[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 9 KB, 238x306, 1532337534605.jpg [View same] [iqdb] [saucenao] [google]
12864857 No.12864857 [Reply] [Original]

is this guy retarded?
are oracles really necessary?

>> No.12864905
File: 194 KB, 1122x752, bezoslink.jpg [View same] [iqdb] [saucenao] [google]
12864905

>>12864857
I don't know, ask Jeffrey Bezos and Amazon

>> No.12865861
File: 37 KB, 618x412, 1524094184970.jpg [View same] [iqdb] [saucenao] [google]
12865861

>>12864857
Yes.

>> No.12865872

TAKE IT BACK OR I'M GOING TO FINGER YOUR ASS WITH MY PENIS

>> No.12865880

>>12864857
yes

see >>12865846

>> No.12865912

Chain link is literally nothing more than an aggregator of APIs. Other companies are light years ahead and chain link will never compete. Who would you rather trust Salesforce or chain link. Better question. Who will enterprise-level investors trust more? The term Oracle is bullshit. It's a fucking API. There are millions of them. Nothing about it is trustless or decentralized. Are any chain link investors actually programmers? does no one understand that all this fucking thing aims to do is pull in outside data via API and feed it to the blockchain, just like any other ping / post setup. Absolute fucking joke. It's been hilarious watching you all circle-jerk about oracle's and other imaginary technology that doesn't exist.

>> No.12865962

>>12865912
yes, I'm a programmer, I know what an API is.

here's the thing, if you trust Salesforce and you need to use that to build an application then you're not gonna be using that in the first place. oracles are SPECIFICALLY for the blockchain use-case. centralized oracles essentially break the entire blockchain paradigm by introducing trust / centralization into a dapp - in which case why not just build a traditional db-based app and fetch from whatever APIs you trust?

what chainlink does is allow you to create an entirely new type of application that is trustless with respect to data source. 99.95% of applications don't need this! but this is a product space that LITERALLY does not exist right now because something like chainlink is needed to bring it into being.

>> No.12865981

>>12865962

relax, son. no one needs this.

>> No.12865985

Yes, no.

>> No.12865996

Why doesnt ethereum, polkadot, etc just create their own oracles in the future and cut out the middleman

>> No.12866040

>>12864857
Dude, we already have "oracles" with smart contracts.
The real and only issue about oracles are where does the information come from Jesus Christ you dumb fucking kids.

>> No.12866184

>>12865962
Where does the chain link mythical Oracle pull said data? From a centralized source? Or from thin air? For example, the outcome of a sports ball game. There is nothing trustless about it. You are relying on data from centralized external sources. The best case scenario would be scouring the internet to reach a consensus on a specific data point, but even that is highly susceptible to manipulation. Please explain how this is trustless and or how it is decentralized because I don't see it as either.

>> No.12866211

>>12865962

This has never made any sense to me.

If you're inputting centralized data, what difference does an oracle make in terms of trust? The oracle doesn't know whether the data being fed in can be trusted or not. If you put false data in via an oracle, it's the same as doing it via a centralized API.

Unless you have a 100% decentralized world (which will never happen, particularly in business) you are always going to break the trustless chain at some point no matter what you do, either when data is being put in or taken out for whatever use.

In my view, projects like Quant have realized that enterprise adoption is going to be a mixture of centralized and decentralized systems, which could still bring huge cost and efficiency savings. I'm sure Chainlink will do fine as well, but decentralized oracles are not absolutely needed in most cases.

>> No.12866327

>>12865996
>Why doesn't Uber and Ola create their own Maps instead of using Google Maps APIs

>> No.12866582

>>12865996
>why doesn't facebook just create its own government

>> No.12866624

>>12866211
That’s why chainlink isn’t about being maximally decentralized, it’s about supplying the tools so each use case can determine its own security measures. Yawn

>> No.12866664

>>12866327
>>12866582
>what is an oracle

>> No.12866778

>>12866184
There is one sports game played. However there are several centralized external sources relaying that information. Its not just one.

The point of Chainlink is that oracles, many of them, will gather data from different centralized sources aggregating the information so that it is trustless and decentralized. One of the bennefits of decentralization is the data is then tamper proof and for blockchains it becomes the truth. Another benefit is that a decentralized source of data, chainlink, means that this data is always "on". The machine is never wrong, it never turns off, it never gets old, it never takes a break, it runs 24/7. no centralized data source in the world has that capability or has shown to be able to do this.

Think or oraclize, centralized feed. They have already had "downtime issues" In an automated contractual world using smartcontacts this is death. You CANNOT have a smartcontract economy without decentralized data source. especially when you have smartcontracts executing off other smartcontract outcomes. Yes, one day we will have smartcontracts on top of smartcontracts and one centalized fee that decideds to go "down" for 5min screws up the entire infastructure built on top of it. So you see. centralized data is death. It wont work.

Heres some fun. People constantly think of data that they THINK is centralized. like your sports game (wrong, as explained above). Try to think of data that can be decentalized. Gold, silver, interest rates, stocks prices, FX, Libor, weather, all of it. go ahead. you will go on forever, because there are markets all over the world and they all have their own price.

>> No.12866837

>>12866778
I know what your next question will be.

>Why not just have the smartcontract creator connect to different centralized data source to aggregate within smartcontract to find its own truth.


1. if a smartcontract creator has his choice of centralized data feed the data can then becomes untrustworthy as the people transacting will then have to trust the creator or party pointing to centralized data. This opens the door to bad actors. as that data chosen can be manipulated.

2. Creating an oracle system within a blockchain or smartcontracts creates complexity for the contract. A simple design then becomes clumsy and issues can arise. A decentralized oracle network needs to be its own layer.

>> No.12867022

>>12866211
It’s not only about trust but also maintaining 100% uptime. Having a centralized oracle means it could go down when the smart contract needs the data but if it can’t retrive it it cannot fulfill its conditions.