/biz/ - Business & Finance

[Anonymous No.17249739]

https://medium.com/@EdFelten/scalable-low-cost-computation-of-ethereum-smart-contracts-using-arbitrum-on-the-chainlink-8985c6542d4e

https://twitter.com/chainlink/status/1228462083328618496

>Offchain Labs
>Ed Felten is the Robert E. Kahn Professor of Computer Science at Princeton University. He formerly served in the White House as Deputy United States Chief Technology Officer. He is a member of the National Academy of Engineering, and co-author of the leading textbook on cryptocurrencies.

[Anonymous No.17249757]

you just win

[Anonymous No.17249759]

>Chainlink is ideally suited to support Arbitrum given its secure and flexible framework, growing number of high-quality node operators already securing hundreds of millions in USD value, and long-term viability as a standard layer in the web3 protocol stack.

[Anonymous No.17249848]

wew

[Anonymous No.17249870]

bearish, call me when chainlink integrates gravelcoin 2.0

[Anonymous No.17249938]

>>17249870
I’m with this anon. Until we see gravel-based smart contracts it’s nothing

[Anonymous No.17250077]

This is one of the biggest announcements to date.

[Anonymous No.17250134]

>>17250077
Checked but what are you talking about anon chainlink is a S C A M

[Anonymous No.17250151]

>>17249739
anyone else feeling sleepy

cornel, the white house, yawn... ari SURELY isn't a high ranking mossad agent zzzzzZZZzzzz

[Anonymous No.17250157]

>>17250077
CHECKED BUT WHO ARE THEY???

[Anonymous No.17250202]

>>17250151
Fuck you sleepnigger

[Anonymous No.17250281]

Isn't off-chain computation what iexec is doing? Are they competitor to iexec? Pls explain for a brainlet

[Anonymous No.17250332]

>>17250202
>>17250151
>>17250281
>>17249938
wtf bros i feel so sleepy better hit the hay
*yawn*

[Anonymous No.17250334]

>>17249739
oh shit get this hahahaha

[Anonymous No.17250528]

Edward Felten:
>In 2004, Scientific American magazine named him to its list of fifty worldwide science and technology leaders.
>In 2015-2017 he served in the White House as Deputy U.S. Chief Technology Officer.
>In 2011-12 he served as the first Chief Technologist at the U.S. Federal Trade Commission
> Sequoia's (voting machines) corporate Web site was hacked. The hack was first discovered by Ed Felten.

going to sleep and you should do the same..

[Anonymous No.17250559]

ARE ANY OF YOU IDIOTS ACTUALLY READING THIS SHIT
CHAINLINK IS ETH 2.0
BUY EVERYTHING YOU FUCKING CAN BEFORE THE PRESS IS SPOONFEEDING YOU

[Anonymous No.17250602]

>>17249759
>hundreds of millions in USD value

[Anonymous No.17250603]

Everyone should read the blogpost in full.

[Anonymous No.17250607]

this fucking board, man

[Anonymous No.17250628]

>>17250607
only the biggest retards are allowed to win lmao

[Anonymous No.17250652]

>>17250607
4chan is truly a god tier think tank.

[Anonymous No.17250677]

>>17250157
They allow solidity to be run off-chain in a secure way. A ton of projects have been waiting for this because a ton of projects have been waiting for this particular solution to scaling.
They decided to use chainlink as a core part of their infrastructure.
tl;dr THE MADMEN SOLVED SCALING WE ARE ALL GOING TO COOOOOM ON THE MOOOOOOOOOON

[Anonymous No.17250694]

>>17250607
>>17250652
ITS
LITERALLY
ALL
FUCKING
TRUE

[Anonymous No.17250696]

>>17250677
How will this increase the value of the link token though?

[Anonymous No.17250704]

>>17249759
>and long-term viability as a standard layer in the web3 protocol stack.

[Anonymous No.17250711]

>>17250628
>only the biggest retards are allowed to win lmao

Think of the people that refused to believe after YEARS of LINK being shilled here.

Chainlink is a very complex/secure network and it makes my head hurt trying to understand some of the things they've created.

Some of the brightest minds in the business are involved. It should have been an absolute no brainer to jump on the train.

[Anonymous No.17250713]

>>17250694
coincidence they released this just before the ari talk? i'm going to sleep..........

