Here's what is going to trigger the greatest bullrun of all time.

[Anonymous No.9686487]

The current state of cryptocurrency is only useful for sending/receiving smart contract tokens. It doesn't have any usefully yet.

However, once Chainlink launches its mainnet, we'll see all the corporations and enterprises utilzing Chainlink network to connect their legacy backend system and real world data to the blockchain via decentralized oracles.

Then we will see a glimpse of the potential of what smart contracts can do. This in turn will cause an extreme case of fomo similar to ethereum in its early days.

[Anonymous No.9686523]

this is what delusion looks like

[Anonymous No.9686535]

>>9686523
this is what a shill looks like

[Warlord !1GS3StGNTw No.9686552]

[Warlord !1GS3StGNTw No.9686567]

[Warlord !1GS3StGNTw No.9686584]

[Anonymous No.9686588]

>>9686487
if this is true based on my calculations from pivotal i expect the bull run to start in mid 2019 when chainlink main net starts. See they have 120 pivotal tasks and they add 3-5 more a week while finishing 5-10. Do the math

[Anonymous No.9686603]

>>9686487
My company needs to get car price data on a regular basis and would love to be able to divine car pricing info through chainlink.

How would that work on the platform? It seems like no easy task to get multiple nodes to agree on a single price.

[Anonymous No.9686608]

>>9686588
Muh 2019 FUD

[Anonymous No.9686618]

>>9686535
fuck off

[Anonymous No.9686633]

>>9686603
White paper, read it

[Anonymous No.9686656]

>>9686603
Hear it from the horse's mouth https://www.youtube.com/watch?v=kW27zYIxZhY

[Anonymous No.9686658]

>>9686603
Getting the data via Chainlink is only valuable if you intend to execute something automatically based on a certain price. Oracles just get info via kbb or whatever authority values the cars. They agree on the value because they report it as given, served straight up. If you want random people valuing cars, you’d need some kind of prediction market. It’s inefficient because humans, but with cars it might work cuz there’s a lot of car geeks out there

[Anonymous No.9686663]

>>9686633
That's what I'm going over now, but this doesn't even make sense. These are just node operators voting on an answer. That's not actually solving the oracle problem.

[Anonymous No.9686675]

>>9686658
So why wouldn't I just use an API to pull my info requests for a smart contract from Kelly Blue Book? It seems much faster and simpler and something both parties can agree on.

[Anonymous No.9686691]

>>9686663
>>9686675
Muh "didn't read the white paper" FUD

[Anonymous No.9686692]

>>9686487
>Chainlink launches its mainnet
Something I've been wondering, isn't it just that they'll release it to the ETH mainnet?

[Anonymous No.9686705]

>>9686691
Uh, not really. Just asking questions because the white paper isn't that clear. No need to be a needledick about it.

[Anonymous No.9686735]

>>9686705
White paper is crystal clear.

[Anonymous No.9686752]

>>9686735
So what's stopping someone from paying off a bunch of nodes to provide a false answer? What's the legal recourse?

[Anonymous No.9686833]

>>9686675
Yes you can do that and that’s what Chainlink does. You just were saying about how it seems hard to get nodes to agree on a value. But the queries are dictated by the contract, and so all nodes will agree so long as they are not faulty or compromised. Furthermore, the contract can request multiple sources in case one website goes down, and aggregate the values returned from the multiple sources.

[Anonymous No.9686894]

>>9686752
I guess you could try, but the idea is these nodes are independent actors. They don’t know if other nodes will accept the bribe and give the same wrong value. If they don’t have majority support in the attack, they will have reputation damage and penalty stake losses. It’s game theory, the reward of being honest outweighs the risk involved with cheating.

If I was approached by an unknown person offering me a bribe to cheat, I’d be more suspicious that they are trying to con me into losing my penalty stake or to take me out as a competitor rather than they’re trying to orchestrate an authentic attack on the contract

[Anonymous No.9686903]

>>9686833
Why wouldn't I just have an API pull data from both KBB and Autotrader then?

It's starting to sound like adding more points of failure just increases the chances of bad data.

[Anonymous No.9686933]

>>9686903
>adding more points of failure just increases the chances of bad data.
If you are talking about chainlink; the exact opposite is true. Have you googled this at all?

[Anonymous No.9686968]

>>9686933
I have and I've read the whitepaper and listened to videos.

There's no advantage over pulling a price from KBB directly vs getting 50 people looking up the price and getting back to you much slower at a much higher cost.

[Anonymous No.9686997]

>>9686903
Well if you want to use that data to execute a smart contract, you need an oracle. Whether or not it’s Chainlink, you need some oracle to do that.

I guess the question is, do you really need to execute smart contracts on the blockchain to do whatever you want to do with the car value data? If no, you don’t need to mess around with any of this stuff

[Anonymous No.9687028]

>>9686968
Pretty sure you are braindead or never worked in a technical field..

