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/biz/ - Business & Finance

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4200024 No.4200024 [Reply] [Original]

I see a lot of /biz/zers talking about chainlink. WTF is this shit? What technology does it have to make it so incredibly appealing?

Someone give me an ELI5?

>> No.4200065

Nothing, just move on with your life.

>> No.4200083

>>4200065
This is not the answer he is looking for, why don't you move on to another thread instead?

>> No.4200087

>>4200024
Bitconnect is a better option for you.
>>>4197222

>> No.4200113

Companies want to utilize smart contracts. Oracles provide data which powers them. They use Chainlink as a service and pay those data providers with the Link token.

>> No.4200118

>>4200024
I’m telling you literally no one here knows what this stupid shit does.

I used to own $80,000 worth of this shit coin, stay away from this college student midterm project level scam.

>> No.4200132

It has no tech or use case, people like us who bought it are just gullible. Just another shit erc20 token. Move along, don't worry about it anon. Focus on getting a promotion at work instead

>> No.4200151

>>4200132

am student


>>4200118
well wouldnt you want to know more about a product before buying it? are people really that retarded here?

>>4200113
so chainlink is a data processing service on the ETH chain? is that the idea?

>> No.4200159

>>4200024
Aussie here I'll drop a little insider knowledge from one of the banks, currently *** operates on Oracle's and is wishing to integrate crypto and bitcoin into their system however, the problem is the accountable transaction trail.

Smart contracts essentially is aimed at breaching the gap between wallets and currencies but to my knowledge has not addressed the anonymity issues.

LINK will be used once *** And the dev team realise a way to integrate it in an anonymous way.

>> No.4200201

>>4200159

whats up with the ***

Any tech papers you have on chainlink? Or any info on this issue itself?

>> No.4200217
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4200217

>>4200201

>> No.4200220

The coin 12 y/o virgins from /b cant buy so they make memes about it instead. Memes incoming....

>> No.4200237
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4200237

>>4200217

>> No.4200325

>>4200132
>It has no tech or use case, people like us who bought it are just gullible. Just another shit erc20 token.
kek FUD harder faggot. you're acting like LINK is the only altcoin that dumped. lets see you FOMO back in after the fork

>> No.4200354
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4200354

>>4200024

>> No.4200372

>>4200024
it fixes the fortune-teller dilemma

>> No.4200380

>>4200354
:)

>> No.4200397

>>4200024
I'll let you in on the secret, it's just a big inside joke, none of us would really buy a coin with a 4 page whitepaper lol

>> No.4200465
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4200465

>>4200354
thanks anon

>> No.4200466
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4200466

Join us.
Live
>Rent Free

>> No.4200658

>>4200024
-first mover technology in DECENTRALISED oracles. Bitcoin was the first decentralised currency, Ethereum was the first decentralised smart contract. Oracles have existed for a long time but they were CENTRALISED.
-Why does DECENTRALIZED oracles matter so much? Only Decentralized oracles can be used for high value use cases like payment remittances by banks. Centralised oracles are not tamper-proof and secure the way decentralised oracles are.

>> No.4200712
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4200712

>>4200658
>oracles

question what does 'oracle' mean in this context?

we mean a big data bank / prediction bank?

>> No.4201551

>>4200397
chainlink has a 28 page whitepaper faggot

>> No.4201598
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4201598

>>4201551

pls
>link
me

BWAHAHAHHA

>> No.4201607

>>4201598
https://link.smartcontract.com/whitepaper

>> No.4201139

>>4200712
oracle is something that verifies data from external sources outside the blockchain. It will use trusted hardware like Intel SGX and node operators.

ChainLink is capable of connecting any smart contract to an external system and an API. This secure blockchain “middleware”, as the team calls it, provides the bridge for the gap between smart contracts, APIs, and any other form of external data one might need. While it may not be the perfect solution, it should be useful for at least 90% of current and future use cases.

ChainLink has almost an unlimited use cases but it has a lot more use than conventional oracles which are centralised. Sergey talked about using chainlink for bank remittance/payments, financial instruments, and insurance payments eventually.

>> No.4201628
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4201628

>>4201607
>https://link.smartcontract.com/whitepaper

HOLY FUCK ITS LATEX FORMAT, TAKE MY MONEY ALREADY PAJEETS

>MFW

thanks anon