LINK ON OTHER BLOCKCHAINS

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LINK ON OTHER BLOCKCHAINS Anonymous Mon Sep 7 12:29:18 2020 No.22297862 [Reply] [Original]

OP from >>22296765 here

Here's some more bullish news for you

Looks like the LINK token is finally being implemented on other blockchains. Yes you could use the external initiator to initate Ethereum LINK job runs from other blockchains, however here you see LINK finally able to be minted (deposited) on other blockchains by locking it on the ETH. To unlock the LINK on that blockchain you can burn (withdraw) it on that chain to get it back to ETH LINK. This is the first instance of this so far that I know of - now you will have LINK (Matic), LINK (DOT), LINK (XTZ) and so on - all of these blockchains will require LINK to be locked up, further reducing the supply, and this is consistent with Thomas' vision a year ago.

>>	Anonymous Mon Sep 7 12:29:35 2020 No.22297870 File: 86 KB, 868x351, EhUjqmdXkAERX2m.png [View same] [iqdb] [saucenao] [google] >>22297862

>>	Anonymous Mon Sep 7 12:30:02 2020 No.22297879 File: 2.42 MB, 480x480, 1579855193127.gif [View same] [iqdb] [saucenao] [google] >>22297862 I LOVE YOU SERGEY

>>	Anonymous Mon Sep 7 12:30:35 2020 No.22297891 File: 91 KB, 573x281, 9034834892432.png [View same] [iqdb] [saucenao] [google] >>22297862 >>22297870 Thomas' post from Discord about this. You can find the Github link here: https://github.com/smartcontractkit/link-token-maticnetwork

>>	Anonymous Mon Sep 7 12:32:04 2020 No.22297925 >>22297891 He's so down to earth and chill An actual dev and not some poser

>>	Anonymous Mon Sep 7 12:32:31 2020 No.22297931 The only way to own a LINK token on another network is through a contract? Or would these tokens be sold on exchanges too?

>>	Anonymous Mon Sep 7 12:32:51 2020 No.22297939 FAT A T RUSSIAN SCAM

>>	Anonymous Mon Sep 7 12:33:15 2020 No.22297954 LINK isn't needed on on blockchain it's a useless token

>>	Anonymous Mon Sep 7 12:33:38 2020 No.22297967 oh good, i can maybe use aave without spending like $100 on 4 transactions >inb4 poorfag im all in link and i hate having to buy eth constantly

>>	Anonymous Mon Sep 7 12:34:48 2020 No.22298002 i thought matic was using band?

Anonymous Mon Sep 7 12:36:47 2020 No.22298049
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>>22297931

You would need to lock up LINK (ETH) in order to mint it on other chains. So you won't be able to sell LINK (XTZ) for example, since it's essentially just locked ETH (LINK)

>>	Anonymous Mon Sep 7 12:39:38 2020 No.22298115 bullish, especially for DOT

>>	Anonymous Mon Sep 7 12:42:23 2020 No.22298176 >>22298049 So basically Link would be locked up in an ETH contract and somehow reserved for another blockchain? Kind of like wrapped BTC can be represented on the Ethereum chain without increasing the supply of BTC correct?

>>	Anonymous Mon Sep 7 12:44:20 2020 No.22298216 File: 285 KB, 900x900, 1571809114574.png [View same] [iqdb] [saucenao] [google] >>22298176 yeah exactly - and when people lock up their LINK to use it on other blockchains, they will be decreasing the supply available for sale

>>	Anonymous Mon Sep 7 12:47:16 2020 No.22298278 File: 236 KB, 1242x822, 20200827_204442.jpg [View same] [iqdb] [saucenao] [google] >>22298216 Based. Thanks for the spoon-feed.

>>	Anonymous Mon Sep 7 12:51:47 2020 No.22298366 >>22297862 AB is that you?!?!

>>	Anonymous Mon Sep 7 12:53:16 2020 No.22298399 >>22298176 Much like a big mac within it's cardboard

>>	Anonymous Mon Sep 7 12:53:25 2020 No.22298401 >>22298176 >>22298216 Won't this cause a shit ton of fees? Is there anyway for LINK to get off of ETH?

