Can some please explain the relationship between these 2 for a brainlet?
Bitcoin & Chainlink
Ryder Lopez
Other urls found in this thread:
blog.chain.link
infoq.com
twitter.com
Julian Harris
they both use blockchain
Daniel Cooper
One is already 1000$ and they other one will never go to 1000$.
Asher Powell
Bitcoin is like a grandpa. Farting every now and then because its intestines get regularly clogged up.
Chainlink is like Elon Musk. Maybe smoking weed right now, but still producing innovative tech solutions to the world.
Not much common in those two, except both being crypto assets.
Michael Phillips
Chainlink is a leech and a scam.
Jaxson Flores
One is a unregistered security the other is commodity
Jayden Sullivan
LMAO NO
one is a blockchain the other is an oracle network connecting external APIs to smart contracts hosted on the blockchain
Jose Rivera
Chainlink could be used to release BTC to a certain account when a certain requirement in reality is fulfilled.
For example if someone dies CL could be used to draft up a digital will so the person's BTC aren't lost forever. Easy example.
Christopher Bell
not only External Apis, but also computed data (decentralized computing) say for example a smart contract mus do some very time consuming processing. it could also externalize it on the oracle node network.
so basically nodes can:
1- fetch data from the external world
2- lighten the burden on the blockchain by doing time consuming operations for the smart contracts hosted on the blockchain
3- do verifications, YES a node could also be used to verify anything for the smart contract (example of the steam game sent by alice by ari juels).
HERE: read this :blog.chain.link
Nolan Peterson
it goes beyong than tokenization and crypto transfers dude, that's what sergey have been saying for years....it's not just there for transferring coins and tokens...you can do MUCH MUCH more read on this
>>> replied here
Jose White
Chainlink is the ultimate later adopter cope coin
Bitcoin is where you should put your money
Ethan Harris
I know that frendo, it's just limited in relation to BTC.
Link has the ability to automate most wage jobs and replace the entire service market if you think it through. Whoever solves the oracle problem will become more important than BTC by far.
Justin Smith
not only that but EVEN create new alternative markets as stated by ari juels
Nathan Sanders
so they both use blockchain, got it
Joshua Ward
true
Evan Reyes
>Errata:
One
>is a $1000
Other
>is going to be.
Jose Long
Implementing oracles well on the BTC mainnet is not very easy. However, the ligtning network is much more amenable to trustless oracular inputs. The folk at MIT have been working on this:
infoq.com
The general problems with oracles still remain, though. How can you be sure of the accuracy of external data? How do you know it will be transmitted reliably? How is it insured if something goes wrong? These are the problems that Chanlink is deigned to solve.
One of the first decisions that the Chainlink team made was to recode their software into Goloang, the same language that LND and lit are written in. I suspect that part of the reason for this was that they anticipate future integration (after the lightning network grows as a payments network).
As others have mentioned, the applications of oracles are endless. On the lightning network, you'd expect to see thigs like trustless betting, trustless Uber etc.
Elijah Hall
Neither of them are the true saving grace of crypto
Oliver Reyes
Ok, is the link price being surpressed & if so, is there a connection to this BTC pump?
Evan Kelly
rootstock will integrate chainlink
Aaron Brooks
Bitcoin is a failure
Chainlink is a scam