/biz/ - Business & Finance

Truuuue.

>>28577140
isnt this the guys that ditched its last project and investors? you guys are 5 years behind linkies

>>28577357
I find it ironic that most of the early Link OGs are in the Api3 chat while its now redditors Cosplaying early Link buyers on Biz now. Fucking topkek.

>>28577528
Reporting in.

>>28577140

I've looked at their codebase. They use bad coding practices everywhere. But their documentation is thorough and actively push to their various repos. I personally hold 340 tokens and plan to contribute to this as my first blockchain project. Reading 'mastering ethereum' rn as they have advised to fully grasp why this will work and is necessary over an existing oracle like chainlink.

Is that why the DTCC and every other titan of industry went with LINK?

>>28577656
Those are rookie numbers. Have a few k at least.

>>28577752
That’s cause Api3 didn’t exist plebbit brain. We had 3 new projects sign up this week including Harmony.

Burak can't even code, look at the github it's downright embarrassing. It literally looks like a high school project.

>>28577871
LINK has like 30 new projects per day. You dont actually think API3 has a chance, do you anon?

>>28577528
>find it ironic that most of the early Link OGs are in the Api3
yes link ogs have suicide bags lol, good luck tho...5 years ahead

>>28577752
API3 is still a young project, but offers a better end product. If you are bullish on oracles in the space, why wouldn't you at least diversify into the top oracle projects? It also has a much smaller market cap due to what I mentioned above. That offers potentially much higher returns, even if it only is able to capture a small percentage of the market cap. Api3 is also averaging four new partnerships each week. Do what you want with that information.

Everyone knows LINK will dominate but this will get a share

Chainlink is partnered with the WEF you can't even FUD it anymore just stop

>>28577140
>rank 273 mCap shitcoin with no team and broken team is objectively better than the oracle standard already implemented by the majority of DeFi providers currently running

lmfao ok

>>28577965
Prove to me that it's not complete vaporware, and I'll consider buying

>>28578054
It will probably yield a potentially higher ROI if you sell near the top

I sold my api3 last night cause moon mission was taking too long and mooned this morning.
>sigh

>>28578026
Don't forget the DTCC (settles quadrillions, yes quadrillions in securties each year), Telekom (Europe's largest telecom company), and every single blockchain project that requires decentralized data feeds

>>28578019
You think other more effective Oracles couldn’t be? Zero logic.

Just went to their website: "coming soon" x 10

>>28578026
Nice Reddit tier pic. Hope you are enjoying my Link bags after I sold them after a 100x

Which translates to, we dont have a product, rather an idea, which equals vaporware. Pure gambling.

>>28577140
Stop comparing it to LINK. It's just different.

>>28578054
I'd recommend looking into it yourself, starting with the whitepaper. I doubt anything I personally say will actually get you to gain interested. I also don't want to type a paper in this thread. If you don't want to do that, you can watch what happens with the upcoming hackathons. They have several in the near future with most of their recent partnerships. I'm personally excited to see how well the airnode works. Even if they can't deliver, I have a very large bag of API3 and Link.

>>28578294
They have a product and staking goes live probably around March or April. Their product is still relatively new, but that is expected since their token was launched 3 months ago.

>>28578326
I read it already. I bought into API3 way back, then I realized they are making no real progress and no rollout of product. Vaporware.

Fuck off CLCG trannies. You won't get away with it.

>>28578433
I hope I'm wrong. I genuinely want you to make it

>>28577140

>>28578536
Don't worry friend, I've already made it. Hope everything works out for you too.

>>28577140
Kek you made this thread because of the butthurt this delivered unto you yesterday.

The drawback for API3 is going to be that it requires first-party API providers to run API3 software. If you want to have a smart contract which responds to an API, API3 effectively requires not just the permission but the active cooperation of the API provider. There are going to be administrative and security costs associated with running the API3 software in the provider's domain, and providers are not going to be enthusiastic about taking those costs on. This will be an obstacle the spread of API3 oracle services, and therefore to widespread adoption.

