Ethereum not going to use ChainLink (Thread Cont.)

It’s only prevalent here and we loved to btfo stinktards. Putting that much hope into anything is counter-intuitive.

Wait, can you really store LINK on the monero blockchain??? I thought it was an ERC-20 token

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Decentralized oracles sound like a good idea, but why did they need to use their own funding token? Why not just use Bitcoin? Or ETH?

>mfw the fud nowadays comes from link bagholders
>mfw i regularly post fud for memes
>mfw people attempting to post unironic fud have no clue about the technology, its painful to even read their posts
>mfw link is gonna moon anyway

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did you watch the entire video?
Yes the 1000s of LINK spammers and bagholders were.
Proof please
Pathetic cope. No1 outside of Jow Forums cares about LINK.
What do you expect
So Sergey can take a hot steamy dump on his cucks.

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Great argument.

>nowadays
Welcome aboard newfag. The fud train has been rolling and fully booked by linkmarines since 2017. Genuine nolinkers just filter threads or ignore it completely. Maybe post the occasional dismissive one line comment. The ridiculous theatrical fud is and always has been bagholders descending into mental breakdown.

So that the fat russian scammer can keep a stack of 350 million tokens to dump on all the retards on this board

deluded morons like you are the reason i will come visit this board when this shitcoin inevitably dumps to zero

Wow you sure showed us your extensive understanding of how all of this works in a calm and collected manner.

Just sold another 100k. Keep these high quality posts up.

> The ridiculous theatrical fud is and always has been bagholders descending into mental breakdown.
So you're staying that Adelyn isn't sneaky? Or that Thomas and Steve didn't have a fight after Denver or that Tom Gnoser didn't call Sergey a sandwich fucker or that Dan doesn't like feet? Dan fucking loves feet user and don't you forget it.

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these are the threads XRP niggers make because their kike scam coin has no adoption after 7 years, unlike ChainLink which has partnerships with the largest corporations on the planet.

there's nothing to argue you're a retarded faggot and ETH is worthless without LINK

Wow, people still don't understand Chainlink.

With all the posts dedicated to enrich Biztards the knowledge they need to "make it" and then I read something as stupid as this post and also other posts in the thread.

My god. Brainlets are for real.

yeah but why not just use BTC or ETH though??

Except linkos never post any thing like that. Because there is no tech, no partnerships, no use case. You're all just living a collective delusion.

Because bitcoin or Eth isn't blockchain agnostic my fren. You can't store BTC on the Eth chain but you can with link.

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Ugh, cause LINK is a ERC677 token. Its sole purpose is to transfer data.

The tokenomics of the LINK token.

1. Chainlink nodes will be paid in LINK tokens ONLY. There will be conversion tools for people that want to use fiat but will be converted to LINK. at the end of the day only LINK tokens can power the network since the nature of ERC-677 token, built specifically for LINK, is to transfer data.

2. LINK tokens are used as collateral value. Smartcontracts will use Chainlink nodes that carry a % value of LINK to the value of the Smartcontract. So yes, you can start a node without LINK but no one will use it. High value smartcontracts or any contract that has value will use nodes that carry the same or a % of value of LINK.

3. Decentralized networks that are home to smartcontracts will need decentralized data to execute. Chainlink is currently the only option. Thats why you will see everyone in this space partner with Chainlink

Except All of crypto will be using Chainlink oracle network.

Its to the point projects are now putting the use of Chainlink oracles in their whitepaper.

This user is meming fellow anons. Link is 223 transfer and call standard not 667 just made up nonsense. Read the whitepaper

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No-one outside of blockchain space gives two shits user let's be honest most companies still write things down with a pen and paper.

It also would not be feasible to use BTC or ETH.

Think for one second.

How would that even work. The mining power to use BTC or ETH or any other blockchain just to transfer data would be too costly. Too wasteful.

The world spends billions, close to 20 billion in 2018, in hardware alone to mine blocks. Its spends an estimated $50,000 an hour in electricity worldwide. How can you even think of using BTC or ETH for this type of network.

Cmon, we are talking about middleware connectivity that can connect Smartcontracts to the real world. Permissioned blockchains to private blockchains. Private blockchains to private blockchains. We are talking about the internet of crypto. Without decentralized oracles NO ONE can use smartcontracts. Its all dead. ETH, EOS, ADA, all of it. is dead. It wont work.

Sergey Nazarav is a genius. LINK nodes mine data. real world data. You know what you need to do that? a CPU and LINK. That is all. Not a million dollar mining farm or anything close to that. Its designed so that everyone can mine the network. All you need to do is stake more LINK to aquire higher value contracts.

