/biz/ - Business & Finance

absolutely. the real question though is why would swift or anyone with unique data need any tokens? you have to trust them with the data anyway, because theres no other way to get it on the network.

the most valuable data has the least need for tokens.

>>8060956
If you can't even get your head around this basic shit you should just not buy any.

>>8060956
Link is a classic case of over decentralization

There is inherently some trust involved in accepting data from a particular source. The ONLY "Oracle problem" is getting that data to the blockchain.

Link creates an entire fucking decentralized network just to make the equivalent of a mail delivery.

It's retarded. Something like oraclize is fine. Just deliver the data and provide authentication proofs.

Literally no decentralization here is necessary. No token is necessary. LINK is a meme. This whole board is retards

Congratulations OP, you figured it out before you were left holding a worthless token. Dump it while you still can.

>>8061002
>you need to read the whitepaper brah

>>8061040
No, you don't need to. It's too much effort, too much reading. Just don't buy any.

>>8061097
If you can't explain why token is necessary, propably you don't have enough information too.

>we need to pay data providers and node operators

Well, they can be payed with ether too.

>>8061154
If they are paid in ether how will the developers make money? You expect people to do all this work for free?

>>8061031
Thanks for your reddit spacing. "Over decentralisation" LMAO. If something like Oraclize is fine, then why isn't a centralised reconciliation mechanism "fine" compared to a smart contract? Why are you even talking about crypto if you feel that way?

>>8061154
LINK is blockchain agnostic

>>8061031
>oraclize is fine.

>>8061333
>>8061183

>>8061450
>we are far from a central point of failure
Imagine having the audacity to say that, when that's literally exactly what you are.

>>8061189
I understad. So, that's the reason?

>>8060956
Fuck off faggot. My linky stays rather stinky

>>8061031
> no chainlink scenerio:
> anon sets up smart contract in Vegas stating that anon will receive 10btc if Warriors win nba championship
> Warriors win nba championship
> Vegas bookie manipulates single centralized nodes to make it seem like warriors didn't win. anon fucked.
> link solves this

>>8061967
How?

>>8062011
link uses several oracles to communicate the offchain information to the blockchain so it becomes decentralized and it doesnt matter if one becomes compromised. read the whitepaper

>>8062047
But how will that help the warriors win? I don't think the NBA pays out in crypto. might not be understanding.

Can you link the white paper?

>>8062090
go to smartcontracts com

>>8060956
>daily why use tokens thread
Fuck off.

>>8062047
Ok, but link has no control over API information. And the number of offchain information depends on how you programmed the smart contract.

>>8061031
>>8061325
>>8061450
>>8061507
>>8061967
>>8062047
>>8062293

Guys, we don't have to convince ourselves, we're good. These brainlets don't deserve a easy explanation, they can read the whitepaper themselves or GTFO.

We don't want retards to make money and we want them to neck themselves when they see the singularity price, when they had MONTHS to buy some.

>>8062362
Meanwhile

> LINK $0.666288

>>8060956
If you don't understand you need to keep studying. This isn't hard

>>8062501
> ETH $0.70 (2015)

Stop being impatient and wait for adoption and organic growth.

>>8062293
pages 11-13 of the whitepaper
>distributing sources
>distributing oracles

>>8061002
Name one real world application.

I'll wait.

>>8062730
There are none. Sell.

>>8060956
Why the fuck is ether even necessary? They couldn't do the fucking platform without it and pay node operators with btc?

>>8062730

>>8061967

>>8062794
/thread

>>8060956
damn, you know your shit.
I appreciate the research you've put into this, and thank you for sharing it. I hope others seriously consider your warning

>>8060956
You could

>>8062862
integrate a dapp like this into EOS (which also natively ports ERC20 Tokens and the Ethereum Virtual Machine) and it would cost nothing and not need its own token

>>8060956
you're totally right dude. sell all ur link

>>8060956
Chain Link Tokens are the only way to get paid for providing node data.

>>8060981
If you want to buy data you need to buy LINK to buy it.

If you want to provide data you need to own LINK.

>>8061031
>something like oraclize is fine

Except when there servers shut down.... not so good for oraclize users when that happens.

Meanwhile with LINK they can just switch to another provider

LINKIES STAY SUPER STINKY $1,000 EOY

>>8062794
How do you pay people bitcoin when you don't have any bitcoin. You think they're going to run a business that costs them money? You think anybody would start a business based on buying bitcoin and giving it to people? No. The need for their own token to pay out the node operators is beyond obvious. That's like if bitcoin mining mined US dollars. Retard.

>>8062730
One possible application that seems really cool is the ability to trade derivatives without needing an exchange.

For example, you could trade options via an ethereum smart contract. The smart contract would use chain link to retrieve market data. It could potentially use multiple sources for market data (that is, multiple chain link nodes) to ensure accuracy. Options would then settle based on the stock price at the time.

This is a procedure that normally requires a centralized exchange. Before smart contracts and ethereum, trading derivatives without an exchange and without counterparts risk was unheard of. Now it is very possible.

>tfw you realize they really will shadowfork link and give it away for free while stinky linkies pump and dump on eachother

>>8062944
checked, just bought 100k

read the fucking white paper you fucks

You can ask the same question about any blockchain dApp or protocol. The answer is quite simple: The minute you introduce a centralized component into the end-to-end function of a smart contract, it defeats the entire purpose of blockchain: decentralization. Chainlink ensures that smart contracts remain trustless throughout the entire dataflow.

>>8062983
Why the fuck is bitcoin even necessary? They couldn't do the fucking platform without it and pay node operators with usd?

>>8063280
Why the fuck is usd even necessary? They couldn't do the fucking platform without it and pay workers with bread?

>>8063323
Why the fuck is bread even necessary? They couldn't do the fucking platform without it and pay workers with the flesh of other workers?

>>8061031

>>8061031
Hahahaha

"Sorry, Esteemed senior management. Oraclize was hacked you see and your 300 million dollar contract executed on false data. What? No it is already gone sir, again we’re so sorry."

where'd all the anti-linkys go

>>8062090

you better be larping you fucking handicap

>>8062090

Yes!
>>8060956
As a matter of fact the LINK ERC20 is completely useless and the network could and would willingly switch without any friction to the Ether token at any time this is why the SEC will shut down Sergey the known scammer's shady operation before or possibly during the SXSW by SWAT. Swift never wanted us to know about it in the first place but they're set now that they control the majority of the Shadow Fork tokens. One word: SIBOS 2018

>>8061826
No. It also creates a free floating market that will settle on the most efficient market price for data. Supply and demand 101.

>>8063082

where is it? i have never seen it linked anywhere

>>8063625
Wrong image, ignore that one.

>>8060956
No, the ETH network has nothing to do with the oracle network aside from its interface to it. But I know this was FUD to accumulate so you're forgiven for making this

>>8063644
https://link.smartcontract.com/whitepaper

>>8063625
sergey just confirmed at bitcoin supercon that the token will be used to incentivize node operators

>>8061826
There needs to be a unique token so that there is a predictable pool of liquidity and oracle services in the network. It's also important for establishing healthy competition and dedicated node operators.

>>8063439
Underrated post of the thread

>>8061826
Also, staking.
Oracles will be considered more trustworthy if they have a larger stack of link. Oracles with larger stacks of link will be less likely to undermine the integrity of the service they are providing.
If eth was the currency, it wouldn't require buyin. Someone with a large eth wallet would be able to start reporting false positives and not undermine their position, just the service provider.

>>8062362
This tbqhflgbtq+