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/biz/ - Business & Finance

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13163531 No.13163531 [Reply] [Original]

A brainlet question I haven't seen people talking about before. We've talked about APIs and Iot, etc but why is Chainlink the first oracle service to bridge the crypto fiat divide? Why couldn't Oraclize or Rhombus or whatever do it, unless they can and I'm not aware of it? Is it only relying on SWIFT, which has supposedly exclusively selected SmartContract to design their oracle? What about VISA and Paypal, how will that work? There are no words about the team working with them, yet they appear on the slides and the website... and as far as I know, there are no available VISA or Paypal oracles yet used by other services. When will they be ready?

Is all of this on pivotal or are they doing is privately?

Bertani talked about how Oraclize clients were mostly betting apps, with finance and insurance as like only 5% use of their service. Is it because they're all waiting for the fiat oracles?

Once the SWIFT oracle is online, even if designed by SmartContract, won't every other competitor like Witnet and Rhombus and whatever pops up also be able to provide access to it?

Another question, Sergey talked about how they'll provide "a collection" of Chainlinks, currently have only ten or so ready, but they have plans for hundreds and thousands of them, so they'll be very easy to use, for app developers. "here's your GPS, your SMS, your fiat payment, now build Uber, etc". Same with all the various blockchain adapters. Who is coding them? Will the SmartContract team do it or will it be a community effort? I don't understand why they only have ten ready, are they just focusing on the network first and waiting for it to be ready, then will handle the various market data/logistics/payments chainlinks and dlt adapters? Why not hire one dev who only focuses on this while other develop the network? Could it why they hired Jonny? Imagine if the mainnet releases with adapters for all the main blockchains and hundreds of chainlinks ready instead of just a few.

>> No.13163624
File: 2.98 MB, 630x354, The Prophet.webm [View same] [iqdb] [saucenao] [google]
13163624

No one?

>> No.13163632

>>13163531
You're asking too many questions.
Also basically all of it has been discussed before.

>> No.13163633

> why is Chainlink the first oracle service to bridge the crypto fiat divide
Decentralized oracles are supremely reliable. This is what makes the difference.
Things will happen with certainty, not possibility

>> No.13163670

>>13163633
What's stopping witnet & following competition

>> No.13163685

>>13163531
>A brainlet question
Not even going to read the rest of this post my man.

>> No.13163732
File: 62 KB, 512x512, 1546766563270.png [View same] [iqdb] [saucenao] [google]
13163732

Why would I want to process this rant and untangle it into an organized thought? I can just post a meme instead for no effort

>> No.13163799
File: 790 KB, 2448x1836, 1553828903720.jpg [View same] [iqdb] [saucenao] [google]
13163799

>>13163732
This

>> No.13163810

>>13163670
witnet sucks and is trying to make some dough out of cl hype you imbecile mongoloid. stop asking these braindead questions

>> No.13163832

>>13163732
This. Just read the first two sentences and replied to that myself above.

>> No.13165017

Bump

>> No.13165030

>>13163531
>Why couldn't Oraclize

Oraclize already bent the knee.

>> No.13165128

>>13163670
> Witnet could still exist alongside Chainlink. The problem is that they're relatively unknown and are not as well connected on a business level with legacy industries unlike Chainlink. So even if they somehow provide a cheaper solution, they'd be BTFO'd by CL's partnerships/network effect. They're a legit project no doubt, though.
I am only superficially with witnet's tech, but it also looks like their reputation system could be gamed, as early nodes can just keep accruing more rep points, resulting in centralization.
It's also going to be a smaller POW blockchain, and we know how easily those can be 51% attacked.
One feature they've decided to not have in common are TEEs, which will enable Chainlink to have such a significant lead, especially since it'll be used for banking and other high value transactions.
Don't forget that the CL community is also a huge plus point, especially since it's already getting an infrastructure built around it:
https://medium.com/altcoin-magazine/earning-your-way-in-the-trustless-future-chainlink-ecosystem-101-2922d56c9bfa

>> No.13165133

>>13165128
fucked up with the quote^

>> No.13165155

when is this picture from? sergey wearing a different shirt

>> No.13166129

Looks like a thumbs up in progress.