The more LINK staked in the nodes, the more profit one can make running that node.
The more LINK staked in the nodes the bigger the smartcontract economy can become.
The more LINK staked in the nodes the more stable the network/connectivity becomes.
Finally
The more LINK staked in nodes the higher the price becomes.

Your welcome. Good night.

Tldr
>this isn't your personal blog user

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>Sergey Nazarav is a genius. LINK nodes mine data. real world data. You know what you need to do that? a CPU and LINK. That is all. Not a million dollar mining farm or anything close to that. Its designed so that everyone can mine the network. All you need to do is stake more LINK to aquire higher value contracts.
Sounds basically exactly like ETH 2.0 with PoS. So you're agreeing the LINK token is useless and ETH can and will be used instead when decentralized oracles are built on ETH, the only viable smart contract platform of the future.

Im telling you that data computations will all run in oracles and the answer written to Ethereum making scale better. The problem for Ethereum? They become just a shell since all the data is in the oracle network.

Your making the assumption that all the words data will be on ETH... deluded. You are forgetting all the connections off-chain to other blockchains, the cloud, legacy databases, data apis, etc.

2019 will be about middle ware protocols. and finally the network will come alive. Keep your eye on smartcontract usage because of this.

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then ETH becomes purely the logic engine and database layer it was meant to be

Please stop, user. The delusion of LINKies is the only reason I browse this board.

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I'm making the assumption that ETH will be the only viable smart contract platform in the future. That's a safe assumption. If so, why do we need specialized nodes for oracle blockchain agnostic middleware when we can just have specialized nodes for decentralized oracles on Ethereum using ETH as as reputation tokenomics

Or just the vessel that executes smart-contracts but doesn't carry any data nor value.

From a cursory glance into eth 2.0, it seems like they created sharding and PoS out of something very akin to the entirety of Chainlink - implemented on eth entirely.
>muh blockchain agnostcism
Good luck with gaining traction when your main initial use case gets swiped from under your feet. I'm sure those Cardano decentralized oracles will make up for it, lel.

Tokens just like Israel have no right to exist.

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Well for starters. Vitalik has already said he doesn't intend to do so.

secondly if they ever did attempt this it would create complexity within ethereum blockchain. With complexity there is vulnerability. With this type of complexity there is contradictory consensus.

The fact that things are hard to do doesn't mean they can't be done. Especially if a bunch of rich autists make it their pet problem.

Oof

checked for dubs of truth

Of course it can be done. But there is a reason restaurants don't manufacture their own tables or car makers don't make their own tires.

They let specialists be specialists.

On a business level it also wouldn't make sense. Think of what would happen if Ethereum went through another two years of trying to implement something like this. how screwed up and delayed their network would be while other platforms just decided to use Chainlink.

you can chose your level of decentralization with CL
>i want to pay for 1 node to do this
>i want 10 nodes
>i want 1000
>i want 19000

there are so many complex workflows you can execute with middle-ware, multiple chains, iot sensors, connectivity to anything that has an API
literally endless possibilities
and they dont need a new fork of some monolithic chain that is trying to do everything every time a new feature gets added

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how is an in house eth built oracle even trustless? are you fucktards memeing or am i falling for 0/10 fud here?

I hold ETH and LINK.
It's smart for Ethereum to try and do as much as possible on their own instead of adding more possible points of failure from other organizations.

You underestimate the power of nerd egos. Vitalik despises Sergey for some odd unknown reason. Unfortunately, Vitalik commands an army of devoted hyperautists ready to do his bidding.

0xBTC

most people start going "yeah, well we could do it like this in ETH"
then they move to "well chainlink is a bandaid"
then "well the community is a bunch of frog posting shills"

eventually it clicks. and its "10k is a suicide stack"
then "1K is comfy, you've made it"

its a slow process, but most non-brainlets get there, eventually

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>The delusion of LINKies is the only reason I browse this board.
If true that is some sad shit right there. You are poo shill though so....

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Vitalik despises Sergey cause he knows whats coming and he can't change the course of Ethereums future.

But I agree Ethereum is and will be the dominant smartcontract platform.

>The delusion of LINKies is the only reason I browse this board.
>deluded morons like you are the reason i will come visit this board
>1 post by this ID
Do you see?

