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/biz/ - Business & Finance

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14933887 No.14933887 [Reply] [Original]

Can someone explain to me in clear terms with practical examples the use case of Chainlink (and oracles in general)?
Why do you need "middleware" at all, why not just add data straight to the Ethereum contract? The data from outside will be added by a human anyway?

If such an example or explanation exists elsewhere you can post it too.

>> No.14933925

make me money

>> No.14933946
File: 461 KB, 1500x1071, oracles are the new miners.jpg [View same] [iqdb] [saucenao] [google]
14933946

>>14933887
>The job of an oracle is to provide true information to smart contracts.
>Oracles only accept payment in Chainlink
>Oracles earn Chainlink if they provide true information
>Oracles lose Chainlink if they provide false information
>People are willing to pay money for true information
>Nobody wants to pay money for false information
>As long as the oracles provide true information, Chainlink will increase in both usage and value
>If oracles provide false information, it reduces the usage and value of Chainlink
>Therefore all oracles have an incentive to provide true information because it maximizes their revenue and maximizes the value of their assets.

>> No.14933955

>>14933887
Just buy a 10k stack and get rich

>> No.14933961

>>14933887
get fucked newfag

>> No.14933997

You do realise that getting random anons on biz to spoon-feed you doesn’t mean you’re doing valuable research. Read the white-paper.

Little teensy spoonful for you: google derivatives market value... That should get some cogs turning you gormless, corner cutting, inanimate object.

>> No.14934012

>>14933887
pee pee poo poo

>> No.14934021

LINK IS A JASON PARSER! BEWAREEEEEE!!!!!!

HOW CAN YOU FALL FOR THE MEMES?!

>> No.14934077

>>14934021
Amazon was a online bookstore that was created by a NEET who lived off his wife

>> No.14934116

>>14934077
amazon only took 1mil investment before having enough revenue to sustain itself.

Chainlink took 32mil and still has 0 customers.

>> No.14934119

Seems like many fall for the memes hahah. Hilarious how you can fall for something like that. The world is crazy

>> No.14934153

>>14934116
>0 customers
still FUDing you guys really want people to not buy. You know how price is driven up right? People buying you fuckin absolute low IQ faggot

>> No.14934210

>>14933946
>>Oracles earn Chainlink if they provide true information
How will oracles filter true/false information? Will they require a bunch of humans to check the data?

>> No.14934221

>>14933887
PEE PEE POO POO

>> No.14934262

>>14934210
Comparing all the data input for the same contract

>> No.14934286

>>14934116
You dont start the fourth industrial revolution, that will make 40% of all jobs on finance redundant, with just 1mi

>> No.14934296

>>14934262
So some kind of AI/ML software? Who is going to make this software, Sergey?

>> No.14934303

>>14934296
You had 2 years friend

>> No.14934309

>>14934286
Don’t forget 80% of lawyers also become obsolete

>> No.14934340

>>14934309
>>14934286
the jews fear the marine

>> No.14934420

>>14934303
Are you saying it has already peaked and has no future?

Really, how does Chainlink imagine to compete with the likes of Google for "real world" data gathering?
Google (or even Microsoft or whoever) could come up with a GoogleLink oracle that would rape Sergey in an afternoon.

>> No.14934440

>>14934210
>Will they require a bunch of humans to check the data?
this is where the wagecage meme comes in. people will be locked in cages all day verifying data

>> No.14934466

>>14934210
Sergey will pay indians on mturk to check the information its all on the whitepaper

>> No.14934480

>>14934420
Yeah. Why companies use PayPal when they could just make their own PayPal? That's fucking stupid!

>> No.14934488

>>14934420
Yea, peaked, don’t buy lmao

>> No.14934778

>>14934309
>>14934340
Was there a more based invention in the history of man?

>> No.14935114

>>14934420
Heh. Google has almost no blockchain capable developers, let alone those who are visionary enough to create a product like Chainlink. It’d literally be like watching Hooli try to create the Pied Piper product. You can at least understand television, right anon?

Furthermore, Chainlink has secured zero competition through the TC acquisition. Now Google would have to build two successful technology companies while working with hardware they have no expertise in and with developers who have never been involved in either type of product. On top of that, they have to explain to their board and investors why they want to throw hundreds of millions of dollars at building not one but two companies with virtually no tangential use case or relation to their main revenue stream (advertising). All this in a space that has yet to be proven to have real world need. What do you think they’d say? “$1,000 EOY lol”

Businesses want to make money. Google stands to make more money USING Chainlink than BUILDING Chainlink, so why the fuck would they choose to build?

