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/biz/ - Business & Finance

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23105433 No.23105433 [Reply] [Original]

This will be my good deed for today, 1 spoonfeed.

The tokenomics of the LINK token.
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. at the end of the day 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 $100. You wouldn't select the low rep/low collateral available nodes for something like a huge bond. Chainlink is actually targeting these high value contracts. Sergey has discussed at length why high value contracts in the financial world require a decentralized oracle: it puts all the risk onto the oracle rather than the smart contract creator. The smart contract creator doesn't risk losing money - the node operators do. The Chainlink network is genius like that.
There is infinite amount of collateral available because the
token price can rise to meet it.
Now you have to research how large ALL these markets are. derivatives, insurance etc... hint: Trillions.
Is 1000$ really possibly in say the next 3-4-5 years?

>> No.23105686
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23105686

everybody knows, have a bump

>> No.23106030

>>23105433
checked nug poster

>> No.23106298

This is just a basic description of how the network works, not a breadcrumb

>> No.23106492

>>23106298
What breadcrumbs are you waiting for? The info is out, and since 4chan autists were too much involved they had to ramp up their security to not spook bigger players. Just wait and enjoy the firework

>> No.23107306

>>23106492
This but 1000 in 3 years? Try 15 months

>> No.23107354

>>23106298
its a crumb of op's crack rock he dropped on the carpet

>> No.23107862

>>23107306
we will see. But there is still the frogs and the twitter fags to be dealt with. As they don't seem to be capable of deciding for an option, I will go ahead and get law enforcement involved and give defrauded participants in experiments the option for civil law suits.

>> No.23108099

>>23105433
So say I create a smart contract, hedge fund type that has some semi-automatic backstops for exiting risky investments based on some real events. Suppose this contract gets wrong data and fails to do the exit and in consequence loses money, does the hedge fund then get the full collateral, what if the losses were minimal or even no loss on receiving wrong data (perhaps a missed profit possibility) still full payout? It's like getting insurance payout everytime incorrect data is ingested? How will it determine that the right/wrong data was given, via aggregator? But if there's aggregation then the hedge fund coņtract should still receive correct data right?