/biz/ - Business & Finance

>>27353657
Whats wrong with your face bro?
That's not normal, you should really go and see a Doctor

Linku very stinku :DDDDD

very needful sirs, I much recommend

A decentralized, 8 billion dollar oracle network THAT FEEDS PRICE DATA

>>27353801
All of this oracle shit is just hurting my brains.

>>27353657
It's a coin that makes you gay when you hold it.
You start worshipping a fat naked russian scammer who dumps his turds on you, because he owns more than 50% of the total supply.
Fun fact is that you're ok with that.

>>27353657
blockchain is a decentralized ledger that prevents abuses of central authority
to achieve this you need consensus between all the actors

When incorporating changing data from the real world, the fact that it changes can break the consensus. One node may see another value than another who is slightly later, and the data is unable to be put on ledger.

So you might aggregate the data value in a smart contract and push that on chain, with an update every block (or more).

The problem is that that data may be tampered with to skew the result and execute a smart contract on the decentralized ledger in a wrong way.

So Chainlink works on creating reliable oracle nodes that are incentivized to be honest, through reputation and staking. For now it is centralized to kickstart the network in a reliable way: start out with nodes you know are reliable.

>>27353657
Blockchain data speaks Mandarin
Chainlink speaks Russian and mandarin
You speak Russian
Fat Russian man (you) wants Big Macs, but only at $1 per bigmac,
You tell Chainlink what you want, Chainlink translates it to mandarin,
If that offer is available you get bigmac, if not you have to try again

>>27354705
aside from staking and reputation the nodes are also incentivized through a steady income for their job of providing good data.

This income is denominated in LINK tokens, so the network stays independent from other types of networks and cannot be taken down with them if something goes wrong. This LINK token will also be staked by nodes to secure high-value contracts.

The value of the LINK token is therefore tied directly to the usefulness of the Chainlink network.

>>27353657
if you're a newfag, you probably still think the value of crypto is as a payment alternative to fiat money; it's not
bitcoin is a worthless meme, but the underlying technology that allowed it, called a blockchain, is where the value is
a blockchain is a registry or a database, without a single owner, where each new entry gets validated by multiple independent parties; censorship/manipulation proof
ethereum was the 2nd stage in the evolution of crypto, not focused on payment but on developing the possibilities of the blockchain layer itself, notably by adding a coding language called solidity making it easy for devs to script applications on the blockchain
so now it's not just a stupid registry book, it's a full blown computer that can produce new applications, that cannot be manipulated; that's what we called smart contracts, and that's the blockchain killer feature
"if x happens, then y triggers" if we bet that tomorrow it will rain, and it's sunny then your collateral is send to me automatically
automated contractual terms, triggered autonomously without counterparty risk, without middleman; it promises to automate backoffice white collar job the same way robotics will automate blue collar jobs
wonderful right? but the issue is it's more complex than that, and the blockchain is still dumb, it is a closed off environment that cannot interact with the real world; they need an additional "data feed" layer, called "oracles"
but because of the decentralized architecture of blockchain, simply using APIs in a centralized way defeat the whole purpose, as that would pose a single point of failure.
chainlink is the first decentralized oracle network, applying the decentralized architecture model of blockchain to the data feed layer, by having multiple different parties push the data on the blockchain in a way that cannot be manipulated
simply put, ethereum is the computer, chainlink is the internet, and those 2 form the core stack, on which apps can be built

>>27353657
Token is bridge between Real world and Crypto World. Because Old Money no into Crypto yet, they will want bridge into Crypto world. You buy token, maybe go up or down, but it is part of bridge they need.

Also scam.

>>27353657
Simple analogy mr faggot!
Blockchain=computer
Bitcoin=electricity (it provides liquidity)
Ethereum=windows/mac OS (you can built decentralised apps on it)
Chainlink=Internet connection

>>27353657
Big Mac special sauce biggie biggie Big Mac. Mickey to the D, they all bend the knee. Big Mac special sauce, Sergey is the Chainlink hoss.

>>27356177
and the graph is the UI

Phone tases when stop nodding. The more nods the better. Various modes of nods.

>>27356177
>Chainlink = internet connection
This is the best way to put it. It is the real world connection to the blockchain. It’s the librarian to the library. The cashier to your big mac

>>27356336
the graph is shit

>>27353657
imagine the ancient greek battlefield
the soldiers don't know what to do unless they ask the oracle
but what if the oracle is secretly working for the persians and giving bad predictions?
so they ask 100 oracles using their chainlink stone

shitcoin scam holders conveniently ignore that Sergey has pretty much completely moved on and Jason Parser is in charge now and we all know how his former projects went

>>27356617
It is the Alexa of Amazon Blockchain fren

>>27356494
now ask yourself op, what's more valuable, a computer or the internet?
ever heard the saying "data is the new oil"? chainlink is the pipeline
ever heard thesaying "during the gold rush, the most profitable man is the one selling the shovels"? chainlink is the hardware store

>>27356189
big mac

People bought in and are trying to pump it by getting other retards to buy it. Pretty simple.

>>27353657
$1000 dollars is a meme and i fucking fell for it

sergay hats us and uses us as his piggy back

we are genuine bagholders so its somewhat stable

it has already mooned and everyone is hoping for more moon

it is possibly the future because od its idea but i dont see how a copycat wont do the same but faster

fuck you sergay get to work i know you browse this board

>>27356784
alexa is shit

>>27354705 >>27355300 >>27355666
what's to stop bad data from being pushed through? if bad data is fed to each oracle then bad data becomes good data.

>>27357013
B.b.b.b.Big Mac!

>>27357451
different data sources

>>27357586
>these are peaceful protests

>>27357424
it's the Ferrari of data, fren

>>27357451
that's why it's important to allow service agreements that specify certain parameters such as the API you want to use, or not. Or you could allow the oracles to select their own APIs that they deem of good quality. Reputation and staking will compel the oracles to become good at selecting service agreements with proper APIs and high quality data.

Okay, a lot of good explanations here.

but
>Why is linky stinky?
>Why Sergey like Big Mac?

Another way to put it. Right now crypto is its own bubble. Have you heard about the talk that blockchain is the technology is the future? One day companies and people will use blockchain? Well it might be true? However to achieve it, how? How do we input these data into the blockchain? The answer is chainlink. With chainlink, the crypto world will be able do fetch data from the real world and stop being in its own bubble. Chainlink is the key in unlocking ethereum potential or any other retarded ethereum killer out there

>>27358906
>why stinky linky
Because my fucking linkies stay super stinky faggot
>why sergey like Big Mac
Fudders called out that chainlink is not needed and is a piece of shit worthless coin which can’t even buy a Big Mac. DID YOU SEE HOW FUCKING FAT THAT PIECE OF SHIT IS? Clearly he has been dumping his linkies to buy big macs you utter faggot

>>27353657
Produces subsonic sissy hypno frequencies

>>27357451
Bad data = loss of chainlink
Good data = gain more chainlink
These good and bad data are served out through a simple mean, median and standard deviation

>>27353657
A cup of coffee

>>27355104
>Fat Russian man (you)