Penalty/Collateral system

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Penalty/Collateral system Anonymous Mon Mar 4 22:02:22 2019 No.12925043 [Reply] [Original]

When a Chainlink oracle accepts a request, it will put forward LINK tokens as collateral. If the oracle provides bad data, it forfeits those tokens and tarnishes its own reputation.

For this to work, the penalty must exceed any potential gain from falsifying data.

>>	Anonymous Mon Mar 4 22:22:38 2019 No.12925178 Don't bother, these brainlets won't understand how significant this post is. Too busy chasing larpers and shitcoins.

>>	Anonymous Mon Mar 4 22:24:20 2019 No.12925191 >>12925043 >For this to work, It won't.

Anonymous Mon Mar 4 22:26:02 2019 No.12925203

>>12925043
this is the best counter to the "66% held my Sergey"

To test the network, some skin has to be in the game. IE there has to be some incentive to break it. If all tokens were circulating, it would take astronomical resources to pump the price to a usable level.

>>	Anonymous Mon Mar 4 22:27:42 2019 No.12925215 >>12925043 There's also an inherit interest in not tarnishing the value of the system and the token. Node providers with more link staked will be trusted more because they wouldn't risk tanking the price of an asset they own.

Anonymous Mon Mar 4 22:31:14 2019 No.12925235

Not necessary with trusted nodes, you really think the big banks will need link when can just run there own centralised nodes? Lmfao... You didn't think they'd need to actually out up collateral to guarantee their behaviour? They're fucking BANKS they are the epitome of trust Jesus Christ... Link will only be needed for almost worthless individual nodes providing shit like weather data, not for anything important all that will be done with collateral on trusted nodes

>>	Anonymous Mon Mar 4 22:35:26 2019 No.12925270 File: 41 KB, 555x448, why_we_cant_have_nice_things.jpg [View same] [iqdb] [saucenao] [google] >>12925043 bunch of biz tards get together and supply false data to each other and ruin smart contracts for everyone. This is why we can't have nice things.

>>	Anonymous Mon Mar 4 22:45:21 2019 No.12925339 >>12925235 >They're fucking BANKS they are the epitome of trust You think banks trust each other?

>>	Anonymous Mon Mar 4 22:48:08 2019 No.12925365 >>12925043 potential gains from falsifying data will generally be very little to none because node operators won't know which contracts they are working with, and contractors wont know which nodes are giving the data

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