/biz/ - Business & Finance

>>51167233
>Hey everyone, Sergey can you hear me?

>>51167239
> yep

>>51167253
>welcome. How’s everyone doing, I see a lot of community members in here, really great to see everyones faces. Sergey we’ll just give it a minute or two and let people funnel in, then we’ll get started, does that sound good?

>>51167268
>yep sounds great, excited to speak with everybody in this new format, thank you everybody for coming. I see a lot of my face on other peoples twitters, which is interesting I guess, thank you.

>>51167233
Doing God's work anon

>>51167275
>Yo can we can an emoji spam for Sergey coming on his first space everyone, maybe spam the heart, show some love, show some support…… Lets go, y’all are awesome, we really appreciate the community and just the entire support for this space guys, incredible….. we’ll give it one more minute guys and then we’ll dive in.

Chainlink general thread for schizo baggies is needed
LINK token is not needed

>>51167292
>Ya I have to say the creativity, I’m just looking all the, all the avatars and everything in our community and I’ve got to say the creativity of our community I think is pretty much unparalleled.

pregnant sergey, calling it now.

Sergey was reciting from the Book of Truth when the audio faded. He asked the moderator, a feeble weasel of a faggot called Crypto Mew Two, what verse he was reciting and Mew Two stuttered like a RETARD claiming listeners had heard the verse before and reciting from the Book of Truth resulted in no price action.

!!!

The ceremony had to be halted and the digital fibres were cleansed by high order cultists from the Seventy-Seventh Truth Legion. They performed the Ritual of Fair Sequencing Service on Sergey's modern router and the conduit for Truth was blessed again.

Heil Sergey!!!

Praise Truth!!!

Shame the sinner CryptoMewTwo!!!

>>51167309
>And is there any one you like the most?

Autistic caption linky is back. There’s still hopes for us marines.

>>51167233

>>51167328
>Umm I wouldn’t say the most, I would say the creativity just continually kind of surprises me and amazes me, the whole memetic thing, is quite an interesting new dynamic about how people consume information these days, but I think our community definitely has a, definitely has a handle on it. And, you know, like throughout time there’s been all these different formats like poetry and theatre and all this different stuff and this kind of memetic thing is like a modern day, you know, way to communicate that elicits emotion from people, and its funny how that works its kind of like its own interesting type of art that has tangible outcomes, at least in our industry. So it’s pretty interesting.

Sergey expressed faux-surprise at seeing His visage displayed by the many faithful followers at the Holy Space. Akin to the Mithranic doctrine "Mithras is my only Crown", We are all Sergey is a tried and true practice of stripping one's identity away so that only the Leader remains and it is in the Leader's name we shall act. For His words shall be our words and by His words alone we may speak.

Truth>Trust!!!

DeFi is filled with deceitful sinners and We (Us) are the only way forward.

As part of the Seventy Seventh Legion of Truth it was an honor and a privilege to serve you today Sergey by cleansing your Modem Router in the name of Truth .

>>51167342
>One hundred percent, Sergey I think we can get started, we have enough people in here. Ya so welcome everyone to the latest episode of chainlinked by Chainlink Labs, for those new to the show this is a twitter spaces series where you can learn all about the latest developments in Chainlink and the wider smart contract ecosystem. Today we’re hosting our first ever Chainlink town hall with none other than Sergey Nazarov, co-founder of Chainlink. Welcome to the show Sergey, how’s it feel man, how’s it feel to be on your first twitter space?

>>51167355
>Ya it’s interesting, thanks for including me, I haven’t done one of these before, it’s interesting how easy it is to get, you know, this large of group of people together in a shared room to talk about something. I know this thing kind of took off as a competitor to some other thing but because twitter had at least the platform leadership now, more and more people use this. So it’s interesting how that works as well. But ya thank you for having me. Beyond that I think the first thing I want to say whenever I have the opportunity to express clearly is to thank our community for all the effort and thoughtfulness they put into explaining what we do to people and supporting us in however they can.

>>51167328
This one, it represents the massive growth opportunities present in our oracle network.

>>51167371
>Once again I don’t spend a huge amount of time on twitter, you’ve probably noticed I pretty much tweet at very predictable times and very predictable kind of schedule, so I can’t say that I spend all my time on twitter but I think it is very important that we have a vocal and positive community that understand what we’re doing and understands what a world powered by cryptographic truth means, because these things are actually kind of like self fulfilling prophecies, where once enough people believe in a kind of societal shift towards something, such as a world powered by cryptographic truth, it starts to happen faster and then as it happens faster more people believe in it and it happens even faster. So that is I think one of the core roles of the crypto community generally and the chainlink community specifically, for the chainlink network its making it clear to people that a world powered by cryptographic truth, whether its in the form of DeFi or any number of other use cases that we uniquely enable, is really a better world that they want to be a part of, whether they’re a developer, user, node operator, whoever. And so I think without the very active and vocal communities in our industry we really wouldn’t be nearly as far along as an industry. And so I think it’s a critical part of the puzzle of how our industry is now rapidly rising to become the way that applications should work more and more, and the world should more and more because you know, you might have noticed but the whole world is run by applications.

>>51167355
Guarantee this faggot Pokémon is behind the 7777 and Big Mac memes being posted on @chainlink. So fucking cringe and embarrassing. Chainlink Labs is becoming a safe haven for fucking morons.

>>51167388
>One hundred percent, that’s a well said Sergey, and so everyone’s aware for todays town hall we’ve basically compiled a list of larger questions and also a bunch of community questions for me to answer, some of the questions we even pulled directly from twitter, and so if those are your questions we’ll actually give you a shout out on the twitter space today, which is going to be awesome. And for the first question for you Sergey that I have, what’s next for the Chainlink network?

