Explain chainlink to me as if I had an IQ of 70

Explain chainlink to me as if I had an IQ of 70

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Let's be honest with ourselves you do have IQ of 70.

Scam

The narwhal bacons at midnight

it solves the lambo problem

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>it solves the lambo problem
Yes, but not for you.

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pnd

Waste of money to help Sergay make money

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Chainlink technical concept is the idea that people would rather trust random chinese miners and north korea to tell the truth rather than real world-companies that could be sued for the damage they caused by lying.

Chainlink investment concept is the idea that people are at the summit of mount stupid in dunning-kruger knowledge about oracles and blockchain will buy into it, making it a good potential pump and dump ride if you are purely after making money.

>Is chainlink gonna be seriously used by big players, ever ?
No. It doesn't solve any problem that are not better solved by trusted third parties with skin in the game (e.g : how SSL/Https works).

>Shall I buy Chainlink
Why not, if you think you can time the exit.

I am a racist and I hold Chainlink. And I know I'm not the only one. I first heard of this smartcontract middleware project when posting in Stormfront. We were brain-STORMING (pun intended) some ideas that we nazis could use to undermine women and minorities and some intelligent user brought up investing in the project and became the most upvoted idea. What does Chainlink have to do, at all, with opressing women and minorities you may ask? Well, I will explain to you in a way even a pathetic, weak and stupid female would understand, so you better be grateful here:

Because of the inefficiency of modern day contract enforcement, dominated by slow and inefficient government owned courts, in the last decades modern society has seen a huge explosion in the number of people employed as white collar workers. The stereotypes about white collar workers, all of them, are absolutely true. They are lazy pieces of shit, doing non-essential make-work while browsing their phones, maybe doing an hour or two at most or real work in the entire day. This is the context in which women entered the "work"force in masse. Women can't do real jobs. Well, maybe 10% can do something useful, but most of you only strut around in air conditioned offices like you're the hottest shit in the world, while men still do 95% of the work.

So... what is going to happen to all that unnecessary administrative bloat? Thanks to our man Sergey Nazarov the days of you paper pushers, lawyers and other parasites are numbered. Within a decade all these jobs will almost be gone. Smart contracts will make all of you go back into the kitchen, where you should have always been because there won't be a Jew megacorp willing to waste its money in hiring you when NEET nodes will do it for a fraction of the price.

Chainlink, the currency for a bright future where women will be oppressed and niggers curb stomped into extermination!

HEIL FUCKING HITLER
LONG LIVE SERGEY NAZAROV THE LEADER OF OUR REVOLUTION

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Number go up !

>cube
>hexagon
>(((ari)))
Link is incredibly jewish, possibly even a trick

You buy the coin and the price goes up because we meme about it and other people buy the coin and some fat Russian and his occult-obsessed friend fuck Asian hookers and work on the codebase very slowly.

this desu

>as if

Blockchains = laptop
Smart contracts = programs on that laptop.

Right now that laptop does not have wifi or ethernet access. It can do stuff, but it can potentially do so much more if it had access to external data. Chainlink is the ethernet cable/router that will bring in external data which in turn makes the laptop useful.

If it's successful it will automate entire industries and you'll be rich enough to suck all the dick you could want.

Link is the jew coin of choice you mongloid. Once again pol proves to be THE dumbest board

shiny things are shiny.

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hello retard, don't worry, i'm here to help, i don't know why i feel pity for brainlets, and I really like and enjoy to help them, as w've all known for a while only 125+ IQ and sub 80 IQ are true chainlink believers, so you fit the profile quite well.

first of all the name CHAINLINK, is composed of two parts, CHAIN wich refers to the blockchain and LINK that refers to the link that the technology will create between the blockchains.

second, chainlink is what we call a middleware, sergey used to call it that, to make it easy to understand, a middleware is basically a software that sits in the middle of two systems, and allows them to communicate.

let's say you have BLOCKCHAIN-A and BLOCKCHAIN-B, well chainlink will sit between these two blockchains and allow them to communicate, without knowing each other, all these blockchains need to do is communicate with chainlink, kinda like when you want to know what's the weather, and you ask alexa, that will fetch the data for you over the internet, you're too lazy to search google, so you ask alexa, chainlink is the alexa of blockchains, not only does chainlink allow blockchains to communicate between them, but also just like with alexa, allows them to getb data from the internet.

BUT chainlink does more than alexa, let's see exactly inside the chainlink middleware now, why is it unique and why do we love it so much?

the chainlink middleware is in reality, a network, it's not just a piece of software or an iot device like alexa, WHAT? ITS A NETWORK? HOW CAN YOU QUERY A NETWORK? woahh calm your tits little brainlet, let me explain, the chainlink middleware is a network of nodes, where each node is basically a computer owned by an independent (or not) entity, I insist on the fact that a node is a computer, because, nodes can do much much more things than simply fetching data, by answering a request done by a blockchain. continued....

let's take an easy example , imagine that a blockchain wants to fetch the temperature in new york.

how can the blockchain know the temperature in new york you may ask? it's just impossible? the blockchain cannot access the internet because its an independent closed system.
well, that's the whole point of chainlink, chainlink will go fetch the temperature in new york for the blockchain, and will create a transaction on chain, with extra data saying what the temperature is.

how it really works(over-simplified) is:
Step 1 : the blockchain first creates a transaction in itself, asking WHAT IS THE TEMPERATURE IN NEWYORK?

