ChainLink: You have two weeks to prepare for this ICO

I'm in their slack, they're focused on developing their product and not marketing because they know that it will sell out regardless. 50% of the tokens available to the public are allocated for the presale, the rest are going to the crowdsale. 20% bonus for buying in the presale too.

Are they going to do a whitelist or anything? Also, how can I get an invite to the slack?

Presale is 100 ETH minimum; I did a little over 200 though, this is gonna be really, really big.

slack invite pls user

slack.smartcontract.com/

the link for the slack is slack.smartcontract.com/

this shit better make me 20x

Sergey Nazarov, the lead dev, has been in the crypto space since 2011 and has been working on oracles since the concept of smart contracts were first introduced. He's very well connected, personally met with the Ethereum devs before it launched publicly. He knows what he's doing. This is going to be the ICO that everyone wishes they would've gotten in on. The FOMO will be real.

I'm balls deep in this one, not a shill.

>slack.smartcontract.com/
thank you

Thanks man!

What's the difference between this chainlink shit and just a regular oracle publishing their API on a normal ETH contract? Sounds like it's all marketing and hype without actually adding anything new to the table from a technical perspective.

what is the point of this? is it suppose to scale for crypto currency?

>youtube.com/watch?v=MfH1B85YyFU
Anyone who is skeptical needs to watch this video.

I have 100eth I can afford to throw at this. Red pill me user

doesnt work

doesnt work

Also I don't see why they would need a separate token for this (except to collect swee ICO shekels of course) because
1) it's on the eth network
2) they don't even state what the tokens will be used for but presumably to pay for the API data, there's no reason this couldn't be done with regular eth

I don't understand how they want to generate money

ChainLink uses Oracles to connect smart contracts to sources of data outside of the Blockchain. This includes things like confirmation of delivery of an item, confirmation of a wire being sent or received, interest rates from banks, sports scores, death certificates for life insurance, etc.

The traditional problem with Oracles is that the data feeds for the Oracles are highly centralized, and become the weakest link in the smart contract. As a smart contract becomes more and more valuable, the more it will be attacked, and typically at it's weakest point.

Chainlink uses it's LINK token to secure decentralized nodes which act as data providers for Oracles. The nodes are secured through staking LINK tokens, which then allows the node operator to earn fees/rewards from the smart contracts that are accessing the data from the Oracle.

They already have working Oracles. You can create one right now - create.smartcontract.com/#/signup Chainlink will enable security in Oracles that currently isn't possible, and enable smart contracts to functions in ways that will truly begin to shake things up.

More questions? Ask away.

>>youtu.be/MfH1B85YyFU

god dammit

youtu be/MfH1B85YyFU

I still don't understand. Where is my lambo in that story?

this

it works when you watch it on youtube not when embedded like that

100ETH min buyin. Most plebs can't even afford.
Move on

The LINK token is a currency used by things in the outside world to communicate with the blockchain I think

I still don't see how this decentralizes the oracles themselves. Is it just a matter of
>oracle provider publishes data to chainlink network
>data gets stored on chainlink nodes
>users of the data request it from these nodes
?

Crowd sale for the public is on Sept 7th

1 billion LINK tokens
30% developer share
35% split 50/50 between presale and crowdsale
35% for node operator incentives

17.5% will be available to people who can't afford the 100 ETH buy in for the presale. Many of the people buying the presale will not be dumping these. Also, there's a 20% discount on the presale, and prices go up if the ICO lasts longer than a day. Right now 2400 LINK = 1 ETH, on the ICO it will be 2000 LINK = 1 ETH.

No exchanges 100% confirmed yet, but EtherDelta is a given, Bittrex and Binance are likely.

If you want a Lambo, buy the ticket before I get the chance to sell it to you at 10x ICO.

Watch the whole video, but skip to 22:35 if you want a specific answer to that question.

youtu be/MfH1B85YyFU

>100ETH min buyin.
only for the presale

What?

Why would anybody want that to have a LINK token?

Alright, so they're maintaining a network that's basically middleware for oracles, and to use those oracles you need chainlink tokens? And also some part of the oracle fee goes to the chainlink company.
I still don't really see how this is fundamentally different from a data provider implementing their oracle directly on the ethereum network, and taking a fee in eth, but I guess it could be interesting if this is really that much easier to use, and they manage to market it to lots of payment processors/enterprise shit etc..

