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/biz/ - Business & Finance

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20348381 No.20348381 [Reply] [Original]

So, what is stopping major data providers simply providing data directly to smart contracts?

This obviously doesn't apply to all data - Link will still have its use in providing weather insurance to Africans or whatever.

BUT, the trillion dollar derivatives industry? We already get trustworthy data directly from source - taking that data and feeding it into Link doesn't make it in any way more secure, in fact just introduces more insecurity as nodes could tamper with it.

So - what use cases does Link have?

Hard mode: not just listing other shitcoins "using" Link

>> No.20348411

Repost fag

$1000 eoy

>> No.20348471
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20348471

Well I-I'll tell you why... uh because.. data providers are not good, at dealing with smart contracts!

>> No.20348480

Even though i have wondered this myself i feel likte this is too far into the future. Right now dataproviders can tap into a previously before untapped market without lifting a finger because of chainlink. They have to make zero adjustments and/or infrastructure changes to supply data to this market. This might be benefit enough for many data providers. Since it would probably be quite the investment to set up and research how they would directly provide their data to various blockchains

>> No.20348486

>>20348381
Where does AAVE and the upcoming DEFI centered bubble come into this pic though?

>> No.20348552

>>20348381
I still haven't seen a normie mainstream implementation of the "uses" of eth, and that didn't stop their moon mission.
Use cases, etc., don't matter after $1.

>> No.20348747

>>20348381
>(((trustworthy data)))

>> No.20348787

>>20348747
My point is that same (((trustworthy data))) still spits right out the arse of Chainlink - it's the same data

>> No.20348788

>>20348381
damn you just botfd link and sergey and his entire company

>> No.20348937

>>20348381
>LINK at $0.16 I sleep
>LINK at $0.60 I sleep
>LINK at $3 I sleep
>LINK at $8 WOAH WOAH WOAH WHAT'S GOING ON HERE???? TWO MAN TEAM!? JASON PARSER???

>> No.20348976

>>20348381
Doesn't solve the oracle problem dickhead.

>> No.20348988
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20348988

>> No.20349008

>>20348381
What you're asking is why wont data providers run their own oracles. They will. That's why linkies will be rich. There is only one Oracle network worth running an Oracle on.

>> No.20349013

>>20348471
good point well made

>> No.20349223

>>20348381
>taking that data and feeding it into Link doesn't make it in any way more secure
This is just blatantly false. Go watch one of the many presentations where Sergey uses "the same slides again". The reason for that, by the way, is because the knuckle-dragging majority of "crypto developers" who couldn't make something worth a shit if their lives depended on it. He's throwing them a bone! Sergey already has the business to business end of Chainlink locked down and he's essentially telling these goons to either create something that will fit in with his plan for the new world or become obsolete. Hardly anyone in this clown market (mostly idiot speculators until 1.0 goes live) understands the benefits of end-to-end decentralization.

Fuck me, I can't believe I'm spoonfeeding a bait post.

>> No.20350209

>>20349008
This is true as well and worth making a second post about. Remember Oraclize? Big bad scary Oraclize that was going to BTFO Chainlink back in the day? The same Oraclize that the fudders wouldn't shut the fuck up about? They're called "Provable Things" now. They changed their name after being absorbed by the superior oracle network, now they're going to be just ONE oracle among the eventual sea of oracles in the Chainlink network. It's hilarious to me that this board always jokes about Sergey being fat and eating McDonald's, you guys are kind of right about that in a sense. Except, instead of big macs he's gobbling up every two-bit competitor so they can eventually become a tiny, almost insignificant, piece of the network rather than getting completely left out of the picture. The larger pieces will be the numerous data providers flocking to Chainlink's network to monetize the data they've been collecting all this time by creating their own oracles.