>>	Anonymous Mon Sep 7 12:53:54 2020 No.22298410 >>22298216 >216

>>	Anonymous Mon Sep 7 12:54:34 2020 No.22298421 >>22298049 Very interesting and efficient

Anonymous Mon Sep 7 12:58:21 2020 No.22298492
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>>22298401

Why would this cause a "shit ton of fees?" We are literally talking about how LINK is getting off ETH right now - you lock it on ETH and use it on other blockchains. If you mean fully removing LINK from any reliance on ETH, I bet they could do that but it'd be super messy and it doesn't seem to make sense for them to do that - as long as you can lock LINK on ETH, you can use it anywhere else, using it on blockchains that have almost no fees, or very reduced fees.

Something most are overlooking are that they will now likely need node operators on all of these other blockchains too...

Anonymous Mon Sep 7 12:58:55 2020 No.22298502

>>22298401
The thing is, it won't matter if it's LINK on ETH or LINK on Matic or LINK on any other blockchain. The fact of the matter is that most LINK will be locked up in nodes. And you'll still be able to use LINK on other blockchains with smaller fees at the same price as it is on ETH. This only matters if you plan on trading it a lot and by that point, you'll have made it so who cares about fees?

>>	Anonymous Mon Sep 7 12:59:36 2020 No.22298510 >>22298401 fees will be 1% of what they are once arbitrum is live. and .01% of what they are once arbitrum side chains go live. Fees will be next to nothing by EOY

>>	Anonymous Mon Sep 7 13:01:45 2020 No.22298553 noLINKers are going to be fucking furious when they see us doing nearly zero cost transactions and the network grows exponentially because of it, increasing the token value

>>	Anonymous Mon Sep 7 13:04:32 2020 No.22298599 I'm starting to think 10k is enough to make it, not sure if I like giving myself this much hope

>>	Anonymous Mon Sep 7 13:06:46 2020 No.22298645 File: 88 KB, 1084x738, 20200704_214327.jpg [View same] [iqdb] [saucenao] [google] >>22298599 Checked. You will make it.

>>	Anonymous Mon Sep 7 13:08:56 2020 No.22298705 >>22298599 Since 2017 it’s always been: 1k suicide stack 10k make it stack 100k fuck you stack

>>	Anonymous Mon Sep 7 13:12:08 2020 No.22298784 >>22298645 u2 fren >>22298705 I hope so all I remember is AB saying 10k so that when link hits $20 you wont kys or something along those lines

>>	Anonymous Mon Sep 7 13:13:57 2020 No.22298819 >>22298784 AB was (probably) a larp, anons knew the value of link long before he showed up here.

>>	Anonymous Mon Sep 7 13:15:06 2020 No.22298847 >>22298784 Yeah I’m sitting on 30k link right now and owe it to assblaster for convincing me that 5k link wasn’t enough

>>	Anonymous Mon Sep 7 13:15:22 2020 No.22298856 >>22298510 >>22298502 >>22298492 I'm just tired of fees. Anytime I see the words "transaction" and "eth" in the same sentence I get PTSD. ETH is the biggest thing holding LINK back.

>>	Anonymous Mon Sep 7 13:16:52 2020 No.22298887 File: 1.72 MB, 888x1025, 1532852846025.png [View same] [iqdb] [saucenao] [google] >>22298856 yeah but don't worry, it won't hold LINK back anymore... Tsigs, Arbitrum, DECO, LINK on other chains...

>>	Anonymous Mon Sep 7 13:19:54 2020 No.22298950 >>22298819 Yup still wouldve liked to get an update from him unfortunate dox >>22298847 Damn 30k wish I wasnt so lazy back in 18 and had accumulated at least 10k more, had 15k tried to swing 5k and got the rope kek

>>	Anonymous Mon Sep 7 13:24:58 2020 No.22299074 Is it a good idea to buy right now? it's at fucking 12

>>	Anonymous Mon Sep 7 13:26:33 2020 No.22299096 so wait, off chain labs is a centralized solution basically right? doesn't this kill the whole point of decentralized oracles? kinda whack

>>	Anonymous Mon Sep 7 13:26:39 2020 No.22299104 >>22299074 I would get xrp, only 30 cents, way more room to grow, and likely to be implemented by the government within the next 5 years as the de facto bank crypto.

