chainlink

[brainlet No.14036875]

EXPLAIN CHAINLINK TO ME OR I'LL FUCKING KILL YOU! DON'T DUMB IT DOWN INTO SOME VAGUE SHIT! EXPLAIN CHAINLINK TO ME RIGHT NOW OR I'LL LITERALLY FUCKING KILL YOu! WHAT THE FUCK ARE DECENTRALIZED ORACLES? WHAT THE FUCK ARE THRESHOLD SIGNATURES? DON'T DUMB IT DOWN OR I'LL FUCKING KILL YOU

[Anonymous No.14036881]

>>14036875
Chainlink: pee pee
Decentralized oracles: poo poo

[Anonymous No.14036896]

>>14036881
Based and peepoopilled

[Anonymous No.14036921]

>>14036875
ORACLES REPRESENT COMPANIES WHO CAN PUT INFORMATION ONTO THE BLOCKCHAIN

THIS SUCKS DICK BECAUSE COMPANIES ARE CENTRALIZED AND THE POINT OF THE BLOCKCHAIN IS TO BE DECENTRALIZED

CHAINLINK FIXES THAT BY MAKING A FUCKTON OF NODES TO WORK IN THE ORACLE DATA PROVISION PROCESS

[Anonymous No.14036948]

>>14036875
Its not about accumulation at this point. Something is triggered in their brain that makes them want to FUD. Its a fetish. While they type out the most ridiculous, low-tier FUD with one hand, the other hand is slowly pulling at their small benis. They will spend hours doing this, continually bringing themselves to the edge numerous times. They are the textbook definition of basement dwelling NEETs, so they could do this for days on end, fueled only by Monster, and nobody will question where they are or what they are doing, because nobody loves them or cares about them.
They have gotten to the point that the FUD isn't even as good as it once was. They don't take the time to think hard about it anymore, because they just want to hurry up and post anything to make their little dicks hard.

[Anonymous No.14036963]

>>14036875
You put $1 in, you get $1000 out.

[Anonymous No.14036975]

>>14036875
it makes it so smart contracts can have access to real world data thats not on the blockchain

[Anonymous No.14037004]

>>14036875
Right now all you can do with smart contracts is trade diff tokens between each other. Unfortunately roght now there no way for SCs to read data thats outside of the blockchain. smart contracts have infinite potential if they could grab this outside info and execute whatever command they were coded to do. chainlink solves this huge problem with oracles. Oracles grab that outside info, check if its right thru multiple nodes(decentralized) and spit it into the smart contract to be triggered. this simple idea creates a whole new way of doing every digital agreement on earth.

[Anonymous No.14037073]

>>14037004
That sounds great and all, buy why does it need a token?

[Anonymous No.14037088]

>>14036881
fpbp

[Anonymous No.14037157]

>>14036875
It’s a meme. But this whole market is a meme so that’s why it’s performed so well

[Anonymous No.14037165]

>>14037073
thats for you to find out! Ill give you a hint, $1000 a link token is not a joke. take sometime to find out why, a lot of good threads in the archive

[Anonymous No.14037216]

>>14036875
Have sex

[Anonymous No.14037223]

Test

[Anonymous No.14037239]

>>14036875
Ok here's the run down.

ETH is the toilet. LINK is the plumping. Data is the shit.

Get it? Now go all in or kys.

[Anonymous No.14037246]

>>14036875
Smart contracts are useless without it.
/thread

[Anonymous No.14037257]

>>14036875
DO YOUR OWN RESEARCH.
READ A WHITEPAPER YOU FUCKING RETARD.

[Anonymous No.14037270]

>>14036875
noone cares about blockchain cause its only got blockchain information, now if you were to take real world conditions and put them in a trust-less immutable ledger, then you'd be cooking with fire.

[Anonymous No.14037371]

>>14036875

[Anonymous No.14037408]

its sergays goal to decentralize mcdonalds chains because they keep banning him. if each individual chain is decentralized, they will be trustless and cannot ban him or they will lose their collateral links.

[Anonymous No.14037413]

>>14036875
>>14037371
Get it now?