>Decentralization starts with one important thing... community. Which is why we have hired 100 random women by using the ChainLink Labs random number generator, a way to get a truly random number by using the ChainLink token.

>>51167400
>Sure, so what’s next is really a continual deployment, an increase in deployment of resources, increasing, continual increase in security, a continual increase in the amount of services, the types of networks, and the release of economics 2.0. All of that is going to require the deployment of more and more resources of various kind, and that’s what we’re basically doing now. So I think that Chainlink has become a standard for how to do oracle network based, decentralized oracle network, DON based computation and now that standard need to do more and more useful things in order to capture a greater and greater portion of applications and how the cryptographically guaranteed world works, right, so what we see more and more is that there are applications that start using the Chainlink network for one type of service like data or randomness but then they start using other oracle networks alongside. And so what that means is that all the types of oracle networks and all the types of services that applications could need, need to become available, they need to be secure and they need to have a net positive economic impact on the total Chainlink system - that is what we’re actively deploying more and more resources towards over time because you really kind of arrive at a position where you become the way the world works.

>>51167415
>So if you look how the financial system, the traditional financial system and even the Web 2.0 world works, you have certain core building blocks that everybody uses. Those core building blocks, once they secure sufficiently large amounts of value and once they’re a critical de-risked part of how systems and contracts work, they’re usually not removed. This is why, you know, thousands of banks, the banks still run something called Cobalt, they run Cobalt servers, its not because they love the Cobalt language, its because that system manages and powers billions and trillions of dollars, and so what we need to do is in this transition to a world powered by cryptographic truth, to the web 3 world, to the smart contract world, that world is a complete reformatting of value and so what we need to do now is beyond being the standard in any one category of services like data or random number generation or more and more automation in the form of Keeper, we actually need to make sure that all the categories get owned by the Chainlink network so that the applications that people build can kind of just be powered by Chainlink and be based on Chainlink oracle networks as a key building block. And it actually becomes easier and easier for people to adopt more and more oracle networks because they’ve already de-risked themselves by adopting their first oracle network from Chainlink, or their second oracle network from Chainlink.

>>51167311
I'm a Muslim man but I have to admit that pregnant Sergey really turns me on. I keep fantasizing about putting my seed inside him and watching new life grow... We get married, he gives birth, and we raise that baby under the blessings of Allah. I want to hold hands with Sergey, and looking into his eyes say 'I love you.' I think of myself taking our son to his first day at school, watching that strong and masculine boy develop amazing computer skills like his dad.

Sergey would be the ideal partner for any man wishing to start a family. His great genes give him a combination of assertiveness, strength, and intelligence. If Sergey is able to get pregnant, he has to have a uterus; if he has a uterus, he can only be a woman in the eyes of Allah. ALLAHU AKHBAR!!!

Ok, I can't hide this anymore. It's coming from deep inside of me... this desire to shout...

I'M A GAY MUSLIM AND I HOLD CHAINLINK! Yes, and I am not the only one. I was attracted to this community because of the feeling of brotherhood that it creates. Together we are one. We are above gender divisions and categories. Chainlink, as you know, is a gay sex position where men stick their dicks into each other's asses to form a link.

Today, I declare Chainlink to be the currency of the LGBT community.

I'M GAY AND I HOLD CHAINLINK. YES! I'M GAY AND I LOVE SERGEY! WOW! I'M GAY AND YOU ARE TOO! TOGETHER, WE ARE GAY LINKIES AND NOTHING CAN STOP US!

I'M GAY! AND I LOVE TO SAY IT! I'M GAY, I'M GAY, I'M GAY AND I WORSHIP SERGEY! CHAINLIK! CHAINLIK! CHAINLIK!

NO MORE CHAINS, JUST LINKS!
NO MORE CHAINS, JUST LINKS!
NO MORE CHAINS, JUST LINKS!

>>51167425
>So we need to deploy significant resources towards making sure those networks are secure, we need to deploy resources towards launching more and more of those networks, more and more of those different services so that a smart contract and a dApp isn’t just a contract with one oracle network for data, its a contract with like ten oracle networks, each of those oracle networks do something unique, whether that’s a computation, data, transfer of information or commands between networks and to solidify the networks, kind of, critical nature. The good news for us is that there is no source of oracle network computation that’s nowhere near as secure or reliable as the Chainlink network and there is no source of oracle network based computation that has as long a track record and secures nearly as much value. This can called network effect or in certain cases the Lindy effect or any number of other effect, but what it basically means is that we’ve arrived at a place where we are already the standard for certain types of computations, shown by you know enabling hundreds of billions in total value, shown by having anywhere from 50 - 90% of market share of specific verticals, and so what’s next for us is to solidify our position in relation to all these different categories of dApps by making Chainlink a computational resource that does more and more things, more and more data, more and more computation, more and more cross chain communication, so that eventually you’ll have dApps that are, you know, like 50% oracle network powered, 50% smart contract powered. And frankly we already see that dynamic taking hold, where there are multiple DeFi dApps that use multiple oracle networks to get computations, and to do things that they have to do in order to exist but which a blockchain does not provide and so that is the massive opportunity that we need to actively deploy resources towards.