Because they don't have the experience and background that these guys do in writing Oracles and the necessary security surrounding them. Yes, they get a cut, but they're going to be continually maintaining everything and keeping it up to date with security needs as they change.

Most of these questions are answered starting at about 22:30 in the video

youtu be/MfH1B85YyFU

Do I have to provide identification to participate in the presale?

Yea I've just watched that, that's why I'm asking to see if I got it right.
I don't really have a problem with the devs taking a cut per se, but I wonder how this wouldn't become obsolete very quickly as people can just implement their own oracles, and they will be basically just as secure from a consensus/centralization standpoint, + they can get paid in eth without needing another token.
Of course the software has to be maintained but I can see players like Paypal or Amazon being perfectly able to do that themselves.

Nope. You can even do it from a US IP address as long as you check the box that you're not a US Citizen.

It's cheaper and more secure to pay a node operator that has a proven record of reliability and trust than to implement your own and continually update it and ensure that it's secure.

Sure, companies like PayPal or Amazon are perfectly capable of doing something like this themselves, but think of the tens of thousands of companies that rely on PayPal or Amazon for their services because it's cheaper and more secure.

Let's say someone develops a smart contract that enables customers pay for goods and services with bitcoin, and the vendor gets paid in ETH through the smart contract. By using a Chainlink node that is staking LINK that will be lost if they fuck things up, you get a much higher level of security.

So as a data provider I publish an API in a format that the chainlink nodes can understand, and then what? Do I have to pick a specific node, or does it not matter which node passes the API through to the eth blockchain?
>By using a Chainlink node that is staking LINK that will be lost if they fuck things up, you get a much higher level of security.
How will it be determined if a node has fucked something up?

I'd like if they actually have customers lined up for this, don't they have connections to SWIFT for banks

Well I actually just spoke with one of the devs who said that they aren't taking a fee at all anymore. Node operator fee goes 100% to the node operator.

Same reason tokens like BAT exist - to create a token with a price point separate from Ethereum and to create it's own economy that is independent (obviously it's not 100% independent from ETH) from Ethereum's economy and price fluctuations.

alright, thanks for the infos user. I'll hit up the slack if I have further questions.

Yes, they've built proof of concept Oracles with SWIFT.

> Don't have an account on this team yet? Contact the team administrator for an invitation

so how the fuck do i join the slack

wrong slack in OP, use this one - slack.smartcontract.com/

wait, hold up.

What the cap on this?

$32,000,000 roughly based on current ETH prices

What's the presale expiration date?

October 7th if they don't reach the cap beforehand. Zero chance it goes that long though.

From slack: "I honestly cannot say, when we hit our goal on our pre-sale it will end. We are no more than a few days away from that"

Looks like we need some moons. 31,000+ is a lot.

Sergey just posted this in the slack to prove it's him

100 ETH is chump change in a presale for an ICO like this.

When this bitch goes 20x, just get that Lambo and get the fuck off this board.

plus you get 20% extra tokens during the presale. who doesn't love free money?

Liquidated 2k+ LTC to get some fat LINK tokens.

This is probably the best project we'll see this year and it's so under the radar. In for 200 ETH, and I know people in for a lot more than me.

ICO's seem like a clusterfuck. What do I have to do to ensure I can get in on this?

what's total supply?

Do you have at least 100 ETH to throw down right now?

1,000,000,000

Need 500 ETH ready to go for Kin and Enigma. Couldn't go deep for this one, just couple hundred ETH.

Nope don't have 100ETH. I'm assuming that's presale? What can I do instead?

Wait til general sale, they are closing presale very soon.

Cool. Any tips on ensuring I can get coins? I've heard when demand is high it's almost impossible without using bots etc. Or will they use a fair method of distribution?

this one or enigma?

enigma

Get a bot, program a bot, nit hard for this

But u def wont get any without one

This one is gonna be a feeding frenzy, so you might wanna be ready with your finger on the trigger

Figure out how to time transactions to hit on certain blocks with small amounts of eth using MEW, then when it's ICO time crank your gas price up to 60 (assuming they don't limit it), set your gas limit to 500,000 or something really high, and pray you can get your transaction included in a block before it sells out.

>26 posts by this ID

just trying to help some fellow anons out as they've helped me. I wouldn't have bought eth at $20 if it weren't for Veeky Forums. nice digits btw.

replying just because of your dubs

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