Can someone explain what this does in a short summary?

It’s a Russian scam. Sergey has ties to the KGB. Look up who his father is

pee pee poo poo

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Based on the 'Decentralized Oracle', what would be a use case scenario? A hypothetical event where link is used?

'Reserve backed stablecoin' - are you implying that link will be backed by a reserve currency?

How retarded are you? This shit is pretty simple. I have plenty of shit in my redpill folder but I'm not going to post it

I'm actually more qualified to talk about this than most anons.I'm employed with a cyber-techno machinations company, I do a lot of security analyst programming type work. Open source, decentralized, APIs, partnerships, you name it. We'd be one of the first companies in line for something like Chainlink, if the decentralized smart contract space had more value over traditional data exchanges. There's a catch though, an underlying flaw more deeply embedded in the bedrock of LINK than the very code itself. The flaw is with the concept, and it's this: Companies won't actually go through the hassle of trusting their data API's through crypto.

Now I can already hear your keyboards going frantic, but hear me out. Zig Forums hates banks, and traditional data providers. But actual companies, businesses, and investors do not. There's an old saying you might have heard of: "If it ain't broke, don't fix it!". The idea that any of our bosses would give us the go ahead if we approached them to put our companies valuable data in a smart contract on a cryptocurrency called Chainlink, that they've never heard of, we'd be laughed out at best and fired on the spot at worst. We already have API data buyers and providers we trust.

'But Chainlink is trustless!' I hear you cry, but is that really a good thing? Just listen to the sound of it. Businesses don't want to spend millions of dollars on something that is trustLESS, they want something trustFUL. 'But the reputation system!', doesn't that defeat the whole point of your coin? If companies only trust nodes with high reputation, what's the difference between trusting banks and data providers that already have reputation, but in real life not on a computer screen.

The fact is, LINK is going to share the same fate as ETH will. A lot of 'real world application' hype, with a lot of 'crypto world application' reality. Only, this billion supply coin isn't going to come close to the $1k that Etherum hit. Happy gambling though anons.

You could try to read the white paper ?

the chainlink network consists of distributed nodes tasked with retrieving, aggregating, and supplying information to digital contracts. because the inputs and outputs of the network are tamper-proof (due to the distribution and reliability of nodes), it allows contracting parties to execute their contracts without requiring trust between the contractor or contractee. The link token serves both as collateral for the underlying contract and as a form of payment for node operators

>Based on the 'Decentralized Oracle', what would be a use case scenario? A hypothetical event where link is used?
This^

Nice copypasta. This one is really believable with the
>I'm employed with a cyber-techno machinations company
nonsense prefacing it

Yeah, maybe I'm retarded. I just think it's unique that people are either unwilling or unable to define this coin, whereas with any other coin explanations are given out without even asking.

>I've seen a lot of link threads and not a lot of conversation about what it does, at least not in layman's terms.
???
It has been the subject of more discussion on biz than any other project for the past two and a half years. Like nothing else has even had 10% of the discussion, to be conservative. Did you just start paying attention 2 hours ago?

youtu.be/NxSMsuXGJI4

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That's the most astute insight you've had. Next stage is actually going off and DYOR.
I would start here:
>youtu.be/ZA5fHnyjreA?t=118

Thanks. So is it possible to give a real world scenario of how it would be used?

Makes you rich

>Just tell me what it does
Transfers your NEETbux to Sergey's bank account in the Caymens.

>Gaslight technique 101

I can't tell if you're being genuine or not. I'll roll the dice and say you are. Here's one more before I go to bed
There are massive threads on this exact subject, if you've been here for longer than a month you have no excuse for not having done your own research on this by now

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you had three years

It’s solves the Big Mac problem

>whereas with any other coin explanations are given out without even asking.
You could always check three years worth of fucking archives

You are so close my man...why would we be unwilling? and why are so many others so willing to shill what their token does? Seriously try to answer those questions. I've been accumulating since 2017. My tip is check out the 4th Industrial Revolution by Klaus Schwab and research who Ari Juels is. I've said too much already

hey uncle. you ready to get your butt cheeks spreaded out again?

What actually happened tonight why did we moon?

You should buy 1000 link and wait til link explodes again so anons come out and start spoonfeeding again. Maybe warosu for one of those "chainlink will change your life" threads

imgur.com/a/szBYE1f

I really am. I've only been on Zig Forums about three months actually, but I've seen probably a thousand of these threads. But I've never seen any concise explanations. No real world this is what it does spoonfeeding. A little spoonfeeding wouldn't hurt.

Can no one tell me a real world scenario?

the use most frequently cited for value, and where it is currently employed at a growing rate, is in the creation of decentralized financial products, such as lending/liquidity pools, which require frequent updates of aggregated underlying asset prices. This is just the tip of the iceberg, but it’s a real world example happening right now

Even if this is all legit, this reads like absolute conspiratorial garbage.

>link has been avoiding hype
>writes a summary hyping link

If that's not a paradox I don't know what is.

You want someone to explain in 1 paragraph what we had to piece together over the last 3 years. I gave you a book to read where Smartcontract.com by name is mentioned but you ignored the comment and probably saw it thinking reading a book will take too long. Honestly you will probably sell too early anyway. 2018 was such a blessed time, technical discussion of Chainlink everyday on here sometimes 3-4 threads going of different aspects. It was truly exciting and I'll look back on those memories fondly. Needless to say, I dropped 5K on LINK at around .40 probably an hour after I read the book. That was my second large purchase I made of it

lol well done man, you almost fell for the link scam. Oh well, hopefully some other sucker will buy my bags, fuck.

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