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/biz/ - Business & Finance


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5291014 No.5291014 [Reply] [Original]

https://www.instagram.com/p/BcggdF7DgXV/

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https://blog.zeppelinos.org/chainlink-partnership/


>ChainLink is the ideal partner for trusted oracle services

>ChainLink bridges smart contracts to key off-chain resources like data feeds, APIs, and payment systems. Partnering directly with them provides several benefits:

>1. Proven oracle services—ChainLink has a strong record of execution when it comes to building trusted and secure oracles for major decentralized applications. Our partnership means that our oracle integration will be backed by the industry’s leading experts.

>2. Faster development—Outsourcing to a veteran oracle provider means that our team can focus on platform development rather than creating the oracle’s infrastructure.

>This partnership will allow each team to focus on what they do best. ChainLink has a proven record of execution with trusted oracle services, while our team at Zeppelin has expertise in smart contract security and development infrastructure. Our team’s have worked with each other in the past, and this agreement helps solidify many of the core components of the zeppelin_os platform.

>> No.5291096
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5291096

>>5291014

Oracles are going to be crucial to the smart-contract ecosystem over the next few years. Here are some basic, non-delivery examples of what exactly an oracle can do:

1. Smart-Contract Securities – These need specific, secure, up to date market data feeds whether it's a security price from the Bloomberg network, or interest rate data from retail banks, etc.

2. Smart-Contract Gambling – These contracts need tamper-proof data feeds that relay the results of events such as sports games, horse races, and whether or not another Hollywood starlet has molested a kid.

3. Smart-Contract Insurance – These contracts need data feeds related to insurable events such as whether a firewall is up throughout the life of the contract. (This was an actual test case successfully running on the Chainlink testnet for the last several years).

4. Smart-Contract Payments – These contracts would need an oracle to supply specific data regarding salaries in order to accurately pay out on time or release escrow from widely adopted payment networks such as SWIFT, PayPal, etc.

>> No.5291167
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5291167

>>5291096

Right now, there is no simplistic, trusted manner to conduct on-chain smart-contract to smart-contract transactions that require Oracles. Chainlink is one of a kind in this regard and the only project presently tackling this particular problem in a decentralized approach which gives it a first mover advantage.

Chainlink is the key to secure, reliable smart-contracts and will allow for the ecosystem to simulate or replace the vast majority of financial agreements in the traditional finance space.

You want to create a distributed gambling or sports betting application? You can use the Chainlink network to pull PredictIt data and other public API results. The online gaming market had a volume of 50 billion this year and even 0.1% of that market flowing through Chainlink would be around 50 million dollars in transactions.

You want a decentralized exchange that can accept deposits directly from banks? You can use Chainlink oracles to send SWIFT payment messages back and forth to affirm account details and settle the transaction accurately. There are currently around 30 million daily SWIFT messages, even 0.001% of that volume going to smart-contracts would be 110,000 transactions on the Chainlink network a year. How much money would that be? SWIFT conducts over 1 quadrillion dollars (yes, that is correct, it is actually closer to 1.25 quadrillion) in transactions a year, even a tiny fraction would be millions, if not billions.

>> No.5291378

So what will be the most worthwhile action? Holding the tokens and staking them for passive income? Or selling your stack once you hit your price goal?

>> No.5291409
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5291409

>>5291096

>> No.5291434

>>5291378

Definitely hold long term, 2-5 years at least.

>> No.5291681
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5291681

I sold it all at 24 cents because biz said it would dip back to 15 cents. It's still at 37 cents even with the announcement at the worst possible time during the bch fiasco.

>> No.5291726

>>5291681
just sold m8, it's probably going to drop when they aren't mentioned in the swift update