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/biz/ - Business & Finance

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ANSWER to MUHH SINGLE POINT OF FAILURE CHAINLINK Anonymous Sat Apr 28 11:14:18 2018 No.9138003 [Reply] [Original]

>what are oracles?

with, so it is reliable. However, this may be delivered on a ‘trusted’ network that is tamper proof, but that does not require a blockchain, z decentralized oracle netwrok provide s tamper proofing.

Sergey discussed the need for smart contracts to have access to ‘data feeds’ in order to execute their logic. As an example, if a smart contract is supposed to pay someone $500 when a building permit is filed, the smart contract needs to be able to tap into some data source that informs it of this.
If the data source is a simple API from a single source, it may be at risk of being compromised or being inaccurate. If the result is payments automatically being paid in error, this could be very bad. This is where the notion of an ‘oracle’ comes into play.

An Oracle is designed to be more than ‘just an API’. They will include a rating so that its accuracy and usage could be seen, and may in fact collect data from more than just one API so that the data can be more highly trusted. Need a maximum amount of trust? Use multiple oracles. The ‘Chainlink’ technology is being built to deliver this. So, if you want to rely on some data feed to make your payments, you will choose an Oracle over an API every time. Especially for automated contracts.

>>	Anonymous Sat Apr 28 11:14:55 2018 No.9138010 File: 61 KB, 740x503, Screenshot 2018-04-27 at 11.36.55 PM.png [View same] [iqdb] [saucenao] [google]

>>	Anonymous Sat Apr 28 11:18:03 2018 No.9138056 File: 147 KB, 864x559, IMG_20180428_003515-02.jpg [View same] [iqdb] [saucenao] [google] >>9138003 Okey. Im sold.

>>	Anonymous Sat Apr 28 11:19:27 2018 No.9138072 >>9138056 people need to understand that orcles are not APIs, they actualy solve that one source problem

>>	Anonymous Sat Apr 28 11:19:44 2018 No.9138076 The answer is actually much simpler. READ THE GODDAMN WHITEPAPER

>>	Anonymous Sat Apr 28 11:20:36 2018 No.9138084 >>9138076 too complicated for brainlets

>>	Anonymous Sat Apr 28 11:22:35 2018 No.9138107 File: 41 KB, 1107x430, Mobi.jpg [View same] [iqdb] [saucenao] [google] >>9138003 but you're missing something. Mobius is faster, cheaper and safer, so naturally the choice will be Mobius.

>>	Anonymous Sat Apr 28 11:23:29 2018 No.9138123 HTTP is a single point of failure

>>	Anonymous Sat Apr 28 11:25:20 2018 No.9138148 >>9138123 thats why it has external adaptors so you can fetch the data with any damn protocol you want to.

>>	Anonymous Sat Apr 28 11:30:07 2018 No.9138204 File: 273 KB, 1013x1000, pink link.png [View same] [iqdb] [saucenao] [google] >>9138003 FUUUUUUUCCCCKKK NOOOOOOOOOOOOO MY LINKIEEEEEEEESSSSSSSSSSSS

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Anonymous Sat Apr 28 11:30:16 2018 No.9138207

>>9138107
Token transaction speed in irrelevant. The network is all that matters, and poobius only has a plan for a centralized oracle that connects to their joke of a dapp store. Chainlink offers a decentralized network of oracles that will eventually replace hundreds of thousands of jobs in multiple industries. Not competition in any way.

>>

Anonymous Sat Apr 28 11:33:54 2018 No.9138243
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>>9138207
wrong!

>Mobius’ Patent Pending Proof of Stake Oracle Protocol reduces the Blockchain Oracle Problem into an oracle-arbiter consensus & coordination protocol. Our Proof of Stake Oracle Protocol is designed using a tiered federated byzantine agreement system that minimize trust and allows for the coordination of chains of events (data transfers) between multiple parties unlike current solutions which are akin to internet certification authorities and only coordinate single events between two fixed end users drastically limiting the use cases of such implementations. Mobius’ protocol allows participants to select trusted oracles from indexed listings in our market of competing oracles and then automatically builds tiered slices attaining quorum that are capable of attaining consensus while minimizing trust. Oracles compete on quality and are segmented into tiered levels in order to overcome the market for lemons problem and provide a transcendental quality differential. Consensus solutions at equilibrium exist inside the Shapley-Shubik core and limit collusion amongst oracles. The protocol is designed to protect against Sybil attacks and functions even under a coordinated 51% attack. The most important feature of the protocol is this asymptotic fault tolerance & security which guarantees ease of scaling due to Metcalfe’s law. In fact our decentralized network of oracles become safer to use, with ever lower levels of trust as we scale up.

>>	Anonymous Sat Apr 28 11:35:40 2018 No.9138264 >>9138243 Mobius FUD was so last December.

>>	Anonymous Sat Apr 28 11:36:11 2018 No.9138272 File: 52 KB, 600x447, 1937321.jpg [View same] [iqdb] [saucenao] [google] >>9138243 poo wins again. LINK btfo >1trillion mcap >expecting price to ever reach 5 dollars Pick one OH WAIT A SEC; THEY EXPECT $1000...EOY TOO!

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Anonymous Sat Apr 28 11:37:20 2018 No.9138287

>>9138084
I feel bad when people say this. In all these coins and tokens there's stuff about security, economics, system architecture, game theory... and everybody is supposed to be an expert on all of that when not even the experts on those fields agree on how things are going to work in the future.

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Anonymous Sat Apr 28 11:40:27 2018 No.9138323
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>>9138264
if you feel fear uncertainty or doubt about Link, I can understand. there is a better project with a better team staring you right in the face, but you're so emotionally invested in your shit coin that you can't see the truth. Link is trash, they have zero partnerships, and the team isn't capable of pulling this off.

>>	Anonymous Sat Apr 28 11:41:32 2018 No.9138334 File: 151 KB, 913x1023, chaaiinlink.png [View same] [iqdb] [saucenao] [google] chainlink protocol itself is a single point of failure.

>>	Anonymous Sat Apr 28 11:43:12 2018 No.9138354 >>9138323 lol mate, i do my own research i dont need you to try and get me to sell my bags. anyone who falls for this shit im sorry for you missing out on the biggest moon mission of the next 2 years.

>>	Anonymous Sat Apr 28 12:15:12 2018 No.9138811 File: 103 KB, 864x559, Linkyneverost1000.jpg [View same] [iqdb] [saucenao] [google] >>9138003 Damn. I cant sold this shit even for 0.00068 eth.

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Anonymous Sat Apr 28 12:18:02 2018 No.9138843

Here you go faqs !
Exit ASAP !!!
Ha ha ha ha ha !!!!
Cought you fucking pasta posting pajeets redhanded !!
Read this fucking thread
>>9134876
and cry poo-tears !!
CL (shit on it!) is fucking worthless !
Can't bring decentralized and trustless data into the blockchain lol because the smartcontract creator has to choose APIs, thus making the whole CL (shit on it!) project worse than fucking Mobius, not to speak about Oraclize.
>IT IS NOT TRUSTLESS NOR DECENTRALISED, FAGGOTS !
You fucked up skizos got literally fucked in the asses by a faggot who calls himself Assblaster and there is nothing you can do about it but circleshit in eachothers mouths !
Motherfuckers !
I'm dieing of laughter right fucking now !!!

>>	Anonymous Sat Apr 28 12:22:31 2018 No.9138906 the world is a single point of failure

>>	Anonymous Sat Apr 28 13:03:52 2018 No.9139388 >>9138334 can you read? the whole point of oracles is to have multiple sources with reputation system dumb nigger.