>>51167437
>One hundred percent, and Sergey earlier, earlier in the convo you mentioned this thing called economics 2.0, can you dive into what economics 2.0 is and how that’s been evolving over time?

transcribe anon that you? doing G-ds work

OP is a literal god

>>51167449
>Sure, so economics 2.0 is really a, I guess a relaunching or an initial launching of the Chainlink economic system going in to kind of more of a productive state on certain dimensions, some of those dimensions are key dimensions. They are the dimensions around user fees and the dimensions around reducing costs. So generally speaking, the right way to build a large lasting technology is to make it the standard, to make it something that everybody agrees is the right way to do something, right, once everyone agrees that its the right way to do something, it becomes a lot easier to get people to pay for that because it becomes less of a choice and more of a necessity and generally speaking you want to be involved in providing necessities, and Chainlink and the Chainlink network definitely provides necessities; you cannot launch DeFi protocols without Chainlink oracle networks providing you reliable data and that’s very clearly proven because the blockchains where Chainlink oracle networks go live see a huge boom in DeFi activity and total value locked and the blockchains that don’t have Chainlink oracle networks continue to see relatively low amounts of total value locked, and that’s just the dynamic we’ve recurringly observed on multiple chains.

>>51167398
>Chainlink Labs is becoming a safe haven for fucking morons.

Head to the Philippines. I already fucked almost an entire family there:

1) the 18 year old daughter, this all started with her. she was dtf a foreigner. 1 hour after meeting her I was barebacking her in my bed.
2) her 22 yo sister that I met while "dating" the 18 year old, she went behind her sisters back to get my creampie. Sister eventually found out. Drama....but we still fucked regularly.
3)the gay brother who was a ladyboy, sucked my dick and swallowed. Fucked him in the ass since he begged for it. Looked a lot like his sisters. 39kg and 5' 2". Prostate orgasm from being pounded. Pretty cute.
4)the 45 yo mom. I had known all of them for about two years at this point and she was well aware of what I was doing to her daughters. I seduced her and came inside of her.
5) the 35 yo aunt. I got her pregnant since she lived like 10minutes away and came over every day after he work to fuck and get a creampie. She was surprised she got pregnant (again). I wasn't. My kid from her is 4 years old now.
6) aunt 2. Met me through aunt 1. I fucked her while aunt 1 was in the other room. She knew. Begged me to cum inside of her. Had baby rabies since her sister was pregnant at the time and it was making her jealous.

Their other brother worked at sea on a ship so I couldn't get my hands on him. Dad was dead and probably rolling in his grave.

>>51167466
>There’s many other examples where without oracle networks you really can’t launch, so you ideally would want a system that creates a necessity and not a luxury, which is what oracle networks are for making certain types of critical, world changing smart contracts and then ideally that necessity that is created by the network becomes the standard, it becomes the way that the world works so that if you want to be secure, and you want to hold peoples value and you want to convince people that their value is secure in your system then you just have to do this, you don’t want to do anything else because frankly anything else doesn’t provide you the same guarantees, the same security and in an industry where people are consistently getting hacked and they have [inaudible] that lose them huge amounts of value, you fundamentally need to have that security as a core property, which once again there is no other form of oracle network or off chain trust minimized computation that provides the level of security, the level of reliability and the historic history of success or the current total value secured or the current count of highly intelligent users that chose infrastructure based on security, right, so that was the initial goal, right, the initial goal was to arrive at this position of providing a necessity that is something that is a standard and by providing something that is a standard you get into a position where people naturally adopt what you make, you don’t necessarily need to explain it to them, its just something that they find on their own, right, they just ask a question on a forum or on stack overflow or wherever and they ask ‘How do I do X’, and you’re the right answer, right, and then you grow with the growth of an industry, right, so once you’re in a position of being the standard you will be able to grow or the network will be able to grow…

>>51167475
There are so many bots and derailers in these threads holy shit what is coming at SC22

>>51167489
>...with the growth of the industries in which it is a standard, right, so this has been the initial goal right, so the initial goal has been making sure that Chainlink becomes the standard. Its become the standard in many cases and so now there’s this additional goal of creating a economically sustainable standard that grows in size overtime based on user fees paying for greater security and as more users pay for greater and greater security, that basically generates an economic system, and that’s what economics 2.0 is, its the I would say inflection point at which the Chainlink economic system begins a new period of growth and that’s what, you know, I mentioned before about deploying resources towards these various initiatives around security, services and economics. So economics 2.0 is, in more detailed terms, about creating increasingly easy to use payment methods for dApps to pay user fees into the Chainlink economic system and the staking system, so its about increasing the amount of user fees that flow into the system both by tying them to greater security for users and by tying them to being able to use the system and tying them to an easier way for people to use the system by paying more easily, so its basically putting in place the mechanisms and the factors that enable people to pay, get them to pay for greater security in order for them to have a long term sustainable system that provides them a secure form of trust minimized off chain computation.

>>51167498
"KIKE NIGGER JEWS AGAIN!" Sergey roared stomping into his office decorated to look suspiciously like the Cayman Islands.
"What's the problem this time?" inquired Adelyn looking up from her wet dictionary with a jaded glance.
Rory and Thomas stood over in the corner by the coffee machine. Rory shrugged his shoulders, Thomas rolled his eyes and mouthed "not again" to Rory. Rory, not wanting to get involved in yet another morning 'incident', thought of his wife's son and all they had built together.
"Well..." Sergey began before staring into space for a solid 42 seconds. The others had grown accustomed to this inevitable delay and waited patiently.
"The media, in all their wisdom, cannot see the value of smart contracts; but flippantly share BLM bullcrap". “It’s like a torrent of shit published minute by minute hour by hour!” Rory and Thomas kept their poker faces while Adelyn blew a big bubble of blue HubbaBubba, seemingly immune to the rhetoric, possibly because she was an Asian woman on loan from the Chinese state department.
"And, what's worst," Sergey continued jumping up and down, his fat violently oozing, his chubby arms flailing wide around, "that Microsoft dude is coming today and I'm just not in the mood to talk about "how much I care about BLM"” Sergey fingered the air overemphasizing the quotes and the problem.
"Aww just focus on your oracles sweetie" said Adelyn cooing, "that's what he's come for. Try and stay focused!"
"yeah focused and 1keoy" thought Sergey. Out loud he said with a wink "You're right my little spelling bee, everyone come over here for a group huddle"
Rory and Thomas looked over at each other and sighed in unison and Adelyn complied with a ‘white people walking past you grimace’ expression on her face.
Each put their hands into the center, "One Two Three, We Just Win" they shouted together smiling the Smart Contract mandated smile

