Smart Contracts are a type of digital agreement that automatically executes whenever certain pre-determined conditions are met, this allows to make cheaper, more secure and reliable digital agreements without needing to trust a third party The problem is that Smart Contracts cannot communicate with off-chain data (interest rates, FIAT values, the time, et cetera) This makes something as revolutionary as Smart Contracts limited to exchanging ERC-20 tokens mostly, and certain Dapps like cryptokitties (on-chain data; example: X amount of ETH = Y amount of ERC-20 tokens/kitties) To make more appealing Smart Contracts you need something called an "oracle" that is basically a middle man that connects off-chain data to the smart contract, this person has a certain power since they can change the data to their favor (we're back to trusting a middle man, which is not the point) ChainLink aims to become the leader Oracle service by creating a trust-less, decentralized oracle network, where you don't need to trust an oracle but rather the protocol of the network (think about it like Uber, you don't trust the driver, the driver dosen't trust you, but you both win by using the app, that is trust-less in nature)
This would allow financial institutions to save BILLIONS (Sources: Capgemini and WEF) and that would be just the first implementation of the network
They're working with Accord and OpenLaw so it works with the current legal framework and they've worked with SWIFT so they're compatible with legacy systems (ISO 20022)
>I recommend you read the whitepaper and the god protocol by Nick Szabo if you're interested in what I've said
When I'm old and on my death bed I'm going to be reminiscing about the times we spent on this Internet Panamanian consulting image board. All the FUD, LARPS, shitposting and Sergey memes.
I won't be thinking about Christmas as a young boy with my family, I won't be thinking about playing high school football and making out with the prom king after his date passed out, nor will I be thinking about my college days.
I'll be thinking of all the internets fun we had together
Adrian Ward
You guys realize that you're setting yourselves up for some whale to pump and dump on you, right?
Alexander Walker
>and making out with the prom king yep This thread is just an easy way for other people who are interested in LINK but don't have the time to lurk biz everyday, unlike dumb neets like me. You shouldn't really trade based on threads like mine, that would be stupid
Nolan Rivera
ctrl+tab
David Reed
Thanks OP! I don't lurk around much and this thread is helpful and very informative.
Jose Martin
Thanks OP, these daily threads save me from having to sift through the volumes of shit for my link fix
