Can someone explain me why decentralized network for centralized oracles should be significantly more interesting ?

>answer
The shit in your pants made you cry right fucking now, Rajeesh !
You suddenly realized you got scammed, didn't you ?

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depending on the type of data I could think of a number of solutions. if it's of continuous nature (like the temperature) you could average out the data given from a number of APIs. if it's of discrete nature (the result of a car race) you can apply "majority rule".

You sound upset did you forget your applesauce this morning, or is the spoon you want us to feed you with not your favorite buzz lightyear one?

Thanks for answer
So the 'trustless' function of Link is to take money from the caller for giving him info from the API he choses on what he choses to ask that API ?
Why not call directly the API if the caller trusts that API ?

This. Link is not some wondertoken, link is merely a small part of what Sergey wants to do with smartcontract.com.

Top kek

I've already done too much to help a non-White.
DYOR, or preferably just stay poor and out of my country.

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You’re the biggest cuck on the planet, even worse than the DGB bagholder who put a sharpie up his ass. you can’t be bothered to Dyor so you come here wanting your hand held. You’re never going to make it, this place is an echo chamber and all you’re going to read is people feeding your own delusion. Also kys

In that case which would be the minimum number of APIs that follow an event so the result would be correct ?
Let's say a car race in New Delhi.

Ffs yea I may be a brainlet in this area. So faggots saying dyor can fuck off because even if I read more about this cube it is just words on the screen. Some of us don't know why or how this tech would be better than another coin.

What I do know is this shit has been on the market for a decent amount of time. And performance has been relatively shitty. It has weak pumps, and crashes to hell when btc dips.
Dumping my 1k market price and crashing the price. I suggest you guys get out

It will only work if you stand in front of the fastest car so you get mowed

linkmarines don't answer this absolute cuck just ignore him. if you wanna help out, help those who aren't being unnecessarily hostile just to elicit more answers like some fucking falseflagging faggot anxious for reassurance and validation.

Yep, I thought so. No answer to my question.
Won't go insulting you back because I guess how you must feel allready realizing you got fucked in the ass by literally a guy who calls himself fucking Assblaster.

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up to smart contract owner to decide, why u ask this shit on filipino cartoon board?

Yep, thought so. Too cucked to even kys even though the world would be better off without your wasteful mouthbreathing corpse taking up space.

Dude, this board is literally flooded with threads with months old copypasta about Link as we speak.
You do not bother about it and just circlejerk.
What is wrong if somebody asks for a legit disscution on some issues about CL ?
You just shit yourselves and shit allover. But yeah, OP's simple question showed yout true colors: brown and yellow.

Link was supposed to be trustless and decentralized.
Now I understand that it is no more trustless, only somehow decentralized, but since the smart contract creator has to chose the APIs it is completely useless.
Also thank you for not talking garbage like thr others.

TC gives you fidelity of data, the information requested exactly as it's stored. In that sense, there's no difference between centralized or decentralized. But how are you getting that data and from where?

Now, let's say you're in a contract with someone and he pays you 10 XRP for mowing his lawn each month. You would prefer to be paid in something else because you don't really like the whole crypto thing and it's not very stable, you don't know how many anime figures 10 XRP will be next month. So instead you let an oracle decide the conversion rate and he gives you anime figure tokens instead. The problem is that you're mowing the lawn of someone with 4 pools in his house and he considers you an insect. You don't really have room to negotiate. So he can tell you that you're going to use his high fidelity oracle that looks at the price on his exchange and everything is on a blockchain he's supporting. If you don't accept he'll find someone else to do it because you're a tiny person and in his eyes barely human.

If you're someone who also has 4 pools in his house, then it gets more interesting. Because you both have your own oracles you want to use and that give you the right price but both of those prices are different. So then you can use the average price of exchanges, without any of you knowing which exchanges are going to be used beforehand. Then you can look at that average price after discarding outlier exchanges in a way you've both agreed, maybe taking anything that goes over the range of the price that both of your oracles want to use or doing something with monthly volume or whatever. It can get as complicated as both of you want, it doesn't have to be an average, and maybe there's a penalty if your centralized oracle used for range rejects everything but your oracle and a couple of other. Whatever you choose, now you have created an anime figures futures market and you can also allow tiny people to trade that with 300x leverage.

