The next waves of Oracles?

[Anonymous No.23319262]

>witnet mainnet launched 2 days ago
>nobody gave a shit, not a single thread on biz announcing it, even to make fun of them like in the old days
Honestly this is kinda sad... unlike Band, which is the scammiest chink piece of trash that came out of nowhere and was just a rushed copy and paste job, or even Tellor, these guys were the Linux of oracles to Link's Microsoft, they were there 2 years ago and just quietly built a product they believed in without trying to cash in... naive and well-meaning losers. They finally release and they're already obsolete.

Do you think the token could at least pump x100 after scammy telegram groups realize they could be the next Band/trying to cash in further on oracles hype? Same question about API3, which is amateur as fuck but at least pretending to go beyond copy and pasting LINK.

All that first wave: ZAP, Band, DOS, Tellor were all laughable garbage, obvious short term pump n dumps by trash teams, but now it seems like more serious competitors will emerge. Simply put, if Band was Tron, can the more academically or technically projects end up being the Tzs or Algorand to Link's ETH?

[Anonymous No.23319378]

Thanks for starting an actually good discussion, OP.

>can the more academically or technically projects end up being the Tzs or Algorand to Link's ETH?
I think it's inevitable. Keep in mind that Chainlink has dominance right now because their main income source is dumping on speculative investors. Their users don't pay to use their data feeds even though they cost thousands (or more?) monthly to maintain. It's not a sustainable business model in the least. What's gonna happen when you can no longer keep up this charade and offer price feeds for free? Well, users are going to start shopping around ...

[Anonymous No.23319541]

>>23319378
Threshold signatures, Arbitrum,
Weak fud

/Thread

[Anonymous No.23319575]

>>23319541
How is anything I said untrue? No one pays Chainlink for their price feeds. I know because I consult with multiple DeFi projects. Are you claiming they will be cheaper than the competition because of the points you just mention?

[Anonymous No.23319880]

>>23319262
bump

[Anonymous No.23320028]

>>23319575
I can't find the tweet but Aave have actually stated themselves that they are paying to use the Chainlink network, it would be kinda weird if they are the only ones paying to actually use the network.

Regarding Tsigs and Arbitrum. Scaling solutions makes the network cheaper which further incentives development. Chainlink has already captured pretty much all of the market share plus the developer talent to. They are light years ahead of other oracle projects which makes it kinda unlikely that they are gonna be able to offer something that Chainlink can't do. Their network effect is simply too strong to deal with which instead should create competition within the network

[Anonymous No.23320038]

I made a witnet thread and it was completely ignored. I'm all in link but interested to see what differences exist between the two

[Anonymous No.23320067]

>>23319378
>>23319575
They could keep going for at least ten years, and tsigs/L2 will also massively decrease the costs.
Also plenty of projects like SNX and AAve have gone on record saying they're paying for a feed, I assume it's only a fraction though and unsure about all the smaller projects. ETH USD is probably free at this point. What are your sources on them not paying?

[Anonymous No.23320082]

>>23319378
>Their users don't pay to use their data feeds
a big assumption and an incorrect one

[Anonymous No.23320095]

>>23320038
I can't help because we are humble idiots who were able to spot good arguments the autists laid forth

[Anonymous No.23320119]

>>23320028
What are the network affects of Chainlink? It's one thing to talk about the network affects of Ethereum for example (lots of open source devs, most crypto project built on top of it)

Chainlink is a closed, centralized project. They don't get the network effects of having many people develop their product. Also, a project can choose to change their price feed by changing a single line of code (whereas for Ethereum, you would have to change the entire codebase of your project).

Basically I think the "network effects" of Chainlink are overblown.

[Anonymous No.23320136]

>>23320067
>have gone on record saying they're paying for a feed, I assume it's only a fraction though
Yea, I wonder if it's for optics. Because I highly doubt they're paying the full price to cover gas costs and operator costs, although I'd be willing to see if so.

[Anonymous No.23320154]

>>23320082
I'm open minded: do you have info about who's paying and how much? I'm sure you could infer such data from blockchain transactions, no?

[Anonymous No.23320171]

>>23319262
Lmao I remember Witnet from 2019. The guy with the moustache running it kek.

[Anonymous No.23320225]

>>23320119
Network effect as in, the more users on a network the more secure it become.

The issue with Decentralization is the fact that it's not a binary construct which means that there are different degrees of decentralization. To construct a network people want to use you need users but people only want to join your network if it makes sense from a game theory perspective e.g, you can't game the system for your own gain.

The network effects in this case come from the fact that people want to join the network since there already are users on the network helping to secure it. The more users the greater the network effect which should propel its success forward since security is the number one concern

[Anonymous No.23320262]

>>23320119
Let's say you had to vote on what monument would have the highest likelihood of still being around tomorrow, bearing your trust in it. Your choices are: the giza pyramids or the statue of liberty

[Anonymous No.23320356]

>>23320262
Bad argument given that lots of big crypto projects come and go. Also, not saying Chainlink is going to disappear obviously. This thread is discussing future competition.