>> No.14935146

>>14933887
>Why do you need "middleware" at all, why not just add data straight to the Ethereum contract?
You can't, you need a way to parse the Jason.

>The data from outside will be added by a human anyway?
Trustless, automatic.

>> No.14935164

>>14935114
HOLY SHIT DELET

>> No.14935250

>>14935114
>Google stands to make more money USING Chainlink than BUILDING Chainlink, so why the fuck would they choose to build?
Because they are more trustworthy than random Chainlink nodes, both in terms of competence and maliciousness (at least for most use cases, leaving politics aside), so they would get customers.
I still don't understand if the CL plan is to have a single piece of software (from Chainlink devs) gathering data or to allow anyone to run his own data gathering software, while still using the CL network. I guess it's the latter, because otherwise it would be centralized. But then someone like Google could enter and rape everyone else (because who can gather real world data better?) and nobody would even use non-google nodes.

>> No.14935299

>>14935164
Shut up fag nigger

Muh delete delete delete

Fuck off you're so fucking annoying loser fucking faggot

>> No.14935447

>>14935250
>we are trustworthy so we should waste time and money building a business
1) enterprise companies don’t trust google, google has chosen to build trust with consumers because that makes more sense for their business (again, advertising/marketing). In fact, most enterprise level companies feel gamed by google and if anything have a lack of trust.
2) being trustworthy is not a good reason to build a business unless you’re in the business of selling trust.
3) A decentralized oracle in and of itself is more trustworthy than any company could be, so the product doesn’t gain trust from the company backing it

I know you’re probably young or maybe just inexperienced (i.e. never built a large business) but there is a reason most big companies acquire instead of build. It almost never makes financial sense to build a company from scratch if one out there exists. If you need that company, it makes sense to use their services. If you need that company badly, it makes sense to buy them. Building will cost you 10x+ more when considering time and likelihood of success. Google will NEVER have a reason to build a Chainlink competitor. Think about it:
>every google employee wears shoes. Why don’t they start a shoe company?
>google can’t exist without the internet. Why not create a new internet?
>google needs cars to drive around and collect google map images. Why not create a car company?
The short answer is, it doesn’t make business sense. The same way it doesn’t make business sense to build a decentralized oracle. Meanwhile, they can leverage an oracles services to create smart contracts for their marketing revenue. It makes a lot of sense for them to use an oracle, not so much to build one.

>> No.14936227

>>14934262
and then majority wins? cant you just flood the correct data with identical false ones and win majority this way?

>> No.14936419

>>14935447
kek you are a literal retard who acts as a smug smart person.

Google literally copied Facebook with G+, and copied AWS with Google Cloud, and copied mapquest with google map, etc.

Google WILL absolutely copy Chainlink and DESTROY it. But only once there is actually a market for oracles. There currently isn't one, Chainlink has 0 users.

And even if Google is 5 years late, they will COMPLETELY CRUSH Chainlink. They could go from 0 to 1 million users in a few weeks if they decided to push a product.

You've been BTFO retard. Stop pretending you know something about tech or business, you're a fucking low IQ simpleton.

>> No.14936435

>>14935114
kek, both chainlink and TC have ZERO users.

They are not successful companies. All they've been successful at is scamming investors. Their product has ZERO users.

>> No.14936492

>>14935114
>Google stands to make more money USING Chainlink than BUILDING Chainlink
That is absolutely false. Sergey literally printed $2bil worth of tokens for himself with a 10man team in 2 years.

Do you really think google doesn't also want to print $2bil by employing 10 people?

Google has nothing to gain by using Chainlink, and they are not using it, and they never will.

The only reason they made a blog post about blockchain and chainlink is to sell their Google Cloud services, which are extremely lagging behind AWS and Azure. They literally post HUNDREDS of marketing articles per year to their twitter/blog. Chainlink was just another one.

Also, when they integrate or partner, they ALWAYS clearly state "integration" and "partnership" in the title of the article, and in the tweet. It is neither an integration or partnership.

>> No.14936501

>>14936419
>>14936435
>>14936492
>Reddit spacing
C&BP

>> No.14936535

>>14936501
you sound pretty salty, did sergey hurt you by dumping millions of links on you?