So, I disagree that API3 is better.

>>28578504
I have never seen anyone able to refute any part of that image. API3 bagholders always ignore it.

>>28579446
lmfao based

>>28580375
The reason no one acknowledges it is because it is blatantly wrong. There are more lies than consonants in that image.

>>28580779
Name one (1)

>>28580779

Can you point some of the lies out? It all looks pretty solid to me.

>>28580797
Well the easiest one to refute is the team dumping tokens. They are not, and there is a vesting cliff for the seed round investors. The seed round investors are very big names in the space. Do you think they would invest in a shit scam?

>>28578183
>Zero logic
The only logic I need is to go to the WEF site and see Chainlink listed as a a partner.
Or read the whitepaper co-authored by Sergey Nazarov.
You literally cannot FUD this project....

>>28581239
It seems like Chris Burniske is seething by the fact that he missed out on Link despite preaching how valuable middleware investments are. Now they invested in API3 whilst fully aware that Link is totally a more superior product. All they want is money, they don't care if API3 never succeeds which it most likely never will

>>28581493
https://medium.com/api3/api3-closes-seed-round-with-six-major-funds-67677b82ed8b

There are more than just him. But it sounds like you are hear to just FUD and drive the conversation away from an actual learning experience for you.

Umbrella will dwarf both soon

DELETE THIS

>>28577140
You want me to buy a chainlink "killer" 3/4 of the way through a bull run? Do you think I am retarded? Do you know how shrewd, unscrupulous, and smart big flannel man is? Have T-sigs, staking, offchain, Ari and the nerds in the back thinking up all kinds of new use cases, etc all waiting in the wings. You think waiting isn't on purpose? You think that he doesn't know the day of the bear is coming? Watch what happens when the market turns and Serg's rolling out revolutionary update after revolutionary update while all other "Oracle solutions" become the next funfair. Fuck off with this shitcoin.

>>28577140
imagine thinking that legitimate companies will pay 100000k to provide a basic node with the risk of losing their stake

linktards unironically won’t read into api3 because they enjoy sergey dumping billions of $ in link on them because they’re a fucking pathetic cult

Why would i buy this over valued shit during a bull market? They have zero network effect.

I miss the /biz/ that actually debated shit.

Sorry anon, the chosen one is Bluzelle, not this scam by team honeycomb

>>28577140
Not going to invest in retards who couldn't run a basic link node, let alone program properly.
> but muh investors!

Did you new fags forget all the magic, life altering tokens that were supposed to "change" the world last bullrun? The amount of fomo and investments that went into them? Guess what? They all failed.
This is another one of them

It just broke ATH as we speak lol

>>28583360
SHUT UP STOP SHILLING

>>28577965
It does not offer a better end product. It shifts the burden of responsibility onto users and third parties. For example, users pre-funding nodes, relying on 3rd parties to deliver data on-chain, and no aggregation or any advanced services. DECO will make first-party oracles largely obsolete anyways. They also have pennies compared to Chainlink in terms of growing the network and lack anywhere near the big brains that Chainlink has. Chainlink's network effect has already made it the standard.

>>28581962
>They have zero network effect.
What kind of fucking network effects does Chainlink have? Other than free shilling via bustards and retards on Twitter?

It’s feeds run by Chainlink employees, unironically

>>28584908
you must be new

>>28584290
>It shifts the burden of responsibility onto users and third parties.
Who does Chainlink shift the burden to? Themselves? Because it’s entirely a centralized operation. Or perhaps the people they dump LINK on?

>>28584970
No, I got into Chainlink bc of biz about 2 years ago. Network effects could apply to Chainlink if they had staking implemented and if it was a permissionless network.
> The network effect is a phenomenon whereby increased numbers of people or participants improve the value of a good or service.
How do increasing users or node operators increase the value of the LINk token?

