Chainlink (LINK) - Oracle/middleware that connects smart contracts to external world

NewMeta

Kingfisher
Julio said:
For me it went like this:

- I prepared MEW so I just had to copy-paste the address
- I had the link of the email open on another tab and refreshing it at 15:00 UTC
- The address didn't show up so I kept refreshing, but every time I hit F5 I needed to tick 2 boxes saying I agreed with the terms of the ICO and wait a few seconds to arrive to the final page with the address (that's why I said 10 seconds)
- I saw the address, copy paste in MEW and generate transaction (Using 200k as gas value)

So maybe I could be quicker by 5-10 seconds but then it's really a tough race.

200k is the gas limit, gas value is in Gwei and is in the top right corner of the MEW page.
 

Ray Carlton

Robin
Gold Member
How do you actually know that you get in?

There is some discussion going on https://www.reddit.com/r/ethereum/comments/713y2a/potential_chainlink_ico_deception_chainlink/

The moment the clock struck crowd sale commencement (15:00 UTC), the ChainLink site stated $29 Million had been raised. (There's screenshot evidence)

Note: the contribution limit per account was 7 ETH each.

Apparently, ChainLink failed to disclose that there was $29 Million sold during the 'Pre-Sale'. Chainlink seems to have now decided to deduct this figure from the explicit $32 Million 'Crowdsale'.

As per the the ChainLink website:

"The Crowdsale is Capped at $32,000,000". "Sept. 19th - Crowdsale Begins".

https://link.smartcontract.com/

It seems thousands of Ethereum proponents wasted time, gas, and opportunity cost.

The mislead ICO participants' transactions were not auto-returned - now likely inaccessible for days/weeks until returned.

If this is the case: The ChainLink team chose to be intentionally unethical.


I was able to send my ETH, however it seems people were able to send their ETH and still got not in.

So, have you actually already received an official e-mail or your tokens?
 

NewMeta

Kingfisher
Ray Carlton said:
How do you actually know that you get in?

I was able to send my ETH, however it seems people were able to send their ETH and still got not in.

So, have you actually already received an official e-mail or your tokens?

Most communication for this project is done via its slack channel and even then communication is pretty minimal, they posted the final block in their announcements tab which i will now paste for your convenience:

"Hi Everyone, thanks for your patience as we wrap up the final stages of the token sale. The LINK token has now been released to our token sale participants, which is everyone who sent to their unique crowdsale address up to block 4291478. For those that weren’t able to be included in our token sale, we will be sending you back the ETH amount you sent during today and by Thursday at the latest. Our entire team does very much appreciate your support of our work and the ChainLink Network, thank you."
 

Ray Carlton

Robin
Gold Member
NewMeta said:
Ray Carlton said:
How do you actually know that you get in?

I was able to send my ETH, however it seems people were able to send their ETH and still got not in.

So, have you actually already received an official e-mail or your tokens?

Most communication for this project is done via its slack channel and even then communication is pretty minimal, they posted the final block in their announcements tab which i will now paste for your convenience:

"Hi Everyone, thanks for your patience as we wrap up the final stages of the token sale. The LINK token has now been released to our token sale participants, which is everyone who sent to their unique crowdsale address up to block 4291478. For those that weren’t able to be included in our token sale, we will be sending you back the ETH amount you sent during today and by Thursday at the latest. Our entire team does very much appreciate your support of our work and the ChainLink Network, thank you."

Thanks, I got actually in on that block :)
 

Olav

Sparrow
Gold Member
Did anyone here receive their tokens yet? They haven't sent instructions on how to add the ERC20 Token of LINK to your Ether Wallet.

Edit: Their support finally got back to me after 36 hours.
 

NewMeta

Kingfisher
Olav said:
Did anyone here receive their tokens yet? They haven't sent instructions on how to add the ERC20 Token of LINK to your Ether Wallet.

Edit: Their support finally got back to me after 36 hours.

You shouldnt need to go through support for this stuff, MEW has a add a custom token option for tokens that they do not list.

You might find google is faster than waiting 36 hours for support ;)
 

CleanSlate

Hummingbird
Gold Member
the-dream said:
Stupid question but how can I actually access my tokens?

You need to add a custom token in your MEW.

Click 'add custom token' on the right hand side, and you'll see three fields:

- address
- name
- decimals

In the case of Chainlink, you need to find its token address and copy into that field.

Type in LINK for name, and 18 for decimals.

Hope this helps. I had to do the same but it worked.
 

the-dream

Kingfisher
CleanSlate said:
the-dream said:
Stupid question but how can I actually access my tokens?

You need to add a custom token in your MEW.

Click 'add custom token' on the right hand side, and you'll see three fields:

- address
- name
- decimals

In the case of Chainlink, you need to find its token address and copy into that field.

Type in LINK for name, and 18 for decimals.

Hope this helps. I had to do the same but it worked.

Thank you, I've got it :)
 
Blockchain startup ChainLink has pulled in $32 million through its presale and initial coin offering, which closed yesterday. The company provides middleware to enable “smart contracts” running on a blockchain to access external data.