[Anonymous No.17250715]

>>17250677
Isn't Enigma doing that same thing or am i wrong?

[Anonymous No.17250721]

We need a total and complete shutdown of /biz/ until our board's representatives can figure out what the hell is going on!

[Anonymous No.17250724]

>>17250677
Checked and based but DELET NOW

[Anonymous No.17250742]

>>17250334
>>17250528
ChainLink is so hot rn that none of this even surprises me anymore

>>17250607
the hive mind strikes again

[Anonymous No.17250750]

>>17250652
the big think tanks dont take us seriously but soon this board is going to get raided by 80 year old members of the global "inteligencia" as they try to figure out how we, as a decentralized shitposting factory, have evolved.

[Anonymous No.17250768]

>>17250750

[Anonymous No.17250810]

>>17250677
Ch-che-cheggedy. thanks for epic response anon

[Anonymous No.17250812]

>>17250713
SERGEY STEVE THOMAS JOHNNY YOU MOTHERFUCKERS DID IT
THANK YOU

[Anonymous No.17250813]

>>17250334
Hahaha what is this timeline

[Anonymous No.17250857]

It's literally vaporware. Eth already has sharding on the way which makes this obsolete.

[Anonymous No.17250878]

>>17250696
Chainlink nodes are basically running solidity contracts by running arbitrum. Arbitrum doesnt have a token so nodes will stake link to back their computation. So the link token will back data and computation. You just win

[Anonymous No.17250922]

>>17250878
...doesn't this mean link tokens have replaced eth tokens?

[Anonymous No.17250945]

>>17250694

[Anonymous No.17250988]

>>17250922
It means they’ve cornered any eventuality. I cannot conceive a narrative, no matter who wins out as dominant SC platform, that won’t utilise Chainlink.

[Anonymous No.17251023]

>>17250988
Checked fren. It’s just a matter of time

[Anonymous No.17251039]

>>17250988
checked. CL monopoly confirmed. Reality and price please hurry up and catch up

[Anonymous No.17251061]

>>17250922
To some degree yes but this still needs ethereum. Ethereum acts as a dispute resolution in case the off chain outcome is disputed. So it should take many tasks that require computation off of ethereum and on to Chainlink nodes running Arbitrum but still use Ethereum as a dispute resolution layer if needed and settlement too if they want like in a stablecoin.

[Anonymous No.17251082]

>>17250988
THIS WAS THE LAST MAJOR HURDLE
NO WONDER YOU FUCKERS WOULD NEVER ANSWER TECHNICAL QUESTIONS ABOUT THIS
SERGEY AND STEVE THIS IS YOUR FUCKING WORLD THE REST OF US JUST LIVE IN IT

[Anonymous No.17251102]

>>17249759
>already securing hundreds of millions in USD value
>4,44$

[Anonymous No.17251245]

So is 1k fud or not?

[Anonymous No.17251282]

Great, another nothingburger blogpost because chainlink doesn't have any noteworthy news to help link rally past its ATH.

[Anonymous No.17251377]

ed felton called chainlink an industry standard today


let that sink in

[Anonymous No.17251408]

>>17251377
>ed felton
literally who

[Anonymous No.17251433]

>>17251377
Checked. Sleepy am I....

[Anonymous No.17251459]

>>17251102
>1.5bn market cap
yeah im thinking this shitcoin is overvalued

[Anonymous No.17251489]

>>17251377
ed felten? where did he say that

[Anonymous No.17251559]

>>17250922
It means chainlink gives value to eth or any chain that has transactions. Link is the middle man to all cryptos.

[Anonymous No.17251626]

>>17251489

ctrl + f ed felten

ctrl + f chainlink

then ctrl + f "standard"


https://medium.com/offchainlabs/scalable-low-cost-computation-of-ethereum-smart-contracts-using-arbitrum-on-the-chainlink-8985c6542d4e

[Anonymous No.17251704]

>>17251559
it never occurred to me that other protocols might use link as collateral. literally shaking.

[Anonymous No.17251809]

>>17250334
holy shit

[Anonymous No.17251997]

>>17251626
ANYONE ELSE JUST FUCKING CELEBRATING
TONIGHT IT WENT FROM IF TO WHEN

[Anonymous No.17252011]

>>17251377
Checked and based

[Anonymous No.17252029]

...wait, does this mean ETH can scale now? Even without sharding?

