Hey guys. Newfag here. I see that Chainlink is shilled a lot, but I'm not sure if it's a good investment or not...

...

why are you being so mean

Decentralized oracles are an absolute necessity for smart contracts to gain traction.

This is a lucrative space, so there will be/are competitors to LINK in this space.

But LINK has the first mover advantage, and already has widespread interest amongst other cryptos that need decentralized oracles.

I'll give you a quick rundown.

This coin has ridiculous potential. Like, market changing potential.

The thing is that the team is small and the guy running it doesn't give updates. It has also been historically used as a Pajeet and Deplete shitcoin.

It could have huge pay off, but it's risky as fuck and seems far out. Most people are of the mind that they can grow their stack on less risky investments and then buy in IF this coin eventually looks promising. Right now it's in limbo.

user is correct. It is a game changer with insane potential but nobody knows if anything will come of it. It's a risk in the sense you will probably miss out on many moon missions before this takes off.

To me, this seems like the most guaranteed moon mission that hasn't left orbit yet. Question is whether you have the patience for it. A year is like 10 years in crypto.

I was talking to my dad about that the other day. A day here is a month in real time. If you aren't constantly keeping up with the news you're missing money.

>in my kingdom you run as fast as you can just to stay in the same place

why did some one shop a fucking smile onto it

>getting this assmad over an abbreviation
How mad are you rn?

Why the fuck is this shit posted everyday, I feel like linkies are just being pranked big time

Read this user medium.com/@sergeynazarov/chainlink-an-overview-and-our-focus-14f03335b803

LINK's potential is insane. However, this is a long, long term project. There are many moon missions happening everyday.

I hardly think anyone will have steel hands for this once it starts pumping next year. But this is a solid choice for a long term hold.

honestly as implementations with everyones favorite meme coins like OMG and REQ and many more to come start coming out you're gonna see it go up. I know the last two months were rough but it's not gonna be like that anymore.

and i mean to say you're gonna start seeing significant news within the next month. it's not going to be long before it starts moving upwards seriously

Nah, if you buy too much LINK you'll eventually get the problem of not knowing what to do with your millions of $s.

Buy @ 1k sat
Sell @ 3k sat
Repeat

1.

Smart contracts are basically pieces of software that can oversee and execute a trade, without any third party having to press the “trade” button. So if we want to trade, say, 1000 LINK for 10 ETH, a smart contract can “look” to see that we have both put up our ends, and when we have, it automatically performs the swap. It’s great because we can never rip each other off (the swap only happens when both sides have fronted) and we don’t need a third party to do the swap for us and take fees.

But smart contracts are limited at the moment because they can only perform swaps for very specific things, and that is, things that are coded in terms the smart contract can understand. For example, an Ethereum smart contract can trade LINK for ETH because it can “see” both of those things on the Ethereum blockchain. But it hits a wall when we want to trade, say, ETH for a concert ticket. The concert ticket isn’t coded in a way that Ethereum can natively understand, so there is no way for the smart contract to know that it is a legit, non-cancellable, version.

This is where oracles come in. An Oracle is a company which has recently appeared in the smart contract space, whose job it is to translate data into a form that a smart contract can understand. So, you could hire an Oracle to program your concert ticket in a form that could be read by the smart contract, so that the smart contract could properly execute a trade when you have fronted the ticket, and they have fronted a couple of ETH.

1/3

What kind of retarded advice is this?

2.

But there’s a pretty serious problem here. If you’re paying a private company to translate your data into a smart contract readable format, then what’s the point of even using a smart contract in the first place? The whole point was that we didn’t want to have to trust a middleman in order to make our trade, but now we’re using a trusted middleman and both of us have to believe that the Oracle is doing an honest job. The whole reasoning behind using a smart contract is wasted, because if we’re going to be paying private Oracles to translate data, we might as well just pay a private mediator to oversee the trade and take a fee.

This is where ChainLink comes in. ChainLink creates a decentralised network of oracles so that the entire process of smart contract execution is trustless. Instead of trusting a single private oracle to translate the data honestly, we are now using a trustless network of nodes to move information on and off blockchains. This is massive, but to get an idea of how massive, you need to think bigger than concert tickets.

Big business, and I mean pretty much any big business, will love smart contracts. Billions if not trillions of dollars a year are spent on exchanging value, and huge money is paid so that the value is exchanged properly and accountably and fairly. Smart contracts automate the process of value exchange and therefore offer billions and billions and billions in savings to companies that use them. But companies aren’t diving all over them yet because of the problem listed above. If a number of entities want to perform large exchanges of value, but are all using their own private oracles, then the trustless exchange is not achieved and the smart contract is pointless. ChainLink, and ChainLink alone, offers up the possibility of bringing end-to-end trustless smart contracts to the world, and this is a revolution so profound that at this point it is almost impossible to see the future extent of it.

2/3

3.

But is ChainLink the project that will do it? You might have been reading FUD about 2 man teams or absentee CEOs or shit like that, but here’s what we know.

The ChainLink team were the only blockchain related team to be invited to present at SIBOS two years running, and in their proof of concept this year they showed that the ChainLink network could automate messaging for certain aspects of SWIFT’s bond processing. Sergey’s EOY announcement mentioned SWIFT by name twice in giving examples of the sort of work that ChainLink could do, and the work that was ongoing. While the market seemed to want to hear the word “partnership”, this was proof of a close and ongoing relationship. SWIFT manages messaging standards for more than 11,000 banks worldwide.

Also, ZeppelinOS recently announced a partnership with ChainLink. ZeppelinOS stands to be the base development layer for future dApps and smart contracts on the EVM (Ethereum network). They provide a standard interface for dApp/SC development and will use ChainLink as their default oracle service. This means that the vast majority of new projects built on Ethereum will use ChainLink in the background without even knowing it.
And this is just the beginning. ChainLink is probably the most profoundly anti-hype project in the crypto space right now. They have said that they will let their partners announce all partnerships, and they just want the tech to speak for itself. If ZeppelinOS and SWIFT aren’t enough, the EOY announcement hinted at ongoing work with everyone from small SC startups to the absolute monsters of finch and insurtech. ChainLink’s demo at SWIFT had data provided by organisations (like Barclays, Santander, BNP Paribas) with literally trillions of dollars in assets.

Read between the lines. Consider the complete absence of hype. Look at the monster information that has come out already. DYOR.

3/3

>The most shilled ERC20 token on biz

>Calling a ERC20 token a coin

The majority of link shillers dont know what the fuck is going down

you need to relax rn

I think rn is time to relax

based man, now delet this