Chainlink will be the biggest tech revolution since the industrial revolution
Chainlink will be the biggest tech revolution since the industrial revolution
Well, no. Smart contracts will be the biggest revolution since the internet. ChainLink will be a part of that.
Also if you have any Ripple you should sell it for Quantstamp, according to your ID.
Wtf are smart contracts anyway? I see people throwing these fancy buzzworsds around all the time but nobody has yet been able to actually explain what they are.
nope. you can also funnel data through decentralized networks without aiding smart contracts.
It was BTFO'd yesterday by nootropicat
You guys know that you should sell now and buy when it is around 0,22?
why do you need a smart contract for information storage? im legitimately asking.
automated and self-regulatory digital agreements.
that are tamperproof
what the fuck does that mean?
wut? the whole point of signing a contract with someone is that it's manual because you read it and in general need to know what you're signing
kek, regulated my ass. it's just a fucking contract, you either honor it or you don't.
a MS office document is also digital. what's the innovation here?
are you retarded? just go to yt a type what is a smart contract instead of embarassing yourself
I specifically asked for someone to explain it and nobody is able to. >hurr go to youtube
Thanks for proving my point yet again.
You legitimately can’t be helped
haha fucking retards
not a single one of you knows what smart contracts are
Money, if it was also intelligent.
I don't think you understand user. Your questions are so stupid that people either think you are trolling, or that at this point they should at least be paid to tutor your retarded boomer ass because that's what you come off as with your level of ignorance and obvious lack of research into anything to do with crypto. I'll leave it at that because you're just a waste of time at this point.
Perianne Boring is speaking at CONSENSUS 2018. She was also a speaker at SXSW together with Sergey. This could be huge for us Linkies.
Nice b8 but no more
God Tier bait
Perhaps a bit too good.
I wanna fuck her so bad, mommmmmmmmmmyyyyyy aaaaaa
She's so clever, pretty and confident. She's the female version of Chad. Stacy ain't shit.
dude, its not contracts with your fucking janitor. You can sign a contract today with a bank, and they will all be processed manually, even shitty payments have to be manually processed by operators, they are impossible to control both from your side and their lack of auditing can fuck you in the ass, and they are extremely vulbenrable, security-wise. something like a smart contract will change all that
complex tasks that today are still manual (or require some kind of manual input), very hard to audit and vulnerable (which is the entire world of banking, insurances, etc) will all tend to migrate to smart contracts, which allow for an incredible diversification of tasks, all within our control.
She's already been had by the Winkle twins lad
You're an idiot...contract is just a random nomenclature labeled for the mechanism in which you are inquiring about.
A "smart contract" is a mechanism designed to send one function of data as an input that will execute another function of data as an output if and only if the conditions are met by the initiating input function.
So, we have various variables implemented into an input function that will only execute a triggering response (output function) given the variables all match up.
So, for instance...If I have I buy 20 eggs and 1 salad that weighs less than 6 lbs. I will be rewarded with a coupon from Amazon for 10% off my next carton of milk I purchase at wholefoods.
Okay, so if the conditons are right, and I do infact have 20 eggs and one salad that I bring to the weight sensor/scanner at the wholefoods self automated store. I will automactically receive a coupoun for 10% off my next carton of milk I purchase with them...
Done, it's fucking amazing, self-automated, and yes...tamperproof because it's all going to be utilized on the blockchain....
So to answer your question brainlet...Should you dump every last penny you own into chainlink??
Uhhh, yeah you fucking idiot...because by 2020 this will be a reality for everyone, and everywhere you go
>The “if….” component of the smart contract relies on data from outside of the blockchain provided by an “oracle” – which could be a database or a person – providing confirmation that the precondition has been fulfilled. A smart contract is reactive, and only as smart
as the self-executing code on which it is based and the factual accuracy of the data input by the oracle. Where data is automatically obtained and input from
a reliable source, its accuracy may be relied upon. For example a smart insurance contract might have as its oracle a database of meteorological statistics. If the database records a storm or drought (as defined
in the insurance contract) occurring, then insurance pay-outs are automatically triggered. Where the oracle is a person inputting data manually there is obviously a
risk of human error. In the event of error in the coding, the result may be wrong regardless of the accuracy of the oracle.
Oh, and the eggs and salad would need to weigh less than 6 lbs....another variable I forgot to mention...
See, even my human error would have screwed up the contract...thankfully once the code is written and looked at carefully before being submitted...it will never be able to make an error.
