Can anyone explain how the LINK token will work? My understanding is that a smart contract will give some LINK to a node operator for providing a service (linked to an offchain service), but I don't see how it gives value to the coin.
For example if Paypal creates a node to interact with the blockchain, Paypal's node will receive LINK. But since Paypal will want you to use their service, they will most likely ask for a very low amount of LINK to encourage smart contracts to use it. With that in mind, my understanding is that the token demand will be very low, leading to low prices. What am I missing?
From the white paper:
In order for a smart contract on networks like Ethereum to use a ChainLink node, they will need to pay their chosen ChainLink Node Operator using LINK tokens, with prices being set by the node operator based on demand for the off-chain resource their ChainLink provides, and the supply of other similar resources.
Can anyone explain how the LINK token will work...
no answer despite all the shilling?
Chainlink is the biggest hype coin ive seen on biz. People are buying it because they see the swift brand associated with it
In addition to the economics you brought up using a blockchain to link centralised non block chain data has no advantage over a normal api and would be more expensive and slower.
No doubt link price will perform very well short term because of "muh swift" but dump your bags at the top
You're missing the part where node operators hoard the token to get their nodes more traffic.
>Can anyone explain how the LINK token will work?
It won't work shit before the oracle thing is solved. Also it's already obsolete. They are trying to do what ripple does
I'm so glad I didn't buy into this garbage coin. I'm already seeing sell walls come up from everyone realizing its never going to moon
ADHD much?
The coin is doing great, what are you talking about?
How in the world does that mean ADHD
>gets scared of a dip that doesn't even take it below yesterday's ATH
>sells before the conference in three weeks
Some people just don't have what it takes.
>he bought link
>he didn't buy walton
I know you must feel like a genius, but you're honestly retarded. This "garbage coin" will be $1 before end of October
Are we fudding again?
People think that SWIFT is going to let the prices they pay to transmit information be determined by node operators?
listen, just buy the fucking coin. Why are you fudding like this? I'm not selling my bags.
Reminds everyone that LINK isn't going to explode.
>but muh link has to explode because I put my life savings into it.
Yes it is a good coin but will eventually have no demand, literally every Veeky Forums person is holding this coin.
>literally every Veeky Forums person is holding this coin
That's right. The smart money is on LINK
Go back to trying to milk another 2% out of OMG.
>Yes it is a good coin but will eventually have no demand
Just like Ripple has no demand, I mean no system on Earth is currently using it.
Never held omg. But you guys who would risk that 100% gain over guaranteed 2% gains must have no idea what leverage is
how does hoarding the token increase traffic?
it's literally a part of the node ranking algorithm
did you even read the paper?
kys
>no advantage over a normal api and would be more expensive and slower.
Do you have any earthly idea what ChainLink actually is?
There's no mention of a node ranking algorithm in the whitepaper you dumb fuck
Is it time to FUD again? We still have a ways to go before the conference and I'm trying to get some more cheap LINK
>Veeky Forums
>smart money
>muh read duh huwyte paypah
Read it as many times as you want,it won't make the coin go up.