Chainlink has first mover and that's nice and all, but this protocol just makes more sense.
API3 will replace chainlink
Lucas Bell
Connor Myers
Liam Myers
that's racist
Ayden Evans
>actually decentralized
>quantifiable security
>first-party oracles
>tokenomics directly tied to profits
Joshua Walker
Who? You do realize all that matters is the amount of network participants right? Chainlink is a cult and will beat any newcomer
Jace Brown
Connor Nelson
Matthew White
>yeah staking is kinda gay since it puts node funds at risk if they mess up
>It's much better to have a third party cover the oracle insurance, I'm sure the nodes will behave on the insurers' behalf
What the fuck were the API3 retards thinking lol
Justin Cook
It makes more sense than chainlink, but I still don't get what it is solving that can't be solved in paying link to some API/data provider.
David Cooper
scratch link out with literally any token you want, including ETH, my bad.
the problem with staking is the exact same reason why they probably chose to not acknowledge it. If the data providers fail to deliver accurate data, you can't prove it deterministically anyhow. In fact, in the chainlink case, it would probably work out where nodes would punish people providing accurate data when everyone else is pulling the faulty data source.
Juan Morgan
2017 OG linkie here who sold entire bag at $18. Chainlink is ChiCom compromised now with Adelyn infesting shit with chink SJW shit, being associated with BSN, China Telecom etc. They will be blacklisted soon when Trump goes hard on Chinks after re-election. Also they are associated with WEF and the Great Reset bullshit. I hope the project dies at this point, they aren't what I originally anticipated and instead are yet another layer of Jewish control.
Jaxson Taylor
you probably don't even understand it lmfao.
Henry Cox
>after reelection
trump supporters and nolinkers seething
Isaiah Edwards
You can actually, if a false data claim is made, for example, you can escalate it to a wider range of nodes. Provided the majority of the network is honest this would resolve the dispute. That's just one example though, the team has not actually disclosed their method yet, since staking is to be released. But so far we already have the game theoretic deviation from the aggregated mean as warranting penalty.
API3 HAS disclosed their method. Insurance by a third party. And how are THEY going to prove they are honest? Same problem, except now the nodes themselves have absolutely no incentive to behave, kek.
Isaiah Williams
>look how different and more decentralized we are compared to chainlink
>we take it to the ((APIS)) directly
brilliant, right?
James Morgan
>if a false data claim is made, for example, you can escalate it to a wider range of nodes. Provided the majority of the network is honest this would resolve the dispute.
this doesn't work though and cannot deterministically prove that the data is indeed accurate though. It's just the computer equivalent of cultish groupthink.
Aiden Taylor
Dilate
Christian Perez
ok.
Address the other stuff? You probably won't.
Colton Diaz
Also, Biden is recorded as winner of the US election on chain now via Chainlink nodes. Topkek when Trump is re-elected and fat cuck Sergey has to pay out personally to those who relied on his shitty node for that data. He already had to pay out personally when they fucked up the Gold / Silver prices on SNX.
Charles King
>biden won
>when trump is re-elected
yall make no sense
Anthony Scott
Solid grasp of US constitutional law there trannychink
Joshua Torres
it's more just
>soon.jpg
cope. it's been, what, 3-4 years? I'm divested from it and this bitcoin rally confirms this coin is just borrowed time. I have more faith in OP's API3 (which I won't invest in) than chainlink because it architecturally makes sense and is based on provable federation-like designs. it probably won't "moon" but it doesn't have to since it's a utility coin for data providers and purchasers.
Tyler Morgan
what did he mean by this
Dominic Phillips
no one fucking knows. that's why you don't give them (You)'s.
real Zig Forumstards would be proclaiming that biden won and personally invented the vaccine and would be looking to figure out what that means for their future buys.
Gavin Wilson
>doesn't address the node incentive thing
Play it like you aren't a shiller all you want faggot.
The truth is API3 doesn't solve a single problem it claims Chainlink has, and adds a few extra problems on top just to seem different.
>how to resolve data
How does the insurance "deterministically prove" whether data is accurate?
>in the chainlink case, it would probably work out where nodes would punish people providing accurate data when everyone else is pulling the faulty data source.
Wrong, because that would evolve to a situation where no one stakes and thus the attackers would have a short-term gain and then nothing. Instead they have the option of long-term gain by joining honestly.
And in fact Chainlink has started the network in a centralized KYC fashion to ensure that when other nodes join they can only build up reputation by staking honestly because the existing, starting majority will be honest. So that short term option only becomes available after painstakingly building up reputation.