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The oracle is the mechanism by which off-chain data can be written to/from the blockchain.
You could develop your own oracle, but this would not be trustless nor tamperproof, being centralised.
You could use a centralised oracle service such as Oraclize. This suffers from the same problems.

Field too long. To add to this, you can also do it on the inverse, where you're paid a fixed amount of anime figure tokens each month but they're paid in XRP.

No don’t dump your 1k please. I will even give you a bj if you keep holding !

you do not understand what the world trustless means in blockchain context. read up

oh no, he will crash the market with his 1k :(

smart contract owner doesn't need to choose and API. From what I've gathered, he needs to decide how many nodes need to fetch particular data and how much colateral needs to be locked in order for the node to be eligible for the job. WP states that it doesn't solve the oracle problem of the bat, as you need some serious network effects and utility as in these conditions it's more challenging for bad actors sabotaging contracts with false data. Sergey also countlessly mentioned that this only applies to deterministic data and not applicable to say construction projects at this stage.

As for decetralisation, it's a quite a broad concept like infinity, there different grades of decentralisation and you seek more of it if you need more security at the expense other features. Chainlink aims to give this flexibility to network users through staff I described in the first paragraph.

Regarding success of chainlink, who knows really but by the time your questions can be answered it will be too late, whether it's Chainlink or some other Oraclerino in the end. It's already too late to make it with eth, but scaling debate is still ongoing and various technical issues, degree of decentralisation etc. are yet to be resolved and there's no clearly defined roadmap for that.

Look at the smartcontract.com website. In its current form, when chainlinking a smart contract, the contract creator specifies the API to be consumed.
Nodes each report the data provided by the API. These reports are aggregated to determine data integrity.

>Mobius’ Patent Pending Proof of Stake Oracle Protocol reduces the Blockchain Oracle Problem into an oracle-arbiter consensus & coordination protocol. Our Proof of Stake Oracle Protocol is designed using a tiered federated byzantine agreement system that minimize trust and allows for the coordination of chains of events (data transfers) between multiple parties unlike current solutions which are akin to internet certification authorities and only coordinate single events between two fixed end users drastically limiting the use cases of such implementations. Mobius’ protocol allows participants to select trusted oracles from indexed listings in our market of competing oracles and then automatically builds tiered slices attaining quorum that are capable of attaining consensus while minimizing trust. Oracles compete on quality and are segmented into tiered levels in order to overcome the market for lemons problem and provide a transcendental quality differential. Consensus solutions at equilibrium exist inside the Shapley-Shubik core and limit collusion amongst oracles. The protocol is designed to protect against Sybil attacks and functions even under a coordinated 51% attack. The most important feature of the protocol is this asymptotic fault tolerance & security which guarantees ease of scaling due to Metcalfe’s law. In fact our decentralized network of oracles become safer to use, with ever lower levels of trust as we scale up.

read this, something about a shapley-shubik core limits collusion against oracles

WE ARE ALL IN THIS TOGETHER

DO NOT UNDER ESTIMATE THE POWER OF POSITIVE THOUGHT! ESPECIALLY COLLECTIVE POSITIVE THOUGHT!!

THIS SHIT IS GOING TO REACH $1,000 EASILY! HOLD THAT THOUGHT AND VISUALIZE IT IN YOUR MIND EVERYDAY AS OFTEN AS POSSIBLE STARTING NOW AND IT WILL MANIFEST INTO REALITY. DO IT! I'M NOT JOKING!

VISUALIZE AS OFTEN AND AS DETAILED AS POSSIBLE!

This is just mindtwisting at this point.
>Sergey: we have a decentralized™ trustless™ network of gathering data that you could use for a nominal fee.
>Client: explain
>Sergey: Well, trustless™ is not trustless and decentralized™ is not decentralized. Now dyor and pay me !
Dude..

you are a MANIAC

The oracle is trustless, offering guaranteed availability and tamperproof-ness.

That explains why Link is such a bad performer in the market.
It simply does nothing.
Well, it tries to create a problem that it can poorly solve.
Fuck..
APIs will gather and tranform data.
SC creator will make the calls using API's oracle. Jesus Christ, now this is what I call vaporware !!!