>>28584994
That's the best you got? Considering Chainlink doesn't even run a single node on the network and that can be proven by just looking at their feeds page where each network is completely run by independent node operators. It was over for API3 before it even started. They will get a hype pump but will never take off in real adoption besides a shit project here or there that's desperate.

i bought 42 API3 to be part of the experience

>>28585196
>run by independent node operators.
Tell me, how does a node operator get added to a Chainlink data feed? What’s the process?

Suicide stack?

Linkies being afraid. Lmao

>>28585477
Currently whitelisted tp service the Price Feeds, but all those nodes are run by independent entities like I stated. However, anyone at any time could run their own node to supply data if they wanted. In fact, many data providers are running their own nodes now like Kraken and Kaiko.

>>28585961
What secures the network presently?

>>28586065
Is this a serious question? All the nodes independently run the Chainlink node software and collectively maintain the networks.

>>28585961
>However, anyone at any time could run their own node to supply data if they wanted
Ahahaah you must be fucking kidding me

>>28577140
Just a reminder for everyone. These API3 shillers want to pump and dump their bags to buy more LINK. Even Elliot (biggest shiller of API3) has admitted that people should take the profits and put it to Chainlink. Do what you want with this information...

>>28577140
>can’t even get whitelisted on bnt

>>28579640
If you bothered to read through the documentation and also run the function yourself one, you would have realized that it is so light-weight that AWS doesn’t even charge you for running it.

Compare that to setting up and maintaining and a chainlink node and think again if API providers don’t want to rather do this.

There is a reason why large companies like Telekom are offering to run a node for these API providers. Because it’s downright complicated for the average one.

Will Link have the majority of „larger“ firms that have the capacity to run nodes? Most likely.
Will API3 have overall just more data sourced and thus more „secure“ feeds? Yes, simply due to the fact that it is easy as fuck for them to set up.

To yourself a favor and try deploying an airnode before making assumptions on „facts“ that the shilling (api3 or link alike) bagholder has.

There is literally a tutorial out there to spin one up in 15 minutes and even a complete moron like me was able to do it, which speaks words for the ease of use.

>>28587131
>inb4 learn to type
My phone and autocorrect are my natural enemies

>>28579640
Hi Coventry,

What’s better than? Having multiple nodes query the same API provider? Reselling API data? The API provider is a crucial part of the pipeline whether you choose to ignore them or not.

>>28586663
What about that statement is false?

>>28587131
You still got to get the data on-chain, manage fluctuating gas costs, keep the node up, and what this is all going to magically disappear. Users and third parties will be reliable in all types of market conditions?

>>28587386
How would you even know if any current independent (I.e. not selected by Chainlink) nodes are even currently operating? I.e. they get no traction so you don’t even know their uptime. And there are 0 security measures in place. Staking, the #1 security feature mentioned in the whitepaper, and the only value prop for LINK, hasn’t been implemented in 3 years.

>>28587493
>data on-chain, manage fluctuating gas costs, keep the node up,
This is literally all automated by airnode. The user just has to keep their wallet topped up, which is the case with any blockchain subscription service.

>>28587515
You could find any of those nodes and their performance on market.link. It's the same security measures as API3 running a node in that the Chainlink node signs the data, as well as monitor their performance. You just don't get it. They are building a massive network effect and scaling (OCR) before going towards staking. Clearly, it's working too

>>28587515
Hey Burniske
sucks to suck, huh?

>>28587578
The airnode signs data, it doesn't manage the blockchain node and no subscription is going to manage wild network conditions and be able to get transactions through as fast as they need to be on something like Ethereum.

>>28578019
token not needed

>>28587692
>You could find any of those nodes and their performance on market.link.
You were asking about independent node operators. Only “official” nodes servicing the main data feeds get any traction. That means only those nodes have historical data that one can use to compute “reputation”.

