Question from a retard

[Anonymous No.14786895]

What is staking?

Specifically in regards to ChainLink?

[Anonymous No.14787165]

>>14786895
Who is the artist? It reminds me of the ice cream one.

[Anonymous No.14787177]

>>14786895
If you have to ask, you aren't invited to that scam.

Enjoy your continuing poverty. Hey, someone has to sweep up the street in front of the casino.

[Anonymous No.14787197]

Nodes who do the work of securely feeding data to smart contracts get paid for that work. For nodes to take high value jobs they need to stake LINK tokens as collateral (Think, like, "You need to stake $100 to get this job, and if your data isn't accurate you lose the $100).
There will be services for Joe Normie to contribute to this collateral pool while other people do the actual work of running the node, but these services will take a cut.

Honestly, if you're not planning on running a node, I don't think there's much point in getting to excited about the "staking" aspect of Chainlink at this point. I think the gains of the token itself will vastly outperform any staking rewards for the next couple of years.

[Anonymous No.14787216]

>>14786895
its the amount fo link your node has to act as collateral for smart contracts.

The tokenomics of the LINK token.

1. Chainlink nodes will be paid in LINK tokens only. There will be conversion tools for people that want to use fiat but will be converted to LINK. at the end of the day only LINK tokens can power the network since the nature of ERC-677 token, built specifically for LINK, is to transfer data.

2. LINK tokens are used as collateral value. Smartcontracts will use Chainlink nodes that carry a % value of LINK to the value of the Smartcontract. So yes, you can start a node without LINK but no one will use it. High value smartcontracts or any contract that has value will use nodes that carry the same or a % of value of LINK.

3. Decentralized networks that are home to smartcontracts will need decentralized data to execute. Chainlink is currently the only option. Thats why you will see everyone in this space partner with Chainlink

So....

Smart contract creators will demand a certain level of reputation or amount of collateral, to be paid in LINK tokens, that suits the value of their smart contract. A $1million bond would require a lot more collateral, than, say a smart contract dealing with $100. You wouldn't select the low rep/low collateral available nodes for something like a huge bond. Chainlink is actually targeting these high value contracts. Sergey has discussed at length why high value contracts in the financial world require a decentralized oracle: it puts all the risk onto the oracle rather than the smart contract creator. The smart contract creator doesn't risk losing money - the node operators do. The Chainlink network is genius like that.

There is infinite amount of collateral available because the token price can rise to meet it.

Now you have to research how large ALL these markets are. derivatives, insurance etc... hint: Trillions.

Is 1000$ really possibly in say the next 3-4-5 years?

[Anonymous No.14787268]

>>14786895
Common mistake. The proper term is “Steaking”. Say you want to ship a container of, say, frozen goods and you want to do so in a trustless manner. This is mainnets main functionality is for users to be able to “Steak” each other while ensure that the temperature remains below freezing in the shipping container, and when the steaks cross a point of entry, and of course the price of ETH, whenever you want it. Chainlink is going to change the world

[Anonymous No.14787328]

>>14787268
Kek

[Anonymous No.14787417]

>>14787268
My fucking sides

[Anonymous No.14787879]

>>14787268
>Common mistake. The proper term is “Steaking”.

>>14787268
>Say you want to ship a container of, say, frozen goods and you want to do so in a trustless manner. This is mainnets main functionality is for users to be able to “Steak” each other while ensure that the temperature remains below freezing in the shipping container, and when the steaks cross a point of entry, and of course the price of ETH, whenever you want it. Chainlink is going to change the world

COMMON MISTAKE
ANON BUYS STEAK
DOESN'T KNOW THE TEMPERATURE BEFORE EATING
SAD!

[Anonymous No.14788127]

>>14787197
>gains of the token itself will vastly outperform any staking rewards

what is more valuable - currency of the chainlink network, or the ownership of god-tier chainlink nodes servicing ultra high value contracts worldwide?