/biz/ - Business & Finance

[Anonymous No.12127496]

Will most businesses just avoid public blockchains and use private ones, rendering LINK and a lower value than expected?

Private chains:
>Free to use as no token / transaction fees to pay
>Faster
>Private company data not visible to public & competitors
>Avoid the volatility of public tokens and flutuating gas costs

[Anonymous No.12127507]

>>12127496
Aaaaaaahhhhhhhhhh !!!!!
Broooooos !!!!!

[Anonymous No.12127515]

How will they bring in external data?

[Anonymous No.12127522]

lol sure, like everyone just avoided the public internet and stayed with AOL instead

[Anonymous No.12127529]

This was last week's fud OP. We are past that now.

[Anonymous No.12127532]

>>12127522
how is that even remotely analogous?

[Anonymous No.12127539]

>>12127496
Let's just check the scorecard.
Public chains: most explosive asset class in history, global public obsession, literal billionaires, countless successful businesses in the ecosystem.
Private chains: *sad trombone noises*

[Anonymous No.12127569]

>>12127539
https://www.ey.com/en_gl/news/2018/10/ey-launches-the-world-s-first-secure-private-transactions-over-the-ethereu-public-blockchain

https://cointelegraph.com/news/big-four-auditor-ey-launches-zero-knowledge-system-for-private-transactions-on-ethereum

https://medium.com/aztec-protocol/confidential-transactions-have-arrived-a-dive-into-the-aztec-protocol-a1794c00c009

[Anonymous No.12127572]

>>12127515
They can still use chainlink, just without LINK. Chainlink allows this to enhance their brand.

>>12127522
Intranet / Internet comparison does not work here. Private blockchains provide more benefits than public blockchains to private businsesses (cheaper, faster, more private). Intranet limited businesses compared to internet. Literally the opposite.

>>12127529
Some hippy said public blockchains are better because he finds private ones boring? Not good enough my friend.

[Anonymous No.12127590]

This is not fud but the truth. Tell me one big company that will use a public blockchain and memetokens and show their sensitive date?


Sergey brought link into life for funding. Nothing more nothing less.


Also companies wont approch smartcontracts until ISO finishes their reports by 2021. So link will only be used now for price feeds

[Anonymous No.12127591]

>>12127572
fuck off to your discord you retard, not my problem that you want to increase your $100 stack. It's not like anybody comes here anymore.

[Anonymous No.12127647]

>>12127590
>what is sgx
>what is zkp
It will take a long time. ETH has to figure its shit out until big businesses use it. So link main net gets to be tested by the smaller startups who’ll prove its value before big fish jump in. It’ll take a few years, you fags are not getting my linkies, fudders KYS and anyone genuinely worried should step back and ask why do we care about decentralization?

[Anonymous No.12127663]

>>12127590
There is a point that public blockchains can still be used if companies want their data private - by using ZKPs and TEEs.

But all the other benefits still stand compared to public chains.

LINK will still be used by smart contracts on public chains, but i'm wondering how big public chains will really be if most companies will just use private blockchains instead.

[Anonymous No.12127693]

>>12127572
>They can still use chainlink, just without LINK. Chainlink allows this to enhance their brand.
Faggot listen to me
Internal data = private blockchain
External data = public blockchain

[Anonymous No.12127734]

>>12127663
You’re ignoring the cost of trust. And no company can interact with another company that’s not in its consortium/private network. Link aims to be a standard protocol and will save money for anyone that uses it.

[Anonymous No.12127758]

>>12127569
Exactly man.
>The press release underscores that the $20 billion+ market cap Ethereum network offers enterprises a level of liquidity that “dwarfs” that of any existing permissioned blockchain, as well as removing the need for building an in-house private blockchain from scratch.

[Anonymous No.12127761]

>>12127693
Explain yourself. Are you referring to interoperability between private and public chains? If so what makes you think LINK would be used on the private side?

The team has straight up told us how chainlink works on private chains. (no LINK).

[Anonymous No.12127840]

>>12127496
No

[Anonymous No.12127845]

>>12127761
Smartcontract started by making dank oracles. Big Corp will use dank oracle for their own shit, knowing they’ll need to get external data one day in a reliable, trustless CHEAP manner, starting by using chainlink sets them on the path of interoperability and if they were to bring value to main chain they’ll provably get a token kickback from serg.
Docusign for one is advertising by next year they’ll be using Ethereum.

[Anonymous No.12127854]

>>12127572
you say intranet limited businesses compared to internet. i say it's the same with private blockchains. the only benefit you really gain from it is trustlessness, which is entirely gone in a private blockchain environment. the competetive advantage for the smartcontract usecase is you can fire a shitton of lawyers, because there is no need to trust your businesspartner anymore. you take private blockchains, you have to trust your businesspartner again and hire a shitton of lawyers

[Anonymous No.12127856]

>>12127758
Is ETH and LINK the god tier portfolio?

[Anonymous No.12127879]

>>12127856
it truly is, but eth is much more interchangeable than link

[Anonymous No.12127889]

>>12127734
Which costs? Do they outweigh the money saved on not spending transaction fees and increased profits from faster processes?

That's true about companies needing to join the network to work together on it. But they'll need to join a public blockchain to work together here anyway all the same.

>>12127758
They won't need to create private chains from scratch if they join an existing one.

[Anonymous No.12127893]

>>12127879
>eth is much more interchangeable than link
What do you mean?