[Anonymous No.14037659]

>>14037073

[Anonymous No.14037778]

>>14037073
As the anon above me simply quoted from the whitepaper. The token is used to pay node operators(it also has the transfer and call function, but that simply streamlines the process). Without node operators, ChainLink is useless. Without LINK having value, there is no incentive to run a node. So that establishes why it will never be worthless, but why “$1k EoY” you might ask? Well, the LINK token is also used as collateral. If a node operator provides bad data, his staked LINK is revoked from his node. So logically, the staked amount of 51% of all node operators for a given contract must be worth the amount being transferred through said contract. That way, if the network returns an incorrect value for any given contract(51% bad actors) their staked LINK can simply be returned to the party whos contract was attacked for a net loss of $0 by the contract initiator. This is how LINK maintains a 100% guarantee that is required for transferring large sums of money without use of a trusted third party. By displacing the trusted 3rd party(see banks) it eliminates their salary, and benefits as overhead. ChainLink is looking at the derivatives, and insurance markets. It WILL displace every single worker in these markets. Its only a matter of time. Now take the total revenue stream of all derivatives, and insurance payouts. Divide that number by the number of LINK tokens(include the ones in circulation or not, it really doesnt matter), and you will see that $1000 per LINK is actually FUD.

[Anonymous No.14037795]

One day chain link crypto currency coin will be 10 000 United States american dollars

[Anonymous No.14037796]

>>14037239
I will never get US toilets. How do you inspect your poop to know if you are sick, and what exactly it is.

[Anonymous No.14037838]

>>14037778
Based. Is pic related your plan to get more linkies in the upcoming smart contract bubble?

[Anonymous No.14037857]

>>14036875
Basically Israel has no right to exist and Chainlink will make sure of that

[Anonymous No.14037872]

>>14036875
>wearing pants

[Anonymous No.14038186]

>>14037838
I dont swing LINK. I understand why others do, but I make a pretty significant amount of money from wage slaving, so I just DCA all of my money that I dont have anything to spend on.

[Anonymous No.14038427]

>>14037796
That bratwurst is undercooked

[Anonymous No.14038447]

>>14036875
Basically it's like bitcoin on the blockchain

[Anonymous No.14038489]

>>14037408
Underrated post

[Anonymous No.14038526]

>>14037778
I get that Chainlink needs the tokens for operators to stake. What I don't understand is why they would require it for payment. Why not pay in ETH or a stablecoin. Ya know, something with way better liquidity/less volatility?

[Anonymous No.14038538]

>>14038526
>Chainlink is an ERC677 token which inherits functionality from the ERC20 token standard, while implementing additional functionality, transferAndCall, that we use with our contracts.

[Anonymous No.14038555]

>>14038526
Fiat oracles solve this

[Anonymous No.14038562]

>>14038538
Still not really getting it anon. What are these new functions used for that makes it better to incorporate and why can't a stablecoin just impliment them?

[Anonymous No.14038602]

>>14038562
ok dude you are just trolling now peace man, do you realize ONE of the usecases is that link can instantly turn any shitcoin to another shitcoin? HOW FUCKING DUMB ARE YOU? YOU ARE BEING SPOONFED LIKE A FUCKING BABY

[Anonymous No.14038652]

>>14037239
I don’t think that’s right man. ETH is the plumbing. Data is the shit. The only way to get the shit into the plumbing is through the toilet. Thus, Link is the toilet.

[Anonymous No.14038655]

>>14038602

[Anonymous No.14038678]

>>14038526
>he doesn't get it
It will be trivially simple and cheap for node operators to swap to whatever payment method they prefer, or otherwise program a smartcontract to pay them directly in their preferred currency. You have no idea how big this project is gonna be.

[Anonymous No.14038685]

>>14038678
posted the wrong picture

[Anonymous No.14038692]

>>14038678
So what you're saying is it's not required for payment, which is what I thought

[Anonymous No.14038746]

>>14038526
The ERC677 token makes it cheaper than any other option at the moment. It requires the least number of operations.

[Anonymous No.14038747]

>>14038692
Sorry anon, rocket's on the launchpad. We're all strapped in.

[Anonymous No.14038770]

>>14038692
Its not required for the consumer to pay in LINK, but the node operators will receive payment in LINK

[Anonymous No.14038775]

>>14038746
Thank you for the answer.
>>14038747
FUCK I'M GETTING FOMO NOW DO I SELL SOME OF MY HOT FOR THIS OR WHAT? Is it too late?

[Anonymous No.14038784]

>>14038692
>node operators paid in LINK token
>node operators continue to reinvest LINK tokens into their nodes, further reducing the supply
>circulating quantity of LINK tokens decreases
>value of LINK being used for collateral increases
>LINK network able to provide collateral for more expensive contracts (derivatives, etc.)
The tokenomics is the boring part though

[Anonymous No.14038833]

>>14038685
Nah that was the right pic anon. Brightened up my day.