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r/CryptoMoonShotsSee Post

Hydra | A permissionless, open-source, proof-of-stake blockchain | Stake HYDRA to help maintain the network

r/CryptoCurrencySee Post

What is going on here?

r/CryptoCurrencySee Post

The Risks of Using Wrapped Tokens

r/CryptoCurrencySee Post

Trading suspended on exchange in Canada

r/CryptoCurrencySee Post

Kraken - Trading suspension in Canada for USDT, DAI, WBTC and WAXL

r/CryptoMoonShotsSee Post

SaitaBit (saitabit) | Backed by Bitcoin| The missing link between Ethereum and Bitcoin |An ERC20 Backed by Bitcoin |Live on Uniswap | Audited

r/CryptoCurrencySee Post

New AI-led Ethereum game 'Golden Egg Wonderland' is play to earn with a twist: players may earn real-life gold; earned NFT's can be redeemed for real gold in a similar vein as Pax-Gold

r/CryptoCurrencySee Post

SOL is a shitstorm waiting to eat your money

r/CryptoCurrencySee Post

Uniswap's founder hayden adams decided to charge a fee in the official frontend starting tomorrow

r/CryptoCurrencySee Post

Nooby questions in regards to borrowing/lending on dAPPs(aave)

r/CryptoMarketsSee Post

Why do you use DEX ?

r/CryptoCurrencySee Post

Why do you use DEX ?

r/CryptoCurrencySee Post

In 2021, "Mr. White Hat" pulled off a $600+ million exploit against the Poly Network, which is the second biggest crypto hack of all time. He then established communication through Ether transaction data fields, and agreed to give all the stolen crypto back. He was given a 160 ETH bounty.

r/CryptoMoonShotsSee Post

Bitcoin Baby - Gateway to the world of innovative cryptocurrency opportunities.

r/CryptoCurrencySee Post

FTX receives court approval to liquidate its cryptocurrency

r/CryptoCurrencySee Post

JUST IN: FTX receives court approval to liquidate $3.4 billion in crypto assets • Solana • Bitcoin • Ethereum • WBTC • WETH • USDT • XRP • STG • APT • BIT

r/CryptoCurrencySee Post

Improve your Crypto IQ (Part 1): Here are 6 compact explanations I've written to help you understand these technical terms: Interoperability, Arbitrage, Flash Loan, Liquidity Pool, Impermanent Loss, and UTXO

r/CryptoCurrencySee Post

Is Defi mostly for whales?

r/CryptoCurrencySee Post

Bridges, wrapped tokens, and hubs: a simple guide to understanding interoperability

r/CryptoCurrencySee Post

Reminder: Exchange Wrapped coins are not the same as regular coins

r/CryptoMoonShotsSee Post

SaitaBit (saitabit) | Backed by Bitcoin| The missing link between Ethereum and Bitcoin |An ERC20 Backed by Bitcoin |Live on Uniswap | Audited

r/CryptoCurrencySee Post

Does BTC have liquidity pools…

r/CryptoCurrencySee Post

[SERIOUS] Bitcoin Spot ETF: False Hope for a Bull Run? BlackRock, Fidelity, Galaxy Digital and Other Companies have Proposed Charging up to 2.5% Management Fees for Bitcoin ETF!!

r/CryptoCurrencySee Post

The subtle line between sustainable APY and Ponzi scheme

r/CryptoMoonShotsSee Post

SaitaBit (saitabit) | Backed by Bitcoin| The missing link between Ethereum and Bitcoin |An ERC20 Backed by Bitcoin |Live on Uniswap | Audited

r/CryptoMoonShotsSee Post

SaitaBit (saitabit) | Backed by Bitcoin| The missing link between Ethereum and Bitcoin |An ERC20 Backed by Bitcoin |Live on Uniswap | Audited

r/CryptoCurrencySee Post

Unwrap WBTC BEP20 to BTC?

r/CryptoMoonShotsSee Post

SaitaBit (saitabit) | Backed by Bitcoin| The missing link between Ethereum and Bitcoin |An ERC20 Backed by Bitcoin |Live on Uniswap | Audited

r/CryptoCurrencySee Post

A vision: Why Haven't Moons Been Integrated for Reddit NFT Marketplace Yet? 🌕

r/CryptoCurrencySee Post

A vision: Why Haven't Moons Been Integrated for Reddit NFT Marketplace Yet? 🌕

r/CryptoCurrencySee Post

Crypto for Dummies: L1 and L2 Tokens

r/CryptoCurrencySee Post

L2 bridged tokens - risk assessment

r/CryptoMoonShotsSee Post

SaitaBit (saitabit) | Backed by Bitcoin| The missing link between Ethereum and Bitcoin |An ERC20 Backed by Bitcoin |Live on Uniswap | Audited

r/CryptoMoonShotsSee Post

SaitaBit (saitabit) | Backed by Bitcoin| The missing link between Ethereum and Bitcoin |An ERC20 Backed by Bitcoin |Live on Uniswap Live| 0x927402ab67c0CDA3c187E9DFE34554AC581441f2

r/CryptoCurrencySee Post

Wrapped Bitcoin (WBTC) depegging from bitcoin. What's going on?

r/CryptoCurrencySee Post

Recently, Multichain was hacked for $100+ million. Now, the missing USDC and USDT funds have been frozen. What do people think comes next?

r/CryptoCurrencySee Post

Multichain got hacked again?

r/CryptoCurrencySee Post

How I'm trying to obtain these two airdrop without being a crypto genius.

r/CryptoCurrencySee Post

Whale 0xfd7 Resurfaces After 1.5 Years with only one action is to swap $USDT to $WBTC

r/CryptoCurrencySee Post

Wanchain XFlows WanBridge upgrade enables seamless native-to-native cross-chain transactions, now including support for WBTC on Ethereum!

r/CryptoCurrencySee Post

Address 0xd275, allegedly one of the addresses of misappropriating customer funds disclosed by ex-employees of FTX is transferring a lot of WBTC and ETH to Cex!

r/CryptoMoonShotsSee Post

CRV and Curve DAO: A Moonshot Worth Considering

r/CryptoMarketsSee Post

Curve DAO has rolled out a Tri Crypto token pool, hosting Ethereum, WBTC and USDT with DeFi’s deepest liquidity thats why its price surge last week

r/CryptoCurrencySee Post

You Won't Believe This: $1.5 Million in Crypto Sent to JaredFromSubway.eth by Accident!

