Chainlink’s tech is invaluable but what does the coin offer me? Governance? Or just number go up? If it’s the latter, that’s fine, I’m just trying to see why most people hold it?
It's going to be a universal gas token. That means anytime someone uses it for anything, it will transfer whatever coin/currency you use on the back end into Link to pay for the service you're using. The coin has a max cap of 1billion and will need coins staked for the ecosystem to work which will limit the amount of coins people can buy and sell further driving up value as they grow.
@@Coolguyallthetime2k No, I'm not sure, but it has announced by multiple sources. Also I groked it and here's its answer: As Chainlink services go live, they are primarily paid for using the LINK token. Here's how the payment mechanism works based on available information: Direct Payment in LINK: Users or applications that require Chainlink's oracle services pay in LINK tokens. This is because LINK is the native token of the Chainlink network and acts as the standard form of payment for accessing Chainlink services across various blockchains. Node operators in the Chainlink network are rewarded in LINK for providing reliable data to smart contracts.   Payment Abstraction: There's ongoing development towards a payment abstraction layer which would allow users to pay for oracle services using various cryptocurrencies, not just LINK. This system would convert these payments into LINK, making it easier for users to interact with Chainlink services without necessarily holding LINK. This abstraction aims to increase accessibility and reduce friction for users by allowing payments in assets they already hold.   Staking and Service Fees: With the introduction of Chainlink Staking, part of the fees collected from users for oracle services might also be distributed to LINK stakers, further incentivizing the security and participation in the network. This indicates a model where the operational costs of running nodes are partially offset by staking rewards alongside direct service fees.   Future Enhancements: Chainlink has shown intentions to evolve its economic model, including better monetization strategies and possibly integrating more complex billing systems that could support payments in other forms, potentially even through traditional payment methods like credit cards in the future, although this is still in conceptual stages.  This payment structure ensures that as Chainlink services expand, they retain an economic model that supports the sustainability of the network while also adapting to broader user needs for payment flexibility.
11:28 this guy really said the US is gonna buy Canada… guy has no understanding geopolitical relations or politics in general 😅 as if a country can just buy another one
Their innovative approach to decentralized networks is intriguing, and their dedication to community-driven development sets them apart in an exciting way.
It was shit till Gary gensler announced he would be resigning. That’s called a shift. If Gary was staying xrp would still pressed down at there lows facing law suits. Now maybe you might understand that you base your option on what the market gives you. And you shift as the markets shit.
Very well put James. Im not a fan of xrp however, now it serves a purpose for me as a link holder. Don't hate the player, hate the game. Its all a game at theend of they day @JamesTaylor-lg2hz
@@JamesTaylor-lg2hzwrong, but nice rebuttal grab. Don't worry, We have room for you guys that doubted. Plus when this goes to Moon they're going to need an interview some people who were talking crap from the beginning like such. 🎤
Chainlink’s tech is invaluable but what does the coin offer me? Governance? Or just number go up? If it’s the latter, that’s fine, I’m just trying to see why most people hold it?
It's going to be a universal gas token. That means anytime someone uses it for anything, it will transfer whatever coin/currency you use on the back end into Link to pay for the service you're using.
The coin has a max cap of 1billion and will need coins staked for the ecosystem to work which will limit the amount of coins people can buy and sell further driving up value as they grow.
Chainlink services will be paid for in $LINK as they transition from trials to live products.
@@hunter-eo4qz ok, cool! I was told they would use Eth as gas and not Link… that’s why I was so confused. Are you sure the LINK would be required?
@@topspn are you sure it’s not paid in ETH?
@@Coolguyallthetime2k No, I'm not sure, but it has announced by multiple sources. Also I groked it and here's its answer:
As Chainlink services go live, they are primarily paid for using the LINK token. Here's how the payment mechanism works based on available information:
Direct Payment in LINK: Users or applications that require Chainlink's oracle services pay in LINK tokens. This is because LINK is the native token of the Chainlink network and acts as the standard form of payment for accessing Chainlink services across various blockchains. Node operators in the Chainlink network are rewarded in LINK for providing reliable data to smart contracts.


Payment Abstraction: There's ongoing development towards a payment abstraction layer which would allow users to pay for oracle services using various cryptocurrencies, not just LINK. This system would convert these payments into LINK, making it easier for users to interact with Chainlink services without necessarily holding LINK. This abstraction aims to increase accessibility and reduce friction for users by allowing payments in assets they already hold.


Staking and Service Fees: With the introduction of Chainlink Staking, part of the fees collected from users for oracle services might also be distributed to LINK stakers, further incentivizing the security and participation in the network. This indicates a model where the operational costs of running nodes are partially offset by staking rewards alongside direct service fees.


Future Enhancements: Chainlink has shown intentions to evolve its economic model, including better monetization strategies and possibly integrating more complex billing systems that could support payments in other forms, potentially even through traditional payment methods like credit cards in the future, although this is still in conceptual stages.

This payment structure ensures that as Chainlink services expand, they retain an economic model that supports the sustainability of the network while also adapting to broader user needs for payment flexibility.
XRP & LINK 👌👍💪
11:28 this guy really said the US is gonna buy Canada… guy has no understanding geopolitical relations or politics in general 😅 as if a country can just buy another one
How much was Alaska ? Actually historically it’s exactly how peaceful acquisitions have happened in the Americas.
USD ain't going anywhere, chainlink is definetly here to stay.
Chainlink.
Their innovative approach to decentralized networks is intriguing, and their dedication to community-driven development sets them apart in an exciting way.
This aged like milk
LINK
This dude was shitting all over XRP, now is a fan boi. Comical.
It was shit till Gary gensler announced he would be resigning. That’s called a shift. If Gary was staying xrp would still pressed down at there lows facing law suits. Now maybe you might understand that you base your option on what the market gives you. And you shift as the markets shit.
You should be praising him
Very well put James. Im not a fan of xrp however, now it serves a purpose for me as a link holder. Don't hate the player, hate the game. Its all a game at theend of they day @JamesTaylor-lg2hz
@@JamesTaylor-lg2hzwrong, but nice rebuttal grab. Don't worry, We have room for you guys that doubted. Plus when this goes to Moon they're going to need an interview some people who were talking crap from the beginning like such. 🎤
Nvidia is a goldmine
Altcoin season is here. Meanwhile the market is dumping lol
It's not here Newbie
Can always tel who is broke 😂😂😂
Link
link❤
Chainlink ALL DAY LONG.
Xrp has had its pump what a load of BS
Xrp is part off financial system
It's all gonna dump big time.
Come back in 5 years and you will have a heart attack at how high things are going lol
Link!!! 🐏🚀🚀🚀🚀🚀
Bc ur a link sheep?
XRP!!
Link ❤❤❤