Imagine if a contract could walk and talk and can interface with anything or anyone including peoples brains, and can fix any problem automatically and no lawyers are involved and you don’t even have to do anything the smart contract does everything for you. Something like that.
Guys, seriously...the only way for chainlink to fail are two ways...possibly three...
Scenario 1: Governments combined gather around for fear of losing control of the general public and the flow of money so they outlaw all cryptocurrencies and only utilize blockchain for keeping records of things. So bitcoin falls to basically nothing, and that's it...the end of cryptocurrencies as we know it.
A very seriously unlikely scenario...
Scenario 2: Sergey doesn't know how to code all of this correctly and make it truly compatible with the ethereum algorithm, translating real-world api's into erc20 algorithms ...and that's it the project ends up becoming a total flop
Scenario 3: Sergey dies before main net gets released...lol
Sergey has lost weight and is taking health seriously. A fatal heart attack from fast food addiction is no longer imminent. Sergey is changing his name to Chad and ChainLink’s to ChadLink.
Grocery stores already do this using conditional logic eg if they detect you buy a Pepsi you might get a coupon for their store brand Schmepsi. You don’t need a new world of smart contracts to do that it already is fucking working for many years using a little thing called computer code.
have you ever ask yourself , did i do a good job, i'm on the right track ? i for myself i'm asking this every day , and i know i'm on a good track by reading about skywire
Common misconception: there are no fully automated contracts out there. Smb still need to call it and pay for checking the conditions
You're that dumb huh? literally that retarded...I was giving one example...damn man...you can't reason with stupid...
So, how do I make a Smartcontract giving me a bj?
you loose through stupid
The problem is that you still have to convert legal language or contractual requirements into code, and that can be fraught with either error or trickery. In most cases the will function just like any conditional logic would, with the same potential issues. Just because they are running in a different platform does not mean they are magical and completely automated.
M-m-mmmommmmy, did i-i-iiiit hurt when those boys spread you and filled you with their meat, mmmmomy ?
Y-y-yyyyou used some ointment, d-d-dddddidn't you m-m-mmmomy ??
It won't be that bad man. Look into Sentinel Logic.
I'm a philosophy major at UCLA and we have to take Logic as a pre-requisite to complete the B.A.
It's all strictly related to implementing arguments into a function of code.
Symbolization, look into it...type in Symbolization logic.
how was it btfoed exactly?
Dubs tell the truth
Okay. No ones given a few good compelling use cases for smart contracts that cannot be done easily today. It’s the same in every thread where this question is asked, people just respond with brainlet memes and buzzwords and “you just don’t get it, do you?”. Care to give it a shot, since you seem to know a lot more than most?
>t. Bottom seller
It's right fucking there. If you dont know what that means go fucking educate yourself
A fucking digital agreement that fucking automatically executes when some fucking previously agreeed upon conditions are fucking met you fucking dumb piece of shit
This is a terrible example. No insurance company will blindly pay out a policy based purely in a set of meteorological data. At most they might use that as one of the data points they use to evaluate the claim, so it can help act as a way to filter out certain claims based on a set of very black and white conditions.
>well looks like there’s a drought in California, better automatically pay out every single insurance claim filed durrrr were smart now
Calm down stinky
Axxa is already doing that on the ethereum public blockchain
Sorry, i cant deal with stupid before I had my morning coffee
Axxa is already doing what specifically? I bet they aren’t paying people just because there’s a drought.
Sure man...What about a health insurance company then.
Let's say you want to sign up for blue shield health insurance. Now, you have to give them a bunch of documentation (real world data) so that the company can accurately assess what payment plan to put you on. This is a very time consuming job, and requires the health insurance company to hire a clerk who compiles all this data, stores it, and gives it to management to go over and review in order for them to gauge what payment plan best fits that individual or individual's family who is inquiring about health insurance.
A lot of things matter when it comes to health insurance, or other insurances in general.. Age, income, predisposition to certain illnesses, current illnesses, location, etc...
So once all of these data points are compiled into one document for management to review. They will then give an appropriate payment plan.
So, we could then use smart contracts to completely cut out the jobs of management, the clerk who takes all the data and stores it in the centralized system of computers they have.
A smart contract will be able to assess all of this data at once and spit out a payment plan almost instantaneously. And all of this is tamper proof because it's a decentralized oracle utilized on the blockchain... But how do we translate all this real world data into an ethereum based algorithm? CHAINLINK!!!!
This is going to save billions of dollars globally...Now do you see how important this could be for businesses?
Thanks for the effort.
Does this mean all the patient’s health data is accessible via a blockchain? How do you secure that?