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Oh no! 1k link whale dump imminent, everyone jump ship and sell!!1!1

>SC creator will make calls using API provider oracle

making it vulnarable to attack. With chainlink, nodes are not aware which contracts they supply APIs to. Outside observers are not aware which nodes trigger a contract. With what you described, the smart contract space is a joke and all eoses neos ethereums etc are worthless.

Between what !!??
An API designated by the SC creator and the SC creator !!??
Do not eat what you ate these last months b/c it is destroying your brain cell !

Makes sense what you say, but after this thread I am seriously going to filter CL threads.
It is clear to me now that CL is not going anywhere in the near future, not to mention singularities and $10eoy, kek !

>An API designated by the SC creator and the SC creator
The point is that the communication between the data provider and the contract (oracle) is trustless, it's up to the way the contract is coded to determine how much proof, how many different data providers will be needed to verify an event.

Shhhhh....let the mobius pajeets circlejerk. It's fine.

Would you prefer a compromised oracle relaying false data from the source to your contract? Or an oracle without guaranteed availability?

dude... SO ARE YOU
you are in every fucking thread saying the exact same shit
"the definition of insanity is doing the same thing over and over and expecting a different result"

Good luck selling that ideea
>Would you prefer some fucked up shit or some spooky shit ?
The whole concept is a fucking fraud !

reddit.com/r/LINKTrader/comments/8fj3fv/can_someone_explain_me_why_decentralized_network/

link is like IFTT / ZAPIER for crypto basta pasta

It's fucking over. Don't tell yourself otherwise. You are an actual brainlet if you don't understand the implications of VEN's announcement. Even if you ignore the fact that most businesses would just utilize VeChain's smart contract platform with its built-in oracle rendering your shittoken absolutely fucking useless, their announcement also implies the simple fact that literally EVERY SINGLE ONE IN THIS BOARD WHO HAS HIGHER THAN ROOM TEMP IQ. Any smart contract platforms can just have their own oracles. Blockchain agnosticism doesn't fucking matter because everyone would just shit out their own oracle network because IT'S THAT FUCKING EASY. Your "moonshot" isn't anything special, sorry LINKies. Get absolutely fucking fucked lmao. On that note, see how it's currently pumping? That's the whales propping the price up as they finally sell their positions on this gamble of a token. I'm sorry, the dream is over. Go fuck yourselves. It's over..

old fud
try again

>Why not call directly?

Yeah man you should do that. Chainlink is not for peons like you. It's for huge corporations that have agreements that require as close to 100% uptime as possible and security against mitm attacks (oracle spoofing). For normal faggots a centralized oracle or no oracle is great.

Oracles are necessary for smart contracts to function.
The fact remains that Chainlink is superior to the alternatives.
You have not produced a convincing counterargument.

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Oraclize also has dogshit apps made on it and its query volume is also dogshit. They've been live for 2 years and when you average out the requests per app they're each servicing < 200 requests/app/day.

Chainlink has no competition. Other oracles are either centralized (and garbage, like Oraclize), or only work with a specific chain. Chainlink's model for a decentralized, chain agnostic oracle service will become the standard routing protocol for data in the dApp era. By 2019 it will be a top 3 coin.

faster, cheaper, safer. Just plain better. Mobius

>Why did you opt for Stellar, the protocol created by Ripple co-founder Jed McCaleb, instead of Ethereum for the sale?

>David Gobaud: We chose Stellar instead of Ethereum because we realized Ethereum could not handle the Mobius DApp Store transaction volume. Ethereum only runs at ~7 token transactions per second and transactions can cost more than $0.30 (sometimes multiple dollars!), which is significantly greater than credit card fees! Ethereum is also very insecure because it does not natively support multi-sig wallets and beyond that has an insecure Turing complete scripting language built in — both problems have contributed to the loss of hundreds of millions of dollars worth of Ether.

>Stellar, on the other hand, runs at ~1,000 transactions per second today and costs fractions of a cent per transaction. Stellar also natively supports multi-sig wallets and has smart contracting capabilities without a Turing complete programming language, so its attack surface is much smaller. We also really liked that Stellar has the Stellar Distributed Exchange which makes it easy for our DApp Store users to acquire MOBI without relying on any centralized system.

