1k within the next 5 years?

>>22709193
Try next year

>>22709187
if you watched Ed's keynote he said (paraphrasing) "Arbitrum will execute correctly as long as you trust yourself", implying a viable scenario for NEET nodes: if you're using EVM dapps as an honest user then it is in your interest to run versions of those dapps on an arbitrum node, there is no reason not to allow NEET nodes since the initial arbitrum committees will be formed of the trusted network that Chainlink the company has been forming for the past year+, especially if those NEET nodes have an interest in correctly executing EVM contract code (they are honest users), all that's left to assume is that Arbitrum is bug free, probably the reason it's taken so long to launch since announcement (along with T sigs) is that they're performing the most rigorous and expensive formal verification, and they're doing it many many times

put simply, the proof for the existence of at least one honest validator is that you trust yourself to be honest, and you have an interest in honest contract execution, so you can be that one honest validator; it's absurd to assume the alternative case: there is not in the entire smart contract using world a single self-trusting actor who wants to honestly use a smart contract dapp

>>22709312
Thanks a lot anon I should watch his presentation again, I appreciate it, I wish you many waifus.

>>22707214
Considering any ERC can be used for Arbitrum nodes, uniswap could use their new UNI token yeah? The timing of all this lines up well.

>>22708802
Feb 2020 publicily but was talk about it here in late 2019
https://medium.com/offchainlabs/scalable-low-cost-computation-of-ethereum-smart-contracts-using-arbitrum-on-the-chainlink-8985c6542d4e

ood ood ǝǝd ǝǝd

>>22709193
If the civil/ww3 *globohomo edition* doesn't end everything, yeah like 18 months tops. And then things get exponential from there.

>>22709187
>How can a single node be a proven honest validator?
It's the AnyTrust aspect of Arbitrum and it's cool as shit.

Basically what happens is that when two validators disagree about a piece of contract execution it splits the code into parts (A) and (B) and says "where is the dispute?". If the dispute is in (A) then it splits that code in half into (A1) and (A2) and says again, "Where is the dispute?"

It keeps going in this fashion until it's narrowed down the dispute to a single instruction which can be unambiguously resolved. Because validators have to stake in order to dispute, it's an extremely strong disincentive to dishonest behaviour because it will be reduced down to the most atomic level where the instruction will be clearly one way or another. It also means if you KNOW your execution is right you can enforce correct behaviour even if you're the only honest node and 50 other nodes are trying to bullshit.

>>22709401
why would they use non erc 677 transfer and call tokens?

>>22709971
Thanks for the write up

>>22707092
if you love Ed so much, maybe you should ask him out or something. and if not, try to find something cool about LOKI too

>>22710304
this level of low quality high school shilling shouldn't even be possible

>>22710066
Good point

>>22710066
>>22710633
as above so below

>>22707649
>Is that misguided?
It's not, they're two different things.