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
Listen I genuinely care about about Anons financial well being. Its hard as shit to get ahead in life now, not just working 9-5 for the rest of your life. The sooner you start saving the sooner you can get ahead in life.
Chainlink is a meme started by Jow Forums (an infamous trolling board) to lead people to financial ruin. This is NOT A JOKE. Don't let your saved wealth be thrown away over night.
Vitalik Buterin the creator of ethereum said himself the days of making x100 or x1000 are over, that right the guy who created the second most popular crypto said himself those days are over.
Now Jow Forums is trying to get people to lose even more money after the December/January bloodbath. Smart money already exited the crypto world. Crypto is basically a highly specialized database, companies don't need this. They will just create their own private blockchains. There is no need for crypto chainlink isn't even needed to run the nodes. Think XRP when you think chainlink. The company ripple (smartcontracts) is doing well but the coin XRP(chainlink) isn't even needed for the companies technology.
Considering what Vitalik said "The days of making x100 or x1000 returns are over." Chainlink needs a 399900% increase in price over the next couple of months to reach $1000 this is ludicrous. Don't fall for it, chainlink its a meme to fuck you over.
Consider this for chainlink at current price to reach $1 you need an increase of 700% or a 233% increase every month until EOY.
This is a Jow Forums meme to siphon money out of the hands of the already vulnerable.
Doesn't really take much time besides lurking biz which I already do anyway kek Thanks frens. It's the top 2 gainer on Binance right now. It doesn't mean much since everything is going to shit but at least we're going there at a slower pace, heh
Parker Smith
Fuck off FUDfag. Your copy pasta shit will not work. You had plenty of time to accumulate.