[Anonymous No.17252043]

>>17252029
FOR ENTERPRISE DIRECTED SMART CONTRACTS YES

[Anonymous No.17252051]

>>17252043
Damn, this news is bigger than I thought.

[Anonymous No.17252388]

>>17252051
ANYBODY
ANYBODY
IS THIS THING ON

[Anonymous No.17252665]

>>17249739
who is that?

[Anonymous No.17252883]

didn't read; not selling

[Anonymous No.17253016]

>>17252883
DUDE
READ

[Anonymous No.17253109]

>>17253016
i refuse. fuck off

[Anonymous No.17253117]

What's this "sleepy" meme people keep using?
Linkmarine for two years, but feeling out of the loop on this one.

[Anonymous No.17253471]

>>17253117
Its just a lame attempt to get you to stop paying attention to something thats actually important
Like delet

[Anonymous No.17253492]

>>17249759
Nofap does not work when keeping up on link news.

[Anonymous No.17253548]

>>17251245
it is the only thing /biz/ will get wrong about LINK. the irony is that the breadcrumbs and confirmations are only a slice of the pie (1k). there's a whole iceberg beneath that ocean and to think biz hasn't gone below the surface yet even though they think they have is a truly rewarding train of thought.

[Anonymous No.17254048]

coom

[Anonymous No.17254199]

>>17253117
It's what disinformation agents (and trolls) say in "conspiracy" threads on places like /x/ and /pol/. "I sure am getting sleepy. It's time to get off of 4chan. We should all go to bed and take a nap."

[Anonymous No.17254239]

>>17250704
this.

[Anonymous No.17254251]

>>17250715
i could be wrong, but i thought enigma was trying to be a private blockchain on its own. and i think they are trying to make it much mpre private than zsnark and other solutions.

[Anonymous No.17254263]

>>17250607
>privaet

[Anonymous No.17254267]

>>17250750
>we

[Anonymous No.17254408]

brainlet here

are they basically saying that people can code smarcontracts and run them within the chainlink node via arbitrum... basically running ether within a chainlink node? which communicates to the real ethereum when needed, onchain.

[Anonymous No.17254445]

>>17254408
Yes. Ethereum would be the last resort arbitrator is a dispute arises

[Anonymous No.17254453]

>>17254445
so chainlink nodes will capture most of the work?

[Anonymous No.17254465]

>>17254408
basically the computation that makes eth unscable will be done off chain which makes it scalable

[Anonymous No.17254478]

>>17250334

My fucking sides

[Anonymous No.17254480]

>>17254465
can you explain for a brainlet here, what type of computations are we talking about? can you give an example

[Anonymous No.17254508]

>Chainlink nodes will be able to add an additional layer of security by staking LINK as collateral to back their computations. These crypto-economic guarantees will allow the system to scale to secure more and more value over time, especially given Chainlink’s unique ability to progressively add additional high quality nodes to secure any specific Arbitrum computation as it grows in value.

[Anonymous No.17254511]

>>17250750
>doubt
Have you seen how glowie /pol/ has gotten? Ive noticed some glowie activity on this board. Also some sort of cicada3301 recruit thread with that cool looking gif, that might even have to do with that 42schizo somehow. Unless that guys just a larping retard like Frank anon5

[Anonymous No.17254514]

>>17253117

Bro I was literally about to post this and shamefully ask what it meant, thanks for jumping on the grenade

I was even gonna preface it with a statement of how long i've been a marine like you did

[Anonymous No.17254530]

>Many industry use cases in the enterprise space, such as insurance, supply chain, and finance, are unfeasible on public blockchains due to a lack of user privacy and slow transaction throughput. Arbitrum can not only replicate the high transaction speeds of traditional non-blockchain infrastructure, but users can benefit from having private, trustless computation of multiparty contracts that avoid information leakage of sensitive data.

jesus

[Anonymous No.17254550]

>>17254480
smart contracts are like programs, they are written in code and have variables that require data input. The ethereum blockchain can verifiably execute these “programs”, but it can’t handle huge amounts of volume. This is a problem eth 2.0 intends to correct, but for now eth can instead serve as a ledger that verifies the results of the computation rather than doing the computation itself

[Anonymous No.17254588]

>>17251377
its getting sleepy here

[Anonymous No.17254591]

>>17254550
ah okay makes sense. thanks fren i appreciate it

[Anonymous No.17254599]

>>17254514
Discord trannies

[Anonymous No.17254722]

>>17254453
Yes. Staking wil back computation and interoperability of data. Not to mention its the highest liquidity ERC20 collateral for DeFi outside of ETH. Scarcity is a mother fucker

[Anonymous No.17254726]

Holy shit you scam artists are fucking pathetic

[Anonymous No.17254812]

We just win.

