Chainlink, a token so you can tell the weather to a computer. Yep, that's what this token actually does. It allows you to send the weather or the temperature to blockchain. Are you going to spend $7.42 USD to tell the weather to a computer?
"Oracles provide external data (e.g. temperature, weather) that trigger smart contract executions upon the fulfillment of predefined conditions." --from coinmarket cap
It's takes a while to peel through the gibberish to actually understand what this token does, but this is what you're buying. A token to tell the weather. But what you're really buying is the illusion/dream that you will "make it". I hope for your sake that you do.
Incase this is actual nolinkie trying to FUD unironically
Chainlink token has 18 decimals
Nathan Evans
plus blockchain the most inefficient database system ever invented
Kevin Martinez
You're oversimplifying things. It's a decentralized oracle that uses trustless execution of smartcontract agreements between a user to look up external data from an api on a computer such as the price of tea in China or the spot price of gold and then it quickly relays this information in a sybil resistant manner using mixicles and off chain processing which is vrf guaranteed and encrypted to prevent outside or inside parties from knowing or trusting what data is being sent or received or who requested or sent it or how said data is being used in the event it is modified somehow for the purposes it was requested to be modified and then puts this information back into the smartcontract. It's not easy to look up the price of something on a computer because your computer could be wrong. How can you trust that the price on your screen is the actual price? You query the website but your computer could show the wrong price. Chainlink will show the right price because it has a four generals problem simulation scenario built in to determine with high accuracy and quantum aggregation of data feeds to deterministically display to end users. I think it's going to go over $1k because I own one of the top 1,000 wallets.
do farmers have insurance contracts for weather conditions or something? never heard of a contract that needs to know the weather
Ayden Perez
And how many of those decimals will I need to tell the weather to a computer? That's definitely the impression I'm starting to get. Intentionally confusing and saddled with tech jargon so everyday people have no idea what the heck they are actually investing in or supporting other than the emotion driven hype. Learn to use a period. Oversimplifying things may help you get your point across, but I think that may not be your intention in the first place. Pretty sure you are just typing a bunch of tech jargon to fill in the huge void that is left by this token not really holding any immediate, monetary purpose other than a pump and dump.
Logan Gonzalez
Yeah, it's called a rain jacket.
Parker Rivera
Lumiere brothers also thought this was the most that could be done from a "motion picture" camera.
O.k. I see now that you are posting ironically. Nice one.
Josiah Fisher
It basically is, it's just augmented now.
Matthew Jones
Link monetizes data. All of it. That’s the oversimplification you wanted to make but couldn’t actually grasp the concept of the network so you didn’t.
Dominic Rogers
18 decimal places
Austin Howard
damn before link data couldn't be monetized and no one could write a routine to get the temperature from an API now we are truly free, thank you based sergey
John Gonzalez
How about learn to fuck you go fuck yourself? Oversimplification obscures and obfuscates any potential points and ideas one may be trying to express by preventing any of the crucial though not immediately salient beneficial effects of the utilization of whatever is being discussed. .......... My intention should be obvious here to anyone who has the slightest familiarity with blockchain technology and interconnected networks......... I simply want to set the record straight.. A simple app can tell the price of the weather to a computer..... .. In case you haven't noticed that's what is occurring any time you go to weather.... com.. If that was all chainlink did it would be unbelievable that the blockchain agnostic oracle solution managed to reach such a valuation as it has............ . A cursory glance would suggest that it must do more than this, and anything beyond would confirm that multiple times over... Why did the team bother to acquire towncrier if they were just copy pasting from weather........com? Ask yourself this and other questions then seek the answers to these questions...... What you will find is what chainlink purports to do and you will be ecstatic to have an opportunity to purchase any amount of the circulating tokens for less than $100..........00, and will quickly realize it's a steal at even $1,000.....00 a token....... I love chainlink and don't like seeing it dismissed with such blatant lies disguised by oversimplified chicanery...
Robert Ross
in doing so, an insurance company could cut out a lot of middlemen. so, in theory, even if they're paying out more often by using weather data smart contracts instead of personal claims, they'd still be saving tons of money.