r/CryptoCurrencySee Post

Expert bot trader accidently sends $1.5 million dollars to Jared From Subway

r/CryptoMoonShotsSee Post

Oscarswap.com | Comparison Between Uniswap & Oscarswap |Top #1 DEX on Arbitrum | KYC | AUDIT

r/CryptoCurrencySee Post

A whale sold $2m amount of assets to go all in on PEPE

r/CryptoCurrencySee Post

How a Reddit NFT marketplace could bring Moons and Reddit Avatars together in a way that brings value to both

r/CryptoCurrencySee Post

WBTC/USDT Trading Postponed | Binance Support

r/CryptoCurrencySee Post

Savvy Overview and Flow of Funds

r/CryptoCurrencySee Post

Bitcoin Drops Below $28K as Options Expire, Traders Borrow WBTC From Aave

r/CryptoCurrencySee Post

Why does ayone buy and hold WBTC? There is only one true BTC.

r/CryptoMoonShotsSee Post

Lunatics Token is going Luni!

r/CryptoCurrencySee Post

HEX is up 420% in 2023, LET ME EXPLAIN WHY.

r/CryptoCurrencySee Post

Buying Moons on Sushi Swap with Metamask: how to switch your ETH from the Ethereum Main Network to the Arbitrum Nova Network.

r/CryptoCurrencySee Post

Tutorial: how to stay safe in defi

r/CryptoCurrencySee Post

Today's most important headlines

r/CryptoCurrencySee Post

Embattled Crypto Lender Celsius Allocates $25M for Withdrawals, Burns $500M in WBTC

r/CryptoCurrencySee Post

Embattled Crypto Lender Celsius Allocates $25M for Withdrawals, Burns $500M in WBTC

r/CryptoCurrencySee Post

The Danger of Trading with Leverage Trading, March 2023 Edition

r/CryptoCurrencySee Post

Celsius Converts 23,000 WBTC Into Bitcoin

r/CryptoCurrencySee Post

FUD - A cautionary tale

r/CryptoCurrencySee Post

WBTC trading under 15k

r/CryptoMarketsSee Post

Wrapped Bitcoin (WBTC) on Uni-Swap currently trades under $15,000 as rumors of "fat finger trades" circulate; "Arbitrage traders are certain to enter to fill the sharp price difference hastily, so absolutely no reason to panic!" -db breaking news

r/CryptoMarketsSee Post

Update 14.48 CST: Wrapped Bitcoin (WBTC) on UniSwap currently trades under $14,900 as rumors of a series of "fat finger trades" circulate; "Arbitrage traders are certain to enter to fill the sharp price difference hastily, so absolutely no reason to panic" -db

r/CryptoCurrencySee Post

Update 12.21 CST: Wrapped Bitcoin (WBTC) on Uni-Swap currently trades under $14,900 as rumors of a series of "fat finger trades" circulate; "Arbitrage traders are certain to enter to fill the sharp price difference hastily, so absolutely no reason to panic" -db

r/CryptoCurrencySee Post

Update 12.05 CST: Wrapped Bitcoin (WBTC) on Uni-Swap currently trades under $14,900 as rumors of a series of "fat finger trades" circulate; "Arbitrage traders are certain to enter to fill the sharp price difference hastily, so absolutely no reason to panic" -db

r/CryptoCurrencySee Post

Update 11.59 CST: Wrapped Bitcoin (WBTC) on Uni-Swap currently trades under $14,900 as rumors of a series of "fat finger trades" circulate; "Arbitrage traders are certain to enter to fill the sharp price difference hastily, so absolutely no reason to panic" -db

r/CryptoCurrencySee Post

Update 11.53 CST: Wrapped Bitcoin (WBTC) on Uni-Swap currently trades under $14,900 as rumors of a series of "fat finger trades" circulate; "Arbitrage traders are certain to enter to fill the sharp price difference hastily, so absolutely no reason to panic" -db

r/CryptoCurrencySee Post

What is WBTC or “Wrapped Bitcoin”

r/CryptoCurrencySee Post

Any blockchain bridge with API for BTC to WBTC conversion?

r/CryptoCurrencySee Post

Midas WBTC > Canada Xchnge

r/CryptoCurrencySee Post

BitGo declined Alameda’s attempt to redeem 3,000 WBTC

r/CryptoCurrencySee Post

WBTC Has Always Been Transparently Fully Backed and Is Fine. Stop Spreading Unfounded Fears

r/CryptoCurrencySee Post

[SERIOUS] Warning about WBTC & STETH depeg

r/CryptoCurrencySee Post

Evidence that FTX Accounts Drainer is transferring MOONs and BRICKs between his accounts. He was one of us all along!

r/CryptoCurrencySee Post

Is wrapped Ether on polygon safe?

r/CryptoCurrencySee Post

SBF's Alameda Deep Dealings With Tether And Alleged FTX Market Fraud

r/CryptoMoonShotsSee Post

(CRYPTO: $FUSE) Fuse Network

r/CryptoCurrencySee Post

The strategies I’ve been using this bear market: Yield Farming, Liquidity Mining (and Their Risks)

r/CryptoCurrencySee Post

ETH merge -- are all tokens on the Ethereum network safe?

r/CryptoCurrenciesSee Post

BREAKING: DeFi project BOND announced v2. And we see unusual buying activity of WBTC to use on DeFi protocols

r/CryptoMoonShotsSee Post

Whale Sniper: WBTC - Unusual buying activity. Meaning, they plan to use their BTC on DeFi protocols such as BarnBridge (BOND)

r/CryptoMarketsSee Post

I just saw the prediction of the legendary Crypto James on BOND. He said BOND now worth around $6,5, but it has a potential to skyrocket to $100. Small cut on this DeFi project

r/CryptoCurrencySee Post

Tipping with Ether instead of Moons

r/CryptoCurrencySee Post

Tipping with Ether instead of Moons

r/CryptoCurrencySee Post

Hodlnaut update: Judicial management likely, forced liquidation possible

r/CryptoCurrencySee Post

BitGo (custodian for WBTC) fails to deliver audited financial statements.

r/CryptoCurrencySee Post

Folks, we're in an Altseason!

r/CryptoCurrencySee Post

Here's how to bridge Bitcoin to Ethereum in a decentralized way

r/CryptoCurrencySee Post

Nomad bridge getting actively hacked. WETH and WBTC being taken out in million-dollar increments. Withdraw all funds if you can, still $126m remaining in the contract that's likely at risk

r/CryptoCurrencySee Post

Celsius Just Paid Off the Loan that was Facing Liquidation and withdrew almost 24,000 WBTC -- Some see this as great step towards opening up (limited) withdrawals, while others think it merely represents paying off secured creditors before filing for bankruptcy and/or restructuring.

