LINK ON OTHER BLOCKCHAINS

[Anonymous No.22297862]

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 No.22297870]

>>22297862

[Anonymous No.22297879]

>>22297862
I LOVE YOU SERGEY

[Anonymous No.22297891]

>>22297862
>>22297870

Thomas' post from Discord about this.

You can find the Github link here:
https://github.com/smartcontractkit/link-token-maticnetwork

[Anonymous No.22297925]

>>22297891
He's so down to earth and chill
An actual dev and not some poser

[Anonymous 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 No.22297939]

FAT
A
T

RUSSIAN SCAM

[Anonymous No.22297954]

LINK isn't needed on on blockchain

it's a useless token

[Anonymous 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 No.22298002]

i thought matic was using band?

[Anonymous No.22298049]

>>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 No.22298115]

bullish, especially for DOT

[Anonymous 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 No.22298216]

>>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 No.22298278]

>>22298216
Based. Thanks for the spoon-feed.

[Anonymous No.22298366]

>>22297862
AB is that you?!?!

[Anonymous No.22298399]

>>22298176
Much like a big mac within it's cardboard

[Anonymous No.22298401]

>>22298176
>>22298216
Won't this cause a shit ton of fees? Is there anyway for LINK to get off of ETH?

[Anonymous No.22298410]

>>22298216
>216

[Anonymous No.22298421]

>>22298049
Very interesting and efficient

[Anonymous No.22298492]

>>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 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 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 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 No.22298599]

I'm starting to think 10k is enough to make it, not sure if I like giving myself this much hope

[Anonymous No.22298645]

>>22298599

Checked. You will make it.

[Anonymous No.22298705]

>>22298599
Since 2017 it’s always been:
1k suicide stack
10k make it stack
100k fuck you stack

[Anonymous 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 No.22298819]

>>22298784
AB was (probably) a larp, anons knew the value of link long before he showed up here.

[Anonymous 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 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 No.22298887]

>>22298856

yeah but don't worry, it won't hold LINK back anymore...

Tsigs, Arbitrum, DECO, LINK on other chains...

[Anonymous 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 No.22299074]

Is it a good idea to buy right now? it's at fucking 12

[Anonymous 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 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 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 No.22299184]

>>22297862
Sounds like a spooky way to lose your Linkies!

[Anonymous No.22299200]

>>22299074
>>22299104
Agreed. you would be better off buying ripple. chainlink will likely crab for 2 years

[Anonymous No.22299475]

OHH LINKIIESSS

THE BEST INCENTIVE

IS

NO

INCENTIVE

LINK = 0.07 EOY

TOKEN

NOT NEEDED

[Anonymous 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 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 No.22299638]

>>22299104
>only 30 cents
Supreme bait

[Anonymous 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 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 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 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 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 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 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 No.22299944]

>>22297862
https://www.youtube.com/watch?v=13EsiCjsssY

[Anonymous No.22300001]

MANIACS!
87 dorrars this year!

[Anonymous No.22300023]

>>22299944
Unbelievable digits.

[Anonymous No.22300298]

>>22299944

[Anonymous No.22300334]

>>22300001
one numeral off. 86 dollars eoy confirmed.

[Anonymous No.22300498]

>>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 No.22300612]

>>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 No.22300656]

>>22299830
lol
this one gets me everytime

[Anonymous No.22300663]

If only the developer of a cross chain tokenisation solution was part of a panel at smartcon. Oh wait...

[Anonymous No.22300729]

i love chainlink, such a whore towards other blockchains

[Anonymous 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 No.22300832]

>>22299944

[Anonymous 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 No.22300907]

>>22300832
$1k eoy was not a meme

[Anonymous No.22300909]

>>22297862
i have 1000 LINK am i going to make it?

[Anonymous No.22301061]

Link on Cosmos would turn my dick to diamonds

[Anonymous No.22301303]

>>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 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 No.22301623]

1k EOY

[Anonymous No.22301654]

>>22301623
$1k is fud

[Anonymous No.22301834]

>>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 No.22302691]

>>22300663
How does Ren’s Loong Wang play into this?
t. ren holder waiting for the moon mission

[Anonymous No.22302769]

Sounds kind of dumb desu

[Anonymous 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 No.22303662]

>>22301303

Maybe this is the reason why link is being taken out of exchanges...

[Anonymous No.22304475]

>>22303662

Yeah it used to be at 65MM supply for the longest time..

[Anonymous No.22304537]

>>22303662
Is this bullish for Link?

[Anonymous No.22304545]

[Anonymous No.22304661]

>>22304475
last week, there was 5,5mil of link taken off. So its speeding up!

[Anonymous 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 No.22304746]

>>22299944
nice!

[Anonymous No.22304758]

>>22297862
>price dumps harder

[Anonymous No.22304789]

>>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 No.22304954]

>>22299824
you better believe it buddy

[Anonymous No.22305053]

>>22299104
>only 30 cents

[Anonymous No.22305137]

Cope. Its just a json parser, it cant do shit

[Anonymous No.22305289]

>>22297862
this is so fucking innovative ima nut in my pants
ty op

[Anonymous No.22305349]

>>22299530
You get it

[Anonymous No.22305558]

Good stuff anon, keeping the board alive. I was more focused on DECO. Great things will come from that as well

[Anonymous No.22305616]

Just noticed this. Meme magic at work once again.

[Anonymous 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 No.22305820]

>>22299944
Checked

[Anonymous No.22305829]

>>22305778
Most idiots won’t get this or think it’s fud kek

[Anonymous 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 No.22306149]

>>22306111

[Anonymous No.22306204]

>>22298784
Assblaster was a LARP

[Anonymous No.22306500]

>>22305616
Noice!

[Anonymous No.22306530]

>>22306500
Checked

[Anonymous 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 No.22307125]

>>22305616
Based.

[Anonymous No.22307160]

>>22297891
can someone pls sauce me a link to this discord?

[Anonymous No.22307297]

good post, don't see that much around here nowadays
https://twitter.com/sheila_warren/status/1294749278506606592

[Anonymous No.22307502]

>>22307160

/27Huut

use this

[Anonymous No.22307694]

?

[Anonymous 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 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 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