Jose Lopez
unless they decide to create their own private network with no redundant token, making your bags worthless
Jayden Gomez
Based. Take your meds schizo, in a good way. Because I care about you.
Jackson Powell
>A token to tell the weather. The application in agriculture could be immense. You dont want to sign contracts for crops if the weathers been shit and the yields will suck.
Hudson Gonzalez
>hey boss, should we use this service to save millions of dollars and fire all these useless chumps? NO. we must hire MORE people. EXPENSIVE people like software developers to work for months just to do this thing that is already established and available to us >uhhh, why? sh-shut up stinkie!!!
Good job with the periods this time. Unfortunately I can't tell if your grandiloquence is irony or you are just autistic. Not trying to be mean, that's just my take.
Noah Cox
Its much more than just importing the weather into the blockchain in a secure and reliable manner. Also, you dont pay a link per data packet.
Begone FUDer
Jaxon Jenkins
>It's much more
I don't think I've read one simple elaboration yet
Zachary Reed
>A cursory glance would suggest that it must do more than this
o.k., such as? You're the one who loves chainlink, shouldn't you be able to provide some sort of elaboration? So far I may be the only one who's actually laid down some basic applications in regards to what this token can actually do.
>Data
Like what? Numbers? What kind of numbers?
>percentages For what?
Nicholas Ward
Simple fact that a dapp can use the current oil, usd and gold prices is massive.
Also, think sports bets, and any kind of bets really.
Now, I di have buy order at $7.00. But thats because I know the bears are strong, but I believe it will eventually go back up.
John Taylor
I'm starting to think the developers don't even know what to use this for, hence why weather and temperature are the only things mentioned. Saying it's used for "transferring data" sounds sexy, but someone who has common sense wants to know what kind of data is so pertinent that it requires a monetized token and so far temperature and weather are the only two I can recall being given.
Logan Jones
O.k. here we go, some actual things other than temp and weather. So oil, usd, and gold prices. In other words more trivial, albeit important facts. So why would I pay a computer to tell another computer this when I can just as easily look it up on google and finalize a contract myself for free?
Jordan Ward
Because you need the data source on your dapp, a centralised source could be compromised (or not free, i. e. directly from a financial institution ).
Other things luke the result if a sports match has no dedicated provider. And if some sports website did make an API to provide the data, it would either cost of you could have the risk of it being fraudulent and or compromised.
Imagine you run a multimillion dollar betting business, and you source the results of sports matches so your whole system is fully automated. A single compromised data source could result in you awarding the money to the wrong parties.
Tyler Gomez
Fuck, got new phone, still getting used to the keyboard.
Bentley Cox
How would you enforce the contract? If you are providing the data that means the other party not only has to trust you, but also your source. Sounds like an old fashioned contract where both parties have to agree. Chainlink circumvents this problem by making everything happen automatically. Neither party has to agree, it #justwerks. I don't know how many times a week you deal with contracts but it quickly adds up to tens of millions of dollars a year just in costs from middle men such as yourself in the scenario you gave, the other parties representative, lawyers for each side, and costs to ensure that the contracts terms are being upheld. That's the whole problem with contracts before chainlink. Even when everyone agrees and it goes smoothly either party can breach the contract. With chainlink it is absolute and deterministic. You can't breach the contract no matter how hard you try, and to judge can stop it. Kind of scary in a way but that's why you read through it once before signing. Beats the hell out of reading each revision, then reading again while taking notes to show how it was breached in a court proceeding and hoping the court rules favorably to uphold the contract and awards damages equal to the damages. A contract relies too much on trust. Remove this element and many headaches, heartbreaks, and setbacks are avoided.
Landon Russell
Wow op way to minimize lmao.. not just weather but its open to input any real time data regarding anything you want to the block chain.. let me rephrase what you meant to say "you are paying an entity to provide an opportunity for any entity to provide data to the blockchain. Thats why chainlink won't fail they didnt just write the code for a specific thing to provide their own data they wrote code that allows and company to input any type of data ever and since data is king in stocks and swift is king in banks.. chainlink will overcome Amazon in value in every aspect ever
