Solving the oracle problem

>solving the oracle problem

Wtf does this even mean

>it solves the oracle problem

A solution to a problem nobody cares to date? Sounds great.

The oracle problem is a problem that is a oracle

There is no good way to get real world information into the blockchain without relying on some authority.

Smart contracts need outside sources of information from the real world to operate. These are called oracles. For e.g. if I make a betting smart contract to pay out the winner of a sports bet... how does the contract know which team won the game?

>biggest win
>meme mask
These faggots have no idea what they're talking about.

Just code an if/then line.

Thats the problem, how do you get the boolean valuation for the conditional

Ok. But how does your code know when "if" triggers?

It doesn't unless you are connected to an oracle.

And you can't trust the results from the oracle (especially when you have money on the line) if it is not decentralized.

For this reason, he has shifted to calling it "the connectivity/middleware problem" instead of "oracle."

Augur has the only good solution

They needed money

He should've done that from the fucking beginning, nobody knows what a fucking oracle is, and it sounds retarded as fuck...

I don't know. What if a lot of libtards have augur and you bet that trump becomes president and the libtards get salty and coordinate together to enter the wrong price? Sad.

It makes sense though. Also it's a term from computer science.

...

You can Google it and read the first link that describes exactly what it is you fucking brainlet

Look at ETH.
What makes it worth the $300 it is today?
Smart contracts
They are revolutionary. Don't know why? Google it. You will find all sorts of uses for them, from Finance, Insurance companies, Airlines, you name it. There is a problem however, which is probably slowing down ETH's growth. Right now, smart contracts on the Ethereum network are limited; it's confined within the blockchain and with data on the blockchain.
Chainlink changes that.
All of those potential uses for Smart Contracts - that's all now a very legitimate possibility now. In the simplest terms, Chainlink allows for extenal data to inform smart contracts. When you consider the fact that it's decentralised, it gets a whole lot better.
People that keep saying things like "why would banks use chainlink when they can just make their own version" clearly don't understand the fundamentals of this project. Chainlink's goal is not to "be used" like (e.g.) Ripple hopes to achieve.
Chainlink is merely the bridge that enables data which is outside of the Ethereum 'universe', to communicate with it, and thus execute various actions.

1. Eth and smartcontracts. We all know smartcontracts are revolutoinary, but their use cases are limited. Smartcontracts are awesome, but they are confined within the blockchain and data on the blockchain. In otherwords, right now smartcontracts are "you send 1 eth and I'll send back 1000 McTokens", and this contract is verifiable/trustless/amazing but its stuck within the universe of Ethereum and the data Ethereum understands

2. It is possible to use extenal data to inform these contracts, but right now that process is centralized. This is a problem. Lets say the extenal data is a transaction of Dollars for ETH. So you send 300$ to bank account X, and then I send one Eth to your address. Right now you either do that through a third party (CoinBase), OTC (LocalBitcoins) or whatever else centrlized system you want to use.

The coin would be seen as a failure and the price would tank to nearly zero

They have every economic incentive not to lie.

>Invests in crypto
>Doesn't know what an oracle is or how to use google

They have ideological incentive though. I just think in general when the stakes are high enough people will lie. Augur might work if coordination were impossible but that's just not true these days.

They have ideological incentive to label themselves as liars in denial?

I know what an oracle is, you braindead fucks, I'm saying it's dumb from a marketing perspective.

Those of you who dont understand how absolutely huge Link is going to be can stay poor.

Miners want to mine bitcoin because bitcoin is wanted. Node operators will want to provide the most used data to the chainlink API because they will be getting paid. Those who are setting up nodes now are pure geniuses. And no, i dont run one yet.

The Oracle Problem is also being solved by ZAP
ffs it will moon past chainStink and leave linkies in the dust buy at
Zap.store

A good example of someone with an IQ lower than a gold fish.

Zap is a service that ChainLink node operators will be able to use to show what data they provide. Think of it as amazon for oracles.

Lol @ the zap shill who fell for that shit and can’t stop spamming every thread

Maybe you're just a brainlet

eeeeeeeeeerm
its good to see my post on Veeky Forums

> i knew i would make it KEK xD