Anonymous Mon Sep 7 13:29:18 2020 No.22299172

>>22299096
it is as decentralized as Chainlink is, right now it is KYC nodes, but they are working towards the goal of making it all automated with staking.
You spin up nodes and stake Link on them and they participate in the network and are handed jobs. The nodes process the jobs and vote on the data they get, if people try to fuck with the data they lose their staked tokens.

>>	Anonymous Mon Sep 7 13:29:52 2020 No.22299184 >>22297862 Sounds like a spooky way to lose your Linkies!

>>	Anonymous Mon Sep 7 13:30:37 2020 No.22299200 >>22299074 >>22299104 Agreed. you would be better off buying ripple. chainlink will likely crab for 2 years

>>	Anonymous Mon Sep 7 13:43:46 2020 No.22299475 File: 432 KB, 800x800, iykyk.jpg [View same] [iqdb] [saucenao] [google] OHH LINKIIESSS THE BEST INCENTIVE IS NO INCENTIVE LINK = 0.07 EOY TOKEN NOT NEEDED

Anonymous Mon Sep 7 13:46:42 2020 No.22299530

>>22298049

What? You could sell Link(XTZ), why wouldn’t you be able to? You just couldn’t double spend that link and the link(ETH) concurrently because to get link(xtz) you have to lock Link(ETH)

If Tezos won the dapp platform war, then link(xtz) could become the dominant link and link(ETH) would be forgotten

>>	Anonymous Mon Sep 7 13:49:35 2020 No.22299590 >>22299530 how complicated would it be to have a listing for ever type of Link. Liquidity would be a nightmare. At most i see exchanges (if not smart contract based ones) would let you pick which chain to withdraw to

>>	Anonymous Mon Sep 7 13:52:03 2020 No.22299638 >>22299104 >only 30 cents Supreme bait

>>	Anonymous Mon Sep 7 13:52:14 2020 No.22299643 >>22299096 No idiot, off chain labs is doing research and development, but the actual use of link will be done by independent decentralized node operators. That’s like saying bitcoin is centralized because one person wrote the whitepaper

Anonymous Mon Sep 7 13:57:21 2020 No.22299744

>>22299590

Yeah but there’s no other way it could be. Once link exists on other chains, CEX’s could get a bunch and list it on their exchanges - no way to stop them. But the liquidity would be less of an issue than you’d think imo bc the chainlink lock/swap contracts would be always running. So who cares what chain you buy it in if you can exchange it 1:1 with any other chain. The prices would probably be like tether:usd, hovering within 1% of each other and only really tradeable by bots.

>>	Anonymous Mon Sep 7 13:59:21 2020 No.22299776 >>22297931 You could probably sell them, they would just be matic wrapped link. So MwLink, they would go 1:1 with regular link. I guess it could make sense to buy them to not pay gas between networks

Anonymous Mon Sep 7 14:00:48 2020 No.22299811

>>22299744

For centralized exchanges i'd argue its way more simple, and makes way more sense for them to have all liquidity on one pair, and literally just do a swap at the point of withdraw with the smartcontract sawp very easy and fast.
There is reallly no sense or benefit diluting your trading volume that much and confusing the fuck out of everyone having a new trading pair for each chain and about 10 derivatives for each chain too (USDT, USDC, Monthly future contracts, etc)

thts a fucking cluster fuck.

>>	Anonymous Mon Sep 7 14:01:21 2020 No.22299824 All sounds like super hopium. Oh you’ll just lock it and the supply will crash and we’ll all become Jeff bezos billionaires. Sounds so stupid actually

>>	Anonymous Mon Sep 7 14:01:34 2020 No.22299829 >>22299074 yeah buy XRP instead of LINK, XRP is likely to moon anytime soon now, you'll probably see close to a 100x return if you get in now

Anonymous Mon Sep 7 14:01:35 2020 No.22299830

>>22299744
Within a few years people will view Chainlink as just as vital to building smart contracts as Ethereum because not only will contracts require oracles for connecting w/ off-chain resources but may dApps will run off-chain computation & Chainlink will be the market leader in it.

