ChainLink is opening

Did someone say Chainlink??

Not sure what this thread means

I have a lot of it, what is opening?

Is this a shill attempt? Pretty sure they're still working on main net.

I would just like to know if there is anything I will need to do with it once it goes to the mainnet or whatever it is. Right now i just have it in binance and have no clue what actions will need to be taken on it in the future.

How about a cliff notes version of Chainlink for those not in it yet.

Analysis of Chainlink

quote:

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The Chainlink network provides reliable tamper-proof inputs and outputs for complex smart contracts on any blockchain

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Basically Chainlink network allows for external data to be brought into smart contracts. Right now a smart contract is basically i do this you do that (send eth to contract address and tokens are sent back) With Chainlink the sky is the limit on smart contracts. The thing about Chainlink is the network is decetralized which is the whole point of blockchain technology. Multiple nodes validate the data apis and this data can be used. Smartcontract owners select chainlink nodes and pay for their data in link tokens. The node also puts up their link tokens as collateral to ensure they are providing correct data. There are other oracles (data providers) out there but they all exist as a central point of failure. The oracle fricks up the whole contract is shite.

The rabbit hole of speculated connections that chainlink has is astounding. From Swift, Salesforce, Microsoft, Docusign, Tesla the use cases for Chainlink are endless and eliminate thousands of shite coins in the space and most shitcoins cant do what they claim without the use of chainlink.

Lately Link has been pumping based on its involvement with The Accord Project and news of a https://medium.com/@OpenLawOfficial/openlaw-teams-with-chainlink-to-bring-real-world-info-to-smart-contracts-4e7a3dac80a8. Sergey was on a panel a few months ago at SXSW presenting on how smartcontracts will get rid of lawyers. He has also presented at SIBOS and did a proof of concept with SWIFT dealing with automated bond payments.

The lore of chainlink right now is seen on biz. Yes the place is a cesspool but these guys do some serious research. From the top execs that can be linked to chainlink based on who they are following on twitter shows that this is a massive project. Many think that this was never supposed to fall into anyone hands other than the financial elite. Binance listed this token when binance was thought to be a chinese scam last october. Presale was ridiculous minimums that were met instantly and ico sold out in minutes. The supply is one billion which 350,000,000 has been sold, 350,000,000 is kept by the team, and 350,000,000 is to be used to incentive node operators and build the network.

this timeline shows what has happened since ico


basically if smartcontracts are to succeed they will need the chainlink network and use of decentralized oracles.

this team is the most antihype team in crypto and have shown that their product will speak for itself.

will the predicted $1000 end of year price happen, probably not. but this will be a top 5 crypto and has plenty of room for growth and gain passive income when all the pieces come together.