Link adapters explained

[Anonymous No.5177461]

Pay attention faggots.

This article basically explains how you can make node money off even the most private bank data there is:
https://medium.com/@cl_thodges/chainlink-external-adapters-e9f99cd6cb62

[Anonymous No.5177509]

Not only by handling the data itself (indirectly), but also more downstream, like confirming shit further downstream.

[Anonymous No.5177546]

>>5177509
>downstream downstream

Just woke up.

[Anonymous No.5177772]

And that's without mentioning the fact that in 2018 the banks are going to have to open up (most of) their internal APIs to the public anyway.

https://www.evry.com/en/news/articles/psd2-the-directive-that-will-change-banking-as-we-know-it/

[Anonymous No.5178038]

>>5177461

Do we have any idea how much money is the average smart contract going to be paying each node operator or how many nodes the typical smart contract will be written to have to get confirmation from?

[Anonymous No.5178092]

>>5178038
>Do we have any idea how much money is the average smart contract going to be paying each node operator
The Chainlink network is going to be a free marketplace, so I'd assume there's going to be a price setting period.
Either that or a standard fee will be set from above, or agreed by some kind of consensus.

>how many nodes the typical smart contract will be written to have to get confirmation from?
Not sure if I got your question, but I'm pretty sure I wouldn't know the answer.

[Anonymous No.5178159]

>>5177461

Thanks, anon, the technical side of ChainLink is so interesting.

[Anonymous No.5178198]

tell me more about blue cube

[Anonymous No.5178260]

>>5177461
it's nice to see some actual useful info on chainlink here. 99% of the threads are filled with the same bullshit:

>goes up: "this is going straight to $50! get in before it's too late"
>goes down: "haha, poopie coin! sergey died of big mac overdose, lolllllll XDD"

[Anonymous No.5178424]

>>5178260

If you haven't read about ZeppelinOS yet, do yourself a favour.

https://zeppelinos.org/

[Anonymous No.5178484]

>>5178260
Chainlink is extremely impressive in literally every aspect except hype.
That's very good for us early hodlers.

[Anonymous No.5178513]

thanks to chainlink, DEXs will be able to do fiat exchange! had the epiphany in my car today.

cya coinbase

[Anonymous No.5178567]

Op is Sergey
Tomorrow were having our ann

[Anonymous No.5178595]

>>5178092
What I'm not able to wrap my head around is the decentralisation aspect of ChainLink.
Where is the improvement, if - in the last example - the external resource is one single point (Step D-E)?
Why should it be useful, if multiple Nodes pass the (same) Snapshot Data to external Nodes (F-G)?

[Anonymous No.5178612]

>>5178513
Yes. I think a lot of Chainlink users will never even know they just paid someone in Link. They'll just send the fee in USD to a smart contract that converts it to Link.
A transaction that will also be processed through Chainlink.

Mainstream smart contracts are so huge that trying to imagine the implications is like trying to look into the 4th dimension.

[Anonymous No.5178898]

>>5178595
It says in the caption on top of that diagram that this is for "internal processing".
The advantage of decentralization in this case is simply data input validation by other nodes. And of course other validations occurring more downstream, like the generated on-chain events etc.
The main advantage here lies in the banks being able to connect to their internal APIs and even their own internal blockchain (like Hyperleger), so they don't have to change anything. They just plug into Chainlink and are good to go.

And even if the bank would prefer the entire process to remain internal, without any validation by external nodes; I think it would still be much more useful for them to be using Chainlink anyway; since it'll be much more reputable and robust (and cheaper) than any oracles they develop in-house.
Plus, it wouldn't make much sense to use 100% in-house oracles for internal processes, and then Chainlink for more complex transactions.

That's how I'm seeing it anyway. Feel free to poke holes, I'm here to learn.

[Anonymous No.5179167]

>>5178595
>>5178898
Also, I think the Sibos use case was such an internal process, or more precisely a collection of such internal processes (and a few non-internal ones, like those interest rates perhaps).
But as you can see, even if all of the individual processes that make up pic related were 100% internal; you can see that there are a number of different parties involved. So if everyone were using their own internal oracles, nobody would have much reason to trust the other parties' oracles.

[Anonymous No.5179496]

Also guys, remember Chainlink is one of the only crypto thats value is always backed by memes of equal value.