r/CryptoCurrencySee Post

Cefi lending platforms have proven to be unreliable and risky. Is there a legit (but not risk-free) way to gain % APY on your cryptocurrencies? I present you my case.

r/CryptoCurrencySee Post

95% Harmony is Done now. Hackers have laundered all the stolen assets

r/CryptoCurrencySee Post

Learn About WBTC 👇

r/CryptoCurrencySee Post

95% of cryptocurrency exchanges work while 80% of CEFI lending platforms fail.

r/CryptoCurrencySee Post

And just like that Harmony one to be Harmony Done!

r/CryptoCurrencySee Post

There was Harmony OnCe.

r/BitcoinSee Post

Receive Bitcoin as Funds for DAO Operated Business and Run Payroll

r/CryptoCurrencySee Post

Please help: Safely purchasing BTC

Mentions

Transactions do not necessarily mean spending. For example I transacted BTC to mint WBTC to do some defi stuff. I get my BTC back as long as I return the wrapped BTC. In a hundred year, there will be probably more than just defi. The hard cap i.e. without tail emissions, shows the community being bullish on a token.

Mentions:#BTC#WBTC

Jupiter (Solana) has a WBTC perp

Mentions:#WBTC

As in, is there a way to transfer assets to a monero version? Or is Monero a single token chain? For example, WBTC on ethereum allows one to hold wealth in Bitcoin whilst utilising the ethereum smart contract platform. If there was a way to hold bitcoin with all the added privacy of Monero that could be best of both worlds

Mentions:#WBTC

> If you swap WBTC for USDT on Ethereum chain, you will have USDT only on the Ethereum chain and not on any other chains. I think you've helped me. Is it possible to transfer crypto from one chain to another?

Mentions:#WBTC#USDT

There is no BTC on Ethereum chain, only WBTC. If you swap WBTC for USDT on Ethereum chain, you will have USDT only on the Ethereum chain and not on any other chains. Where are you trying to swap it? I think you are confusing several things together.

Yes, Especially concentrated liquidity. You can earn 50-100% APR on ETH-USDC pair pretty comfortably. 15-25% on ETH-WBTC. More exotic pairs with high volume can pay much higher.

#Chainlink Con-Arguments Below is a Chainlink con-argument written by etj103007. > **What is Chainlink?** > > *Disclaimer: I have interacted with smart contracts using Chainlink, though I don’t hold any of the token itself.* > > Chainlink is an oracle network, allowing smart contracts to receive (and send) external information. In short, it allows the blockchain to interact with the outside world. > > It is supported on many different blockchains, including the Ethereum Mainnet, its L2s, and sidechains such as Polygon. > > However, the Chainlink network itself is not a blockchain. Instead, it calls itself “blockchain-agnostic” meaning it can theoretically be used on any chain that wants to support it. > > Say you want send 10$ of a coin or token to a certain address every day. Well, if it was a stablecoin, it’d be pretty easy. But maybe it’s Ethereum, or WBTC, or some other token that fluctuates in price. As such, the amount of said token/coin worth 10$ always changes. Using Chainlink, you can avail the price of that token/coin, and be able to calculate the exact amount to send so that it equals 10$. There are many other situations just like this that the Chainlink network is used for. > > The Chainlink token serves a niche; it is used to pay the node operators for the data they deliver. Recently, LINK staking has launched with the advent of Chainlink Staking v0.1. This allows operators and users to stake their LINK to secure the network. > > Chainlink is used as an oracle by various DeFi protocols like AAVE, dYdX, Synthetix, by various NFT projects such as those created by the NBA, even decentralized insurance (Etherisc) and more. ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)) > > # Pros of Chainlink (LINK) > > **1. Chainlink is secure, scalable, and reliable.** > > The nature of being a Chainlink node operator maintains these 3 qualities. Node operators are required to follow a set of guidelines for their nodes to ensure security. For example, nodes have to have backups for the nodes connecting to their data sources, snapshots of the chain for syncing, Ethereum to pay for gas, and more. > > Being decentralized and relying on the blockchain to secure the data feed transactions pretty much guarantees its security as well. > > Node operators also do their best to optimize the performance of their nodes and have also released multiple developments to increase scalability, such as the Off-Chain Reporting upgrade which has reduced operating costs by 90% ([https://blog.chain.link/off-chain-reporting-live-on-mainnet/](https://blog.chain.link/off-chain-reporting-live-on-mainnet/)) > > As said before, Chainlink (being based on smart contracts) can theoretically be used on any blockchain that wishes to adopt it. And with the use cases mentioned above ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)), the only thing it needs is developers willing to adopt it into their respective blockchains. > > The Chainlink network also prides itself on its reliability. Being serviced by independent and reputable node operators such as Infura, Swisscom (telecom company), Huobi, Binance, and others, it relies on this network of operators to source the data needed onchain. As node operators need to stake their tokens as collateral, it also challenges them to offer good performance. > > For example, Chainlink held an “oracle Olympics” challenging operators to keep their uptime at 100% while undergoing several challenges. While 100% is impossible, the winners guaranteed 99.99%, ensuring that their nodes would be available for that amount of time while still surviving thru challenges. > > **2. Chainlink’s recently launched Chainlink Staking v.0.1 allows users to stake their tokens while securing the networks' nodes.** > > While currently only supporting the ETH/USD data feed on mainnet Ethereum, other data feeds will soon be supported. Meanwhile, Staking 0.2 is planned in 9-12 months and is expected to bring updates and developments to staking, and also allow withdrawals of currently staked LINK. > > Just like traditional staking, this version allows users to secure the network; unlike POS blockchains, Chainlink doesn’t run on a blockchain so stakers secure by raising alerts (if the oracle doesn’t report an update in 3 hours, for example). If the alerts are valid, they can earn LINK, improving the security of the network by penalizing unresponsive nodes. > > Reputation systems for nodes have also been developed, ensuring that nodes maintain their good performance and continue providing correct oracle prices. > > These two systems combined ensure every node performs well and allow users in the ecosystem to earn rewards while securing the network. > > **In conclusion:** > > Chainlink Network and its token will continue its developments in the next years as the demand for oracles increases across the crypto space. Its' progress in its tokenomics with the start of staking while simultaneously ensuring the performance of its nodes will be welcomed by users of the network. And as more and more chains support Chainlink, it won't be long until it'll be found everywhere in DeFi and other sectors. > > TLDR: LINK and its network is used in many sectors of crypto, is secure, scalable, and reliable, while its' tokenomics continue to progress. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Chainlink) to find submissions for other topics.

