Chainlink Crypto – The Key To Smart Contracts & Upcoming Mainnet on Ethereum

 

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Chainlink is going live soon as the mainnet launches on Ethereum, but what has Chainlink been up to and why do it matter?

Disclosure: This is an unpaid review for a project that was deemed worthy of research time, recording and posting for educational purposes. Furthermore, I currently have not invested in this project, but may consider doing so in the future.

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Chainlink Crypto – The Key To Smart Contracts & Upcoming Mainnet on Ethereum

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28 comments

  1. Everyone like this guy he’s the only one that reply’s to msgs others don’t he takes time for us that’s a quality youtuber.

  2. Excellent, Lark. I am happy that you have presented an update on Chainlink, in the near future we will all see the true wealth of LINK, the accumulation of LINK is a must, in my humble opinion.

  3. Great video mate! It was a pleasure meeting you and talking to you about Chainlink in Sydney the other week. Good to see that you’re back into it.

  4. One of the suggested videos on the right “What is Bitquence? Should you invest?” – The Crypto Lark. 😀

  5. Another great video Lark—thank you. Longtime Chainlink fan and LINK holder .. I think they’ll linkely be seen as a cornerstone of the DLT economy in the future. I’d also be curious to hear your thoughts on Enigma if you get the chance (developer beta of Discovery just launched). And most importantly … thanks for pronouncing “data” right—truly a scholar, and a gentleman 🙂

  6. This appears to be really really useful. It’s sometimes hard to discover what problems some projects are trying to solve but with Chainlink the it’s crystal clear. I wonder if it’s worth running a node?

  7. Enigma is on the list for a future update, but it is not at the top of that list 😉

  8. The tokenomics of the LINK token.

    1. Chainlink nodes will be paid in LINK tokens only. There will be conversion tools for people that want to use fiat but will be converted to LINK. at the end of the day only LINK tokens can power the network since the nature of ERC-677 token, built specifically for LINK, is to transfer data.

    2. LINK tokens are used as collateral value. Smartcontracts will use Chainlink nodes that carry a % value of LINK to the value of the Smartcontract. So yes, you can start a node without LINK but no one will use it. High value smartcontracts or any contract that has value will use nodes that carry the same or a % of value of LINK.

    3. Decentralized networks that are home to smartcontracts will need decentralized data to execute. Chainlink is currently the only option. Thats why you will see everyone in this space partner with Chainlink

    Smart contract creators will demand a certain level of reputation or amount of collateral, to be paid in LINK tokens, that suits the value of their smart contract. A $1million bond would require a lot more collateral, than, say a smart contract dealing with $100. You wouldn’t select the low rep/low collateral available nodes for something like a huge bond. Chainlink is actually targeting these high value contracts. Sergey has discussed at length why high value contracts in the financial world require a decentralized oracle: it puts all the risk onto the oracle rather than the smart contract creator. The smart contract creator doesn’t risk losing money – the node operators do. The Chainlink network is genius like that.

    There is infinite amount of collateral available because the token price can rise to meet it.

    Now you have to research how large ALL these markets are. derivatives, insurance etc… hint: Trillions.

  9. Ego system? 😀
    I believe you are right, I wont be rushing to buy it….

  10. Wow amazing explanation that was really good Lark! I think you can be a cryptocurrency teacher at uni man! Thanks so much!

  11. Thanks for the advice Finn, it’s one hell of an investment! So glad I bought some.

  12. Lark always comes at projects from such logical stances. You’re the man brotha, hope we can grab a beer when I’m out in New Zealand 🤙🏽

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