[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 279 KB, 611x659, kraken chainlink sources sign their data.png [View same] [iqdb] [saucenao] [google]
27346559 No.27346559 [Reply] [Original]

>once sources start signing their data, Chainlink will be obsole...

>> No.27346665

>>27346559
There's no way Adelyn wrote this, she cannot fathom the difference between it's and its
Sergey probably took over the twitter account to make sure it's correct

>> No.27346895

>>27346559
Lmao this “sources will just sign their own data” shit was such a staple of 2018 fud.

>> No.27346896
File: 269 KB, 657x527, 1keoy.png [View same] [iqdb] [saucenao] [google]
27346896

this is comfy

>> No.27347004

>>27346559
when will this shit be 1k? which fucking year is eoy? i'm getting impatient.

>> No.27347109

>>27346559
ORACLES ARE NOT A GOOD INVESTMENT. It was a speculative bubble. Lmao.

>> No.27347209

>>27347004
Chainlink will increase by 1k every year until the last second of the last hour forevermore

>> No.27347227

>>27346559
Does it have to do with T-Sigs (Tranny Signatures) ?
If so, is Gilles part of the project?

>> No.27347347

>>27347227
No. When sources sign their own data, it's simply a way to verify on-chain who the source of the data is.
It makes Chainlink as a system that much more robust, but fudders tried to claim for years that this would make Chainlink obsolete.

>> No.27347352

>>27347004
Thats the joke nu fren, the year wasn’t specified

>TONIGHT
>ITS HAPPENING

>> No.27347370

>>27346895
Frankly I still don’t understand why sources signing their data doesn’t solve the oracle problem but whatever desu

t. link captain

>> No.27347612

>>27346665
fpbp

>> No.27347763

absolutely awful art what the fuck is wrong with people

>> No.27347802

>>27347370
>I still don’t understand why sources signing their data doesn’t solve the oracle problem
The data still needs to get put on-chain by a robust, decentralized system with adequate redundancies.

For instance: if Kraken ran their own oracle and signed its own data via this oracle, you get the following drawbacks:
>the code is unique to this oracle, and therefore is not universally tested and verified
>this single oracle can crap out, causing everyone depending on it to be left hanging (this happened multiple times with the Coinbase oracle used by Compound)
>this single oracle is a single point of attack, if it falls the entire system falls
>the oracle operator knows what data is being transmitted, making it an easier vector for fraud (with Chainlink the data and contract can be hidden from the node operator)
>etc.

I've been explaining this since 2017.

>> No.27348115

>>27347763
It just looks weird because this type of art usually has black men and veiled Muslim women in it.

>> No.27348315

>>27347802
good explanation thank you rory

>> No.27348357

>>27346559
Link holders are absolutely delusional.

Link is the perfect normie coin. It's got a cool logo, it's $20/coin, and "muh oracles" is just technically sophisticated enough for normies to understand but too sophisticated for normies to dive deep enough to realize Link just isn't needed.

If smart contracts actually start being used in the real world (no, making ERC-20 scamcoins doesn't count) then some will require Oracles. But an Oracle is just a JSON parser with some voting mechanisms baked in. It's not something you need BILLIONS of dollars and YEARS to develop. It's not something you need "partnerships" for. You sit down, write the code, and you're done. Chainlink isn't in the Oracle business. They're a branding machine. Their sole objective is pumping the price of their asset, Link. An asset, by the way, they own 60% of. Yes, 60%.

When the time comes Oracles will be written on the native platform (probably Ethereum) and they'll use the native token (Ether). No one is going to need Link, no one is going to buy Link. Nobody will care. This project, along with all the other fad-projects will fade into obscurity. I won't speculate on price, this entire market is an irrational frenzy. Perhaps there is still room to grow, more money to be made. Just know you stand on 0 fundamentals and in the end fundamentals will prevail.

>> No.27348430

>>27348115
it is truly weird how fast this globohomo art style spread

>> No.27348497
File: 332 KB, 629x1473, coinbase dispels chainlink oracle fud.png [View same] [iqdb] [saucenao] [google]
27348497

>>27348315
lmao, Coinbase and Compound explained the same thing back when they launched the "open oracle" (which fudders were convinced would be the Chainlink killer lmao).
See pic.