>>51167507
>And these discussions have been happening with a number of top users in DeFi and so far they’ve been going extremely well, where everyone is quite willing to pay for extending and increasing and improving their security and that tends to increase as the amount of value they secure increases, so the goal of the Chainlink economics 2.0 system is to make Chainlink itself sustainable for, you know, decades or into perpetuity and to tie that sustainability and that economic growth to the greater value secured by the industries in which Chainlink is a standard, right, so basically if there’s more value secured in DeFi people should be willing to pay for more security, which they are, and which they’re able to because if they secure more value they make more revenue, and therefore a portion of that should flow to the systems providing the security and providing the ability for those systems to operate. And this fundamentally benefits those systems, those DeFi applications and other types of applications because they have a reliable source of secure trust minimized off chain computation, that benefits the Chainlink network because the Chainlink network gets to continually grow both in the quality of data, the quality of its security guarantees, the amount of node operators, the amount of stake provided to guarantee that the transactions that are powered by Chainlink oracles are correct and accurate. All of those factors increase and to the benefit of dApps as more and more dApps and more and more smart contracts and more and more even web2 trust minimized applications pay into the Chainlink economics 2.0 system. So the first aspect is increasing user fees. Those user fees will flow to node operators, they’ll flow to stakers and they’ll flow to other Chainlink ecosystem participants.

>>51167522
>The second aspect of economics 2.0 is reducing cost, reducing cost has already started to happen in many cases through technical means, there has been huge reductions in costs over the past few years, we are starting, I wouldn’t say we’re reaching diminishing returns on that just yet but eventually the cost structure starts to come from other things, it stops coming from the efficiency that can be created in an oracle network and it starts coming from cloud server costs for different node operators or in todays case it comes heavily from blockchain transaction fees. Now oracles have become viewed as such a critical public good at this point that there increasingly larger amounts of blockchains that are willing and are providing blockchain grants to take the costs of providing oracle reports on their chain down to zero because they want to generate services rich, data rich environment for developers to build useful applications in their chain. And as we said earlier, you are kind of unable to build certain applications without oracle networks and many of these chains have a primary goal of having more and more applications built on their chain. So if the hurdle to that is having reliable trust minimized off chain computation, then in many cases, you know, the least they can do and they’re quite happy to eliminate the impenitence to that, namely their on chain costs through these blockchain grants and what that results in for the Chainlink network is that the cost basis for providing oracle reports goes to pretty much zero, the benefit to the chains is they get progressively more data, progressively more randomness, progressively more automation, progressively more services, progressively more cross chain communication because the cost of that becomes low and that begins to show how much of an important public good that oracle networks and oracle computations are.

>>51167533
>So basically economics 2.0 is about taking the kind of critical position Chainlink has as a standard and making sure that the user fees flow into the economics system in order to make it sustainable and to make it actually grow and to make sure that the participants in the economic system get a significant portion of those user fees as a result of being part of the system and then it is about reducing costs, and reducing cost to the point where each user fee eventually becomes something that isn’t covering the cost but its something that is going to an ecosystem participant that’s providing value to the system as a staker, or as a node operator or as some other participant. So this is, you know, the fundamental goal of economics 2.0, its very similar to how you see other standards work, is something needs to become a standard and then people become willing to pay for it. And I think we’ve definitely reached that point and I think its shown both by peoples willingness to reduce the on chain costs because the services are so critical and so valuable and through the willingness of multiple DeFi applications and non-DeFi applications to pay larger and larger amounts for larger and larger degrees of oracle network security. So that is fundamentally economics 2.0’s goal and our approach to it is to, you know, have different key ecosystem participants be a key part of Chainlink’s economics 2.0 system and for us to deploy significant resources to create the environment, create the kind of direction for the economics system, economics 2.0 system to launch successfully. So this is one of the main things that we’re working on now and which I expect there will be more information about at the SmartCon conference.

>>51167546
>Thanks for diving into economics 2.0 for us Sergey, next can you dive into what new services are coming up from the Chainlink network?

>>51167556
>Sure, so two of the main services that we’re spending significant time on are CCIP and DECO. CCIP is an extremely security sensitive service, as evidenced by I think its a billion or more in bridge hacks that have happened this year alone. So our goal with CCIP is not to release another bridge that can easily become manipulated and stolen from, there’s more than enough of those, our goal with CCIP is to very heavily validate its security because as long as long as other bridges continue to fail, which based on the designed we’ve observed there, they seem extremely likely to continue to fail, as long as those bridges continue to not provide the security that people need to chose any one of them as a standard then the bridge that does provide the security people need in a provable way will be the bridge that value inherently flows to. And that’s what you see with these bridges, right, is one bridge fails and value then flows to other bridges that have other, you know, maybe slightly better security claims, if they’re unable to deliver on their security claims then the value flows somewhere else. So just like we were able to build the first real oracle networks to deliver reliably usable data to secure tens of billions of dollars in value, which before our approach to securing that computation you simply didn’t have that computation and because you didn’t have that computation, people were not able to build DeFi that secures tens of billions of dollars.