[Anonymous No.12127914]

>>12127893
well you can more easily replace the underlying smart contract/blockchain technology with something else than ETH, for example cardano, much more difficult with link though.

[Anonymous No.12127936]

>>12127914
I see, what is your opinion on btc? Worth investing? Or just stick with eth and link?

[Anonymous No.12127947]

>>12127936
personally i'm all in link, i'm not an expert on BTC though, everything from BCore to BSV seems kinda scammy and stuck in development hell to me

[Anonymous No.12127959]

>>12127936
BTC is a dead, PoC, coin with no purpose. The only thing keeping the price up is salty bagholders who refuse to move on. IMO it's not worth it.

[Anonymous No.12127977]

>>12127959
It's true btc is outdated tech...but the halvening event in 2020 might trigger a new ath and bullrun. The name is too big to fail

[Anonymous No.12127979]

>>12127959
>BTC
Meant BTC core, idk about SV.

[Anonymous No.12127999]

>>12127977
sure, it might trigger some kind of new bullrun, but IMO the upcoming smart contract bubble will be of more epic proportions

[Anonymous No.12128030]

>>12127572
Public chains eliminate the need for trust.
Turns out, attempts using private chains are failing right now because competitors don't trust each other (obviously). Just take a look at this article:
>IBM and Maersk Struggle to Sign Partners to Shipping Blockchain
>It’s hard enough to get enterprises that compete with each other to work together as a team, but it’s especially tricky when one of those rivals owns the team.

https://www.coindesk.com/ibm-blockchain-maersk-shipping-struggling/

Private chains ARE boring.

[Anonymous No.12128037]

>>12127889
>They won't need to create private chains from scratch if they join an existing one.
They don't want to join in on private chains because they don't trust eachother lmao. See:>>12128030

[Anonymous No.12128049]

>>12127889
Yeah it outweighs the cost of lawyers who are expensive as fuck. It's like you haven't watched every single Sergey video.

[Anonymous No.12128063]

>>12127496
They already do, it's called a database.

[Anonymous No.12128090]

>>12128037
>>12128030
In this one case yeah.They said it's "not on equal footing" so I guess they're not doing it right.

It is a point to think about though.

One counterpoint to using private chains is the added complexity. There will be so many networks to join, and if a company needs to join for multiple different applications with multiple different sets of companies it adds to more management time / resources. Instead of one unified blockchain which makes this simpler.

[Anonymous No.12128112]

>>12127496
>Will most businesses just avoid public blockchains
Yes.

[Anonymous No.12128121]

>>12128063
this lol. OP in shambles

[Anonymous No.12128122]

>>12128112
no

[Anonymous No.12128206]

>>12127569
Delete this

[Anonymous No.12128244]

At the root of nearly every piece of Link FUD is one base sentiment:

"You loser NEETs and your NEET software will never amount to anything. The system will chug along just fine without you, go die in a hole."

People are threatened by Link because they're threatened by the prospect of NEETs gaining wealth and status over them.

[Anonymous No.12128248]

>>12128206
Delete this

[Anonymous No.12128251]

>>12127569
Brainlet here...is this good for ethereum

[Anonymous No.12128298]

Why would companies use a blockchain (the most inefficient database ever) when they could use a fucking Oracle database or PostgreSQL? Even if they want to have their own tokens, why not just use a fast and cheap real database? The only advantage of blockchains is to be censorship resistant and decentralized, neither of which are applicable to any legal business in the world.

Companies aren’t going to subsidize your NEETdom, ever. Get that idea out of your head and maybe you will stop getting scammed over and over again.

[Anonymous No.12128302]

>>12128298
Case in point.

>>12128244

[Anonymous No.12128322]

>>12128302
His first point is valid though

[Anonymous No.12128356]

>>12128302
You haven’t refuted it. You have 0 understanding of economics if you think companies are going to deliberately lose money by choosing an inferior product. You drank the hopium and will lose your money (again) to another Russian scam.

[Anonymous No.12128378]

>>12128356
you forgot they are tamperproof and trustless
your stupid FUD was refuted

[Anonymous No.12128380]

>>12128298
Automation.

[Anonymous No.12128386]

>>12128380
oracle just autonomized their 18.c database.. so btfo.

[Anonymous No.12128404]

>>12128322
His first point is valid if you assume that blockchains will be used the same way as traditional in-house databases (they wont be).

[Anonymous No.12128419]

Private blockchain is a joke of a concept. Nobody will ever use a private blockchain because the only benefit of using any blockchain in the first place over other traditional data structures is that they are trustless. If you have a private blockchain you already introduce trust into the system. At that point you should just use a distributed database

[Anonymous No.12128421]

>>12128380
Chainstink is not automated. Someone has to pay to initiate every action.

Meanwhile automating any real database is easy as fuck and built in. And no one has to pay anything to interact with it.

[Anonymous No.12128470]

>>12128378
It’s only as trustless as the external data sources are. If you have faith in some API to tell you something about the world, then it’s just as sensible to trust that API to update a database or fucking Excel spreadsheet. Someone could lie or hack either way. Literally useless. Chainlink preys on people who don’t understand technology and business, just like 99% of other ERC20 scam coins out there.

[Anonymous No.12128526]

>>12128421
I can tell you have most of your net worth in link and are desperate for someone to refute you, but they won't. Deep down, you know you got memed on. You know what you have to do. Click that sell button.

[Anonymous No.12128538]

>>12128470

[Anonymous No.12128612]

>>12128470
that's why they are coding their aggegation contract right now, where they can aggregate from multiple different API providers
jeeez