>> No.27348599

>>27348430
You should visit a hospital in western Europe.
It's all bmwf cartoon art on the walls and on leaflets.

>> No.27348728

>>27348357
A good post on biz? The fabric of reality is wrinkled.

>> No.27348800

>>27346559
nice, I just signed up for Kraken yesterday.

>> No.27348926

>>27348497
I wonder if coinbase is going to call it and just use chainlink soon. If the guy in pic related is in charge it might happen, he doesn’t seem dumb. The point he’s making though reminds me of the oraclize retards trying to argue that chainlink as a decentralized network would actually be centralized because they were all running the same chainlink software or something. Stupid

>> No.27349157

>>27348599
the same thing is happening with netflix shows and ads. Globohomo is truly a sight to behold

>> No.27349220

>>27348497
wait so Coinbase was trying to run centralized broadcast, while Kraken has integrated decentralized broadcast?

>> No.27349244
File: 127 KB, 520x769, compound leshner oracle exploit attack hack.jpg [View same] [iqdb] [saucenao] [google]
27349244

>>27348926
>I wonder if coinbase is going to call it and just use chainlink soon.
Coinbase running its own node makes sense, not much more they can do (although it would obv. be better if they used Chainlink, like Kraken).

But the real retards are Compound.
How many times do you have to get raped in your sleep by the same donkey before you go "hmm maybe I need a better donkey".

>> No.27349317

>>27348599
Short the west.

>> No.27349395

>>27349244
I remember that hack. It is absolutely befuddling that they haven’t switched. One of the reasons I use aave for loans

>> No.27349960

>>27349220
Coinbase developed a basic centralized oracle with Compound, and started providing signed data to Compound.
This single oracle from a single price source is all Compound uses.
During the ETH crash on Nov 26th, this oracle has predictably failed, causing nearly $100 million in losses to Compound users.
Chainlink's oracles just kept chugging along during the same event thanks to the decentralized security and redundancy.

Now Kraken is running a Chainlink node, which can be used in conjunction with the other nodes that call Kraken (or call aggregators that include Kraken).

This Kraken node is just a part of an intricate system, while the Compound oracle is a centralized point of failure.

>> No.27350812
File: 26 KB, 619x303, rleshner sympathizes with victims of his centralized compound system.png [View same] [iqdb] [saucenao] [google]
27350812

>>27349395
Leshner's ego is way too huge for that.
He completely ignored the fact that this was an oracle failure, and proceeded to blame the victims.

>> No.27351126

>>27346559
does this make api3 pointless?

>> No.27351275

>>27347763
globohomo art is the new craze

>> No.27351302

>>27351126
Pretty much.
API3's specific system is very easily replicated within Chainlink.

Thing is, that was always the case. Who knows why they thought it was a good idea to branch off and posture as a separate solution.

>> No.27351347

>>27351126
yes

>> No.27351630
File: 119 KB, 1191x826, link facepalm.jpg [View same] [iqdb] [saucenao] [google]
27351630

>important news announced
>link dumps
clockwork

>> No.27351637

>>27347802
thanks thomas

>> No.27351861

>>27346559
shit it's true.
I need more links, now!

>> No.27352036

>>27351630
Just buy the dip, faggot

>> No.27352186

oracles were a speculative bubble
fact is they are a utility, like your electric bill or water bill
utilities are not intended to do 100x, 10x, or even 2x

>> No.27352327
File: 190 KB, 499x501, 67783B96-38B3-4596-A9C5-A7EE75F683DF.png [View same] [iqdb] [saucenao] [google]
27352327

You were warned

>> No.27352377

>>27346559
If they push their signed data, anyone can take that directly without paying anything to link nodes

>> No.27352528

Extremely bullish

>> No.27352570

>>27352186
think of it more like the power company, not the power

>> No.27352579

>>27350812
Yeah it was user’s risk. Everyone would just leave Compound and use other platforms after that hack

>> No.27352591

>>27352327
>pnk
oh no no no

>> No.27352716

I don't hold much link but I still want it to be everywhere so there's no terrible price info to cuck me. Isn't that reasonable?

