Staking

[Anonymous No.24705526]

Staking is the only value proposition for LINK. 4 billion MC on the speculation that one day you will be able to stake your LINK.

Why hasn't staking been implemented in 3 years? Shouldn't this be the top priority when it's the only thing that would give LINK any value?

Why haven't we seen any design docs or blog posts about how staking should be implemented in such a context, where you are aggregating data points? Why hasn't the team even hinted at how such a thing should be engineered?

You don't find this suspicious?

[Anonymous No.24705556]

In the temple of love, you shine like thunder and cry like rain.

[Anonymous No.24705632]

Why would they need it?
Not until enterprise adoption fren.

[Anonymous No.24705699]

>>24705632
>Why would they need it?
The only thing that currently secures the network is the fact the node operators are selected by the Chainlink team and thus must report to the Chainlink team. If the network were to actually be decentralized, then you would need security features in place like staking, as outlined in the whitepaper.

Why would enterprise adoption precede any actual security measures being implemented?

[Anonymous No.24705795]

>>24705526
bump

[Anonymous No.24705824]

Staking isn't magic, it only makes sense when LINK is actually widespread used.


NEETs just locking LINK up alone is not value by itself

[Anonymous No.24705884]

>>24705699

Who benefits from a staking rollouts other then the staked?

Honestly bruh, absolutely zero need for it today.

[Anonymous No.24705977]

>>24705884
>Honestly bruh, absolutely zero need for it today.

Then explain to me why anyone should trust a Chainlink node? Or a Chainlink data feed? What's the trust/security model?

[Anonymous No.24706175]

>>24705977
Because it will just be the thing that dominates and that everyone's using. Much like VHS back in the days. Although for different reasons.

[Anonymous No.24706424]

>>24706175
This is pretty delusional, fren. Nothing just "dominates" in the crypto space if it isn't provably secure which is generally some measure of decentralization/number of central points of failure. Imagine the entire crypto space getting data inputs from one company ...

[Anonymous No.24706551]

>>24705977
Currently used exclusively for gambling degens. Do u think they give a fuck about decentralization. These fucks throw 20 Eth on anything trending along coin gecko.

When the institutions arrive, Game On!

Anon I fully understand the importance of decentralized oracles.

[Anonymous No.24706555]

>>24706424
The crypto space will be everyone's place in time. And Link will be the glue that makes it all stick and work together. ETH made it possible.
A transaction might cost an additional link fee of 0.000000000000007 link for businesses... now imagine owning hundreds of thousands of these tokens when that happens. And happen, it will someday.

[Anonymous No.24706563]

>>24706424
Multiple oracles independently providing data. When one of the oracles provides outlier data it is not recognized. This could also help with security right?

[Anonymous No.24706600]

>>24705526

Terrible FUD.

[Anonymous No.24706672]

>>24706563
What’s to prevent them from colluding and what ensures an outlier is a misbehaving node? An outlier could also be a piece of data that’s of higher quality than the rest.

[Anonymous No.24706692]

>>24705526

>why would something that poses a risk to billions of dollars take so long to implement

i wonder why

[Anonymous No.24706803]

I'm about to staaaaaaaake

[Anonymous No.24706843]

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[Anonymous No.24707118]

>>24706692
You think they’ve secretly been working on staking for the last 3 years?

[Anonymous No.24707182]

Rome wasn’t built in a day my street shitting friend

[Anonymous No.24707269]

>>24705526
my a1 sauce has been sitting in the fridge for months.

I NEED STAKE!!!!!!


WHEN STAKE?!??????????

[Anonymous No.24707352]

Rumor is they cant figure out how to do staking. Its causing big issimues and its why sergey has hired so mamy devs

[Anonymous No.24707367]

[Anonymous No.24707430]

1 billion new wallets EOY
Do you find this suspicious?

[Anonymous No.24707479]

>>24705699
The network will be increasingly decentralized. They’ve just announced that Keep3r nodes can transition to link nodes with a good enough reputation. There is a second white paper coming. I will be concerned if it doesn’t get into staking mechanisms. You really don’t think Ari can pull it off?

[Anonymous No.24707620]

>>24707479
>You really don’t think Ari can pull it off?
Ari is a cryptographer. His research isn't in consensus algorithms or statistics, which is what you would need to design a consensus algorithm and thus a staking mechanism for nodes handling nondiscrete data.

[Anonymous No.24707642]

>>24706843
>/business and finance/

[Anonymous No.24707695]

>>24707620
He’s a brilliant mind. I’m sure he can figure it out or help hire the people who can. I ain’t worried.

[Anonymous No.24707890]

>>24706424
they don’t get the data from one company stupid! It’s a fucking network, you still don’t get it right?

[Anonymous No.24707952]

How many links to get my normalcy back?

