ChainLink

Why would banks pay extra just so they can keep using Ethereum (one of the few currencies that will be without a built in oracle)? Not trying to FUD, I just want to know the answer to this so I can invest in ChainLink

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The question is so lacking a basic understanding it literally doesn't even make sense.

Well new currencies such as Cardano will have their own built in Oracles and so only older currencies like Ethereum would have use for an Oracle such as ChainLink wouldn't it?

ChainLink is the only decentralised oracle. You need to look into what a decentralised oracle actually is and why it might be preferable to a centralised one. Someone else might spoonfeed you some pasta, but otherwise you'll have to DYOR.

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pic related is a good start
who got the lucky 88888s

>Why would banks pay extra just so they can keep using Ethereum
I have a feeling you have no idea what you're even talking about.

the new currencies have decentralised oracles too

reddit.com/r/Aeternity/comments/5kzjs4/the_new_decentralized_oracle_and_smart_contract/

Dont even try that shit here
linkies are way to much up their own asses
The truth is their are several oracles services (centralized and decentralized) who are serious competitors to link
And the chance is very high the project will just go under
One of many
That said chainlink has several pros the competition doesn't have i sugguest dzor on that
But its by no means a sure thing
Its a high risk high reward investment

i'm just trying to make the point that banks will have double fees if they use two different cryptos
for smart contracts instead of just one.

Oh yeah. Serious competitors. ChainLink better watch out...

yeah i mean aeternity has a dev team of 30 germanpeople. chainlink's two hamburger eaters are going to serve them hard

We all know how well it worked out for the Germans the last time they went up against Russia.

You're a real faggot OP

As far as I understand, ChainLink can be integrated into other blockchains.
The whitepaper states:
>ChainLink will initially be built on Ethereum [16], [35], but we intend for it to support all leading smart contract networks for both off chain and cross-chain interactions

Looking at Aeternity it seems like you would need to adopt their blockchain (?). And everyone is saying that serious institutions will never use public blockchains, but instead they could use a private blockchain + integrate Chainlink.
Someone can correct me on this, this is my understanding of it.

Banks won't use Ethereum. That's why they created Hyperledger in the first place. But Hyperledger still has the same issues as Ethereum, which is its inability to receive information from outside of its blockchain.

And that's what makes ChainLink so fucking good. It works for both Ethereum and Hyperledger.

The crypto community will utilize the Ethereum + LINK combo to create more ponzis based on real world data. Meanwhile utilizers of Hyperledger will utilize the Hyperledger + LINK combo to use smart contracts to conduct business.

Go to the website smartcontract dot com and see the options including bitcoin, ethereum, and town crier. Hyperledger was up there a few days ago. You can download the code and set up a node and no shit do your own proof of concept with linkies. Dyofr you mong. Why do I come here.

You come here to be frustrated and annoyd.

>butimenjoyingmyanger.jpg

Link is marketed towards corporations, not banks you brainlet

This.

>Oraclize
Centralized.

>Aeternity
It's a glorified poll. People answer a question, majority decides the answer.

>Mobius
lol. It's an online dApp store. The oracle part is a joke, and they devoted one or two paragraphs to it in the entire white paper.

Which others?

>ethereum
>currency

Ok

while all corporations are not banks
all banks are corporations

It's the new state of Veeky Forums.

It doesn't matter how well articulated your arguments are, because the recipient has the same understanding of crypto as a fish.

>It's a glorified poll.
what did you mean by this?

shrunkbrain.jpg.png.jpg

Nothing. Hold on to your new "currency".

does it really mean so much to you if i put 'crypto' at the beginning of currency?

It means you are to be taken as seriously as the people who refer to crypto as shares or stocks.

But by all means, aside from the shit solution Aeternity chose to go with on the oracle front, it's an alright project. But one would have to be a true dimwit to believe that platforms that aim to be a jack of all trades would be able to outcompete projects in their specific area that aim to be the master of one.

>pay extra
One advantage of utilizing blockchain technology is the reduction of expenses.

i mean use ethereum as opposed to cardano or aeternity

See Big business won't use Ethereum, Cardano or Aeternity. They already began development of Hyperledger.

And if luck strikes LINK, they will utilize Hyperledger with LINK. If not, they will have to develop alternative oracles that satisfies their security concerns.

My guess? LINK will be utilized only by some corporations that uses Hyperledger, but will by no means become the standard oracle solution for Hyperledger. But that tiny share will be more than enough to feed the LINK nodes for years to come.