>so, uh, yeah nigga, smart contracts are set to blow tha fuck UP here in about 2 weeks. If you got any extra cash or any spare change layin around that aint goin to yer baby momma, I say you get that shit in link ASAP fool. Seriously, I can't say mucb more because of under fkin NDAs n shit, but seriously we bout to drop staking dog and you know what the fuck that means. Peace

>go to warosu.org/biz
>search for "urine therapy"
>sort by oldest posts first
>shit brixxx

>>51167567
>We see the bridge world as a very analogous situation, where building a secure system with the best security primitives and using the most validated approaches is what is going to make the difference. That is kind of our approach to CCIP, its a complex question, where we have a lot of innovative features and its something that we’re working on getting into a beta on testnet so we can slowly roll it out with users and that they can understand how the security dynamics of a secure bridge actually work. So that’s the goal with CCIP, it’s not to rush it out the door, it’s to create the secure standard for how this part of the worlds off chain computation should work, right, so that’s the very clear goal there.

>>51167586
>DECO, is I would say the second thing we’re spending a lot of time on in the new services and the new parts of the Chainlink protocol that provide usable services to developers. DECO has certain privacy preserving properties for identity and glad to say we already have proof of concepts that are underway, some of which I think have been completed and many of which should be coming out sometime soon. And DECO’s usefulness I think will revolve around identity and the need for identity to create various, more advanced versions of even existing applications, so things like regulated DeFi come to mind and other types of applications that find identity data as a necessity. And if you folks have looked into identity data you will know that putting it on a public ledger is not realistic because identity data generally speaking is not meant to be public, you know, there’s all these laws from GDPR to HIPAA to a whole bunch of different other laws. So the goal with DECO is to create the technology that is the secure standard that allows identity data to reach applications and that’s something we have significant progress on and many things about that should also be coming out at SmartCon.

>>51167594
>Awesome, and Sergey we actually have a community question for you, [twitter fag] asks: ‘what use cases for DECO do you find most interesting?’ I know you just spoke about identity, are there any other use cases you are particularly excited about?

>>51167613
>I actually think that DECO is pretty generally applicable because its about proving things happening off chain without putting all the off chain work or all the off chain data on chain. So what DECO really provides is privacy preserving property, and an ability to prove things without disclosing them. And there’s a very large amount of things that need to be proven without being disclosed and that extends to the world of off chain computations, it extends to a huge amount of use cases. I think that the way the Chainlink network, you know, has succeeded so far is that it has provided very concrete services, so it has provided very concrete focused services as part of the protocol that have immediate demand and so that allows two good things to happen. It allows the protocol and the Chainlink ecosystem and Chainlink itself not to waste resources on parts of the protocol that don’t have demand or that will have demand in, you know, some number of years. And then if the initial version of a protocol provides in demand services, then it is very far ahead on becoming the standard as long as it can maintain the security guarantees for which it is fundamentally used, right, so I think what we’re arriving at is that this privacy preserving form of off chain computation in the form of DECO is going to initially be in demand from an identity point of view, which is gonna merge with the demand for identity information from industries like DeFi, and so that’s where ideas about things like regulated DeFi and other systems that require identity data to gain access to markets, right, so you really would ideally be in an intersection where the services that a network or a system is providing, they’re at the intersection of a highly growing market, you’re making a necessity and that highly growing market choses the necessity you make as a standard, right, and this is kind of the model once again.

>>51167623
>And then economics 2.0’s goal is once again to make sure that, that becoming of a necessary standard for that growing market or that growing protocol is something that flows user fees back to key ecosystem participants. That’s kind of, you know, the whole model. But for DECO, I think its identity data for DeFi, other than that I’ve seen one or two things for sybil resistance and I’ve seen one or two things where people want to do distributions of tokens or NFTs in a way that they have guarantees that those distributions are not going to fifty bots owned by one person, so I would say that, you know, DeFi, the ability to prove identity to make the application usable, and sybil resistance and I think sybil resistance is something that our industry doesn’t have enough of because you can’t necessarily prove things about people as easily. But that’s another thing that I think DECO could change and result in a lot of fair distributions and result in a lot of very positive economic dynamics for various applications that don’t want to give all their value to one person who has fifty thousand bots but actually want to distribute value to multiple ecosystem participants in a reliable way that achieves their economic goals. And so that’s, I would say I guess that would be the third category.

>>51167633
>Awesome, thanks, thank you so much for that Sergey. Another community question here from [twitter fag], he asks ‘Will events on one blockchain be able to trigger contracts on another blockchain using Chainlink oracles?’

>>51167645
>Ya absolutely, I think that, that’s one of the things we’re working towards with CCIP and that’s one of the things that makes it unique relative to other bridges. We are focusing on an ability to send messages and if you look at messages and communication I think you’ll see that that is really the core or one of the core building blocks of the internet, for example TCP/IP is a good example. So our goal is not just to make a token bridge, our goal is actually to make a messaging system that can convey commands both from existing backends to blockchains and between blockchains. So in a certain sense, CCIP is a kind of abstraction layer that can sit between all backend systems that want to use blockchains and want to use tens or hundreds of blockchains at the same time. And it is an abstraction layer between blockchains, and that’s because it is more of a messaging and a communication system that can communicate about many things, one of which is token transfers, the other things are indeed commands. So it doesn’t really make sense to me that in the web2 world you have all these different clouds where a web2 developer, a web developer, can use multiple services on multiple clouds, right, they can go use a service on GCP like BitQuery, they can use S3 on AWS, they could use some other service on Azure, and they can combine all of those services into their web application and nobody who uses that web application has any understanding or frankly any interest on whether the application is powered by Amazon Web Services or GCP or Azure, right, that is how people use compute cycles in web2 and realistically I think that’s how compute cycles will end up being used in the blockchain industry, is that people will simply use the best system for their compute cycles.