Ok, now let's look at API3's "solution. Here if a new node joins, there is absolutely ZERO incentive to be honest. That's right, ZERO. We don't even need to get into game theory or anything. No dispute. As for the insurers, you have to be positively mad to insure an oracle network set up like this.
Additionally API3 IGNORES the possibility of Sybil attack by just pretending it isn't there for them. see picI mean, at this point I respect BAND more. They just copied LINK, but at least it could have actually WORKED.
Joseph Bennett
So instead of never selling, you just gave away your wealth to the very people you're against
Evan Butler
First-part oracles are already far less likely to misbehave because they have their off-chain real-world reputation at risk.
Stakers are aware that their stakes could get slashed in case of an insurance payout. Pic related. Stakers are also governance token holders which means they have a skin-in-the-game incentive to vote for data feed configurations that are less likely to provide faulty data.
Jayden Foster
If the APIs are exchanges themselves, for example, then there are no red question marks in your diagram.
Henry Barnes
sergay being in this industry for 8+ yrs with possible satoshi affiliation probably went to the drawing board 9000 times to think the game theory trough
Camden Powell
>Additionally API3 IGNORES the possibility of Sybil attack
Sybil attacks won't happen since the nodes are first-party i.e. run by data providers themselves who make it known off-chain. Sybil attack in this context will only occur if these companies collude to fuck up a contract, which is far less likely than a bunch of third-party no-name middlemen oracles.
Ethan Sullivan
FUCK OFF CLCG TRANNIES
Jonathan Adams
this is satire, right?
Chase Brown
>If the LINK Nodes are exchanges themselves, for example, then there are no red question marks in your diagram.
>KYC oracles are already far less likely to misbehave because they have their off-chain real-world reputation at risk.
>Stakers are aware that their stakes could get slashed in case of an stake payout.
Like I said, exact same problems as LINK with a few extra added on to seem different.
Jonathan Baker
>Sybil attacks won't happen since the nodes are KYC i.e. run by node providers themselves who make it known off-chain. Sybil attack in this context will only occur if these companies collude to fuck up a contract, which is far less likely than a bunch of third-party no-name APIS.
Lincoln Foster
Some entry level fud:
Why only 20% of total supply in public crowdsale?
Crappy mesa platform for token distribution
Team members not on website, because they are ashamed of their past (met on Zig Forums, have a history of screwing over their employers)
CLCG ouldn't run a Chainlink node for shit, couldn't make a decent market website, got massively cucked by Linkpool.
CLCG has a history of screwing people over with token sales, faking interest.
Timo. That's it.
Then some technical fud:
What's the difference between API3 and Chainlink first party nodes? Many data providers are already running nodes for Chainlink, so I don't see the point in API3.
They say their vaporware Airnode is super easy to deploy. Yet, this depends on third party ethereum services like Infura which gives them a centralized point of failure. They responded to this fud in the telegram saying that the data providers will run their own ethereum node, but if they do that why not simply run a Chainlink node as well?
Also API3 doesn't have a max supply, and inflation will mean you either risk your tokens in the DAO (some random data provider messes up and you lose your tokens) OR your tokens lose their value via the inflation.
Why do they need funding if the airnode is already developed?
James Nguyen
>If the LINK Nodes are exchanges themselves, for example, then there are no red question marks in your diagram
Then why don't the existing price data feeds use data directly from exchanges? Instead you have multiple nodes serving data from the same source (CMC, for example).
>KYC oracles are already far less likely to misbehave because they have their off-chain real-world reputation at risk.
who KYCs? sergey?
>Stakers are aware that their stakes could get slashed in case of an stake payout
Chainlink has not made any progress or even described how they will approach staking, which is probably because staking based on outlier removal is the wrong approach.
Samuel Russell
>CLCG ouldn't run a Chainlink node for shit
Henry Powell
>Yet, this depends on third party ethereum services like Infura which gives them a centralized point of failure.
>Let us take an illustrative turn and describe what would happen to an Airnode if Infura went down. Airnode is designed to use multiple Ethereum providers simultaneously, without requiring a load balancer. This means that for an Airnode to go down, all of its Ethereum providers have to go down simultaneously (and it doesn’t have a load balancer as a single point of failure). These Ethereum providers are a combination of centralized or decentralized service providers, plus a private Ethereum node if the provider so chooses to maintain and operate one.
Nathaniel Ross
Mobius 2.0
That is all.