[Anonymous No.17254880]

>>17254722
thanks fren, cant wait

[Anonymous No.17254889]

>>17250677
Alright I was busy, sorry. Here are my more eloquent thoughts (hoping I get dubs again):
The problem with scaling is a problem of costs. If you want a truly revolutionary smart contract/blockchain product, it's all but inevitably going to require high transaction volumes. High transaction volumes quickly become expensive regardless of the particular blockchain. ETH's proposed current solution is sharding -- fancy sidechains that are less expensive. Arbitrum offers a totally different model.
What Arbitrum does is employ some extremely clever game theoretical methods for moving smart contract computation offchain. They're being humble when they say that it's 'trust-minimized' -- what they've done is allow the majority of the computational logic to get orders of magnitude cheaper while simultaneously maintaining the reliability of a public network like Ethereum. The big point is this:
THEY IMPLEMENTED A SCALING SOLUTION SOMEWHERE BETWEEN SIX MONTHS AND A YEAR BEFORE ANY OTHER SOLUTION EVEN SNIFFS THE ASS OF FEASIBILITY
What does this mean for Chainlink? First: fuck you, what Arbitrum has accomplished is going to change the world and should be respected on its own terms. This is an extraordinarily well-respected team in the space and a lot of folks were waiting for them to roll out to enable a lot of previously cost-prohibitive use cases.
But what does this mean for Chainlink? Instead of developing their own node system, they chose Sergey. We're now the standard solution for one of the (and the only currently functional) scaling solution.
So, again, I say this: we are going to COOOOOM on the MOOOOOOOOOOOOOON

[Anonymous No.17254974]

>>17250922
No. It means that for the same mileage you need 1000x less gas than before. It doesn't make gas obsolete, just more efficient. But it cucks ethereum trading Price . You can choose to buy $1000 worth of gas or $10 of gas with and additive (Link) that gives you 1000x efficiency.

Fundamentally, Link Top 2 coin in the next 3 years if not sooner.

[Anonymous No.17254994]

>>17253117
Lurk Moar

[Anonymous No.17254995]

>>17254408
Yes

[Anonymous No.17255002]

>>17254974
It will actually trump Bitcoin eventually. It has all the ingredients but not in one full swoop

[Anonymous No.17255019]

"Gaming — At present, most of the gaming industry on Ethereum cannot afford to run heavy computational processes on-chain. Games traditionally require thousands of in-game interactions, especially strategy-based games that can generate upwards of one hundred thousand transactions on Ethereum to properly function. Arbitrum allows gaming projects to use Ethereum as a settlement layer, while processing highly complex operations off-chain that retain high levels of transparency and security."

So this is like... the next evolution of the internet. And absolutely everything runs on LINK.

[Anonymous No.17255047]

>>17255019
So chainlink is basically the http of the Web 3.0?

[Anonymous No.17255061]

>>17255002
If we are right , Yes. Link will be the top 1 coin. But I think toppling btc will be a very different beast than beating Eth. At this point we are moving out of the IF territory to the WHEN territory.
And I still cannot fathom how people that know what a smart contract is isn't all in on Chainlink .
And I still can't believe how normalfags live their lives completely unaware of this.
We truly are an odd bunch.

[Anonymous No.17255078]

>>17255019
>>17255047
I love seeing redpilling this beautiful

[Anonymous No.17255214]

We are going to be so fucking rich guys, holy shit.