[Anonymous No.9687110]

>>9687028
After all the Illuminati psyops bullshit lately, I’m finding it really relaxing to help newfags understand how oracles work

[Anonymous No.9687178]

>>9686968
God damn I love reading posts by brainlet trying to understand ChainLink. Gets me rock fucking hard knowing I'm going to make it and they will stay poor.

[Anonymous No.9687202]

Chainlink has been shilled harder on 4chan than even Trump during his run against Hillary.

If that doesn't convince newbs, nothing will.

[Anonymous No.9687271]

>>9687202
Most still won't invest because they are incapable of understanding so to them it's basically gambling.

[Anonymous No.9687301]

>>9686968
>There's no advantage over pulling a price from KBB directly vs getting 50 people looking up the price and getting back to you much slower at a much higher cost.

If you want that data to power your smart contract, then you need something to make that data accessible to your smart contract. For example, in ethereum's case, if I understand correctly, a smart contract can only read information that is written on the ethereum blockchain. It can't make http requests to an external API, like say, a blue book API.

Instead, a contract has to do something to indicate that it wants a certain kind of data and then something outside ethereum has to get the data and write it to the blockchain. That's what an "oracle" does.

If you really just want data from a single, specific source, then there are solutions that seem like glorified proxies that just call the API "requested" by the smart contract and "return" the result by writing to the blockchain. E.g., Oraclize seems like something that does this.

However, the bet by chainlink is that much of the data desired by smart contracts will not be of the simple kind where you can just call a known API that you trust.

It's a little unclear to me what the scope of this data will be.

I can imagine weather sensors for insurance payouts or something. Vehicle speed sensors for insurance purposes. Maybe supply chain use-cases.

But basic API calls? Seems like link tokens merely incentivizes people to proactively make data available to smart contracts, but I'm not sure how well it work.

[Anonymous No.9687314]

>>9687028


>>9687178
non argument
this is what shills backed into a corner looks like

[Anonymous No.9687363]

>>9686523
So what will corporations use blockchain technology for? Buy and receive tokens? 90% of these ico projects are scam but that doesn't mean we can't make money off scam projects.

Corporations don't even care about the next blockchain 3.0 projects. They have hyperledger. All they need now are oracles to allow input/output data secure end-to-end.

[Anonymous No.9687369]

>>9686903
Traditional companies will start providing their data APIs from mulitple distributed data sources as the world will value the decentralized data sources more than the centralized one.

https://twitter.com/sergeynazarov/status/965781130539511809?lang=en

[Anonymous No.9687414]

I think people don’t appreciate how general chainlink’s solution is.

what it really does is securitises trust, for any digitisable input, in a general-purpose fashion for delivery to a blockchain.

once it gets off the ground, it will completely flip the relationship that businesses and any other financial entities have with blockchains, as it turns from a push to a pull phenomenon; entities will seek out the blockchain because that is where the problem of securitisable trust has been solved, most thoroughly and generally, by chainlink.

> inb4 ‘mother of god, this anon gets it’

[Anonymous No.9687433]

>>9687414
Thats all well and good, but when moon?

[Anonymous No.9687503]

>>9687178

I'm very heavy in LINK, know the whitepaper inside out, and excited about what they're accomplishing.

But your post is so full of insecurity and cringe... Why don't you try to help people understand why it's a game changer instead of belittling them into FOMO?

My guess is you can't but you should if you're invested, when LINK has tanked in the past it's clear the majority don't understand it and panic sell, those that do understand hold with iron fists.

The more people that can understand it the more iron fists you'll have during crashes, I actually hold this harder then ethereum.

I'm going to put together some ELI5 material that explains this, maybe you should do the same

[Anonymous No.9687695]

>>9687503
Great idea

[Anonymous No.9687702]

Spread the sigil meme

[Anonymous No.9687710]

[Anonymous No.9687800]

>>9687301
Examples of data that might be provided by oracles include:

Random numbers/entropy from physical sources (e.g. quantum/thermal phenomenon): to fairly select a winner in a lottery smart contract

Parametric triggers indexed to natural hazards: triggering of catastrophe bond smart contracts (e.g. wind speed for a hurricane bond)

Exchange rate data: accurate pegging of stablecoins to fiat currency

Capital markets data: pricing baskets of tokenized assets/securities

Benchmark reference data: incorporating interest rates into smart financial derivatives

Static/pseudo-static data: security identifiers, country codes, currency codes

Time and Interval data: Event triggers grounded in precise SI time measurement

Weather data: insurance premium calculation based on a weather forecast

Political events: prediction market resolution

Sporting events: prediction market resolution and fantasy sports contracts

Geo-location data: supply chain tracking

Damage verification: insurance contracts

Events occurring on other blockchains: interoperability functions

Transaction gas price: gas price oracles

Flight delays: insurance contracts

[Anonymous No.9687898]

>>9687710
amazing

[Anonymous No.9687961]

>>9687710
fresh

[Anonymous No.9688216]

>>9687961
The Saturn Cube and Sigil Link are my two new favorite Chainlink Memes.

[Anonymous No.9688226]

>>9687710
That's just beautiful.
Can someone please post this to Rory?