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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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29576833 No.29576833 [Reply] [Original]

Disclaimer: I am neither an insider nor a whale, I am just a random autistic person who through publicly available information has been able to draw a number of interesting conclusions.

Now that OCR is live in mainnet let's discuss what is its significance. Arguably, as soon as OCR is operational, Chainlink has achieved its initial architecture, as illustrated in its whitepaper. Ctrl + F 'OCA' or 'off-chain aggregation protocol' at https://link.smartcontract.com/whitepaper for more information. Most Chainlink use cases relied heavily on achieving OCR, which is the first step toward a network independent of any blockchain without becoming one itself. Such as Fair Sequencing Services (https://blog.chain.link/chainlink-fair-sequencing-services-enabling-a-provably-fair-defi-ecosystem/))
>pic related
There has been a lot of FUD on this topic, with some even claiming that the relationship between Chainlink and Arbitrum is merely coincidental, to the extent that Arbitrum can run on any network. However, there is one thing that people don't seem to be aware of, and that is that Arbitrum needs a fairer method of transaction ordering, and for that they are going to rely on Chainlink's FSS, and this, my friends, will be the first real usecase of staking.
Source: https://github.com/smartcontractkit/arbitrum-quickstart/commit/3601ffa2f79797a0d4208e449c852996123ed83b

>> No.29576936
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29576936

PRICED IN.

>> No.29576998

>>29576833
checked, nice spot OP

>> No.29577081

>>29576833
Although I doubt you'll get meaningful discussion today, every decent thread the last week has been deleted by mods, I think they've been infiltrated desu.

>> No.29577109

>>29576833
Checked. Now that OCR is out I think that Arbitrum will have no issue releasing in a couple weeks which will further lower gas costs. I'd imagine DECO, FSS and staking aren't too far behind either. Staking especially doesn't make sense with high gas costs

>> No.29577274

Can someone spoonfeed me about the ''they don't need Chainlink they will use Ethereum instead'' fud

>> No.29577306

OCR has opened the floodgates to what Chainlink oracles can provide data for.
It's about to be an exponential increase in the amount of data available on the network

>> No.29577344

>>29576833
you know too much, the kill squad is already on the way

>> No.29577405

>>29577274
My god, if this is the level of fud you are currently at then you have no hope. Did you hear that Jason Parser is going to shadowfork as well? Don't buy until after this happens.

>> No.29577412

Just bought 50k link. Thank you bitcoin.

>> No.29577456

>>29577274
it's really difficult to comment on that, because that's as if someone said "you don't really need car, you can burn gasoline yourself"

>> No.29577475
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29577475

>>29576833
So what you're telling me is that now is actually a good time to buy?

>> No.29577535
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29577535

>>29576833
>OCR

>> No.29577589

>>29576833
this man consistently delivers revolutionary updates on revolutionary tech. what will stop him?

>> No.29577666

Yeah I saw it too, in the future work section of the OCR paper. FSS is from september last year tho.
>Finally, we plan to extend the protocol to support generalized aggregation functions rather than just the median, enabling advanced use cases such as Fair Sequencing Services [JBT20].

>> No.29577835

>>29577475
Any time before singularity is a good time to buy. If you look at LINK price and it's below $1000, it's a good time to buy.

>> No.29577957

>>29577535
See you at 1k retard lol

>> No.29578050

>>29577109
looking forward to deco desu, the jp morgan connection is priced in for us but not for normies yet

>> No.29578235

>>29576833
delicious

>> No.29578361

Doesn’t this mean every DeFi app needs to switch to chainlink oracles now or else they lose money because of gas fees?

Is this checkmate? Did we just became the Industry standard?

>> No.29578436
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29578436

Checked thx OP. Even though most of us are lurking in the shadows, we still appreciate the autistic research. Thanks for the crumbs

>> No.29578489

>>29577274
Jason Parser? He’s Rory’s dad. He’s got a problem with Sergey because when Rory and Sergey were friends when they were younger, Sergey used to raid the cupboards and eat everything in the house. It cost Jason Parser a lot of money to replace all the food Sergey used to eat. The final straw was when Sergey was staying at Rory’s one night and stole his car when they were 15 to sneak out to a McDonald’s drivethru. Rory’s dad Jason thinks Sergey is a bad influence on his son and does anything he can to stop them being friends or working together. Why do you think we haven’t heard from Sergey in so long? Jason Parser has been staying with Rory and Sergey has been in hiding shitting his pants.

>> No.29578525

>>29576833
a good thread on /biz/? am I dreaming?

>> No.29578567

>>29578361
All reputable defi apps already use LINK. Those that don't probably never will because they don't give a fuck about security or reliability, so why change anything

>> No.29578608
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29578608

THIS IS IT MARINES. LAST CALL CLIMB ABOARD NOW, WE ARE ON THE LAST SHIP OUT.

AHOY!