Oh, and I do believe it will become the standard oracle within the cryptosphere, which is more than enough to shoot its mcap up a few billion.

>majority decides the answer.
Is this not what link does? (Consensus)

Aeternity dont pay their devs (Zack)

F them

>pay extra
>keep using Ethereum
>few currencies that will be without a built in oracle


I just... user the brain cancer is terminal, I'm sorry

Chainlink will fail cuz fees for ethereum contract are significant. They are created on chain and people need to pay a lot of gas for them.

On the other side Aeternity contracts will be out of chain and be executed on state channels. This will lower the fee for a smart contract to almost zero. Fast and Small Fee smart contracts + Oracles will make Aeternity usable in almost any system.

Last time I transfered my tokens from one address to another, it took more than 0.01 ethereum for executing a smart contract. eth was $1000+ back then. I paid $10 for executing a smart contract. + you add up chainlink custom fee to it and voila, it will cost and cost much.

When you need to integrate a coin into lets say... a video game system where users will be able to buy some items with coins. You shall need to use smart contracts. If you use ethereum for it, single transaction in a video game will cost user maybe 2$ + plus the cost of the item. with Aeternity contract it will be 0.01$ + plus the cost of the item.

AE will moon soon.

Pajeet tier reasoning and writing

...

I’m happy to answer this. Every currency needs a decentralized Oracle because it is like an independent court system to ensure the enforcement of a contract. If you were doing a deal with Burger King for example you wouldn’t go to the Burger King created court and expect to have a trust free ruling in the event you want a refund for a wrong order. A proper trust free Oracle must be completely independent of not only each party but also the means of exchange.

Nice reddit pasta nigger

What part of blockchain agnostic do you not understand?
You expect financial giants to use Aeternity's own blockchain? kek
ChainLink is supposed to be a piece of infrastructure on top of any solution (most likely a private blockchain) that corporations wish to use.

what with oracle problem that attract psychology major ?
>sergey from chainlink
> paul sztorc from bitcoin hivemind

Dear sir wen moon?

witnet.io is a competitor to chainlink. it's about 18 months behind though.

>18 months behind

That's a decade in crypto. By the time they launch a product, every person willing to run an oracle node is already tied up in LINK.

Someone posted this other day.
I just loved how they dedicated this lengthy text in FAQ to compare themselves to ChainLink stating that their main advantage is not being bound by Ethereum's current low scalability without actually knowing that ChainLink could be built upon anything else like said.

They try to shit talk ChainLink and they didn't even understand it. They are also so much behind, September 2019 for main net lol.
ChainLink will develop so much more (and even Ethereum) before these guys even arrive to the market with a viable product.

Did you seriously just make a shitty brainlet thread and copy paste some FUD from reddit just to bait people into posting ChainLink info?

Bitconnect team had 20 people, Ethereum team was 1 russian teenager.
Your point?

Good sir that word is spelled BITCOONNNEEEEEECCCTT

Thanks god it i tanking hard again

I have had some tough luck lately and can get 7.5k LINK if I go all in now.
Hopefully, it reaches 50c and BTC does a major run up to 20k. Then I might finally achieve my 10k LINK goal, buy a nano and faggetboutid for a year or so

Aeternity has a shitty process f or descending if the information an Oracle prtovided is actually accurate. It's slow and it provides no centive for other oracles to point out errors. Their lead dev had a faalling out and threatened to take the code. The next dev they hired quit. Also, their oracles will only work within the aeternity blockchain. Chainlink is blockchain agnostic and their oracles system is better because it prevents Sybil attacks

you have to go back

the whole point of the token is stupid, companies are only going to want to use the oracle network itself - not that actual token

> Chainlink
> blockchain agnostic
> Aeternity
> You gotta use our blockchain

How retarded do you have to be to not see this major difference and its inmplications right away?

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And how are they going to pay for network usage? The network is not free.

Just terrible, terrible FUD all around. Nobody even tries to make compelling arguments anymore.

Wow two retards arguing opposite sides and both fucking wrong.
You have to use the token. It's part of the network. It's like saying "oh but what if I want to use the internet without an IP address?

Æternity is a blockchain of Blockchains like icon

...

This is just too sad

>The truth is their are several oracles services (centralized and decentralized) who are serious competitors to link
name them then

sir dont you know about mobius and corda kek

You could have named zen protocol instead of embarassing yourself like that, sir