>> No.27352763

>price crash 10%

next

>> No.27352809

>>27352377
>If they push their signed data
By "push" you mean "place on-chain via an oracle".
And the best oracle out there is Chainlink, which is why Kraken is "pushing" its signed data via Chainlink.
Remember Coinbase "pushing" its signed data via an in-house oracle? It shat the bed and nearly $100 million went up in smoke.

Unbelievable that some of you faggots are still clinging to this, when Kraken is literally slapping you in the face with counterproof.

>> No.27353131

>>27347004
>>27350873
>>27350873
>>27350873
>>27350873
>>27350873
It will happen. Be patient friend, we will make it.

>> No.27353147

>>27346559
>>27346895
>>27347802
A) It's 2021 B) still a solution looking for a problem C) quantum D) real companies use lawyers not stupid data tattoos

>> No.27353167
File: 34 KB, 201x802, SmartSelect_20210201-141506_Binance.jpg [View same] [iqdb] [saucenao] [google]
27353167

>>27346559
Lmao sergay has a talk, LINK.......

>> No.27353253

>>27346665
Kek

>> No.27353283

>>27353167
Some people are not meant to be rich.

>> No.27353393

>>27353283
Accumulate. Our ancestors will be proud.

>> No.27353496

>>27353147
>decentralized system using a lawyer
Go back to rëddit. You have no concept of what the blockchain is, or what defi is trying to achieve

>> No.27353645

I’m panic buying. I know I had three years

>> No.27353683

>good news
>dumps
Yeah typical LINK behavior on bullish news. I'm buying more.

>> No.27354678

>>27351126
API3 has been pointless from day 1.

>> No.27354865

>>27351630
Given how many times this has happened there’s only one conclusion: bullish in the medium-long term. LINK has always done this. Once it moons it violently moons.

>> No.27355024

>>27352528
Did this faggot forget to take off his trip (again)?

>> No.27355313

>>27352809
It doesn't matter how they place it, once it's in public there's no reason to pay link anymore.
Coinbase is good for bigger cryptos, the problem was that compound was retarded to use it for dai. Link isn't safe for dai too because it has low cex liquidity.

>> No.27356028

>>27355313
>once it's in public
Anon, it's not supposed to be "in public", it's supposed to be on chain lmao.

>Coinbase is good for bigger cryptos, the problem was that compound was retarded to use it for dai.
lmao this is technobabble gibberish.
The problem was Coinbase was the only source, and all they used was a single centralized oracle.
The oracle failed, and nearly $100 million in Compound user funds went poof.

>Link isn't safe for dai too because it has low cex liquidity.
lel, this is just as nonsensical as saying "wheels aren't good for trees because they have low metabolism".

>> No.27356417

>>27354865
The predictions are true. In six to eight weeks we will go on a moon mission beyond $100, March will be insane. Strap in lads, the rocket is ready to launch.

>> No.27356791

>>27356417
but i need more time to accumulate more :(
give me another year please :(
i dont wanna make a few hundred thousands, i need millions.

>> No.27356934

>>27356417
I second this analysis.

>> No.27357136

>>27356791
What have you been doing for the last three years?

>> No.27357412

Oh look its fucking dumping again.
Where is the juicy pump

>> No.27357744

>>27357136
i lost 30k links gambling in 2019.
i sold all my btc and eth to pay medical bills.
i'm not getting my citadel because im a retard, but i will make sure to accumulate as much as i can before 1k.

>> No.27357891

>>27357136
and yeah ive learned my lesson on gambling. the only FAST way to get coins is to hold. 50/50 for a 2x is for retards when holding is a 100x every time.

>> No.27358136

>>27350812
hes a kike thats wants sole control/monoply

you guys gotta understand that link is the jew killer. The whole reason jews have been able to inject their bullshit and always have their kike nose in everything because they are the ultimate money changers monopoly holders. Crypto and chainlink network is at ware with a 1000 year kike cult who have hindered man kind every time we tryied to push forward. If we can remove kikes power over money and data they will be lose all ability to be at the center ov everything. It will be a decentralized oracle network