Also, the idea that reputation can be used as a security measure is an absolute joke. Once enough money is in play, someone will trade in their reputation for a decent payout via misreporting data.

>>28587493
Try running it for a day or 2 with some free api out there and check the uptime.

You can run a local chain and query every couple of hours to check if it is reporting. Tell me if you had to, in any way, intervene or bring the node up again.
Little spoiler: did this for a week and I did not have to.

As for bringing the data on-chain. There are various fucking third-party providers out there that bring that shit onchain for you. For fucks sake, AWS even offers it.

And why should the API Provider care for gas costs? Literally paid by the requester.

You can argue about it however much you like. Both solutions will survive.
LINK attracts larger firms that have the infrastructure teams to maintain and monetize nodes (a.k.a Telekom) and API3 will be more appealing for the masses that just want to monetize their fucking APIs in an effortless way.

If you cannot see that then get help.

>>28578019
>partnered with the WEF
Lol. What does this partnership entail?

>>28587873
sure, theoretically you can compensate node operators in whatever token. But even given this choice, why on earth would they choose anything other than link? The asset they've accumulated all this time, supported by the best community in crypto and which will only continue to appreciate in value so long as they only accept link as payment.
Token not needed is a very smoothe brained, many years old and nigger tier FUD tactic.
There is no competition for chainlink. Not to mention, DECO gives them a monopoly on the uses cases that actually matter.
Enjoy the view berniske.

>>28587985
no clue, but the WEF seems to have huge plans for the world. And I see no other crypto team on their list of partners.

>>28587934
You are sacrificing decentralization and security by putting the burden on third parties to get transactions through during challenging conditions. Besides, DECO will make first-party oracles obsolete anyways.

>>28588298
Not to mention, you could simply have a third party service like LINKpool run your node as a data provider if you didn't want to manage it. It would be no different than paying infura or whatever other third party service and they would still sign data at the source from a unique private key.

AJJHHEIOWFHDEIJ

>>28587922
The market demands what the market demands. They would rather have the initial network cultivated with security reviewed nodes to ensure early data feeds are industry grade. But go ahead and virtue signal while sacrificing security and see where it goes.

If a data provider is already solid then they already have reputation from their API business, which transitions to being a node.

Thinking reputation is the only security measure means you don't understand decentralization, on-chain performance history, future staking, user-choice of nodes, and other metrics that are all combined together to create security.

>>28588488
It's an option, not the default standard.
It's in case the API provider doesn't want to spin up an eth node.
> because spinning up and eth node is complicated lel

As for the third party service, you're still handing your data to the link pool.

Now your counter argument will probably be like: MUH BUT INFURA OR AWS ALSO THIRD PARTY.

Well. Do i trust the link pool with my fucking data as an API provider or AWS/Infura?

For fucks sake come out of that box and stop seeing one solution as the ultimate winner in all of this.

Every single one of these solutions has an appeal for some parties and non will be the ultimate standard.

>>28589095
Weak arguement. LinkPool is probably better qualified anyways because they specialize in specically running nodes. Not to mention, API3 is totally obsolete with DECO.

>>28577140
Api3 will take its place, but it will take a while. Hodl for ez gainz

>>28587386
Sergey hand picks the nodes. Saying anyone can become a node operator is bullshit

>>28589569
You fail to separate one oracle network design, aka the Price Feeds, from the wider permissionless Chainlink Network where anyone can launch a node on.

>>28589648
>wider permissionless Chainlink Network where anyone can launch a node on.
Seriously there is no such network u fucking brainlet its all about pricefeeds and vrf right now

>>28590091
Because that's what the market demands. Do you think API3 is going to have numerous separate running oracle networks where anyone can provide data to and where all these networks bear their own costs instead of sharing costs?

>>28590368
You clearly have no idea about api3 infra. Start with whitepaper

>>28590556
You don't get it. Explain exactly what was wrong with what I said?