#Chainlink Pro-Arguments Below is a Chainlink pro-argument written by etj103007. > **What is Chainlink?** > > *Disclaimer: I have interacted with smart contracts using Chainlink, though I don’t hold any of the token itself.* > > Chainlink is an oracle network, allowing smart contracts to receive (and send) external information. In short, it allows the blockchain to interact with the outside world. > > It is supported on many different blockchains, including the Ethereum Mainnet, its L2s, and sidechains such as Polygon. > > However, the Chainlink network itself is not a blockchain. Instead, it calls itself “blockchain-agnostic” meaning it can theoretically be used on any chain that wants to support it. > > Say you want send 10$ of a coin or token to a certain address every day. Well, if it was a stablecoin, it’d be pretty easy. But maybe it’s Ethereum, or WBTC, or some other token that fluctuates in price. As such, the amount of said token/coin worth 10$ always changes. Using Chainlink, you can avail the price of that token/coin, and be able to calculate the exact amount to send so that it equals 10$. There are many other situations just like this that the Chainlink network is used for. > > The Chainlink token serves a niche; it is used to pay the node operators for the data they deliver. Recently, LINK staking has launched with the advent of Chainlink Staking v0.1. This allows operators and users to stake their LINK to secure the network. > > Chainlink is used as an oracle by various DeFi protocols like AAVE, dYdX, Synthetix, by various NFT projects such as those created by the NBA, even decentralized insurance (Etherisc) and more. ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)) > > # Pros of Chainlink (LINK) > > **1. Chainlink is secure, scalable, and reliable.** > > The nature of being a Chainlink node operator maintains these 3 qualities. Node operators are required to follow a set of guidelines for their nodes to ensure security. For example, nodes have to have backups for the nodes connecting to their data sources, snapshots of the chain for syncing, Ethereum to pay for gas, and more. > > Being decentralized and relying on the blockchain to secure the data feed transactions pretty much guarantees its security as well. > > Node operators also do their best to optimize the performance of their nodes and have also released multiple developments to increase scalability, such as the Off-Chain Reporting upgrade which has reduced operating costs by 90% ([https://blog.chain.link/off-chain-reporting-live-on-mainnet/](https://blog.chain.link/off-chain-reporting-live-on-mainnet/)) > > As said before, Chainlink (being based on smart contracts) can theoretically be used on any blockchain that wishes to adopt it. And with the use cases mentioned above ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)), the only thing it needs is developers willing to adopt it into their respective blockchains. > > The Chainlink network also prides itself on its reliability. Being serviced by independent and reputable node operators such as Infura, Swisscom (telecom company), Huobi, Binance, and others, it relies on this network of operators to source the data needed onchain. As node operators need to stake their tokens as collateral, it also challenges them to offer good performance. > > For example, Chainlink held an “oracle Olympics” challenging operators to keep their uptime at 100% while undergoing several challenges. While 100% is impossible, the winners guaranteed 99.99%, ensuring that their nodes would be available for that amount of time while still surviving thru challenges. > > **2. Chainlink’s recently launched Chainlink Staking v.0.1 allows users to stake their tokens while securing the networks' nodes.** > > While currently only supporting the ETH/USD data feed on mainnet Ethereum, other data feeds will soon be supported. Meanwhile, Staking 0.2 is planned in 9-12 months and is expected to bring updates and developments to staking, and also allow withdrawals of currently staked LINK. > > Just like traditional staking, this version allows users to secure the network; unlike POS blockchains, Chainlink doesn’t run on a blockchain so stakers secure by raising alerts (if the oracle doesn’t report an update in 3 hours, for example). If the alerts are valid, they can earn LINK, improving the security of the network by penalizing unresponsive nodes. > > Reputation systems for nodes have also been developed, ensuring that nodes maintain their good performance and continue providing correct oracle prices. > > These two systems combined ensure every node performs well and allow users in the ecosystem to earn rewards while securing the network. > > **In conclusion:** > > Chainlink Network and its token will continue its developments in the next years as the demand for oracles increases across the crypto space. Its' progress in its tokenomics with the start of staking while simultaneously ensuring the performance of its nodes will be welcomed by users of the network. And as more and more chains support Chainlink, it won't be long until it'll be found everywhere in DeFi and other sectors. > > TLDR: LINK and its network is used in many sectors of crypto, is secure, scalable, and reliable, while its' tokenomics continue to progress. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Chainlink) to find submissions for other topics.