>>	Anonymous Mon Sep 7 14:07:06 2020 No.22299944 File: 2.84 MB, 640x480, 1598727387839.webm [View same] [iqdb] [saucenao] [google] >>22297862 https://www.youtube.com/watch?v=13EsiCjsssY

>>	Anonymous Mon Sep 7 14:09:44 2020 No.22300001 File: 319 KB, 1276x3100, chainlink punch.jpg [View same] [iqdb] [saucenao] [google] MANIACS! 87 dorrars this year!

>>	Anonymous Mon Sep 7 14:11:00 2020 No.22300023 >>22299944 Unbelievable digits.

>>	Anonymous Mon Sep 7 14:22:28 2020 No.22300298 File: 56 KB, 365x365, 9BBBE949-A180-4923-AF23-9ADD689DC64E.jpg [View same] [iqdb] [saucenao] [google] >>22299944

>>	Anonymous Mon Sep 7 14:23:59 2020 No.22300334 File: 185 KB, 686x1024, 652 - fOueIdo.jpg [View same] [iqdb] [saucenao] [google] >>22300001 one numeral off. 86 dollars eoy confirmed.

Anonymous Mon Sep 7 14:31:54 2020 No.22300498
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>>22298216
Lol no that won't decrease the supply brainlet. Even if the link is locked on eth, it will be available on amtic or whatever other scam chain minted it. Jesus Christ you guys are retarded.

Anonymous Mon Sep 7 14:38:02 2020 No.22300612
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>>22297862
>>22297870
>>22297891
>>22298049
>>22298216
>>22298492
>>22298645
>>22298887

You have just created two legendary breadcrumb threads on par with the best from 2018.

>I just want to be in the screencap

>>	Anonymous Mon Sep 7 14:40:40 2020 No.22300656 File: 188 KB, 619x594, 1531689097096.png [View same] [iqdb] [saucenao] [google] >>22299830 lol this one gets me everytime

>>	Anonymous Mon Sep 7 14:40:54 2020 No.22300663 If only the developer of a cross chain tokenisation solution was part of a panel at smartcon. Oh wait...

>>	Anonymous Mon Sep 7 14:44:36 2020 No.22300729 i love chainlink, such a whore towards other blockchains

>>	Anonymous Mon Sep 7 14:46:00 2020 No.22300752 >>22298856 The point of this is to move link onto the present scaling mechanisms. Even like vitalik said. They are there but no one is using them. Omg, matic, loop and others. This is solving the eth gas problem.

>>	Anonymous Mon Sep 7 14:49:39 2020 No.22300832 File: 538 KB, 1036x1302, link1.jpg [View same] [iqdb] [saucenao] [google] >>22299944

Anonymous Mon Sep 7 14:49:55 2020 No.22300837

>>22299475
> the best incentive is no incentive
This is correct. Unfortunately oracle nodes have an enormous incentive to cheat. The only way to reduce that incentive is via a counter-incentive by means of staking collateral. Only Chainlink is able to achieve this “no incentive to cheat” equilibrium. XRP brainlets are left scratching their heads.

>>	Anonymous Mon Sep 7 14:53:22 2020 No.22300907 >>22300832 $1k eoy was not a meme

>>	Anonymous Mon Sep 7 14:53:27 2020 No.22300909 >>22297862 i have 1000 LINK am i going to make it?

>>	Anonymous Mon Sep 7 15:01:13 2020 No.22301061 Link on Cosmos would turn my dick to diamonds

Anonymous Mon Sep 7 15:13:53 2020 No.22301303
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>>22299530
I assumed that you wouldn't be able to but maybe this does make sense. I just wonder how you could unlock the LINK back on the ETH chain after transferring LINK (XTZ) from one user to another for example. It's probably not that hard though...

Can't wait for the top 10 on CoinGecko to be Chainlink and all of it's iterations, Kek
>>22300498

Because more people would be using Chainlink on other blockchains the sell supply would likely be reduced. I'm not saying the total supply decreases somehow like it's being burnt

>>22300612
Cheers Anon, I was there then as well, if you remember [REDACTED]

>>	Anonymous Mon Sep 7 15:27:39 2020 No.22301592 >>22299074 Dude did you even read the thread? LINK is a total shitcoin and it's falling apart because the ETH network sucks so much. Buy XRP, it's going to hit $589.