Smart contracts, or self-executing contracts, are one of the exciting promises of blockchain tech. They allow businesses and individuals to set service-level agreements with each other.

For example, imagine if airlines started offering smart contracts that would automatically refund 20 percent of your ticket fare if your flight misses its departure time by more than an hour. Or imagine if medical shipments to pharmacies were automatically halted and returned to the manufacturer if the shipping temperature exceeded a contracted limit.

As Coin Sciences’ Gideon Greenspan explains, these kinds of pie-in-the-sky use cases for blockchain have been unrealistic to date, since blockchains haven’t been able to reliably access a wide range of external data. But ChainLink plans to change that. It offers contract makers a whole network of “oracles,” or trusted external data sources, to choose from. With ChainLink, you can have a contract query one or several different oracles to check, say, flight departure times.

“When you type ‘interest rates’ into the ChainLink search bar, you’ll get a list of some 50 data feeds to choose from,” explained CEO Sergey Nazarov. “You copy and paste [from that data feed page on ChainLink] what your contract needs to do and copy that into your contract.” The developers who connect APIs to ChainLink are compensated with ChainLink’s LINK token each time someone uses their feed by the contracts that are requesting data from those feeds.

The company has had about 3,700 emails from developers interested in running a ChainLink, Nazarov said.

ChainLink is being built by the team at 3.5 year-old company SmartContract, based in San Francisco, which does custom enterprise smart contract rollouts. So far SmartContract’s biggest client has been inter-bank transaction network SWIFT, which has 11,000 banks in its network.

But one-off rollouts take time, require a hand-tailored API, and are, in effect, hard-wired to the chosen oracle; they don’t give you the flexibility of deciding how many data sources to query.

ChainLink will bring smart contract capabillites to anyone with high security and a lot more choice.

Without ChainLink’s network, Nazarov said, a company wanting to deploy a smart contract able to interact with an external data feed needs to develop an API for that data feed and then go to one of the few middleware providers working in this space who then wrap the necessary rules and calls into the smart contract. The application developer doesn’t get much flexibility in deciding how many of the blockchain’s nodes should query the data feed or how many data sources to query. Security is also a big concern. “If we’re transacting billions of dollars on these systems, we need them to be secure end-to-end,” said Nazarov. Having a decentralized system make a call to a single data source in order to execute a multimillion dollar contract could leave the system open to manipulation.

The coming generation of open-source oracles will come with more options and more security. Developers will be able to have their smart contracts query multiple disparate data feeds from many different nodes, cross-check them for consistency, possibly averaging the various inputs to reduce the chance of error.

ChainLink’s capabilties aren’t ready for rollout yet — the company is still working on its network — but the fresh fundraise should help move that work along.

Even after the company’s oracle network is rolled out, it could take five or so years to reach maturity, Nazarov explained. The biggest data providers realize this new model could be good business for them, but they’re not willing to take the jump until they see a decent volume of smart contracts in play. So we’ll likely see smaller and mid-sized data providers move in first, with the rest following later. And the pace at which key data feeds become available will, to a certain extent, dictate how quickly the whole ecosystem is able to develop.

https://www.cahfindit.com/news/1528219181
 

Julio

Woodpecker
Gold Member
So for the lucky ones who managed to get some tokens during the ICO, when do you plan selling them? I can see on EtherDelta that the price hasn't doubled yet. How far up do you think it can go?
 
I would recommend waiting until the SIBOS conference in mid October. It is likely the hype from SWIFT will be priced into LINK before the conference and probably afterwards too. It really depends how promising the news is. Some are predicting LINK price to be around $0.40-$0.50 before SIBOS.
 

thebassist

Kingfisher
Gold Member
Julio said:
So for the lucky ones who managed to get some tokens during the ICO, when do you plan selling them? I can see on EtherDelta that the price hasn't doubled yet. How far up do you think it can go?

I'm looking to parlay some of my LINK gains into the Request ICO. Unfortunately the ICO is on the 13th (SIBOS starts on the 16th) so I hope I'll be able to catch the pre-conference boost as much as possible.

By that time it should be hitting larger, more popular exchanges so I'm hoping for a 4x (marketcap of $130 million or so) by then.

Wouldn't sell off more than 25% that early on, a maximum of 50% eventually, but there are plenty of reasons why it would definitely be smart to keep holding on to LINK as the project progresses. Honestly I wouldn't be surprised to see this token in the top 20 by the end of the year.
 

void

Pelican
https://www.sibos.com/exhibition/about-exhibition/exhibitors/sap-se
As ChainLink promises SAP integration and compability, SAP seems to have built a module for blockchain interaction already. Called SAP Leonardo.
If they pull off a serious development process, this would enable b2b payments to SAP software of companies that don't have SAP. But "ripple" might enable this already.

I should have waited with buying in. People flip it for gains right now.

Will it rise beyond 100 mio. market cap? I hope.
 
I invested a couple grand in ChainLink. The company is definitely solid and there is use cases for it definitely. How long until it is highly adapted? Probably will take a couple years when blockchain is main stream. But this is definitely needed. Good luck to the team and hopefully they deliver.
 
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