Will most businesses just avoid public blockchains and use private ones, rendering LINK and a lower value than expected?
Private chains:
>Free to use as no token / transaction fees to pay
>Faster
>Private company data not visible to public & competitors
>Avoid the volatility of public tokens and flutuating gas costs
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Aaaaaaahhhhhhhhhh !!!!!
Broooooos !!!!!
How will they bring in external data?
lol sure, like everyone just avoided the public internet and stayed with AOL instead
This was last week's fud OP. We are past that now.
how is that even remotely analogous?
Let's just check the scorecard.
Public chains: most explosive asset class in history, global public obsession, literal billionaires, countless successful businesses in the ecosystem.
Private chains: *sad trombone noises*
They can still use chainlink, just without LINK. Chainlink allows this to enhance their brand.
Intranet / Internet comparison does not work here. Private blockchains provide more benefits than public blockchains to private businsesses (cheaper, faster, more private). Intranet limited businesses compared to internet. Literally the opposite.
Some hippy said public blockchains are better because he finds private ones boring? Not good enough my friend.
This is not fud but the truth. Tell me one big company that will use a public blockchain and memetokens and show their sensitive date?
Sergey brought link into life for funding. Nothing more nothing less.
Also companies wont approch smartcontracts until ISO finishes their reports by 2021. So link will only be used now for price feeds
fuck off to your discord you retard, not my problem that you want to increase your $100 stack. It's not like anybody comes here anymore.
>what is sgx
>what is zkp
It will take a long time. ETH has to figure its shit out until big businesses use it. So link main net gets to be tested by the smaller startups who’ll prove its value before big fish jump in. It’ll take a few years, you fags are not getting my linkies, fudders KYS and anyone genuinely worried should step back and ask why do we care about decentralization?
There is a point that public blockchains can still be used if companies want their data private - by using ZKPs and TEEs.
But all the other benefits still stand compared to public chains.
LINK will still be used by smart contracts on public chains, but i'm wondering how big public chains will really be if most companies will just use private blockchains instead.
>They can still use chainlink, just without LINK. Chainlink allows this to enhance their brand.
Faggot listen to me
Internal data = private blockchain
External data = public blockchain
You’re ignoring the cost of trust. And no company can interact with another company that’s not in its consortium/private network. Link aims to be a standard protocol and will save money for anyone that uses it.
Exactly man.
>The press release underscores that the $20 billion+ market cap Ethereum network offers enterprises a level of liquidity that “dwarfs” that of any existing permissioned blockchain, as well as removing the need for building an in-house private blockchain from scratch.
Explain yourself. Are you referring to interoperability between private and public chains? If so what makes you think LINK would be used on the private side?
The team has straight up told us how chainlink works on private chains. (no LINK).
No
Smartcontract started by making dank oracles. Big Corp will use dank oracle for their own shit, knowing they’ll need to get external data one day in a reliable, trustless CHEAP manner, starting by using chainlink sets them on the path of interoperability and if they were to bring value to main chain they’ll provably get a token kickback from serg.
Docusign for one is advertising by next year they’ll be using Ethereum.
you say intranet limited businesses compared to internet. i say it's the same with private blockchains. the only benefit you really gain from it is trustlessness, which is entirely gone in a private blockchain environment. the competetive advantage for the smartcontract usecase is you can fire a shitton of lawyers, because there is no need to trust your businesspartner anymore. you take private blockchains, you have to trust your businesspartner again and hire a shitton of lawyers
Is ETH and LINK the god tier portfolio?
it truly is, but eth is much more interchangeable than link
Which costs? Do they outweigh the money saved on not spending transaction fees and increased profits from faster processes?
That's true about companies needing to join the network to work together on it. But they'll need to join a public blockchain to work together here anyway all the same.
They won't need to create private chains from scratch if they join an existing one.
>eth is much more interchangeable than link
What do you mean?
well you can more easily replace the underlying smart contract/blockchain technology with something else than ETH, for example cardano, much more difficult with link though.