[Anonymous No.17255275]

>>17255047
It's the https

[Anonymous No.17255380]

>>17254511
If >>17253548 is onto something it means this place is spawning potential billionaires as of now
I wonder how intelligence agencies sees this

[Anonymous No.17255381]

>>17255019
i can't wait to play sc2 on the arbitrum enabled chainlink network

[Anonymous No.17255393]

>>17251459
>>17251997
It was never if, it was only, can you see it :D

[Anonymous No.17255394]

>>17255061
Yes passing bitcoin and even ethereum will definitely be challenging. But getting to top 3 should not. I tend to think we are in the midst of it right now of correcting to where it should be on the top 3

[Anonymous No.17255396]

Does this basically kill off any hope neets running their own nodes? Basically the nodes needs to be trusted to do the computation. It has to be a kyc and CL cleared node to make any kind of return for the job?

[Anonymous No.17255410]

>>17252388
FUCK JANNIES

[Anonymous No.17255419]

>>17255396
What? No that can’t be

[Anonymous No.17255420]

Just a very minor point but not Sergey's language in the annoucement:

>“We’re thrilled to work closely with the extremely accomplished, deeply experienced and highly technical team making Arbitrum, and are excited to work closely together with them on our shared goal of truly advancing smart contracts.

As a starting point, he only makes statements for more important teams (they frequently use Dan Kochis or Johann for literal whos) but I've never seen him quoted like that. Usually he's very "Slavic" in his praise.

[Anonymous No.17255421]

>>17255396
nah, some literal who's will want some cheap oracle jobs run

but the big boys will want kyc'd nodes
can't run real finance through anything run by someone that doesn't have aml and ctf checks
(imagine the node profits were funding terrorism)

[Anonymous No.17255424]

>>17255394
Neet nodes will be necessary but not till theeshold signautes which will allow cheap decentralization. So even if there are a few bad actors, it wont matter. But some tasks might be a little out of reach for neets but deal with it. Life isnt fair and you will be so rich off the token appreciation it wont matter

[Anonymous No.17255459]

>>17255396
NEET nodes are for third world jobs, places that dont have functional governments, so they rely on the chainlink network for governance. You'll make money on volume there.

[Anonymous No.17255470]

>>17255396
the heart of the reputation system will be 100s of security audited nodes composed of the current sort in addition to nodes run by fortune 1000 tech companies (who will not intentionally cheat because it would damage their real life reputation irreparably, and between whom collusion is unlikely because of the magnitude of such a collusion), they will serve data on and off chain and establish the initial truth, neet nodes will have to work for free or post an abnormally large stake at the start until they establish a good track record of following the initial truth, beyond some arbitrary threshold of successfully fulfilled SLAs they will earn the right to be paid for their services and they will now be contributors to the initial truth

[Anonymous No.17255481]

>>17255470
Is that Coca Cola man on the left?

[Anonymous No.17255561]

Holy fuck boys, we're really gonna make it. I'm so fucking excited. Off to take a nap now though...

[Anonymous No.17255616]

>>17254550
> but for now eth can instead serve as a ledger that verifies the results of the computation rather than doing the computation itself

So, once Eth 2.0 comes out then this partnership is meaningless?

[Anonymous No.17255637]

>>17255616
No. Anyone thinking eth 2.0 will scale to meet demanding applications doesn't know what they are talking about. Eth 2.0 will scale in the settlement layer and become the defacto standard there. But the computation layer will be swallowed by chainlink

[Anonymous No.17255642]

>>17255616
I forgot what I was reading earlier today but you can bet a guy that was cto at the White House is not working on a project that’ll be invalidated in a year or two >>17255616

[Anonymous No.17255672]

>>17255637
tfw you will never again experience the euphoria of the town crier announcement

[Anonymous No.17255695]

>>17255470
He's lost a lot of weight

[Anonymous No.17255727]

>>17250334
lol at him and all the link hating faggots. shows you really how low iq and egotistic these crypto 'leaders' really are.

[Anonymous No.17255789]

>>17255637

Arie chat got that much more interesting

[Anonymous No.17255852]

>>17255380
Just imagining how in 5 years boomer think tanks read every link-related Board and desperately trying to decipher the meaning of all the memes makes me laugh
>flush
>Jason parser & Chad O'Forke
>nail salon
>coffee standard
>big mac
>assblaster
>sergey's dad

[Anonymous No.17256050]

>>17249759
>>17249739

[Anonymous No.17256110]

>>17255852
I've never seen an ID form a whole sentence basically

[Anonymous No.17256254]

A hundred linkies was a make it stack all along...

[Anonymous No.17256270]

>>17256254
Maybe in a couple more years this will be the case.