First time crypto buyer here, I can currently get 8000 LINK but I had some questions. Sorry if these questions are stupid, im still learning..
As I understand it, chainlink connects API's to the blockchain. How exactly do they do it? Is chainlink a blockchain that they have to go through? Does a company have to rewrite anything in their API's or is it just "plug and play" so to speak
Is chainlink considered an DLT? For example if a company wants to connect their API to ethereum, can chainlink simultaneously connect it to another chain like Corda or Hyperledger?
LINK token is worthless as anyone can use Chainlink's software without holding any LINK
Colton Bell
Then what does the token do?
Benjamin Peterson
bump plz :(
Grayson Torres
>Is chainlink considered an DLT? No. In essence chainlink is a distributed network of nodes (computers running a specific software), they don't necessarily keep a ledger, and their purpose is reading requests off a blockchain network, interacting with the internet, and returning the results of requests to the blockchain.
In chainlink's current state, it can interact only with the ethereum blockchain, and it isn't decentralized or really distributed, as someone who requests an oracle has to specifically request the node to run it on. It's not much different than working with oraclize.it. That being said this is a very bare bones mainnet. Very bare bones. Can it theoretically support interoperability between multiple blockchain? Sure. Theoretically.
It's used to pay fees to node operators. And in the future, it will allegedly be used by node operators as stake collateral, but that feature isn't in yet.
If it's not obvious I don't own LINK, I think there's still a long time until it's used for anything.
Camden Bell
fuck reddit
Michael Howard
Wait, people actually fell for the memes and bought this cringecoin?
Jeremiah Butler
Woah hold up for a second. Link is a biz meme dont buy this shit of you are serious PLEASE
Daniel Baker
it's a security token the LLC holds 50% supply
Leo Phillips
Security with an ICO don't buy it
Julian Ward
Pays the node's fees. What do the nodes do you ask? Nothing at all. No one's using it and by the time they do, it'll have been over-taken.
Christopher Robinson
Thanks for the help. I was stuck deciding between two different "interoperability" projects but I think I'm gonna invest in the other one. Sorry linkies :(
I keep seeing a lot of article about banks and SWIFT using DLT blockchain technology and I thought it was Link, but I maybe not
Hunter Clark
And im quit suprised here, I see Link threads all the time I thought it was a good project.
Dominic Garcia
>interoperability Which would be the other one? I've yet to find one that isn't total bullshit. Interoperability is a big joke buzzword that nobody yet nailed, because it involves actually solving the oracle problem, which even chainlink's team admitted to not doing.
Austin Wood
it's a midtier project while Jow Forums whales were trying to meme it into top-25 for a 20x and they made it
Blake Sanchez
Fuck off nulinker, i hope you miss out, muh high iq, muh reasoning, you know jack shit and you can't even search for yourself, kys
William Morales
These people are lying chainlink is actually a good project this is a coordinated FUD CAMPAIGN (Fear, uncertainty and doubt
Jack Hernandez
I was referring to Quant Network. They have a working product that connects over 10 blockchains and a single transaction can be sent to all 10 simultaneously. They also connect existing API's, Clouds, and Oracles.
I'll have to do more research before I decide I guess.
Christian White
it obviously is, op and his team of fuds.
Noah Reed
QNT's connections are done by hand.
William King
You realize you're buying the top? You're too stupid for crypto, this is too late to buying anything.
Isaiah Wilson
you kidding us OP? first timers dont go throw money on crypto that much. also, u sound like a reddit larper. and lastly, u and ur interactive friends talks and types the same way you do.
linkies, dont fall for this fud, zoom out your charts a bit, youll see its going uphill.
Landon Garcia
>bought 8000 useless tokens. user, I....
Daniel Johnson
Based
Oliver Moore
I'm curious what FUD your talking about?
I asked simple questions and some people gave me good answers.
Sebastian Howard
Welcome to the club OP, anything negative you read here is to try to get you to sell so the price stays low for these room temperature IQ mouth breathers to accumulate before LINK moons.