How does the patient s data get into the system? You still neee to verify if it’s correct.
This may automate some clerical, accounting or low level tech jobs, but I’m not sure how smart contracts are any more than glorified.ini or batch files, just filtering data and presenting options based on a set of criteria. I’m not really convinced by that use case and I think it could easily be done today with the same amount of effort without smart contracts. You still have to set up this whole new automated system in either case.
you do realize even the Enterprise Ethereum Alliance is 100% focused on developing applications for permissioned versions of ethereum like quorum right? The public version benefits because it's all open source but no serious company has ever demonstrated any interest in building on the public blockchain aside from the one meme example of AXA and Fizzy. No company that cares about data privacy to the point where they use a permissioned blockchain, like hyperledger, will ever use a public oracle network that then makes all their contracts public. They just don't care about that degree of decentralization or being ideologically pure.
Chainlink will live or die based on whether a smattering of meme crypto token projects that are still 90% just white papers can displace the legacy financial and insurance worlds. I'll give you a hint, they can't.
>public oracle network that then makes all their contracts public.
None of the data being fed through the network will even be visible to the node operators, let alone the public. This is rudimentary white paper stuff.
>kek, regulated my ass. it's just a fucking contract, you either honor it or you don't.
ummmm. contract isn't created till money is ponied up. That is how it is regulated.
Have fun scanning and faxing. Also, manual contract could be manipulated/altered.
I’ll check those out later so I can understand it better, thanks.
>"automated" and "digital" are buzzwords
you have an iq of 85. the fact that you managed to navigate your way around this board is astonishing.
of course it will.
now its time for your medicals
"Medicals" as in tests to ensure that you are physical well enough to carry out a task.
or do you mean
"Medicine" chemicals which you are given in the western world to help improve health but not for you because you are 3rd world pajeet scum
Doubt it will be revolutionary. It could be months before the main net is turned on on even the ethereum testnet. They haven't even started writing the contracts and it's just way too expensive to use. Imagine paying for gas for 100+ nodes each time you want to use the network.
Cheaper just to pay 1c to oraclize imo, the risks far outweigh the expensive piece of shit sergey has created. Even if 10% of your contracts get fucked by a centralized oracle it's still cheaper than chainlink.
it's a meme you dip
Agreed. I bought in at 1.15. Not even kidding. 2025 and I’m fucking rich
Got to lower that man
the gas required to access the oracle goes on the node operator responsability AFAIK
you can be penalized for not having enough gas to move the LINK tokens around
wrong. Read the white paper
yeah I read that on the slack, was weird as it wasent in the WP but it ws said by thomas so I believe him... maybe its just for now? or maybe I read it wrong?
>takes hundreds of dolllars of middleman payments every time you want to do something
>LINK lets you skip that middleman
>but a 1 dollar fee is too much!
this is how dumb you sound
There's a reason decentralization is considered important.
>tfw masturbates in public wearing a safety helmet
I’ll take it
Nah that pic shows centralization is key
... key to the outhouse maybe.
Please tell me you’re joking along with me before I fully invest my time in this banter
The pic shows that centralization is shit, among others because it yields a central point of failure. Hence the """service interruptions""".
As well as a central point of attack and tampering.
Oraclize is not secure
In what situation would this be more useful than normal contracts?
Situations where you don't want to run the risk of having to go through years of court hearings just to get the other side to honor the contract.
It must be pretty secure considering the most prestigious ethereum gambling dapp uses it you dumb nigger.
>a fucking illegal gambling dapp uses it therefore it's secure
are you serious?
what stops the owner from paying the oraclize dev behind the scenes to rig the rolls?
Post an actual situation as an example
oh jesus you couldnt see the sarcasm
>degenerate gamblers care about security
Any contract whereby the other side might neglect to honor the contract.
Do you have autism?
Post an actual situation as an example.
You can't think of a contract where the other side might neglect to honor it?
I just want an example :(
Any contract where the other side might neglect to honor it.
because they don't use the number straight from oraclize. Jesus fucking christ read the etheroll FAQ; this scenario is explicitly addressed. Plenty of dapps that need oracles are getting by just fine without chainlink.
Just bought 100k link
Can't wait for my Lambos in 2019
yes they use the number straight from oraclize you fucking retard, there's literally no other way to generate a "random" number on blockchain
fuck off you retarded gambler. after your retarded post any sane person would've closed the tab out of shame
yes heres the banter i was wanting
My current contract for renting a flat has 20 pages, how is smart contract going to enforce anything?