/biz/ - Business & Finance

A cup of coffee now costs $17

>>22032859
https://www.youtube.com/watch?v=ufVyX7JDCgg

>>22032859
Just buy it and get out

Imagine you want to automate a contract
You need a way to check if the conditions are met
Its not exactly easy to translate real world events into data, there are company's selling those data tho
Now what chainlink does is buy that data, send it through the blockchain and then sell the exact same data at a markup

>>22032859

>>22032859
It solves the Oracle Problem. Oracles, as you know, are mythical figures that can foresee the future. Solving the “oracle problem” in computer science has to do with one of the fundamental issues, the difficulty/cost of accurately predicting the future for more than minutes, or even seconds, at a time.
Chainlink hinges on the idea that if 1) all computers in the world are connected together via their protocol, they will be able to predict hours, or even days, ahead. Coupled with 2) a genius invention by prof Ari Juels, where the prediction engine is recursively turned on itself to predict what it will predict next, efficiency can take this into the years worth of predictions, at relatively low cost.
The only problem with all this is that the token (LINK) is not really needed, so there’s no point in investing in any of it.

>>22032859
Duck idk. Sneak eBay ya below any Hayes and you’ll sage deist queues

>>22032859

>>22032859
Chainlink let's >>22033141
>Solving the “oracle problem” in computer science has to do with one of the fundamental issues, the difficulty/cost of accurately predicting the future for
Ok that's definitely not what the Oracle problem is

>>22033141
as long as he's being retarded on purpose i see no problems here

>>22033271
>The actual final problem
Oh no this works but ethereum is fucking expensive

>Solution
Ripplenet + flarenetwork

>>22033038
>>22033141
>>22033271

Oh I get it now thanks anons.

But this is getting too ineffcient. Cant we just plug a centralized network into a decentrlized one? At the end of the day you still have to trust to some centralized "trusted source"

I’m trying to explain Link tokens to my wife
I understand the chainlink concept but i can’t explain to her what we’re actually buying. So I’m buying or selling a LINK what am i actually buying or selling? How does that help the network?

>>22033502
Yes, but the point is with enough centralized sources, it eventually turns decentralized.

>>22033595
smart contract need data
oracle make data go safe
link token make oracle go

>>22032859
It solves the yacht problem.

>spoonfeeding newfags without questioning
when did /biz/ get so cucked?

>>22032922
this is all you need to know OP

>>22032859
It a LINK oracle tells you (for example) how many people where at the trump inauguration.
It's trustworthy because it's decentralized.
Basically a all nodes vote for a number, and the result is the average. Due to swarm intelligence, you get the correct result.

>>22032859
chainlink solves the having less money problem, you buy chainlink and then it goes up and then you have more money.

>>22033847
correct

>>22032859
The whole board has be literally wondering this

>>22033361
Flare isn't trustless. It offers no financial incentives for accurate data.

>>22033811
Lmao that's fucking Augur

>>22033502
Yes and that will happen eventually. But first chainlink needs its time in the sun. Will last for a couple of years. Enjoy the ride and then pick the winner blockchain protocol.

>>22033141

There’s no other way to “invest” in the project even if the tokens are useless. So at that point it’s like buying shares to fund the company. So it’s still very worthwhile. I.e you buying shares of Tesla....you can’t do shit with them...you can’t even wipe your ass with shares...it’s worthless Funny money...until you cash out. Same would apply with buying link.

>>22034199
When the internet was being created companies didn't trust their data on the eorld wild web do they used intranets and extranets before eventually adopting the fully decentralized internet. The same thing is happening with blovkchain tech now. Fully decentralized systems work best but it takes time for development to translate to adoption.

>>22034199
When the internet was being created companies didn't trust their data on the world wide web so they used intranets and extranets before eventually adopting the fully decentralized internet. The same thing is happening with blockchain tech now. Fully decentralized systems work best but it takes time for development to translate to adoption.

>>22032859
It's a blockchain-based decentralized ponzi scheme. It solves the problem that previous pozi-schemes were prone to early exit scams, because the were too centralized and founders could suddenly cash out and run.
The LINK ponzi otoh is supported by thousands of LINK-marines all over the world and won't let that happen before everyone has made it.

>>22032859
Imagine BTC you can't use to pay for shit, because the price jumps around and is different on 100s pair and exchanges. Imagine Ethereum, that has smart contracts, that are limited to token scams an cryptokitties, because the contracts can't get data outside the blockchain.

Now imagine if there was a stream of data from the internet to blockchain and back. You can pay with bitcoin, because the price from multiple locations is aggregated, stabilized and converted to your fiat. You can actually use smart contracts, because you can get outside parameters, like you can make a smart contract for sports betting or a supply chain. Or even a car insurance. Just make an adapter for the car sensors and if you crash the insurance smart contract automatically pays you money.

Google "Oracle problem"

Nobody here even understands chainlink lol

>>22034582
ye, because it's very sophisticated. No wonder it keeps going up!

It puts radio on the blockchain

>>22032859
Antiquated tech that doesn't know it's dead yet. Flare is going to replace it and take whatever market share it was hoping for.

>>22034582
Because oldfags are silent observers fpr the most part and most posters are newfags in a bull market poke their dicks in a million random directions hoping to strike the next link.

>>22032922
>>22033677
>>22033811
>>22034199
He's here

>>22032859
$1000 US DOLLARS PER TOKEN EOY

>>22032859
It's facilitates AI for the blockchain. Thus, it not only solves the Oracle Problem, it also provides better oracles, using ML techniques. This enables superior smart contracts that allow for the autonomous replication of the participants savings.

>>22033271
post the one with kleros under it fag

>>22034805
>40 posts
>4 of them are a 1/10 chance
wow

>>22035076
Yes the vast majority of posters on biz are retards who simply parrot what they hear.