>>51167655
>And some of the systems out there will be the best because they provide the most [inaudible] you know Ethereum’s a good example, Ethereum provides an immense amount of security relative to many other systems and so there might be certain computations that you absolutely want to do on Ethereum because you value the security properties of that system. But there might be other computations that you want to do somewhere else for whatever other collection of reasons. Maybe that environments built for that or many there’s a service there or something. So the goal for us is to accelerate our industry, right, like if you look at market data, automation, Keepers and at CCIP, you’ll basically see computations that accelerate the creation of entire new industries and those new industries go on to, kind of, define the value of a cryptographically guaranteed world and a cryptographically guaranteed society for more and more people. Right, so there are people who came into the blockchain industry and into the idea of having a cryptographically guaranteed world and society from DeFi, and they came into DeFi because DeFi was a use case they found attractive. And so every additional service that we are able to make possible [inaudible] and instrumental to this cryptographically guaranteed format and that once again has a huge net benefit, pushing the entire Chainlink system [inaudible] because [inaudible, Sergey getting ddos’d] then chances are the standard for that, right so the way to think about this is if people wanna send commands to various blockchains they could send those commands through CCIP whether those commands come from an existing system or whether they come from another blockchain. The real question is how do you reliably and securely create communication between blockchains and everything else including other chains, communication on pretty much every topic for any and every purpose. So hopefully that answers the question.

>>51167668
>Thanks Sergey. We got a hot one from [twitter fag], he asks: ‘when and where do you see major enterprises start to go from standard contracts, paper promises to smart contracts using Chainlink services?’

>>51167680
>There’s a pretty simple framework I have for this, I think there’s about three questions. Question number one is: how much urgency does the enterprise have to do this? Are their users demanding it like they were demanding crypto custody? Is it something that allows them to differentiate themselves from other services by, you know, saying they cryptographically guarantee things and that’s valuable because there was a recent failure in their industry? Right, like one of their competitors was insolvent and they could prove their solvency to users and gain market share, right, so the first question is urgency. What is the urgency of enterprises to become cryptographically guaranteed and trust minimized. The second factor is how many parties do you need to actually adopt the same technology, so how many different parties, different groups, different counter parties. An example is trade finance. Trade finance, for a trade finance transaction you need five, six, seven parties to get involved, and all get on the same system, so that’s pretty tough. For a derivatives transaction, especially peer to peer derivatives, you only need two parties - the two parties involved using the derivative. Maybe you could argue you need a third party in the form of a technology platform, but its a pretty minimal amount of parties relative to other options.

>>51167692
>And then the third factor is: how digital is an industry already? So if an industry is, once again, like trade finance and I keep going back to trade finance because I’ve tried for years to work with people in trade finance on blockchain adoption. And I discovered that they we actually not even trying to adopt blockchains, they were trying to adopt digitization, so they were still sending around literal paper contracts by bike messengers, with little ink stamps on the contracts and those things needed to get delivered in order for transactions to continue. So if you’re trying to take an industry from being truly paper based, not like figuratively paper based in that its a digital agreement with the paper legal guarantee behind it, but like literally paper based, that is a bit of a climb, right, so lets think about you know the industries that have these properties. The financial industry generally speaking has a huge amount of trust issues which creates the urgency for them to adopt blockchains and smart contracts and oracle networks as a way to prove to the counterparties that they should transact through a system with those guarantees. Generally speaking in many parts of finance there are minimal amount of counterparties and much of finance is already digitized, right, much of it is already in digital form, functioning through SWIFT messages, FPML, CAA messages and various other types of digital messages and digital state machines that record financial state and financial contract settlement and outcomes.

>>51167706
>So for that reason the finance industry I think is the right place, where for this stuff to take off and continue to take off, there’s been recent announcements by things like the DTCC about their increasing adoption of ledgers in some pre-production environments and there, I think are going to be more and more announcements from banks and certain banks that we’re working with to utilize the Chainlink network in various meaningful ways. So I think that the finance industry is the first place, I think that the finance industry, which by the way is hundreds of trillions of dollars industry, if you count derivatives as part of the finance industry. I think the finance industries adoption of blockchains could become rapidly rapidly accelerated if the brands that make up finance renege on their promises, and there is a history of global financial markets being so tied together and having so much kind of systemic risk, where when one part of the market fails other parts start to fail, that you go into these dark periods where the collective conscientiousness of really the whole world begins to doubt the brand promises of financial things and you already start to see this through inflation and peoples questioning of what fiat money really means and how fiat money really works.

>>51167715
>And I really think that’s only the beginning, that could be the tipping point factor, it could be one of the exacerbating factors but the amount of negative systemic risk issues that the financial industry has accrued since the 2008 financial crisis has actually become much greater with the amount of financial and systemic risk issues than they had before, right before the 2008 financial crisis. And this suggests very clearly that the correction, to put it lightly, that will be coming in the global financial system will be large, and if that correction is large it will add that key ingredient of urgency, where people will need to prove how their financial relationships and financial transactions cannot be reneged on. People will begin to demand proof that their money is safe in a bank. They will begin to demand proof that insurance companies have a forcing function making them pay. And they will begin to demand proof on any number of other topics which traditionally were guaranteed by a brand. And so I would say that enterprise adoption depends on those three factors, the finance industry is in a position to be the largest market and the fastest moving market but frankly its very difficult to say because there are always other industries where people realize the value of blockchains and kind of run towards that value and you saw that with digital art, with NFTs and you saw that to a degree with gaming, though I think the ability for gaming companies to compete with each other by giving people true ownership and true control and certain guarantees about their gaming relationship not being changed, is a place where I see more and more gaming companies seeking to compete. So its finance and then large gaming companies I would say are the two main categories.