Oracles were never meant to verify the source.
To think otherwise is simply ignorance.

Thanks bro.
Makes sense.

1) it is one less point of failure
2) you can have multiple apis providing the same data. (Ideal situation)

For financial data, you could query the exchange, Thomson, Bloomberg etc. Additionally you can build in a logic that queries again the closing price of yesterday 12 hours later

Trustless™
On what, if not the source, my ass ?

If you don't know what oracles are for, that's not my fault.

I don’t think you understand the function of an oracle in this context then. Chainlink will ensure a result is provided via API and that the data queried from multiple link nodes is the same, but not necessarily correct. The “correctness” of the data returned from the API is dependent on the source(s) being pulled from. If you have a SC that pulls from multiple API endpoints, you can have slightly different results and are dealt with based on the SC definition (ie average of results). If you have an SC that pulls from a single source then there is no way to ensure the “correctness” of the data... just that multiple Link nodes agree that the data was returned and is the same for each node. The burden of correctness is on the API provider and isn’t a function of Link (nor should it be). If I’m the only source you query and I tell you it’s raining out and it isn’t, there is no way you can make sure I’m telling the truth... but you can make it very painful for me if I am lying via threat of legal action, penalties, reputation damage, etc.

>Sergey, bring me the price of yesterday on ChainLink™ blockchain©
>Will be right there.. tommorow. Pls gib 50¢
>Okay Sergey
>One more thing sir. Where should I get it from ?
>Bloomberg, Segey
>Okay sir,that will be $12.99
>Okay Segey
That is how a Linktard thinks bussiness is made

> Chainlink will ensure a result is provided via API
You mean Mobius user. The oracle solution is Mobius, you keep confusing things.

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I can't. Love you so much it hurts.

>1) it is one less point of failure

At the very least Chainlink does this. We already know there's a demand for oracles. Chainlink removes the single point of failure. It does everything oraclize does (whose popularity proves there's a demand for oracles) with that added benefit. Throw in cases with multiple data sources, and it's over.

Towncrier seems to imagine this as the best case. This is from their FAQ. They respond to the same question people are asking here. Seeing has how they are partners and the only decentralized oracle service they are working with, it's obvious they're talking about chainlink and see them as an essential part of their service.

Also, remember, sergey put his project with SWIFT on hold to work on chainlink. Even if you can't imagine why it's useful, Sergey and the people Smartcontract.com was working with saw the oracle problem as an obstacle that could only be solved by the chainlink network. there's no way he put that on hold to work on a useless oracle network.

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>multiple sources
>oracles™
>slightly different result
>trustless™
>single source
>decentralised™
>burden of corectness
Link is just a glorified email service after all. More like a spam 'service' who just transports data from Bloomberg to a fucking computer. For money.
Now let the sink inside.

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Mobius is superior in every way. Big Mac philosopher has down syndrome and couldn't code a game of Pong. get rekt by Mobi cuckLink

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A smart contract refers to the ‘execution engine’ of a previously defined agreement, and it must provide the proper level of assurance that it cannot be tampered with, so it is reliable. However, this may be delivered on a ‘trusted’ network that is tamper proof, but that does not require a blockchain, z decentralized oracle netwrok provide s tamper proofing.

Sergey discussed the need for smart contracts to have access to ‘data feeds’ in order to execute their logic. As an example, if a smart contract is supposed to pay someone $500 when a building permit is filed, the smart contract needs to be able to tap into some data source that informs it of this.
If the data source is a simple API from a single source, it may be at risk of being compromised or being inaccurate. If the result is payments automatically being paid in error, this could be very bad. This is where the notion of an ‘oracle’ comes into play.

An Oracle is designed to be more than ‘just an API’. They will include a rating so that its accuracy and usage could be seen, and may in fact collect data from more than just one API so that the data can be more highly trusted. Need a maximum amount of trust? Use multiple oracles. The ‘Chainlink’ technology is being built to deliver this. So, if you want to rely on some data feed to make your payments, you will choose an Oracle over an API every time. Especially for automated contracts.

ohhh BTW I forgot to cite the surce : linkedin.com/pulse/sxsw-2018-panel-recap-smart-contracts-we-getting-rid-lawyers-gonser