#Chainlink Pro-Arguments Below is a Chainlink pro-argument written by etj103007. > **What is Chainlink?** > > *Disclaimer: I have interacted with smart contracts using Chainlink, though I don’t hold any of the token itself.* > > Chainlink is an oracle network, allowing smart contracts to receive (and send) external information. In short, it allows the blockchain to interact with the outside world. > > It is supported on many different blockchains, including the Ethereum Mainnet, its L2s, and sidechains such as Polygon. > > However, the Chainlink network itself is not a blockchain. Instead, it calls itself “blockchain-agnostic” meaning it can theoretically be used on any chain that wants to support it. > > Say you want send 10$ of a coin or token to a certain address every day. Well, if it was a stablecoin, it’d be pretty easy. But maybe it’s Ethereum, or WBTC, or some other token that fluctuates in price. As such, the amount of said token/coin worth 10$ always changes. Using Chainlink, you can avail the price of that token/coin, and be able to calculate the exact amount to send so that it equals 10$. There are many other situations just like this that the Chainlink network is used for. > > The Chainlink token serves a niche; it is used to pay the node operators for the data they deliver. Recently, LINK staking has launched with the advent of Chainlink Staking v0.1. This allows operators and users to stake their LINK to secure the network. > > Chainlink is used as an oracle by various DeFi protocols like AAVE, dYdX, Synthetix, by various NFT projects such as those created by the NBA, even decentralized insurance (Etherisc) and more. ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)) > > # Pros of Chainlink (LINK) > > **1. Chainlink is secure, scalable, and reliable.** > > The nature of being a Chainlink node operator maintains these 3 qualities. Node operators are required to follow a set of guidelines for their nodes to ensure security. For example, nodes have to have backups for the nodes connecting to their data sources, snapshots of the chain for syncing, Ethereum to pay for gas, and more. > > Being decentralized and relying on the blockchain to secure the data feed transactions pretty much guarantees its security as well. > > Node operators also do their best to optimize the performance of their nodes and have also released multiple developments to increase scalability, such as the Off-Chain Reporting upgrade which has reduced operating costs by 90% ([https://blog.chain.link/off-chain-reporting-live-on-mainnet/](https://blog.chain.link/off-chain-reporting-live-on-mainnet/)) > > As said before, Chainlink (being based on smart contracts) can theoretically be used on any blockchain that wishes to adopt it. And with the use cases mentioned above ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)), the only thing it needs is developers willing to adopt it into their respective blockchains. > > The Chainlink network also prides itself on its reliability. Being serviced by independent and reputable node operators such as Infura, Swisscom (telecom company), Huobi, Binance, and others, it relies on this network of operators to source the data needed onchain. As node operators need to stake their tokens as collateral, it also challenges them to offer good performance. > > For example, Chainlink held an “oracle Olympics” challenging operators to keep their uptime at 100% while undergoing several challenges. While 100% is impossible, the winners guaranteed 99.99%, ensuring that their nodes would be available for that amount of time while still surviving thru challenges. > > **2. Chainlink’s recently launched Chainlink Staking v.0.1 allows users to stake their tokens while securing the networks' nodes.** > > While currently only supporting the ETH/USD data feed on mainnet Ethereum, other data feeds will soon be supported. Meanwhile, Staking 0.2 is planned in 9-12 months and is expected to bring updates and developments to staking, and also allow withdrawals of currently staked LINK. > > Just like traditional staking, this version allows users to secure the network; unlike POS blockchains, Chainlink doesn’t run on a blockchain so stakers secure by raising alerts (if the oracle doesn’t report an update in 3 hours, for example). If the alerts are valid, they can earn LINK, improving the security of the network by penalizing unresponsive nodes. > > Reputation systems for nodes have also been developed, ensuring that nodes maintain their good performance and continue providing correct oracle prices. > > These two systems combined ensure every node performs well and allow users in the ecosystem to earn rewards while securing the network. > > **In conclusion:** > > Chainlink Network and its token will continue its developments in the next years as the demand for oracles increases across the crypto space. Its' progress in its tokenomics with the start of staking while simultaneously ensuring the performance of its nodes will be welcomed by users of the network. And as more and more chains support Chainlink, it won't be long until it'll be found everywhere in DeFi and other sectors. > > TLDR: LINK and its network is used in many sectors of crypto, is secure, scalable, and reliable, while its' tokenomics continue to progress. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Chainlink) to find submissions for other topics.

#Chainlink Con-Arguments Below is a Chainlink con-argument written by etj103007. > **What is Chainlink?** > > *Disclaimer: I have interacted with smart contracts using Chainlink, though I don’t hold any of the token itself.* > > Chainlink is an oracle network, allowing smart contracts to receive (and send) external information. In short, it allows the blockchain to interact with the outside world. > > It is supported on many different blockchains, including the Ethereum Mainnet, its L2s, and sidechains such as Polygon. > > However, the Chainlink network itself is not a blockchain. Instead, it calls itself “blockchain-agnostic” meaning it can theoretically be used on any chain that wants to support it. > > Say you want send 10$ of a coin or token to a certain address every day. Well, if it was a stablecoin, it’d be pretty easy. But maybe it’s Ethereum, or WBTC, or some other token that fluctuates in price. As such, the amount of said token/coin worth 10$ always changes. Using Chainlink, you can avail the price of that token/coin, and be able to calculate the exact amount to send so that it equals 10$. There are many other situations just like this that the Chainlink network is used for. > > The Chainlink token serves a niche; it is used to pay the node operators for the data they deliver. Recently, LINK staking has launched with the advent of Chainlink Staking v0.1. This allows operators and users to stake their LINK to secure the network. > > Chainlink is used as an oracle by various DeFi protocols like AAVE, dYdX, Synthetix, by various NFT projects such as those created by the NBA, even decentralized insurance (Etherisc) and more. ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)) > > # Pros of Chainlink (LINK) > > **1. Chainlink is secure, scalable, and reliable.** > > The nature of being a Chainlink node operator maintains these 3 qualities. Node operators are required to follow a set of guidelines for their nodes to ensure security. For example, nodes have to have backups for the nodes connecting to their data sources, snapshots of the chain for syncing, Ethereum to pay for gas, and more. > > Being decentralized and relying on the blockchain to secure the data feed transactions pretty much guarantees its security as well. > > Node operators also do their best to optimize the performance of their nodes and have also released multiple developments to increase scalability, such as the Off-Chain Reporting upgrade which has reduced operating costs by 90% ([https://blog.chain.link/off-chain-reporting-live-on-mainnet/](https://blog.chain.link/off-chain-reporting-live-on-mainnet/)) > > As said before, Chainlink (being based on smart contracts) can theoretically be used on any blockchain that wishes to adopt it. And with the use cases mentioned above ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)), the only thing it needs is developers willing to adopt it into their respective blockchains. > > The Chainlink network also prides itself on its reliability. Being serviced by independent and reputable node operators such as Infura, Swisscom (telecom company), Huobi, Binance, and others, it relies on this network of operators to source the data needed onchain. As node operators need to stake their tokens as collateral, it also challenges them to offer good performance. > > For example, Chainlink held an “oracle Olympics” challenging operators to keep their uptime at 100% while undergoing several challenges. While 100% is impossible, the winners guaranteed 99.99%, ensuring that their nodes would be available for that amount of time while still surviving thru challenges. > > **2. Chainlink’s recently launched Chainlink Staking v.0.1 allows users to stake their tokens while securing the networks' nodes.** > > While currently only supporting the ETH/USD data feed on mainnet Ethereum, other data feeds will soon be supported. Meanwhile, Staking 0.2 is planned in 9-12 months and is expected to bring updates and developments to staking, and also allow withdrawals of currently staked LINK. > > Just like traditional staking, this version allows users to secure the network; unlike POS blockchains, Chainlink doesn’t run on a blockchain so stakers secure by raising alerts (if the oracle doesn’t report an update in 3 hours, for example). If the alerts are valid, they can earn LINK, improving the security of the network by penalizing unresponsive nodes. > > Reputation systems for nodes have also been developed, ensuring that nodes maintain their good performance and continue providing correct oracle prices. > > These two systems combined ensure every node performs well and allow users in the ecosystem to earn rewards while securing the network. > > **In conclusion:** > > Chainlink Network and its token will continue its developments in the next years as the demand for oracles increases across the crypto space. Its' progress in its tokenomics with the start of staking while simultaneously ensuring the performance of its nodes will be welcomed by users of the network. And as more and more chains support Chainlink, it won't be long until it'll be found everywhere in DeFi and other sectors. > > TLDR: LINK and its network is used in many sectors of crypto, is secure, scalable, and reliable, while its' tokenomics continue to progress. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Chainlink) to find submissions for other topics.