>>51167729
>Thanks Sergey. Another community question for you, [twitter fag] asks, ‘can Sergey expand more on Chainlink as a public good and what that looks like from a high level perspective’, and then kind of a part two to that, ‘how can you see Chainlink as a public good for the broader web3 ecosystem?’

thanks anon kun

never give up

>>51167750
>Sure, so I think the pinnacle of creating a technology is that it becomes a public good or a globally adopted standard. So if you look at the internet, you see a few technologies like TCP/IP, Linux, SSL and a few others that underpin how the world works. Those technologies have not always had an economic system that allows value to make their growth sustainable or to solidify them as standards. But nonetheless they have become world changing standards. I think the amazing thing about the crypto industry is that once you create a standard in the crypto industry and once you create an economic system that flows a fair share of value to that system and to the participants in that system that allow it to operate properly. You create something with even more longevity because there is a huge amount of economic support for the system to just [inaudible] kind of escape velocity that’s unapproachable by other [inaudible]. So I think that public goods are really the greatest achievement that somebody can have when working on a technology. Some people arrive at that achievement through an academic path, some people arrive at it through an engineering path and some people arrive at it by organizing projects that make that technology. [Sergey disconnects for 2 minutes]

>>51167764
>Hold on guys, I think we lost, we lost him…. I’ll try to get him up here, reconnect…. Haha, standby guys, I think I’m gonna try to get him back up here, reconnect, but in the meantime thank you all for tuning in and listening, just appreciate the amazing support from the community, its insane to see how many people are here…. Standby, still trying to get him back in here, I think he is still experiencing some connectivity issues…. Hey Sergey, can you hear us?

>>51167784
>Ya I can hear you, can you hear me?

>>51167795
>Ya you sound good, sorry man sometimes Twitter, it..

>>51167807
>Ya sorry about that, it seems I spoke too soon about Twitter Spaces. Sorry about that.

>>51167820
>Hahahaha

>>51167828
>Ya, where did you lose me?

>>51167839
>Kinda like halfway through, I think we got the gist of it though.

>>51167855
>Ok but at what point did you lose me?

>>51167866
>Almost right at the beginning it started chopping out..

>>51167879
>Can you tell me what I was saying when you lost me?

>>51167897
>Hold on a sec

>>51167916
>Ok -

>>51167926
>I think people, I think people couldn’t hear most of the conversation, a lot of dm’s saying they couldn’t hear you the whole time

>>51167941
>Right, fine so I guess just the, I’m not sure what people did and didn’t hear, I would just say that the world is underpinned by public goods. I’ve been influenced by that from my very young youth, back when I was using like a computer with two colors, the screen was like orange and black and it used like these really thin big floppy disks, not even the small floppy disks, and since then my life and everyones life has been influenced by public standards and public goods that have made the internet possible and so I think that that is what Chainlink really is, is that its a public good that changes that way that the world approaches the concept of truth and the way the world creates commercial and economic relationships between people. And so our fundamental goal is to turn it into a public good like SSL or HTTPS, sorry those are same thing, Linux, TCP/IP, so on and so on, but the unique thing about our industry is that economic standards in our industry can take their fair share of the value they create and that allows them to become even more sustainable and solidifies their position as a standard to an even greater degree as long as the resources needed to make them a standard are properly deployed in the early days. And so our goal is to create the standard that becomes this global public good that gives rise to an entirely new cryptographically guaranteed world, which we’ve already done in certain categories of activity like DeFi.

>>51167954
>Thanks Sergey. Right now I also see that we have a lot of new faces in the audience, just wanted to do a quick plug here for those who don’t know, on September 28 through 29th Chainlink is hosting the main event for SmartCon in NYC where people can come and learn about latest web3 developments directly from researchers, developers and founders at the forefront of the blockchain innovation, for the first time ever this conference is in person and Sergey you will be there too, which I know the community is very excited about. Can you tell us like what you’re most excited about for SmartCon this year?

>>51167967
>Ya I mean there’s a huge amount of things going on there, I think there’s a lot around economics 2.0, things about adoption, blockchain grants, I mean there’s a multitude, a multitude of different things going on there, which you’ll have to go to the conference to find out. I think we’re trying to make it an event where a lot of people will get to meet up and I think there are a lot of events around SmartCon as well, in the days before and after where people will get to get together and talk and meet on various topics as well. So, you know, I think there’s too many things to count that are going on there and frankly if you’re interested in those things you should go and see them at the conference and all the other events surrounding the conference.

>>51167977
>Absolutely and anyone in the audience interested in going and securing your tickets you can go to [website], again that’s [website]. And the last thing I want to cover around SmartCon is we’re actually holding experimental treasure hunt for the most knowledgeable and engaging community members, the grand prize for this is a one of a kind adventure, its a lifetime ticket to SmartCon with two day lodging covered in perpetuity, official rules and conditions to come soon on the [website] for this treasure hunt. But now listen closely, I will give you all the first clue, and that clue is: the missing link. Again the clue, the first clue is: the missing link. Good luck finding the key to SmartCon and Sergey thanks again for the time to come on the Twitter space today, really appreciate it.

>>51167990
>Absolutely, thanks for having me and good to see or speak with all of you here virtually, excited to meet many in person at the conference and as always thank you very much your understanding of what we’re doing and you’re continual support, I think it makes a big difference and I think we are going in the right direction to achieve those large goals we discussed and I think its something we should all be proud to be a part of, so thank you all very much once again.