Step 2 : a chainlink node operator will see this transaction and will basically query a weather app, or whetever and fetch the temperature, then he creates a transaction on the blockchain with some extra data that says : THE TEMPERATURE IN NEW YORK IS 30°C

Step 3: the blockchain will see the node operator transaction, and will do whatever it pleases with this information.

okay, I over simplified all this just so you understand the process, basically node operators in the chainlink network, wait for orders emitted by the blockchain, and will process those orders, and then put the result on the blockchain, by writing a transaction onchain.

the uniqueness of chainlink, is that each node operator is independant, and in reality, the blockchain doesn't query 1 node, but multiple nodes, sergey basically says that the more nodes you query the more security you have, because you make sure that the result you get won't be manipulated.
continued...

Underrated kek
You need to post more lad, swear you’re the best poster in this eternal hellscape

in reality when a blockchain queries the weather, it doesn't just ask 1 node, it usually asks 20 nodes if not 100 nodes, then it either averages the results, or finds the median. and any nodes that answerd too far from the median for example, they will be punished. because node operators in order to answer to queries by the blockchain, they need to put chainlink token as collateral to have skin in the game, so if a node tries to game the system, or doesn't reply like the other nodes, it gets punished.

it makes sure the node operators are honest when they answer a query by the blockchain.
also in the white paper, it is written that there will be a reputation system where each node operator can register, and give info about himself, KYC, infrastructure, social info...and the reputation system will basically give a score to each node and will also monitor the node on chain, so whenever it does a mistake it's score gets wrecked, kinda like AirBnb, each room has a rating.
node operators will also be rated, and whenever a blockchain queries the chainlink network, it will filter out the nodes with bad rep.

right now we still don't have reputation and stacking, they are still in developpement, and sergey is basically bootstrapping the network with only trusted node operators, that are basically oracle providers like oraclize.

basically right now chainlink is composed of multiple oracle providers that known in the business and are legit.

but they can't cheat because for each price feed chainlink offers there are like 20 nodes each being an independent entity.

the network will be open to public when chainlink current network proves that it works flawlessly, and that it becomes the standard in the space. only then we will see neet nodes,(nodes ran by bizraelis)

>Jew megacorp hire useless lazy women as office ornaments
>any work of value is completed by white men
>chainlink replaces the need for work
>white men get fired, ornamental women more valuable than ever

Well done, you played yourself.
>implying your post wasn't just kike nonsense, designed to suck Nazis into buying Link, a Jewish scam

This

I love this place sometimes.

what I explained is pee pee poo poo tier, chainlink does much much more than simply fetching data.

a chainlink node can be seen also as an AGENT of the blockchain, a node can not only fetch data from the internet, but also process data, or interact with other systems in the name of the blockchain. for example a chainlink node could be a trading bot that will sell and buy for you, and you basically just pay a monthly fee to the smart contract.

it could be a shopping bot that will buy stuff for you online anonymously.
it could be an AI, that recieves orders.
it could be trading bot, that could allow you to exchange digital goods with anyone.
it could be a self driving taxi that could drive you around town...
chainlink nodes can be anything, and that's the magic of chainlink, and to tell you the truth, most LINKERS even don't even understand or know.
most linkers think that chainlink is just an oracle or basically API adapters, that just fetch data from APIs, when in reality chainlink nodes can be much much muuuuccchhh more, and ari juels have been insisting on this for a long time, thats why he speaks of assassination conbtracts and flight ticket booking or steam games exchange...


that's why I insisted in the beggining that nodes are computers, they can be ANYTHING

You just convinced me to buy in! 1488

You can't just cuck the working organization like that

Appreciate the intro user

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Here's what I don't get. When I ask the oracle to check the weather for me, I would have to send it a query that is either highly abstract ("I want to know if it is raining in New York, find out however you can") or very concrete ("call the web service at url wserv.com/ny with these parameters"). If it is the latter, then it seems you could just call the target url yourself about as easily from your smart contract platform (if it can call your oracle network). If it is the former, well that is quite some cookie, where there has to be a highly formalized query language, ontologies, visible and verifiable algorithms for transforming abstract queries into concrete execution plans, etc etc...in short, Wolfram Alpha on (even more) steroids. The middleman that acting as a proxy for calling a web service I think chainlink could easily do, of course, but I don't see much need. The Wolfram Alpha scenario, I doubt they can pull off. What is the actual, real, third alternative that I'm completely missing?

kys

Fuck off Redditor tryhard