Brainlet and newfag here
Whats the point of chainlink? I understand BTC and ETH. But I dont see whats the problem that chainlink tries to solve. dont bully me pls
What is chainlink?
Nathan Lopez
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Juan Mitchell
A cup of coffee now costs $17
Juan Nguyen
Robert Wilson
Just buy it and get out
Dylan Morris
Imagine you want to automate a contract
You need a way to check if the conditions are met
Its not exactly easy to translate real world events into data, there are company's selling those data tho
Now what chainlink does is buy that data, send it through the blockchain and then sell the exact same data at a markup
Adam Johnson
Joshua Hall
It solves the Oracle Problem. Oracles, as you know, are mythical figures that can foresee the future. Solving the “oracle problem” in computer science has to do with one of the fundamental issues, the difficulty/cost of accurately predicting the future for more than minutes, or even seconds, at a time.
Chainlink hinges on the idea that if 1) all computers in the world are connected together via their protocol, they will be able to predict hours, or even days, ahead. Coupled with 2) a genius invention by prof Ari Juels, where the prediction engine is recursively turned on itself to predict what it will predict next, efficiency can take this into the years worth of predictions, at relatively low cost.
The only problem with all this is that the token (LINK) is not really needed, so there’s no point in investing in any of it.
Leo Peterson
Duck idk. Sneak eBay ya below any Hayes and you’ll sage deist queues
Charles Lee
Jonathan Evans
Chainlink let's >Solving the “oracle problem” in computer science has to do with one of the fundamental issues, the difficulty/cost of accurately predicting the future for
Ok that's definitely not what the Oracle problem is
Benjamin Rivera
as long as he's being retarded on purpose i see no problems here
Cameron Moore
>The actual final problem
Oh no this works but ethereum is fucking expensive
>Solution
Ripplenet + flarenetwork
Grayson Nguyen
Oh I get it now thanks anons.
But this is getting too ineffcient. Cant we just plug a centralized network into a decentrlized one? At the end of the day you still have to trust to some centralized "trusted source"
Jack White
I’m trying to explain Link tokens to my wife
I understand the chainlink concept but i can’t explain to her what we’re actually buying. So I’m buying or selling a LINK what am i actually buying or selling? How does that help the network?
Jason Sanchez
Yes, but the point is with enough centralized sources, it eventually turns decentralized.
Xavier Hall
smart contract need data
oracle make data go safe
link token make oracle go
Liam Torres
It solves the yacht problem.
Jose Perry
>spoonfeeding newfags without questioning
when did Zig Forums get so cucked?
Gavin Wilson
this is all you need to know OP
Julian Foster
It a LINK oracle tells you (for example) how many people where at the trump inauguration.
It's trustworthy because it's decentralized.
Basically a all nodes vote for a number, and the result is the average. Due to swarm intelligence, you get the correct result.
Carson Fisher
chainlink solves the having less money problem, you buy chainlink and then it goes up and then you have more money.
William Martinez
correct
Caleb Gonzalez
The whole board has be literally wondering this
Jose Ortiz
Flare isn't trustless. It offers no financial incentives for accurate data.
Josiah Bailey
Lmao that's fucking Augur
Ryder Cox
Yes and that will happen eventually. But first chainlink needs its time in the sun. Will last for a couple of years. Enjoy the ride and then pick the winner blockchain protocol.
Ryan Butler
There’s no other way to “invest” in the project even if the tokens are useless. So at that point it’s like buying shares to fund the company. So it’s still very worthwhile. I.e you buying shares of Tesla....you can’t do shit with them...you can’t even wipe your ass with shares...it’s worthless Funny money...until you cash out. Same would apply with buying link.
Evan Powell
When the internet was being created companies didn't trust their data on the world wide web so they used intranets and extranets before eventually adopting the fully decentralized internet. The same thing is happening with blockchain tech now. Fully decentralized systems work best but it takes time for development to translate to adoption.
Jace Williams
It's a blockchain-based decentralized ponzi scheme. It solves the problem that previous pozi-schemes were prone to early exit scams, because the were too centralized and founders could suddenly cash out and run.
The LINK ponzi otoh is supported by thousands of LINK-marines all over the world and won't let that happen before everyone has made it.
Brayden Foster
Imagine BTC you can't use to pay for shit, because the price jumps around and is different on 100s pair and exchanges. Imagine Ethereum, that has smart contracts, that are limited to token scams an cryptokitties, because the contracts can't get data outside the blockchain.
Now imagine if there was a stream of data from the internet to blockchain and back. You can pay with bitcoin, because the price from multiple locations is aggregated, stabilized and converted to your fiat. You can actually use smart contracts, because you can get outside parameters, like you can make a smart contract for sports betting or a supply chain. Or even a car insurance. Just make an adapter for the car sensors and if you crash the insurance smart contract automatically pays you money.
Jayden White
Google "Oracle problem"
Xavier Gray
Nobody here even understands chainlink lol