>>51168000
>Thanks everyone, have a great rest of your day wherever you’re at and I’ll see you guys next time

>>51167233
>>51167311
>>51167355
>>51167388
>>51167400
>>51167466
>>51167522
>>51167533
>>51167633
>>51167655
>>51167855
>>51167866
>>51167977
>>51168000
Checked.

>>51167291
thanks fren
>>51167311
checked, sorry to dissapoint!
>>51167331
there is a lot of hope, thanks fren
>>51167450
based thanks for stopping by
>>51167462
thats quite nice thank you
>>51167498
you take fire when you're over the target, or something like that
>>51167751
thank you, never ever

>>51167839

>>51167954
>I would just say that the world is underpinned by public goods. I’ve been influenced by that from my very young youth, back when I was using like a computer with two colors, the screen was like orange and black and it used like these really thin big floppy disks, not even the small floppy disks, and since then my life and everyones life has been influenced by public standards and public goods that have made the internet possible and so I think that that is what Chainlink really is, is that its a public good that changes that way that the world approaches the concept of truth and the way the world creates commercial and economic relationships between people.
I really appreciated this personal note from Sergey and the insight into his motivation in helping create Chainlink

>>51167866
>>51167879
best fucking part

>>51168145
that is a really good quote
>>51168198
kek that exchange was spectacular

>>51167233
Checked, based OP.
>>51167498
>holy shit what is coming at SC22
The singularity.

>>51167954
based

>>51167233
Bump

>>51167855
>>51167879
>bringing on a guy named mewtwo
Own damn fault

thanks op, my autistic brain appreciates being able to read over having to listen to a laggy twitter spaces

>>51167926
FUCKING KEK THE LARGER PICTURES WITH ANGER YOU JUST KNOW MEWTWO STARTED SWEATING

>>51172279
tbf, I think mewtwo didn't actually give a shit

>>51172310
He wasn’t able to comprehend anything Sergey said and I could tell. I was listening in. To be fair most people Sergey is interviewed by aren’t able to wrap their heads around the bigger picture of what Sergey is aiming to achieve. Definitely agree with that other anon though and having a fucking twitter crypto personality named after an overrated Pokemon probably wasn’t the best decision.

>>51172323
>crypto personality named after an overrated Pokemon
would you be satisfied with a properly rated Pokemon instead?

>>51172385
Yes Crypto Bidoof would have clearly been a better choice.

what making someone to doing this? Stupid wasting time type all of word for what or for who? Idiot idiot idiot.

>>51172417
Crypto Grimer, just fucking mukin it up

>>51169628
thanks fren
>>51171039
thread saving bump, hero
>>51172128
no problem fren

Whole thread is some glownigger spamming 65 posts about the latest globohomo narratives

Disgusting shill

OP do you have a link to this conversation?
This is gold

>>51173746
yes some smart anon recorded the spaces, chainlink uploaded on their youtube but with 7 minutes less content to they must have edited it
https://vocaroo.com/15mmqEmeESqt

>>51167233

based

>>51173321
>tourist fudder doesn't know about transcribe anon
go away please

>66 posts by this ID
Holy fucking schizo batman mods do your fucking job.

Based OP

>>51167926
>>51172279
FUCK, I was sweating too! I was casually listening and trying to remember the last point he made before cutting out and I was stuck. I felt like I let the big man down even though I was just listening...

>>51173913
>>51174034
>>51174750
>>51174804
based frens
>>51175102
kek, same fren

Toasting in epic bread

>>51167425
Cobalt should be COBOL. Thanks for your great work.

>>51167926
almost feel bad for him. twitterlinkers are some of the biggest retards in our community, as you can see by how many of them lost money in bancor and celsius, but twitter is the only way for sergey to officially interact with us.

>>51176972
sergey unironically got this wrong in the talk, check the audio. he repeatedly said 'cobalt' when he was clearly talking about cobol. its over for linkies...

>>51176972
good catch thanks for pointing it out
>>51176827
based

>>51177955
>>51177650
>>51176972
https://www.youtube.com/watch?v=0dsjioopk9w&t=340

timestamp, he clearly says "cobalt" even though he's talking about the cobol programming language

>>51167233
>TheCryptoMewtwo
Just sold

>all this fud
>all this fake hype
Anyone who actually bought knows a huge release is coming before smartcon, and it might dump a tiny bit, but only before the inevitable release of staking starts drying up the supply.
>but muh
I don't give a shit, they're aligning with the merge and seem to be designing their own fucking chain. It's over, fuck off. The FUD isn't even funny at this point, now it's just fucking annoying.

>>51178388
they won't need a new chain, [redacted] works on top of the underlying chain architecture (which is why it's so amazing)

>>51178388
checked and based

bump

by the way, we had a suprise sergey presentation today at the stanford blockchain conference. for now this link works and go back an hour from now. if you see this post in thirty mins, then go back 1 hour 30 mins... you get it
https://livestream.com/accounts/1973198/blockchain-2022

based have a bump

>>51181397
kek at the pajeet right after sergey

>>51167522
>So the first aspect is increasing user fees. Those user fees will flow to node operators, they’ll flow to stakers and they’ll flow to other Chainlink ecosystem participants.

>>51177650
>>51178001
this just shows he doesn't really know about COBOL, he's just paying lip service to muh disruption and muh antique bank servers

which is fine i guess

>>51167233
Thank you scribe anon.

>>51168078
Thank you, very based transcribe-anon.

>>51182106
>>51182940
based
>>51183633
checked glad you all are here!