#Chainlink Pro-Arguments Below is a Chainlink pro-argument written by etj103007. > **What is Chainlink?** > > *Disclaimer: I have interacted with smart contracts using Chainlink, though I don’t hold any of the token itself.* > > Chainlink is an oracle network, allowing smart contracts to receive (and send) external information. In short, it allows the blockchain to interact with the outside world. > > It is supported on many different blockchains, including the Ethereum Mainnet, its L2s, and sidechains such as Polygon. > > However, the Chainlink network itself is not a blockchain. Instead, it calls itself “blockchain-agnostic” meaning it can theoretically be used on any chain that wants to support it. > > Say you want send 10$ of a coin or token to a certain address every day. Well, if it was a stablecoin, it’d be pretty easy. But maybe it’s Ethereum, or WBTC, or some other token that fluctuates in price. As such, the amount of said token/coin worth 10$ always changes. Using Chainlink, you can avail the price of that token/coin, and be able to calculate the exact amount to send so that it equals 10$. There are many other situations just like this that the Chainlink network is used for. > > The Chainlink token serves a niche; it is used to pay the node operators for the data they deliver. Recently, LINK staking has launched with the advent of Chainlink Staking v0.1. This allows operators and users to stake their LINK to secure the network. > > Chainlink is used as an oracle by various DeFi protocols like AAVE, dYdX, Synthetix, by various NFT projects such as those created by the NBA, even decentralized insurance (Etherisc) and more. ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)) > > # Pros of Chainlink (LINK) > > **1. Chainlink is secure, scalable, and reliable.** > > The nature of being a Chainlink node operator maintains these 3 qualities. Node operators are required to follow a set of guidelines for their nodes to ensure security. For example, nodes have to have backups for the nodes connecting to their data sources, snapshots of the chain for syncing, Ethereum to pay for gas, and more. > > Being decentralized and relying on the blockchain to secure the data feed transactions pretty much guarantees its security as well. > > Node operators also do their best to optimize the performance of their nodes and have also released multiple developments to increase scalability, such as the Off-Chain Reporting upgrade which has reduced operating costs by 90% ([https://blog.chain.link/off-chain-reporting-live-on-mainnet/](https://blog.chain.link/off-chain-reporting-live-on-mainnet/)) > > As said before, Chainlink (being based on smart contracts) can theoretically be used on any blockchain that wishes to adopt it. And with the use cases mentioned above ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)), the only thing it needs is developers willing to adopt it into their respective blockchains. > > The Chainlink network also prides itself on its reliability. Being serviced by independent and reputable node operators such as Infura, Swisscom (telecom company), Huobi, Binance, and others, it relies on this network of operators to source the data needed onchain. As node operators need to stake their tokens as collateral, it also challenges them to offer good performance. > > For example, Chainlink held an “oracle Olympics” challenging operators to keep their uptime at 100% while undergoing several challenges. While 100% is impossible, the winners guaranteed 99.99%, ensuring that their nodes would be available for that amount of time while still surviving thru challenges. > > **2. Chainlink’s recently launched Chainlink Staking v.0.1 allows users to stake their tokens while securing the networks' nodes.** > > While currently only supporting the ETH/USD data feed on mainnet Ethereum, other data feeds will soon be supported. Meanwhile, Staking 0.2 is planned in 9-12 months and is expected to bring updates and developments to staking, and also allow withdrawals of currently staked LINK. > > Just like traditional staking, this version allows users to secure the network; unlike POS blockchains, Chainlink doesn’t run on a blockchain so stakers secure by raising alerts (if the oracle doesn’t report an update in 3 hours, for example). If the alerts are valid, they can earn LINK, improving the security of the network by penalizing unresponsive nodes. > > Reputation systems for nodes have also been developed, ensuring that nodes maintain their good performance and continue providing correct oracle prices. > > These two systems combined ensure every node performs well and allow users in the ecosystem to earn rewards while securing the network. > > **In conclusion:** > > Chainlink Network and its token will continue its developments in the next years as the demand for oracles increases across the crypto space. Its' progress in its tokenomics with the start of staking while simultaneously ensuring the performance of its nodes will be welcomed by users of the network. And as more and more chains support Chainlink, it won't be long until it'll be found everywhere in DeFi and other sectors. > > TLDR: LINK and its network is used in many sectors of crypto, is secure, scalable, and reliable, while its' tokenomics continue to progress. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Chainlink) to find submissions for other topics.

> There are swaps based on other chains, right? Chain and network are synonyms. As I said before, there is **very little interoperability between networks**. You can't complete half of the transaction on one network and half of the transaction on another. There's no way to swap BTC for ETH (for example) because they are on different networks. We've talked about wrapping tokens before. The whole reason why something like WBTC even exists is because it's a workaround to the problem that there is very little interoperability between networks. If interoperability were possible, there is no use to wrap tokens. > But why do most of these small tokens seem to have to be swapped for ETH? Pretend that you make pretty little jewelry necklaces for a living. Ultimately, your goal is to sell these necklaces, and that will allow you to buy groceries and electricity. Is it feasible to swap necklaces for hamburgers? Or do you think it's maybe easier to swap necklaces for money, and then use that money to buy hamburgers? Let's say you swap some crypto for another. Where do you think that crypto comes from? It occurs because there's another willing participant in the trade, not because the crypto magically appears out of thin air. If you're trying to swap some obscure coin for another obscure coin, it's unlikely that you'd find someone that's into the same obscure coins as you. You can't find a trade partner. > I look at the details and it says ERC-20. So I figure that I'll need ETH to swap and I send some ETH to my wallet. If it says ERC-20, it's probably a safe bet that it's on Ethereum. As I mentioned before, "ERC-20" is merely the name of the procedure used to code the cryptocurrency. But the procedure comes from Ethereum, so it likely is Ethereum. Once you've identified what network this coin is on, you need some sort of asset on that network. It doesn't have to be ETH necessarily, but as I mentioned above: ETH tends to have more trade pairs. > But the fees are so high, I've always been trying to figure out if there's a cheaper way to buy some of them. Ethereum isn't meant for the small guy. If you're attempting to experiment with small amounts of money, Ethereum isn't for you. If you walk into a gourmet restaurant and try to order off of the dollar menu, who is at fault here? Is it the restaurant's fault for not having a dollar menu? Or is it your fault for looking for things in the wrong place?