>>28577528
Remember how a bunch of old LINK buyers were heavily into DMM/DMG as well? It's almost like a certain little group of 2018 discord using latefags are absolutely sociopathic money addicts who need to be pathetic scammers on top of the fact they would have made it 10x over anyway just holding LINK.

API3 is built by a bunch of rejects that couldn't even keep a Chainlink node running (Honeycomb node was scrapped from all feeds due to constant downtime). The honeycomb market they built is full of dead dApps, or dApps that give security warnings.

Their whole value prop comes from the claim that "data providers don't want to run complex nodes to monetize their data", how ever here in actual reality, we see already tens of data providers doing exactly that on Chainlink including Tsystems, and even Google (so far only on testnet). The only people pushing the fact the API3 's "air nodes" are desired by the market are their investors. Nobody else.

It's a cash grab pushed by snakes like Burniske and Alameda. A pump in price does not equal a good product or an insured market share.

>>28589095
Chainlink isn't "one solution".

It's a framework on which devs can build any form or oracle solution they desire in terms of number of feeds, data delivery, interval, method of aggregation, method of node selection etc. To put it as you did shows you have no idea how this tech works. Go read some more.

>>28592415
this, but i dig API3 too

stay poor retards

>>28592250
And the fact that only those big names are running nodes and the whole fucking marketplace is made up of 50 APIs in total doesn't concern you at all?

>>28592667
"only those big names are running nodes " -> No, they aren't.

"50 APIs in total " -> No, it's not just 50.

I only named two because I'm lazy. Excuse me for assuming i was talking so someone that did their actual due diligence before commenting on a very complex subject.

>>28592250
Tell that to all the API providers that are getting approached by LINK and reject the offer to provide their data to them.

There are numerous of them out there.
If it is so "easy" and a no-brainer, tell me why would anybody say no to that incredible offer?

Some major "cryptodata" APIs downright reject to provide chainlink with feeds.

Do some digging.

>>28592893
LOL cool claim "just trust me bruh"

API3 shilltards getting just as desperate as BANDaids with the wild conspiracies

>>28592667
Kaiko, Alpha Vantage, Huobi, etc all running nodes. Plus, data providers get paid all the same in the current way Chainlink Networks run since nodes buy API subscriptions.

>>28592974

Go ask around.
Take any API provider that gives you reliable crypto related data and ask them if they have been approached by chainlink and rejected the offer.

Come back to me then with the realization.
This has nothing to do with trusting me.
I've went to discord channels and straight up asked people why they aren't providing chainlink with their data.

Go do it.

>>28592893
Provide one shred of evidence of that claim. I know you can't.

>>28593046
Yeah, they get paid once. By each node.
Each node makes money out of the API provider by selling their data.

This is the node operator pushing the narrative that they can simply sell the API instead of the API provider themselves doing it and making bank on it.

"hey lemme pay you 100$ a month for your feed and let me make approx 10k a month out of your data instead of you monetizing it. Sounds good to you?"

>>28593086
"I'm claiming this but you have to go prove it for me"

LOL nah I'm good. Are you Burniske himself?

>>28593092

You want me to start name dropping projects for you now?

>>28593265
I can't speak for him but I would assume any adult human being with a functioning brain would assume you back up your claims yourself, or don't use those claims in a discussion at all.

>>28593180
"Sounds good to you?"

Well clearly it does seeing as the network is constantly growing. That being a fact, you might want to consider what you think to be true about how the fee structure works isn't actually correct,

>>28593427
Why isn't Coingecko providing the feed themselves?
Why isn't CMC doing it?
Why isn't Defipulse doing it?
Why isn't Binance doing it?
Just go down the list man.
If it's so easy and offers you an easy way to monetize your datafeeds, why the fuck isn't everybody jumping on the ship and basically taking it?

Why do they reject it?
Tell me?