[Anonymous No.23320389]

>>23320225
What do you mean by users? If you're talking about price feed users, your argument doesn't apply. It applies for node operators perhaps, but Chainlink pre-selects their node operators thus the centralized governance slows down actual network effects.

[Anonymous No.23320416]

>>23319262
>these guys were the Linux of oracles to Link's Microsoft
Stupid comparison and you should feel bad for making it

[Anonymous No.23320436]

>>23320356
>This thread is discussing future competition.
there is none, Sergey and co are too far ahead better to just place your money on the safe bet

[Anonymous No.23320471]

>>23320416
Why?

[Anonymous No.23320481]

>>23320436
sounds like cope desu. especially considering that staking is no where near completion and that's the entire LINK value prop.

[Anonymous No.23320527]

>>23320481
Yes, and it doesn't need to be delivered asap to make 'investors' happy, it will be ready when it's ready to be deployed, not to be hyped up in some way to attract normalfags

[Anonymous No.23320560]

>>23320481
>sounds like cope desu
I'm sure it does to people like you

[Anonymous No.23320567]

>>23319262
Witnet is going down the road of Verity - irrelevance and eventual obscurity as it losses market share and partners

[Anonymous No.23320586]

>>23319262
Curious, why add Tellor to the list of 'obvious short term pnd? As far as I can tell it stands alone as the only decentralized PoW oracle option. Obviously it's not a solution to all, but it seems pretty decent to me anon.

[Anonymous No.23320599]

>>23320119
>What are the network affects of Chainlink?
Biggest treasury=more funding for on-boarding API providers, node operators, customers, enterprises, etc
First mover=had the time to develop more features and build more business relationships; these snowball
The more valuable the network, the more secure it is, similar to ETH
Brand recognition and reputation: at this point when people think oracles, they think chainlink
More funding=can hire the best talent, bigger teams=better security, faster response times etc.
They have business relationships with all the top teams at this point, the API providers and so on.
Joining consortia and networks like Baseline, ic3 also require membership fees
Endorsed by the likes of WEF, SWIFT, Google, Oracle... it matters and adds up
They can have the best conference with the best guests, bigger rewards to attract better talent at hackathons, bigger bug bounties, and so on.
They have all those top of the line features that other projects don't due to more well funded research and superior engineering teams; ie can use private APIs, VRF, deco/sgx, tsigs, etc always more in the pipeline, like recently proof of reserve for wrapped btc and that dex front-running solution, candid, etc

[Anonymous No.23320612]

>>23319262
yak sha mush. please for you to be watching glorious moving picture films Borat 2

[Anonymous No.23320615]

>>23320119
the state of biz in 2020 jesus christ
we did have our goodbye threads before mainnet but still kinda of what is has become
but then i read a nice thing an anon wrote about how biz regenerates every once in a while
once you've made it, you lurk here but dont post. just like eth guys from 2016 here
im still in six figure hell tho so post from time to time

[Anonymous No.23320643]

>>23320416
not tech wise but the ethos of it, they even refused to release their token before by fear of appearing greedy lol

[Anonymous No.23320736]

>>23320389
No one has ever created a decentralized oracle network before, that one is simple to understand.

How one goes about creating one is apparently super difficult according to the top minds of the space. Ari Juels etc

Sergey's and Steve's thesis on creating one has probably been thought out quite a lot. More that we can know. Now ask yourself, why would they start the onboarding with a KYC process. Probably so they can avoid early Sybil attacks on the network which would be absolutely fatal.

From a game theory standpoint having KYC in the beginning was absolutely essential for the network to stay healthy. Now when the network has grown ( oracle providers ) they can decentralize it more and more since the people requesting data are in control of which oracles they want to trust. You don't have to follow Chainlink's guidelines if you don't want to. The level of choice is always up to the requester. If you don't understand why the KYC process was crucial I don't know what else to say. Again, decentralization is a spectrum and how to achieve a perfect state of decentralization is something that is unknown since we can't begin to define what that would be.

I

[Anonymous No.23320781]

>>23320481
I think you are complicating things way too much
It really is as simple as the following:

The entire value proposition of most projects in this space except P2P cryptos such as Bitcoin are fully dependent on a functional oracle network to create real world applications

The value proposition of a blockchain is a secure tamper-proof environment but their only viable use case up to date has been moving tokens around which doesn't really add any value. It makes no sense to have a decentralized network if the data is centralized or easily gamed.

Every single project in this space will be dependent on an oracle provider to have a real world value, speculating on the leading oracle solution ( due to Chainlink's network effect ) is essentially making a bet that blockchains and smart contracts will ever have any real world value

[Anonymous No.23320809]

>>23320781
why do these efforts posts. if he doesn't get it by now he's not going to get it

[Anonymous No.23320858]

>>23320225
Why are you even bothered responding to fud? Clearly if he hasn't got it by now and is still arguing then he is seriously retarded. Or he is trolling fir shits and giggles in which case you are the retard.

[Anonymous No.23320901]

>>23320809
>>23320858
Really bored, I know.

[Anonymous No.23321005]

>>23320781

This is actually the truth, coming from someone who doesn't own Link. A few of the projects I invest in actually name dropped chainlink as the way they are using to peg their on-chain currency to fiat