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

/biz/ - Business & Finance

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8819473 No.8819473 [Reply] [Original]

I moustache you a question. why is there a benefit to having a decentralized oracle when both parties of interest involved in a smart contract could just query the offchain data themselves to make sure the person on the other side of the smart contract isn't lying to prematurely fulfill their side of the deal? inb4 butthurt adhominem attacks

>> No.8819483

>>8819473
DYOR

>> No.8819488

>>8819473
and by lying i mean intercepted a centralized oracle's data before it hits the chain and cracked it to input bogus data

>> No.8819494

>>8819483
i consider myself a smart man. for all i know I may have found a pitfall in the system

>> No.8819497

>make both parties do more work for a less trustworthy result instead of putting up a relatively small amount of money to pay for the decentralized solution

>> No.8819555

>>8819473
Where are her pants? Why no pants? Why can't I go outside with no pants?

>> No.8819562

>>8819473
Another disguised Chainlink thread.

Adding Oracle to my filter now

>> No.8819570
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8819570

>>8819494

>> No.8819624

>>8819555
under(wear)rated

>> No.8819629

>>8819473
Because the parties don't trust each other. There may be an incentive for both of us to lie.

>> No.8819648

>>8819629
Might there be incentive for multiple parties to lie?

>> No.8819661

>>8819570
Wow biz really is an echo chamber. I started sing this brainlet jpg days ago and i've already seen it 6 times today. i should really get off the computer .

>> No.8819680
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8819680

>>8819661
Wow biz really is an echo chamber. I started sing this brainlet jpg days ago and i've already seen it 6 times today. i should really get off the computer .

>> No.8819691

>>8819555

Checked. And you probably could if you had Tbones legs.

>> No.8819725

>>8819648
Sure, that's a problem. But if I'm making a deal with you I prefer a random dude as a referee than you.

>> No.8819752

>>8819691
I have thicc, muscular and hairy legs from doing heavy squats. I'm a big boi.

Thank you fit.

>> No.8819762
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8819762

>>8819473
>spade necklace

>> No.8819828

>>8819494
You are literally asking:

"Why would any major company use X software when they can just hire their own engineers to program their own."

>> No.8819844
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8819844

>>8819473

>I moustache you a question

>> No.8819863

>>8819828
no, I'm asking what benefit a decentralized oracle has over a centralized one given that the scenario i mentioned seems to make a decentralized one pointless

>> No.8820093
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8820093

**ENHANCE THAT IMAGE**

>> No.8820121

>>8819762
shopped.


tay-tay is the most pure waifu.

>> No.8820411

>>8819473
i look forward to the day pantsu is acceptable fashion

>> No.8820468

suppose side a buys something from side b. the contract is set to pay side b when the package arrives at the post office. when the package arrives, side a has an interest to deny receiving the package so he doesn't have to pay. now side b queries the data source and finds out the package arrived. he asks side a to query the source but side a spoofs the result so it says he did not receive the package.
there are two problems:
1. you have to ask both sides to query the data source themselves
2. if one side spoofs the result you cannot settle the contradiction without a third party

>> No.8820558

>gambling services need decentralized oracles so they can ask a dozen nodes for results of the handegg game when they can just pull results straight from NFL api
the real use of decentralized oracles is limited. And no actual money moves through the chainlink tokens, contracts would be settled in btc or eth or neo or whatever.
Bag holders really need to do some research and not just stalk github contributors or fake slack accounts linked to unrelated socials

>> No.8820574

>>8819473
because that's not truly trustless. the reason you have third parties involved in this process (lawyers, accountants, etc) is because you need an effectively trustless transaction.

a decentralised answer to the oracle problem is an important part in a decentralised smart contract system. smart contracts are a trustless method of transacting.

tl;dr buy link

>> No.8820591

Here's another thing for you to consider OP. A lot of /biz/ users will tell you to make decentralised smart contracts tamperproof and trustless, you need to decentralise the oracle process. What a lot of /biz/ users fail to recognise is the API process is still centralised and thus negates the whole thing.

>> No.8820659

Sad state when one has to show their crotch to look sext

>> No.8820686

Just like >>8820468 said, it's always in the best interest for 1 of the parties to lie. Then what happens in a disagreement? You get someone without a vested interest to get the data for you >> A chainlink oracle.

>> No.8820699

>>8820659
I show my crotch regularly and no one considers me sexy baka

>> No.8820702

>>8820591
>chainlink doesn't solve a problem it never set out to solve
>this negates the whole thing
the absolute state of nolinkies

>> No.8820800

>>8820702
great job refuting my point

>> No.8820961

>>8820468
but in this example the only reason one side doesn't want to settle the contract is because he already received goods. this isn't how smart contracts work in the real world though - all goods received will be via the blockchain and take the form of cryptocurrency.

>> No.8820981

>>8819473
Taylor I love you

>> No.8821191

>>8819494
>i consider myself a smart man, so smart that I know better than the people who want decentralised oracles in the first place
>>8820800
>great job refuting my point
He did

>> No.8821599

>>8819473
TAYLOR I LOVE YOU SO MUCH

>> No.8821661
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8821661

>>8821599
not anymore you don't

>> No.8821688

>>8821661
HEY WTF

I don't care about the necklace but the pants are dissapointing :(

>> No.8822013
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8822013

>>8819473
shut up and throw your money in LINK

>> No.8822038

>>8819473
she's so beautiful

>> No.8822057

>>8819473
how much link to buy her for a night in 2020?