/biz/ - Business & Finance

>>13840078
A classic. Sergey will rekt the bears

Yo /biz/, follow linkmarines to stay forever stinky

>>3967391

>>3913423
>>3913403
>>3913384
>>3913371
>>3913351

2. It is possible to use external data to inform these contracts, but right now that process is centralized. This is a problem. Lets say the external data is a transaction of Dollars for ETH. So you send 300$ to bank account X, and then I send one Eth to your address. Right now you either do that through a third party (CoinBase), OTC (LocalBitcoins) or whatever else centrlized system you want to use.

Knocking out that centralization, where you have to trust someone, is THE key to SmartContracts having a real world use case. But how do you get that information -- the fact that the $300 has been sent -- onto the blockchain using data that the smartcontract understands?

3. Oracles. Right now the answer is "hey we can hire Oracle X to do the translation to represent this bank dollar transaction on the blockchain." The "oracle problem" with this is that you are 100% TRUSTING that oracle to act prudently. That they don't tamper with the data. So we can kill coinbase but now we have to trust the oracle instead of coinbase .This is a HUGE problem for Banks who want to get into blockchain but have to trust a centralized oracle to translate data. This Oracle can be hacked, falsified, defrauded, really all the problems that come with centralization.
4. ChainLink - this service DECENTRALIZES that translation process of the Oracle. Now, the translation is trustless, and you have a trustless data feed that informs the trustless smart contract.

Multibillion dollar institutions can rely on distributed blockchain technology and know the data that informs their smart contracts is tamperproof.

Will I forever be a wagecuck now?

>>3881738
wait till the bubble pops you fucking fool.

Amazon, Ebay, Google, all came out of the dotcom bubble.

Is your money in memes or in smart investments? Figure your shit out faggot

>>3867773
>>3867766
>>3867762
>>3867744
>>3867732
>>3867723
>>3867715
>>3867709
>>3867696
>>3867686
>>3867677

Ethereum is a blockchain with advanced scripting language whichallows running of decentralized applications (dapps) and Smart contracts. What are smart contracts? It is a digital contract planted in the Ethereum blockchain. It is a tamper-proof commitment of all participants of the contract. It is used to exchange money, property, shares etc, without a middleman. Ethereum's creator's description of smart contract is to compare the technology to a vending machine. Ordinarily, you would go to a lawyer or a notary, pay them, and wait while you get the document. With smart contracts, you simply drop a bitcoin into the vending machine (i.e. ledger), and your escrow, driver’s license, or whatever drops into your account. More so, smart contracts not only define the rules and penalties around an agreement in the same way that a traditional contract does, but also automatically enforce those obligations.

Now, how do we get tamper proof, secure data feeds into Ethereums blockchain in order to expand the variety of use cases. How do we get information, external data, about markets, shares, web API feeds, bank payments, back-end systems, retail payments, real life event data or data about other blockchains into the Ethereum blockchain.

The main use of smart contracts in Ethereum today is management of ERC20 tokens, which are a common functionality in most smart contract networks.The current focus on tokens to the exclusion of many other possible applications is due to a lack of adequate oracle services.

>>3838959
>>3838939
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Just incase you're really new, or think that Crypto is a tulip bubble:
https://www.youtube.com/watch?v=YIVAluSL9SU - The real value of bitcoin and crypto currency technology - The Blockchain explained
https://www.youtube.com/watch?v=G3psxs3gyf8 - 19 Industries The Blockchain Will Disrupt
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CHAINLINK VIDEOS:
https://www.youtube.com/watch?v=MfH1B85YyFU - Sergey Q&A
https://www.youtube.com/watch?v=1nmLU284fIk -Interview when he was NXT Secure Asset Exchange CEO, talking about Smart Contracts (2014)
https://www.youtube.com/watch?time_continue=16&v=nMlpTgxKtAY - A technical overview of ChainLink, the decentralized oracle platform.
https://www.youtube.com/watch?v=ytv8U0bejPA - Ethereum Enthusiasts NYC: SmartContracts.com and Oracles
https://www.youtube.com/watch?v=AfJiRsYpgyc -Smart Contracts in Business: Sergey Nazarov
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LINKS: (That won't steal your links)
https://github.com/smartcontractkit/chainlink -the github
https://chainlink-docs.smartcontract.com/#installation -The ChainLink API documentation.
https://link.smartcontract.com/whitepaper -Whitepaper (Duh)
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Additional Information:
Ari Juels is a faculty member at the Jacobs Institute at Cornell Tech. He co-authored
this work in his separate capacity as an advisor to SmartContract ChainLink Ltd., in
which he has a financial interest. In 2004, MIT’s Technology Review Magazine named Dr. Juels one of the world’s top 100 technology innovators under the age of 35. Computerworld honored him in its “40 Under 40” list of young industry leaders in 2007. He has received other distinctions, but sadly no recent ones acknowledging his youth. - (http://www.arijuels.com/))

>shitcoins bow to chainlink
>devs in contact with multinational bankers
>Sergey rumoured to possess psychic abilities
>control the blockchain with an iron fist
>own banks all over the world
>direct descendant of the satoshi royal blood line
>will bankroll the first cities on Mars (Linkdangrad will be be the first city)
>own basically every DNA editing research facility on Earth
>first designer babies will be Chainlink Babies
>both developers said to have 200+ IQ
>ancient Indian scriptures tell of two angels who will descend upon the Earth and will bring an era of enlightenment and unprecedented technological progress with them
>They own Nanobot R&D labs around the world
>You likely have Linkdabots inside you right now
>Seregy is in regular communication with the Archangels Michael and Gabriel, forwarding the word of God to the Orthodox Church
>They learned fluent French in under a week
>Nation states entrust their gold reserves with the Sergey. There's no gold in Ft. Knox, only Chainlink
>The devs are 67 years old, from the space-time reference point of the base human.
>In reality, they are timeless beings existing in all points of time and space from the Chain bang to the end of the universe
>Sergey will guide humanity into a new age of wisdom, peace and love

"We recently made the switch from Oraclize to Chainlink because of the decentralised aspect of Chainlink. The way we use Chainlink is pretty simple; our smart contracts track packages by using multi-carrier shipping API’s like Easypost and Postmen to view the delivery status of a package. We connect to, and pull data from, these API’s using Chainlink.
Before we made the switch from Oraclize to Chainlink we relied on one single API to serve us the correct data, which simply wasn’t secure enough when dealing with people’s money. Chainlink allowed us to stay decentralised and improve the security of our platform by allowing us to pull data from several API’s.
We are bullish on LINK and hope to accelerate the adoption by using it in our own project. There are so many use cases for LINK, our project is just one of them."