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/biz/ - Business & Finance

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14646330 No.14646330 [Reply] [Original]

What does the Link token actually do for the system if Link is Blockchain agnostic?

It seems you could just pay someone in Bitcoin for using Link ...

Wtf...?

>> No.14646344

>>14646330
Exactly

These deluded idiots shitting up the board non stop when this is the truth

>> No.14646357

It buys us lambos. Did you not read the white paper?

>> No.14646388

If they did that it would've cost an exorbitant amount of money to setup the system. By creating a new token it is actually a possibility without starting with a 300 quadrillion dollar investment.
By being blockchain agnostic it doesn't matter if it ends up being bitcone, bitcone sanjeets vision, bitcone cash, efereum, bitconnect, as the end user shouldn't ever have to interact with the chain itself to put data on there. They interact with link, pay with link, data gets put on chain by nodes, end user has working smartcontracts.

>> No.14646399
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14646399

>>14646330
Fine, I'll bite, even though this is really stupid. Node operators are paid in LINK, but you can pay for the service in any currency you want by depositing it into a smartcontract that does an atomic swap and pays the operator in LINK.

>> No.14646477

>>14646330
Because the network needs an asset with a valuation tied directly to the utility of said network.
Not to mention-why would you put your network at the mercy of the volitlity of another network? Any old fags remember the Ethereum DAO hack? Someone stole hundreds of millions in ETH from a crowd funding DAO and the Ethereum team hard forked the chain, which sprung the creation of Ethereum classic.
Imagine if chainlink existed during this time and nodes were accepting payment in ETH. Payments to node operators would have been completely dictated by an event that had nothing to do with their network. Imagine if half the community was split in accepting the hard forked ETH or the original Ethereum classic chain? Can you see how problems might arise from this?

>> No.14646488

>>14646330
Stealing pic, thanks OP

>> No.14646521

Cup of coffee

>> No.14646649

>>14646330

Blockchains are closed systems, and rely on oracle's too transfer data in and out. Chainlink can be used on top of any chain, like Ethereum, and further evidenced by EVE recently.

>> No.14647486

>>14646330
I'm not a link user/holder but if I recall correctly it's the collateral for the information feed
anyway, why are you asking this from /biz/? can't you fucking google it?

>> No.14647530

>>14646330
Token not needed