>>	Anonymous Mon Sep 7 15:29:20 2020 No.22301623 File: 42 KB, 830x738, 1570058492292.jpg [View same] [iqdb] [saucenao] [google] 1k EOY

>>	Anonymous Mon Sep 7 15:30:54 2020 No.22301654 >>22301623 $1k is fud

Anonymous Mon Sep 7 15:39:18 2020 No.22301834
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>>22297931
>The only way to own a LINK token on another network is through a contract? Or would these tokens be sold on exchanges too?

One presumes it would possibly be the same end user experience as Tether's multi-chain UX for deposits and withdrawals on Binance, where you select the blockchain you want to withdraw to. However as far as I can tell the difference is that Chainlink chain-swaps will be done through smart contracts on chain, not manually like Tether does with Paolo manually BRRRRRR'ing the chain-swaps. It would be pretty funny though if Sergey had to tweet replies to WhaleAlerts every day with 'just a chainswap guys' like Paolo does.

Also on a side note, it says a lot about how much of a fucking shady scam Tether is that the technology to do permission-less swaps exists but they insist on doing it manually and shadily obfuscating the TX's.

>>	Anonymous Mon Sep 7 16:20:17 2020 No.22302691 >>22300663 How does Ren’s Loong Wang play into this? t. ren holder waiting for the moon mission

>>	Anonymous Mon Sep 7 16:24:32 2020 No.22302769 File: 6 KB, 232x217, download.jpg [View same] [iqdb] [saucenao] [google] Sounds kind of dumb desu

>>	Anonymous Mon Sep 7 16:29:41 2020 No.22302882 >>22299074 Buy XRP now as it's only 30c. Or wait another year then buy - it'll still be 30c. Maybe mull it over for another 3-4 years before jumping in, it'll still be 30c. Or go back in time 2 years and buy it then - it was still 30c. Do you see?

>>	Anonymous Mon Sep 7 17:05:07 2020 No.22303662 File: 83 KB, 687x803, file.png [View same] [iqdb] [saucenao] [google] >>22301303 Maybe this is the reason why link is being taken out of exchanges...

>>	Anonymous Mon Sep 7 17:43:13 2020 No.22304475 File: 90 KB, 701x506, 1594661820139.jpg [View same] [iqdb] [saucenao] [google] >>22303662 Yeah it used to be at 65MM supply for the longest time..

>>	Anonymous Mon Sep 7 17:45:39 2020 No.22304537 File: 115 KB, 1291x757, 1000EOY.png [View same] [iqdb] [saucenao] [google] >>22303662 Is this bullish for Link?

>>	Anonymous Mon Sep 7 17:45:57 2020 No.22304545 File: 1.53 MB, 1024x1024, _link.png [View same] [iqdb] [saucenao] [google]

>>	Anonymous Mon Sep 7 17:51:26 2020 No.22304661 >>22304475 last week, there was 5,5mil of link taken off. So its speeding up!

>>	Anonymous Mon Sep 7 17:54:02 2020 No.22304717 >>22297862 this is why we will be rich. sergey is playing 4d chess: if ANY blockchain wins, LINK wins. we dont need to bet on any single blockchain as LINK holders. we bet on the definitive truth many blockchains will require for pragmatic use.

>>	Anonymous Mon Sep 7 17:55:22 2020 No.22304746 >>22299944 nice!

>>	Anonymous Mon Sep 7 17:55:48 2020 No.22304758 >>22297862 >price dumps harder

Anonymous Mon Sep 7 17:57:10 2020 No.22304789
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>>22299475
>t-there's no incentive to tamper with contract inputs and outputs that would be worth millions and millions of dollars
xrp will be rolling out a new shitcoin product - xtrachromosome any day now

>>	Anonymous Mon Sep 7 18:04:12 2020 No.22304954 File: 21 KB, 500x379, download.jpg [View same] [iqdb] [saucenao] [google] >>22299824 you better believe it buddy

>>	Anonymous Mon Sep 7 18:07:54 2020 No.22305053 File: 28 KB, 233x188, 20200802_105256.jpg [View same] [iqdb] [saucenao] [google] >>22299104 >only 30 cents

>>	Anonymous Mon Sep 7 18:11:59 2020 No.22305137 Cope. Its just a json parser, it cant do shit

