/biz/ - Business & Finance

[Anonymous No.26434340]

How is Chainlink guaranteed to be tamper-proof? What happens if someone manages to coordinate an attack and provide false information to a smart contract via Chainlink with a majority of nodes?

[Anonymous No.26434411]

>>26434340
once all exchanges use LINK for price data, the first attack will be on the price of LINK. we will tell all the nodes it is 1k and it shall be 1k.

[Anonymous No.26434417]

I fart on you

[Anonymous No.26434455]

>>26434340
dear god go back

[Anonymous No.26434574]

There are safeguards. The nature of chainlink is to use a decentralized network of oracles to arrive at a value. These nodes are independent and should be diversified to the point where collusion is not possible. In addition, contracts can be set within parameters so that any aggregated value that deviates too far from a set value will inactivate the entire contract request. Bad actors are punished.

[Anonymous No.26434594]

>>26434340
In all seriousness there is configurability iirc for whoever is trying to get consensus, I.e. how much is stakes and how many nodes and some consensus factor I’d assume. I think this type of thing may be possible but at enough scale it is highly unlikely (keep in mind the attacker would have to risk some crazy amount of link in collateral to try pulling this off)

[Anonymous No.26434610]

>>26434340
Oh god hahah just leave please.

[Anonymous No.26434641]

>>26434574
Good reply thanks

[Anonymous No.26434761]

>>26434574
>>26434594

Thank you for the help. I'm having a discussion with someone whether Chainlink could be trusted in providing data that's more valuable than the whole network, like results for a presidential election. This explains a lot.

[Anonymous No.26434931]

>>26434340
it's not.
Reputation will be arbitrary.

Link is antithetical to the bitcoin whitepaper it is data intermediary system. It is a trusted intermediary

[Anonymous No.26435096]

>>26434761
Consumer request contracts can be highly customized. That is, the user can decide how many nodes are required, how much they have staked, the historical reputation, their response time, etc. So, for those data feeds that require zero tolerance on corruption, the parameters can box out the potential for things to go awry

[Anonymous No.26435188]

Not very acknowledged but from what I understand, It basically has an arbitrary consensus mechanism and it is based by reputation that prevents this.

[Anonymous No.26435306]

>>26434411
checked fpbp and incredibly based