Mentions:#BTC#ETH#WBTC

#Chainlink Con-Arguments Below is a Chainlink con-argument written by etj103007. > **What is Chainlink?** > > *Disclaimer: I have interacted with smart contracts using Chainlink, though I don’t hold any of the token itself.* > > Chainlink is an oracle network, allowing smart contracts to receive (and send) external information. In short, it allows the blockchain to interact with the outside world. > > It is supported on many different blockchains, including the Ethereum Mainnet, its L2s, and sidechains such as Polygon. > > However, the Chainlink network itself is not a blockchain. Instead, it calls itself “blockchain-agnostic” meaning it can theoretically be used on any chain that wants to support it. > > Say you want send 10$ of a coin or token to a certain address every day. Well, if it was a stablecoin, it’d be pretty easy. But maybe it’s Ethereum, or WBTC, or some other token that fluctuates in price. As such, the amount of said token/coin worth 10$ always changes. Using Chainlink, you can avail the price of that token/coin, and be able to calculate the exact amount to send so that it equals 10$. There are many other situations just like this that the Chainlink network is used for. > > The Chainlink token serves a niche; it is used to pay the node operators for the data they deliver. Recently, LINK staking has launched with the advent of Chainlink Staking v0.1. This allows operators and users to stake their LINK to secure the network. > > Chainlink is used as an oracle by various DeFi protocols like AAVE, dYdX, Synthetix, by various NFT projects such as those created by the NBA, even decentralized insurance (Etherisc) and more. ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)) > > # Pros of Chainlink (LINK) > > **1. Chainlink is secure, scalable, and reliable.** > > The nature of being a Chainlink node operator maintains these 3 qualities. Node operators are required to follow a set of guidelines for their nodes to ensure security. For example, nodes have to have backups for the nodes connecting to their data sources, snapshots of the chain for syncing, Ethereum to pay for gas, and more. > > Being decentralized and relying on the blockchain to secure the data feed transactions pretty much guarantees its security as well. > > Node operators also do their best to optimize the performance of their nodes and have also released multiple developments to increase scalability, such as the Off-Chain Reporting upgrade which has reduced operating costs by 90% ([https://blog.chain.link/off-chain-reporting-live-on-mainnet/](https://blog.chain.link/off-chain-reporting-live-on-mainnet/)) > > As said before, Chainlink (being based on smart contracts) can theoretically be used on any blockchain that wishes to adopt it. And with the use cases mentioned above ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)), the only thing it needs is developers willing to adopt it into their respective blockchains. > > The Chainlink network also prides itself on its reliability. Being serviced by independent and reputable node operators such as Infura, Swisscom (telecom company), Huobi, Binance, and others, it relies on this network of operators to source the data needed onchain. As node operators need to stake their tokens as collateral, it also challenges them to offer good performance. > > For example, Chainlink held an “oracle Olympics” challenging operators to keep their uptime at 100% while undergoing several challenges. While 100% is impossible, the winners guaranteed 99.99%, ensuring that their nodes would be available for that amount of time while still surviving thru challenges. > > **2. Chainlink’s recently launched Chainlink Staking v.0.1 allows users to stake their tokens while securing the networks' nodes.** > > While currently only supporting the ETH/USD data feed on mainnet Ethereum, other data feeds will soon be supported. Meanwhile, Staking 0.2 is planned in 9-12 months and is expected to bring updates and developments to staking, and also allow withdrawals of currently staked LINK. > > Just like traditional staking, this version allows users to secure the network; unlike POS blockchains, Chainlink doesn’t run on a blockchain so stakers secure by raising alerts (if the oracle doesn’t report an update in 3 hours, for example). If the alerts are valid, they can earn LINK, improving the security of the network by penalizing unresponsive nodes. > > Reputation systems for nodes have also been developed, ensuring that nodes maintain their good performance and continue providing correct oracle prices. > > These two systems combined ensure every node performs well and allow users in the ecosystem to earn rewards while securing the network. > > **In conclusion:** > > Chainlink Network and its token will continue its developments in the next years as the demand for oracles increases across the crypto space. Its' progress in its tokenomics with the start of staking while simultaneously ensuring the performance of its nodes will be welcomed by users of the network. And as more and more chains support Chainlink, it won't be long until it'll be found everywhere in DeFi and other sectors. > > TLDR: LINK and its network is used in many sectors of crypto, is secure, scalable, and reliable, while its' tokenomics continue to progress. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Chainlink) to find submissions for other topics.

There's two reasons to wrap coins. The most common reason is to bring it to another chain. Have you ever been to a casino? How do you gamble at a blackjack table? You have to use the dollars to buy chips, then you either win more chips or lose those chips, and then you redeem the chips for actual dollars again. But the key distinction here is: **you don't actually gamble with real dollar bills**. So if a casino chip says it's worth $100, how much is it actually worth? There's two right answers: * It's worth nothing. It's not real money. It's just useless clay. * It's worth $100, because I believe this particular piece of clay is redeemable for a real $100 bill at my request. That's what something like WBTC is. It's a casino chip. WBTC is an ERC-20 token. WBTC does exist on the Ethereum network. It's not real BTC, but as long as you believe that it's redeemable for actual BTC, then it should have the same value as BTC. You can't use real dollars at a blackjack table and you can't use real BTC on the Ethereum network. But you **can** use clay (which represents dollars) at a blackjack table and you **can** use WBTC (which represents BTC) on an Ethereum DEX. Others have mentioned that it is possible to wrap a coin on its own network. I think you deal with this second situation far less often. The short version of it is that ETH is a coin that is used to pay network fees. Coins are meant for network fees. Coins aren't meant for trading. So, WETH is a token that potentially still exists on the Ethereum network: * It's a token, which means it can be traded. * It is redeemable at a 1:1 ratio for the real ETH coin, and therefore WETH should have the same value as ETH.

And now another commenter has come along and said that wrapping coins allows them to be used on other chains, which is exactly what I thought, WBTC for example. So which is it? 😅

Mentions:#WBTC

Oh fair enough. I know that some tokens can run, or at least be transferred on multiple networks, maybe that's just stable coins? But I also thought that what I had understood to be the point of wrapped tokens or coins, was to allow them to transact on other chains. If it's not that then why is it even necessary? I read the Chat GPT response about WETH but you also get WBTC, right? Why is that needed if not for the reason I (apparently incorrectly) thought it was?