I see, what is your opinion on btc? Worth investing? Or just stick with eth and link?
personally i'm all in link, i'm not an expert on BTC though, everything from BCore to BSV seems kinda scammy and stuck in development hell to me
BTC is a dead, PoC, coin with no purpose. The only thing keeping the price up is salty bagholders who refuse to move on. IMO it's not worth it.
It's true btc is outdated tech...but the halvening event in 2020 might trigger a new ath and bullrun. The name is too big to fail
>BTC
Meant BTC core, idk about SV.
sure, it might trigger some kind of new bullrun, but IMO the upcoming smart contract bubble will be of more epic proportions
Public chains eliminate the need for trust.
Turns out, attempts using private chains are failing right now because competitors don't trust each other (obviously). Just take a look at this article:
>IBM and Maersk Struggle to Sign Partners to Shipping Blockchain
>It’s hard enough to get enterprises that compete with each other to work together as a team, but it’s especially tricky when one of those rivals owns the team.
coindesk.com
Private chains ARE boring.
>They won't need to create private chains from scratch if they join an existing one.
They don't want to join in on private chains because they don't trust eachother lmao. See:
Yeah it outweighs the cost of lawyers who are expensive as fuck. It's like you haven't watched every single Sergey video.
They already do, it's called a database.
In this one case yeah.They said it's "not on equal footing" so I guess they're not doing it right.
It is a point to think about though.
One counterpoint to using private chains is the added complexity. There will be so many networks to join, and if a company needs to join for multiple different applications with multiple different sets of companies it adds to more management time / resources. Instead of one unified blockchain which makes this simpler.
>Will most businesses just avoid public blockchains
Yes.
this lol. OP in shambles
no
Delete this
At the root of nearly every piece of Link FUD is one base sentiment:
"You loser NEETs and your NEET software will never amount to anything. The system will chug along just fine without you, go die in a hole."
People are threatened by Link because they're threatened by the prospect of NEETs gaining wealth and status over them.
Delete this
Brainlet here...is this good for ethereum
Why would companies use a blockchain (the most inefficient database ever) when they could use a fucking Oracle database or PostgreSQL? Even if they want to have their own tokens, why not just use a fast and cheap real database? The only advantage of blockchains is to be censorship resistant and decentralized, neither of which are applicable to any legal business in the world.
Companies aren’t going to subsidize your NEETdom, ever. Get that idea out of your head and maybe you will stop getting scammed over and over again.
Case in point.
His first point is valid though
You haven’t refuted it. You have 0 understanding of economics if you think companies are going to deliberately lose money by choosing an inferior product. You drank the hopium and will lose your money (again) to another Russian scam.
you forgot they are tamperproof and trustless
your stupid FUD was refuted
Automation.
oracle just autonomized their 18.c database.. so btfo.
His first point is valid if you assume that blockchains will be used the same way as traditional in-house databases (they wont be).
Private blockchain is a joke of a concept. Nobody will ever use a private blockchain because the only benefit of using any blockchain in the first place over other traditional data structures is that they are trustless. If you have a private blockchain you already introduce trust into the system. At that point you should just use a distributed database
Chainstink is not automated. Someone has to pay to initiate every action.
Meanwhile automating any real database is easy as fuck and built in. And no one has to pay anything to interact with it.
It’s only as trustless as the external data sources are. If you have faith in some API to tell you something about the world, then it’s just as sensible to trust that API to update a database or fucking Excel spreadsheet. Someone could lie or hack either way. Literally useless. Chainlink preys on people who don’t understand technology and business, just like 99% of other ERC20 scam coins out there.
I can tell you have most of your net worth in link and are desperate for someone to refute you, but they won't. Deep down, you know you got memed on. You know what you have to do. Click that sell button.
that's why they are coding their aggegation contract right now, where they can aggregate from multiple different API providers
jeeez