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I believe in link, an absolute game changer. Blockchain agnostic, great. However it's also clear that private chains won't be using the token and the argument is that private chains are just training wheels until public get privacy and speed the enterprises need. So basically betting on link is betting on public chains winning out for enterprise adoption which really means eth with zkp and scalability and link oracles and all the EEA and consensys projects coming together. Any other chain will remain in its shadow regardless of tech details which don't matter in the end. Betting on link is betting on eth 2.0 except link will remain in the backend and eth in the front-end with more exposure as the chain standard and another x1000 spec bubble while link might not get noticed by the bags pumping normies, so why go all in on link instead of going all in on eth? Or at least 50 50 to balance the risks? The recent EY and société générale are strong signals of what's to come, and now think of all the killer apps link will allow eth to do, eth will be at the center of all the 4IR smart contracts headlines, not link despite being the catalyst

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>and he can't change the course of Ethereums future
The whole thread proves that he did.

wave 1 will be private chains to prove functionality and for B2B
wave 2 will be public chain adoption as corporations start to offer B2C services via smartcontracts

Am I missing something?
Hes literally talking about how DIFFICULT it will be to implement pos with economic efficiency
Hes also strictly talking about RANDOM NUMBERS, which is a very narrow scope, chainlink is bringing real world api data to the eth blockchain, meaning MANY other data types with real events attached to them

Is everyone on this board fucking retarded or something? Holy shit I dont belong here

I know blockchain....I get it now

Where do I go from here? how do I learn blockchain? I'm going to make it my career. We are all going to make it

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everyone anti-LINK gets a little retarded because they want so bad to be right about it being a shitcoin (they're not)

Checked. Kek, you're right. I actually have a Jow Forums oldfag approved minimum 35k stack. Just bored and wanted to see if I could stump some newfags.

>numbers
>strings of text
>a big difference
it's all bunch of zeros and ones. Once you do the first, you can do the second. The guy in OP only talks about one use case - PoS infrastructure.

I don't think you actually listed to the whole video.

You were dropped at birth

He literally talks about how the xor operation is a critical part of generating the random number. You can't just xor strings and read any meaningful data from the output you sack of shit

Exactly my thoughts

You lack the ability to interpret new information. Reciting what you just heard doesn't cut it.

THIS FUCKING BOOMER JUST STOLE CHAINLINKS IDEA

I knew you deluded twats were stupid, but goddamn.

I'm a software engineer at a fang company

Please explain exactly how you could use the pos mechanism described in the video to feed anything other than random numbers into a smart contract

I'll wait

I've got this one boys
first let me put my headset on...

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>I'm a software engineer at a fang company
Sure you are

>dodging the question

answer the question there professor, quite deflecting. from what i can see this is only referring to random number generation also, which is a tiny sliver on the spectrum of chainlink use cases. i have no idea why this thread even exists.

I fail to comprehend how can one be so incapable of connecting the dots in this situation. Guess being in a FAANG doesn't guarantee reasoning power.

After almost 2 years of retard fud you can't figure it out? Yikes.

>dodging the question 3 times

This. The whole idea of a monolithic chain is flawed and will not happen. There is too much data, uncertainty, and specialization that it could never handle it.

all this shit he's talking, "its not cheap", "its complex", "bias", "influence"

but when CL mainnet, you'd just call x town crier (CL) nodes for secure RNG from SGX TEE's

Producing random numbers collectively *is strictly harder than* storing strings and crosschecking them across nodes doing so (competing oracles)
the first requires some additional, decidedly non-trivial procedural logic/computation. the second is dumb in comparison.

Why would you if you'll have the same thing built into the protocol.

Well put

Just bought 750 million OTC

i'd say having deterministic and random co-exist is less than ideal

The guy in OP said that the Eth team actually implemented this. I'd advise you to watch the videos, they are short.

hardness has nothing to do with the fact that the mechanism that is actually generating the random numbers is not compatible with real world data. This is not a general approach that can be arbitrarily applied to other use cases.

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I've listened to them
doesn't change what I'm saying, it is less than ideal
just because they couldn't find a better way to do it, doesn't mean it is the right way

I'll reiterate mr faang:
One problem is a subset of the other

Did you even listen to what he was saying?
The random numbers are a REQUIREMENT in order to randomly choose the next node who gets to mine a block under the POS system.
Because POS needs this.
It also involves dedicated hardware apparently.
In other words: the random number generation is an integral part of the very basic function of ETH 2.0.

If you thought it made sense for the backbone (ETH) of an overlying oracle system (Link) to use the overlying oracle system for its own basic function, then you're a flaming retard.

and im saying that the two problems are disjoint

feel free to prove me wrong

I understood that. You are incorrect unfortunately.

So please do tell us how ETH's random number generation system replaces oracles.

>spoonfeed me
kys

It's more like "explain the unexplainable you retard" than "spoonfeed me".

OP being a brainlet, as expected.

I got IDs jumbled. He should still refrain from dishonest deflection tactics.

Yes, it's blockchain agnostic, did you not read the white paper?

>ETH not going to use LINK

What does this even mean? It's like saying Bitcoin not going to use HTML

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