>> No.14936542
File: 31 KB, 465x364, 1490908858034.jpg [View same] [iqdb] [saucenao] [google]
14936542

>>14933946
>>14934262
>>14934286
>>14934309
>>14935114
>>14935447
STOP SPOONFEEDING NEWFAGS. IF THEY WANT TO LEARN THEY CAN READ THE ARCHIVES AND THE WHITEPAPER LIKE THE REST OF THE NULINKERS.

>> No.14936561

>>14936535
Thanks just bought more

>> No.14936565

>>14936542
fuck off scammer. Link is a proven scam with 0 users, and 100 fake partnerships. the only reason it's still relevant is cause there's 3-4 neets who post 20 threads a day to make it seem "alive"

>> No.14936577

>>14936561
congratulation, Sergey himself is dumping 1 Link per second on binance. He only has 650million left.

>> No.14936594

>>14936577
You’re telling a LINK maximalist that cheap link are a bad thing, lmao

>> No.14936612

>>14936594
who cares that you're not selling? Everyone else is, including the devs

>> No.14936627

>>14936612
Listen I know you want my linkies, but you’ll have to pry them from my cold dead hands, you hear me?

>> No.14936653

>>14935250
There you go. Chainlink is building a free market for oracles to provide services. Literally anyone can be a node, but probably you will only be a successful node if you have access to particularly valuable data. So if you’re a google or a Facebook or an amazon you will rape the new world order. Us NEETS will do ok too, just being along for the ride

>> No.14936674

>>14936627
nope, I could buy them from sergey himself, he's liquidating hundreds of thousands per week.

>> No.14936731

>>14934116
This isn't some online bookstore, kid.

>> No.14936756

>>14936731
correct, it's a scam with 0 users and $2.5 billion valuation.

Imagine having only 10 people working for you and burning 16mil$ per year. 1.6mil per employe. And all of them are in their 20s kek

>> No.14937365
File: 6 KB, 232x230, 3DPD.jpg [View same] [iqdb] [saucenao] [google]
14937365

>>14936419
>>14936435
>>14936492
and posts
>>14936535
after

>> No.14937608

>>14936419
This is the truth linkies will never accept. Based post

>> No.14938226

>>14933887


The Oracle which is triggering the contract needs to be as reliable as the decentralized infrastructure the contract is running on, which is what Chainlink's decentralized oracles solves.

To understand better why a decentralized middleware is needed for this you would first have to understand why decentralization is needed for smart contracts. So the question you have to start asking your self is

What is so great about Ethereum?
What is so great about Bitcoin?
Why are these considered "secure"?
Why is decentralization so important?

Sometimes when I read OPs post like this I realize so many people don't even know why they are investing in this space. They have no idea what the bennifits of decentralization are.

OP, once you figure it out. You will see the importance of Chainlink.

>> No.14938234

>>14936419
I’m actually tested above 140 IQ but I believe in multiple intelligences so IQ isn’t too important. I will say the types of intelligence IQ tests test for are not my strongest.

I can tell you’ve never built a large business before because you’re not understanding very simple concepts, so you can either just take my word for it or keep battling with your inexperience. I don’t really care either way. I will give you a hint should you choose to try to elevate yourself: I have already explained in part of my posts why google invested in certain business endeavors. Also it’s worth looking into all those things you listed, some involved acquisition and not direct buildout :)

Ahh, to be young and naive again. In many ways, I envy you. It’s fun to begin to explore this area of knowledge. Enjoy!

>> No.14938435

seriously tho, how is some guy going to push data and act as a node? my temperature sensor isnt going to spark much interest, is it

>> No.14938622

>>14935250
I will explain it to you.

Google has already integrated Chainlink into BigQuery and through their Google Cloud Public Datasets.

Oracle Corp is doing the same. not only are they offering to build Chainlink integration for 50 start ups but they have reached out to 430,000 of thier clients and creating incentives to do the same with their customers.

This is becoming a huge huge network.

>Because they are more trustworthy than random Chainlink nodes

1. do you know the miners that support Bitcoin or Ethereum? are they trustworthy? No, you don't know them. you don't need to know them. its about the protocol. Its about Decentralization. It can't be turned off.

The rules are set and

Bitcoin becomes a world powered digital currency,.
Ethereum becomes a world powered smart contract platform. Chainlink becomes a world powered trustless data platform.

