Guys

The ChainLink whitepaper says NOTHING about the LINK token being used for collateral / penalty payments
Where did this info come from?

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Other urls found in this thread:

github.com/smartcontractkit/chainlink/wiki/Protocol-Information#penalty-deposits
twitter.com/SFWRedditVideos

>he didn’t read the brownpaper

>he fell for the "Link is a meme is the meme" meme.
It's a shitty ERC token not even required to run a node.

Of course it didn't, stop forcing this meme.

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GUYS WHAT THE UFCK
REFUTE THIS SHIT IMMEDIATELY
WE WERE UFCKING MEMED WEREN'T WE
FUCK YOU AND FUCK THE FUCKING LARPERS
FUCK ALL OF YOU AND FUCK SERGEYT
FAT FUICK FUCK FUCK FUCK FUCK AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

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HAHAAHAHAHA LINKIES BTFO AHAHAHAHAHAHAHAHAHA OMG FUCKING REKT

>Page 21, section 5.5 for the lazy/uninformed

5.5 LINK token usage

"The ChainLink network utilizes the LINK token** to pay ChainLink Node operators for the retrieval of data from off-chain data feeds, formatting of data into blockchain readable formats, off-chain computation, and uptime guarantees they provide as operators. In order for a smart contract on networks like Ethereum to use a ChainLink node, they will need to pay their chosen ChainLink Node Operator using LINK tokens, with prices being set by the node operator based on demand for the off-chain resource their ChainLink provides, and the supply of other similar resources. The LINK token is an ERC20 token, with the additional ERC223 "transfer and call" functionality of transfer(address, uint256, bytes) allowing tokens to be received and processed by contracts within a single transaction."

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This only relates to public chains not private chains that will see the most usage.

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> this level of cope
Amazing - linktards never fail to come off as the dumbest cunts on this board.

>using ad hominem because you fail to realize I agree with you.

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Literally open the white paper

ctrl - f, search "penalty"

4 results

" ChainLink nodes then choose whether to bid on the proposal or not, with the contract only accepting bids from nodes that meet the SLA’s requirements. When an oracle service provider bids on a contract, they commit to it, specifically by attaching the penalty amount that would be lost due to their misbehavior, as defined in the SLA. Bids are accepted for the entirety of the bidding window. Once the SLA has received enough qualified bids and the bidding window has ended, the requested number of oracles is selected from the pool of bids. Penalty payments that were offered during the bidding process are returned to oracles who were not selected, and a finalized SLA record is created. When the finalized SLA is recorded it triggers a log notifying the selected oracles. The oracles then perform the assignment detailed by the SLA."

>Section 5.2 Reputation System, page 17 and 18

Amount of penalty payments: If penalty payments were locked in to assure a node operator’s performance, the result would be a financial metric of an oracle provider’s commitment not to engage in an “exit scam” attack, where the provider takes users’ money and doesn’t provide services. This metric would involve both a temporal and a financial dimension.
High-reputation services are strongly incentivized in any market to behave correctly and ensure high availability and performance. Negative user feedback will pose a significant risk to brand value, as do the penalties associated with misbehavior. Consequently, we anticipate a virtuous circle in which well-functioning oracles develop good reputations and good reputations give rise to incentives for continued high performance.

Oh no no no no no no no how will linksharts ever wipe again

>When an oracle service provider bids on a contract, they commit to it, specifically by attaching the penalty amount that would be lost due to their misbehavior, as defined in the SLA

>specifically by attaching the penalty amount that would be lost due to their misbehavior

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LINK BRIANLETS BEETEEFOOOO

Sir, you are misbehaving sir. Sir if you continue sir, your attached penalty amount sir would be lost sir due to your misbehavior sir as defined sir in the SLA sir

it's alright guys the singularity is still on
github.com/smartcontractkit/chainlink/wiki/Protocol-Information#penalty-deposits

kekd

Always knew pajeetlets were behind this scam coin