[Anonymous No.24707979]

>>24707952
How does 100k sound?

[Anonymous No.24708003]

>>24707979
https://www.youtube.com/watch?v=6wYTr8-fORY

[Anonymous No.24708042]

>>24708003
Looks like I can't afford it. I'm "priced" out.

[Anonymous No.24708093]

>>24707890
When I say one company, I mean Chainlink, which configures the network and decides who services data feeds. You are putting your trust in them which is anti-decentralization.

[Anonymous No.24708095]

>>24708042
We told you 3 yeeeeeeeeeeeeaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa
*electrically induced seizure*

[Anonymous No.24708133]

>>24705824
Locking up BET tokens while getting BTC or Eth on crypto casino - https://2no.co/2gZxw5 - does actually makes sense, especially when you're going to sell back with a much higher value of BET tokens. Basic maths.

[Anonymous No.24708145]

>>24705526
PRICED IN AND NO ONE CARES

[Anonymous No.24708149]

>>24708093
Schwab and Chainlink can be trusted. It is trustless you see, dude trust me, you can really trust Schwab and Ari and Sergey. They are very trusting people. Let me tell you all about our trusted Oracles...

[Anonymous No.24709085]

Trustworthy balm man

[Anonymous No.24709178]

>>24709085
bump

[Anonymous No.24709262]

https://reputation.link/
I'm surprised nobody posted this already.

[Anonymous No.24709371]

>>24705526
No because staking is coming in the next 6 months.

[Anonymous No.24709396]

>>24709262
>https://reputation.link/
This falls into the same pitfalls as most data "dashboards". A bunch of useless numbers to impress midwits.

How do you decide based on this information which are the best nodes? Most importantly, which oracles, based on this information, produce the *most accurate* prices? It's a rhetorical questions, since none of the information on reputation.link would answer this.

[Anonymous No.24709427]

>>24709371
Source?

[Anonymous No.24709436]

>>24707118
Obviously they have been working on it.

[Anonymous No.24709493]

>>24709427
The bitgo hire kinda said it all anon.

[Anonymous No.24709538]

>>24707352
I figured he's actually done nothing all these years and just started hiring recently

[Anonymous No.24709580]

>>24709493
>bitgo
You mean Benjamin? What would he know about consensus algorithms and statistics? Two areas at minimum in which you'd have to have expert knowledge in order to develop a consensus algorithm (and thus staking) for nondiscrete data.

[Anonymous No.24709628]

>>24705526
>Staking is the only value proposition for LINK.
No, the value is derived from people believing the price of a link token will be worth more in the future. Same as non-dividend stocks.

[Anonymous No.24709630]

>>24709262
Most successful jobs, uptime etc. Try checking it out first before pretending to know what you're talking about.

[Anonymous No.24709771]

>>24709630
I already responded to this here:
>>24709396

Other than response ratio, none of these metrics are particularly useful. More importantly, none of these metrics tell you how *accurate* a node is. Which one reports the most accurate prices? How would you even measure such a thing?

[Anonymous No.24709909]

>>24709580
He created the Wrapped Bitcoin.
I guess he knows nothing

[Anonymous No.24709946]

Fully entrusted

[Anonymous No.24710022]

>>24709909
Just because someone has expertise in one area doesn't mean they have expertise in another. Anyone who has worked in technical research knows this. I had a math professor in combinatorics who admittedly had trouble with basic concepts in statistics.

How does creating wrapped BTC translate into coming up with an implementation of a novel consensus and staking algorithm for an oracle network? Oracle networks have to deal with nondiscrete data so at the very least the development of such an algorithm would require statistical knowledge and experience with designing consensus algorithms.

[Anonymous No.24710025]

>>24709427
Back in may sergey said staking will be out in the coming months and then also said that staking will be coming sometime this year. That means by the end of may we will have staking.

[Anonymous No.24710051]

>>24709427

[Anonymous No.24710200]

>>24710025
>>24710051
>put up stake against a very clearly laid out set of conditions that relates to data quality
Again, more vagueness. How would you lay out conditions for data quality? Would this require some reference source? Would this require discarding data furthest from the mean (which doesn't necessarily imply it's faulty)?

[Anonymous No.24710605]

>>24710025
the someone asks "what are you doing for the rest of the year?" they don't mean "what are you doing for the next 12 months"

[Anonymous No.24710724]

>>24705699
This is false having LINK staked up doesn't increase value

[Anonymous No.24710756]

>>24710605
https://www.youtube.com/watch?v=ZpvNQvU5dsM

[Anonymous No.24710860]

>>24710724
Lol. Wtf are you talking about? The whole value prop for LINK is that node operators will stake LINK and the amount of staked LINK has to be proportional to the value of the smart contracts relying on that node.