>Google could enter and rape everyone else

1. Asking google to set up another oracle network is like asking google to set up another TCP/IP. Its like asking them to set up another internet and telling the world to jump on the "new" internet and abondon the old one. its inefficient and it would never succeed. Imagine going to your computer trying to decide between internet A for this website and then going to internet B for another website.

2. Another example of a big "trusted" corporation that tried to corner the interenet? AOL, where are they now?

this is why everyone who understands Chainlink says It is the "Standard".

What does Google have to gain by working with Chainlink?

It is the same reasons why Google benefits from using the internet. offering and receiving Data. With the hybrid Blockchain-Cloud applications in Googles future they want to collect and then offer, for free, as much data as they can. This is their business model. They don't sell their data. They offer it in hopes that businesses will then purchase and build applications on Googles platform for their business.

Its that simple

>> No.14938630

>>14936565
the fact that it made it on coinbase is very concerning. the power of influencers

>> No.14938708

>>14938435
>seriously tho, how is some guy going to push data and act as a node?
Nobody explained yet how this is supposed to work. I'm assuming some AI/ML that would crawl the internet and gather data. But this can be gamed, just like web search engines are being gamed. Many things can go wrong. AI still isn't very reliable. Why would Sergey be able to come up with some genius AI that changes the game?

>>14938622
>Asking google to set up another oracle network is like asking google to set up another TCP/IP.
lol
You realize that right now literally nobody is using Chainlink or any other oracle, right? And that Chainlink (the software) is literally on Github and anyone can copy it?

>> No.14938809

>>14938708
Actually forget about the AI/ML thing, because I guess most of the data will just come from open APIs provided by companies.

Still zero reason why some big company can't effectively take over CL or make a clone. Or even why a centralized oracle wouldn't potentially work better, with less noise and bloat in the network. But that's the case for all this crypto shit.

>> No.14938870

>>14938708
>You realize that right now literally nobody is using Chainlink or any other oracle, right? And that Chainlink (the software) is literally on Github and anyone can copy it?


lol,

You realize no one is even close to creating an oracle network right? cmon. we can play this game all day long. Chainlink is already building the network. did you want Oracle Corp and Google and every other Crypto project to all of sudden do a u turn for some unknown network that no one is partnered with or using?

Get real.

>> No.14938894

>>14938870

Edit

*No one else

>> No.14938925
File: 154 KB, 1589x875, Chainlinkpartners&integrations.jpg [View same] [iqdb] [saucenao] [google]
14938925

>>14938870

Yep, sure, someone else just gonna copy the code and all these people that have already integrated gonna spend money switch gears and go with a 1 month old project instead of Chainlink. sure!

>> No.14939017

>>14936492
Google's main source of revenue is slowly dwindling, becoming obsolete and under constant lawsuits... they want to take the service provider approach and let their customers deal with the shit while they make profit, hence the heavy GCP investment.
Google will do anything to make their service more attractive to customers, and that includes providing tutorials on connecting to the Chainlink network to sell data, so they can earn money in their data, so they can pay Google more money.
Google is switching towards service and moving away from responsibility, so is Microsoft after the success of AWS.
Anybody thinking any of these giants wants to rebuild chainlink is a brainlet, doesn't understand software, leverage or business and therefore should get the FUCK OFF MY BOARD
REEEEEEE

>> No.14939032

>>14936419
>Google literally copied Facebook with G+
How's that going for them now?

>>14938708
>Bitcoin (the software) is literally on Github and anyone can copy it?

>> No.14939090

>>14938708
>nobody is using something that is still in the process of being built
I sleep.

>> No.14939098
File: 112 KB, 390x390, comfy2.png [View same] [iqdb] [saucenao] [google]
14939098

>>14934440
chuckled, thanks anon

>> No.14939119

>>14933887
You don’t need to understand chainlink. What you need to understand in smart contracts. When you imagine a network of smart contracts autonomously triggering off one another, chainlink then just makes sense.

>> No.14939212

>>14934420
>Google (or even Microsoft or whoever) could come up with a GoogleLink oracle that would rape Sergey in an afternoon


And competing corporations like Amazon, Oracle, Alibaba, Apple, Samsung and any other cloud/data/provider)would jump on Googles network and make them more rich WHY???

You are a moron.

Why do I even have to raise this question for you to see why Google starting a oracle network would never work. the biggest data companies in the world wouldn't even join.