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/biz/ - Business & Finance

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21181196 No.21181196 [Reply] [Original]

1. Chainlink nodes will be paid in LINK tokens only. There will be conversion tools for people that want to use fiat but will be converted to LINK. Only LINK tokens can power the network since the nature of ERC-677 token, built specifically for LINK, is to transfer data.

2. LINK tokens are used as collateral value. Smartcontracts will use Chainlink nodes that carry a % value of LINK to the value of the Smartcontract. So yes, you can start a node without LINK but no one will use it. High value smartcontracts or any contract that has value will use nodes that carry the same or a % of value of LINK.

3. Decentralized networks that are home to smartcontracts will need decentralized data to execute. Chainlink is currently the only option. Thats why you will see everyone in this space partner with Chainlink

So....

Smart contract creators will demand a certain level of reputation or amount of collateral, to be paid in LINK tokens, that suits the value of their smart contract. A $1million bond would require a lot more collateral, than, say a smart contract dealing with $100. You wouldn't select the low rep/low collateral available nodes for something like a huge bond. Chainlink is actually targeting these high value contracts. Sergey has discussed at length why high value contracts in the financial world require a decentralized oracle: it puts all the risk onto the oracle rather than the smart contract creator. The smart contract creator doesn't risk losing money - the node operators do. The Chainlink network is genius like that. It is fundamentally backed by the truth.

There is infinite amount of collateral available because the token price can rise to meet it (Note: the token is divisible by 18 decimal places).

Now you have to research how large ALL these markets are. derivatives, insurance etc... hint: Trillions.

Is 1000$ really possibly in say the next 3-5 years?

>> No.21181433

>>21181196
bumperuni!

>> No.21181517

>>21181196
bump the pump

>> No.21181756

So when you're staking, the rate (not the absolute value, which is based on the amount of Link staked, but the %) of return will be based on both the value of the data you have access to and the reputation of your node?

>> No.21182041

>>21181756
hit the archives fren

>> No.21182146

>>21181196
bamp

>> No.21182344

>>21182041
Got any good threads saved to start me off?

>> No.21182623

>>21182344
no man, i wouldnt give them to you anyway. making it easy for you would just make you sell early.

>> No.21183232

bumperooni

>> No.21183334
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21183334

>>21181196

>> No.21183567

>>21181196
bumper cars

>> No.21183848

>>21182623
>sell early
Not gonna happen.
I just don't see why you're even bothering to bump a thread on a topic you have no interest in adding to

>> No.21183895
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21183895

>>21181196
>possible

Inevitable.

>> No.21183916

ETH doesn't fucking scale!!!!! Anything build on top of it doesn't fucking scale!!!!

>> No.21184090

>>21183848
do you how how to google?
>>21183916
>he doesnt know about arbitrum
tsk tsk

>> No.21184204

>your node fucks up
>you loose all your link

Genius.

>> No.21184318

>>21184204
>what is redundancy

>> No.21184770

>>21184090
>thread on a topic
>go read somewhere else about the topic
Yeah, I know how to do research anon. But what's the point of this thread other than you masturbating about how much you know?