>> No.29578669

>>29578567
Compound and MakerDao does not use CL oracles. They were fucking seething a few months ago saying CL will eventually eat up all the profits.

>> No.29578694
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29578694

Anyone else started involuntarily death rattling? When i try to speak to people or even just sitting around i make these hoarse, weak breathing sounds. My skin has begun to fall off, i can feel it, it's not attached to anything beneath and it'll never go back if i pull it too hard. I'm getting tinnitus all the time and i can barely see, like black spots and bright lights flashing. Doesn't really matter as there's nothing i want to see. I'm just so fucking tired i feel like i could sleep and never wake up, i want that and i'm too tired to hide it anymore. This ugly skin just keeps moving around, i'm afraid it could pull on the nerves and break them, that could never be fixed if it did happen, just another thing permanently broken. My skull's getting soft too, rub it too hard and it'll crack. Fall and it'll definitely break. Holding link has been the worst choice i ever made, i'm embarrassed and i'm ashamed.

>> No.29578958

>>29576833
well done, well done
now it's time to dump bitcoin

>> No.29579036

This update is literally to big brained for the market to notice

Funny thing is, on the back end of things nodes are now way more profitable to run so we can imagine what that will do to LINK on the market as new operators come online

>> No.29579051

>>29576833
i missed you guys
really been bored of the autists here.

pretty excited
btw
anyone participating in the upcoming hackathon?

>> No.29579149

I can't decide what to do guys.

I'm currently
56.5% Link
29.9% Eth
13.6% Vsp

My Link will be all long term gains by June (it should have been years ago, but I gambled too much).

Do I leave it alone, or should I be all in Link at this point?

>> No.29579243
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29579243

>>29576833
Hi anon. Thanks for this. I like what you say about FSS. More precisely this looks like an essential task always running in the background. Makes me think that this will provide an insane number of jobs for nodes. Am I right to think this could be an excellent news for say linkpool holders (especially if as you suggest this task requires staking)? One thing though, I haven't seen any job related to this on Chainlink market, is it because it isn't implemented yet? What job should I look for to detect this activity?

>> No.29579329

>>29579149
you are asking on /biz/ if you should be all in on link? fucking kek
obviously retard
or you join the degens gambling their lunch money on rubic

>> No.29579392

>>29576833
Very good thread, can't wait to see arbitrum in full production

>> No.29579417

>>29579149
ALL IN LINK

>> No.29579517

>>29577109
Arbitrum releasing has literally nothing to do with OCR.

>> No.29579519

>>29579329
I did make a lot gambling on Asko though...

>> No.29579583

>>29579519
ey it's your decision fren some people are just ngmi I guess

>> No.29579587

>>29577589
Indolence and an inability to follow through.

>> No.29579669

>>29578361
Not really, they can keep using singular APIs if they wish.

>> No.29579762
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29579762

>>29578694

>> No.29579772

>>29579517
wouldn't they synergize to reduce gas fees between nodes even further?

>> No.29579876

>>29579772
They can but arbitrum's release is still independent.

>> No.29580072
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29580072

>>29578694

>> No.29580225

>>29579583
My only worry is whether or not I have enough. The half of my portfolio in Link isn't going anywhere. Thanks for the advice.

>> No.29580226

Reminder Sergey continues to dump $1.5mill every week
Once he's done dumping, he will create new tokens and continue to dump.

>> No.29580233

>>29578694
Turn back now link marines or this is the inescapable fate that awaits you.

>> No.29580241

nice bread op. i didn’t even know OCR was in the original WP kek

>> No.29580306

>>29580226
> he thinks the token sales are $1.5m
To live as blissfully as a babe.

>> No.29580315

Sell my BTC for LINK now you say?

>> No.29580343

how would the market react if Sergey stopped dumping all of a sudden?

>> No.29580547
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29580547

honestly, is it too late to make it with LINK?

It costs 30 fucking thousand for a suicide stack right now. And I only have one suicide stack

>> No.29580553
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29580553

>>29578694
Bro?

>> No.29580590

>>29578361
>Did we just became the Industry standard?
Always have been

>> No.29580591

>>29576833
50k-holding retard here that liked the memes and thought it seemed interesting. I can say with certitude that 99% of people in crypto have no idea what the fuck you're talking about and that it will have absolutely no effect on price action. I have had lots of people hitting me up about getting into crypto and they're all even more retarded than I am.

>> No.29580861

>>29580547
I missed monday and tuesday. been trying to get in at at least 25. getting angsty but hoping for a another dip at 30.

>> No.29580968

Announcement. https://blog.chain.link/off-chain-reporting-live-on-mainnet/

>> No.29581905

>>29579876
Arbitrum requires FSS to prevent a big attack vector from being exploited

>>29579392
>>29579243
>>29579051
>>29578958
>>29578525
>>29578235
>>29576998
>>29577081
>>29577109
Thank you frens, wagmi

>> No.29582603

>>29578436
Stay cozy Pepe