>>	Anonymous Mon Sep 7 18:18:05 2020 No.22305289 >>22297862 this is so fucking innovative ima nut in my pants ty op

>>	Anonymous Mon Sep 7 18:21:06 2020 No.22305349 >>22299530 You get it

>>	Anonymous Mon Sep 7 18:30:45 2020 No.22305558 File: 581 KB, 734x737, 1525749447262.png [View same] [iqdb] [saucenao] [google] Good stuff anon, keeping the board alive. I was more focused on DECO. Great things will come from that as well

>>	Anonymous Mon Sep 7 18:33:38 2020 No.22305616 File: 19 KB, 486x200, C110D122-0B47-4B47-A0E3-06618F88EC40.jpg [View same] [iqdb] [saucenao] [google] Just noticed this. Meme magic at work once again.

>>	Anonymous Mon Sep 7 18:41:24 2020 No.22305778 >>22297862 This is bearish as fuck. You will have shadowforks for every blockchain. So the supply will increase dramatically... LINK is DONE

>>	Anonymous Mon Sep 7 18:43:00 2020 No.22305820 File: 176 KB, 963x1405, C10621B1-A344-40DF-BB5F-FCAD270679B3.jpg [View same] [iqdb] [saucenao] [google] >>22299944 Checked

>>	Anonymous Mon Sep 7 18:43:16 2020 No.22305829 >>22305778 Most idiots won’t get this or think it’s fud kek

>>	Anonymous Mon Sep 7 18:57:11 2020 No.22306111 >>22305829 The Link is transferred by being locked on ETH. It is like Tether swaps. The supply remains the same. It is like wrapped Bitcoin.

>>	Anonymous Mon Sep 7 18:59:50 2020 No.22306149 File: 26 KB, 460x416, 7382EF34-8BFF-4564-BECF-C5E182C244B9.jpg [View same] [iqdb] [saucenao] [google] >>22306111

>>	Anonymous Mon Sep 7 19:02:31 2020 No.22306204 >>22298784 Assblaster was a LARP

>>	Anonymous Mon Sep 7 19:16:19 2020 No.22306500 >>22305616 Noice!

>>	Anonymous Mon Sep 7 19:18:33 2020 No.22306530 >>22306500 Checked

>>	Anonymous Mon Sep 7 19:19:39 2020 No.22306550 >>22306111 link derivatives have already been around for years ftx link futures binance link futures bitmex link futures synthetic link there is an unlimited amount of link out there

>>	Anonymous Mon Sep 7 19:48:08 2020 No.22307125 File: 1.51 MB, 810x7306, Screenshot_20200907-194652_Chrome.jpg [View same] [iqdb] [saucenao] [google] >>22305616 Based.

>>	Anonymous Mon Sep 7 19:50:57 2020 No.22307160 >>22297891 can someone pls sauce me a link to this discord?

>>	Anonymous Mon Sep 7 19:59:13 2020 No.22307297 good post, don't see that much around here nowadays https://twitter.com/sheila_warren/status/1294749278506606592

>>	Anonymous Mon Sep 7 20:09:38 2020 No.22307502 File: 371 KB, 2048x1536, 1584343803702.jpg [View same] [iqdb] [saucenao] [google] >>22307160 /27Huut use this

>>	Anonymous Mon Sep 7 20:19:34 2020 No.22307694 File: 109 KB, 1807x615, bit.jpg [View same] [iqdb] [saucenao] [google] ?

Anonymous Mon Sep 7 20:27:31 2020 No.22307842

So link won't need to be steaked entirely on P2P contracts using the eth blockchain you can just lock up linkies to be used on other chains? Who locks these linkies up? Why would they use alternative chains especially with arbitrum coming. Eth would remain the de facto layer regardless if, following fat protocol theory, most of the value is eaten up by sir gay....?

>>	Anonymous Mon Sep 7 20:29:43 2020 No.22307886 So we lock up linkies in a type of jail then wrap them to function on a different chain then these iterations of link become a derivative in themselves right?

Anonymous Mon Sep 7 20:32:13 2020 No.22307927

Trying to literally wrap my head around the implications of Chainlink and Chainlink labs and arbitrum and all of the jobs being created and not to mention several linklabs members contributing to the design and technical considerations for the digital dollar paper

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