Why do you trust a third party node operator to take that the API and funnel that data into the chain? Why doesn't the data source do it if it's such a fucking no-brainer???

there's so much hate in this thread as usual
API3 has a much better product when it comes to large industries, enterprise, etc.
but Chainlink also has a great market, offering an easy plug-and-play oracle service that has had a great track record so far for getting projects off the ground quick, think of any DeFi protocol basically
they're after 2 different markets and there are many reasons i think API3 will be more appealing to most who aren't just forking a protocol and requiring price feeds
another great reason, data providers can be paid in fiat
also, let's not kid ourselves with Chainlink. i will always love Chainlink and the road it paved, but we have to realize that it's as centralized as centralized gets, and on top of that, we get no transparency.
this is why competition is great because in the end, they can share the market, and it's showing which types of data providers are willing to use API3 vs. Chainlink
quit being zealots and just accept that competition is amazing for all of us, and if you're just in this for the money, then buy some of both, unless you're poor, in that case, hold your LINK to where ever it may go. i'll be holding both, and i've got my eyes on anyone entering the space with solid tech and quick adoption

>>28593644
> inb4 they don't need to.

Yeah. The T-Systems node is making 30k a day.
Bet any sane company would reject that kind of money if it would be so easy.

>>28588260
actually Maker's oracle was on there as well. and let's not forget that the WEF is the enemy and has no mandate, they shouldn't be a selling point for any crypto project. Chainlink has many good selling points, why even bother putting that WEF shit out there?
i'm convinced none of you that gloat about the WEF paper with Chainlink (and MakerDAO oracles btw) haven't actually read it or even know what the WEF is about. i think you retards just see "wow, the WORLD ECONOMIC FORUM IS GOING TO WORK WITH CHAINLINK?!?!!?!"
cringe, really.

>>28593180
Wrong. The extra value of using a third-party oracle is paid by the end-user, not the data provider. The node provides buys an API subscription all the same. It would be the same in the API3 models as the user has to pay for third-party services like Infura, which in Chainlink goes right to the Chainlink node.

I have a piece of advice for you
don’t go for this scam that they try to sell on this thread
if you want to use good services and algorithms for trading you should check Bot Ocean
Thank me after, boy

>>28593644
Because they sell their data all the same through the Chainlink Network. Coingecko is a data provider to the Price Feeds. https://blog.coingecko.com/coingecko-to-provide-cryptocurrency-market-data-for-chainlink/

>>28593644
Still not a single spec of evidence of your claim

>>28593965
That statement alone showed me that you haven't even taken a look at what API3 is building.

You don't understand that the node operator buys the subscription and then goes off to sell the data to dApps.

API3 allows the API provider to get more than 1 fucking subscription for their data, which each interested dApp becoming an income stream for them.

>>28593660
What competition? Who is using API3?

Am I competition to Nike if a draw up a shoe that I think is better then their's? Or do I need to get a piece of the actual market before I can be called a competitor?

Yeah. You sound like an investor.

>>28593660
Look at this weak arguement. API3 is not providing anything new. Data providers can get paid in fiat by selling through the Chainlink Network, as nodes pay for APIs off-chain in fiat. Also, they could run a managed node through LINK pool if they want to sell on-chain and sign data, and easily use a backend DEX and invoicing model to get paid in fiat.

Chainlink is highly transparent, you can monitor their data feeds in real-time and see all the node's on-chain performance on market.link and reputation.link.

There is literally nothing API3 is offering that is better than Chainlink.

>>28594107
API providers sell based on calls and all the nodes that pass that data on-chain make calls for every update that they pay for. So every data update requires a call. It's totally economically infeasible for each dApps to pay individually for each feed, that's why you have shared oracle networks. If there were the same trading pair with two different oracle networks that update on different frequencies, they would both be paying for each update. Surely the networks work out plans with the oracle networks based on usage and number of projects using it.

>>28594404
leave no survivors based link anon, these jew ass API3 faggots need to be strangled

>>28594960
HAHAHAHAHA

>>28594960
Based

>>28578504
this