I'm in the US and use Coinbase. Part of my paycheck goes there, turns into USDC, I buy what I want there or on a DEX, then I send it to my Ledger. > Should I wait till I have a specific amount of BTC in my Strike APP before sending it to Ledger cold wallet or transfer it every time a purchase is made? This really depends on how much the fees are and how comfortable you are with leaving stuff on the Strike App until you're ready to withdraw. I've been buying more ETH than BTC so I can take advantage of cheap L2s to withdraw. The last time I bought BTC the withdraw fees made me seriously think about buying wrapped BTC (WBTC or the Avalanche one BTC.b) and just using that but I ended up biting the bullet and holding the L on the fees.

it doesn't matter what exchange you going to use as most have the same gas fee's for sending best case is to use a coin that has very little gas fee's like you mentioned LTC, unless your friend needs BTC only? then maybe a wrapped version on MATIC like WBTC will be cheap to send but then you need to make sure he gives you adress on matic if you decide to send wrapped version of BTC, and for getting cheaper fee's on Coinbase use "advanced trade" and make market order yourself

Maybe, but just for context... there's already 37x more BTC wrapped on Ethereum than there is on Lightning ($7.4 billion of WBTC vs $0.2 billion on Lightning). And $0.28 billion worth of WBTC moved on Ethereum yesterday, so I'd say it's equally likely that Bitcoin ends up migrating to Ethereum in the future... maybe it could have it's own rollup?

Mentions:#BTC#WBTC

WBTC on layer 2s or ckBTC on ICP. Eventually there's no getting around BTC and ETH having high fees if you're interacting with them, there's only so much throughput on their own chains so even if you park them into one of the cheaper layers that's also driving the fees higher. It's ungetaroundable unless block sizes increase or sharding happens.

There's no rule that you must sell some of your BTC and get into alts. I wouldn't sell any of it. At most, maybe get some WBTC and borrow against it and buy some stuff if you're really dying to. I hope you got out of that CAKE position early. It's still 90% off the highs.

Well no, in that case the exchange will be filing for you. Trading WBTC on Uniswap otoh, then this law may give you trouble.

Mentions:#WBTC

Wow similar boat. Got eth then realized BTC was what I was more looking for, I haven't decided yet but there is a planned window. My amWBTC should trade back to eth and put back on mainnet where I will swap to rETH when fees are low. This is a hot wallet meant for gaming and small projects but that WBTC will go up after the halvening. The ETH I'm describing is on a cold wallet with BTC, there will be capitulation where people will sell a fuckton determining the new ATH. When BTC hits a new ATH and vitalik will do his usual selling ETH when he knows the right time will be a crucial moment on the ETHWBTC pool. It would be the best time to swap, but again idk about fees and idk how to explain the taxes on this one. It's pretty exciting though, mainnet fees are still unnecessarily high and will be for a long while, and the upgrades have possible risks in the future even though the team is trustworthy.

Mentions:#BTC#WBTC#ETH

tldr; Orbit Chain, a cross-chain project, was hacked on New Year's Eve, resulting in the loss of approximately $81 million. The hackers gained access to seven out of ten multisig signers, allowing them to steal various cryptocurrencies including USDT, USDC, DAI, WBTC, and ETH. Following the hack, the price of Orbit Chain's native token, ORC, dropped by nearly 20%. The project is investigating the breach and working with international law enforcement. Additionally, scammers are attempting to exploit the situation by impersonating Orbit Chain for phishing scams. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

tldr; Orbit Bridge, a service of the cross-chain protocol Orbit Chain, was exploited for $82 million. The exploit was highlighted by a Twitter user and confirmed by blockchain analytics platform Arkham Intelligence. Hackers transferred $30 million in USDT, $10 million in USDC, 9,500 ETH, 231 WBTC, and $10 million in DAI to new wallets. The nature of the exploit is currently unknown, and Orbit Chain has not yet commented on the incident. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

I'd just swap it for WBTC on Jupiter. Less hassle and fees, and you'd farm the JUP airdrop.

Mentions:#WBTC#JUP

#Chainlink Pro-Arguments Below is a Chainlink pro-argument written by etj103007. > **What is Chainlink?** > > *Disclaimer: I have interacted with smart contracts using Chainlink, though I don’t hold any of the token itself.* > > Chainlink is an oracle network, allowing smart contracts to receive (and send) external information. In short, it allows the blockchain to interact with the outside world. > > It is supported on many different blockchains, including the Ethereum Mainnet, its L2s, and sidechains such as Polygon. > > However, the Chainlink network itself is not a blockchain. Instead, it calls itself “blockchain-agnostic” meaning it can theoretically be used on any chain that wants to support it. > > Say you want send 10$ of a coin or token to a certain address every day. Well, if it was a stablecoin, it’d be pretty easy. But maybe it’s Ethereum, or WBTC, or some other token that fluctuates in price. As such, the amount of said token/coin worth 10$ always changes. Using Chainlink, you can avail the price of that token/coin, and be able to calculate the exact amount to send so that it equals 10$. There are many other situations just like this that the Chainlink network is used for. > > The Chainlink token serves a niche; it is used to pay the node operators for the data they deliver. Recently, LINK staking has launched with the advent of Chainlink Staking v0.1. This allows operators and users to stake their LINK to secure the network. > > Chainlink is used as an oracle by various DeFi protocols like AAVE, dYdX, Synthetix, by various NFT projects such as those created by the NBA, even decentralized insurance (Etherisc) and more. ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)) > > # Pros of Chainlink (LINK) > > **1. Chainlink is secure, scalable, and reliable.** > > The nature of being a Chainlink node operator maintains these 3 qualities. Node operators are required to follow a set of guidelines for their nodes to ensure security. For example, nodes have to have backups for the nodes connecting to their data sources, snapshots of the chain for syncing, Ethereum to pay for gas, and more. > > Being decentralized and relying on the blockchain to secure the data feed transactions pretty much guarantees its security as well. > > Node operators also do their best to optimize the performance of their nodes and have also released multiple developments to increase scalability, such as the Off-Chain Reporting upgrade which has reduced operating costs by 90% ([https://blog.chain.link/off-chain-reporting-live-on-mainnet/](https://blog.chain.link/off-chain-reporting-live-on-mainnet/)) > > As said before, Chainlink (being based on smart contracts) can theoretically be used on any blockchain that wishes to adopt it. And with the use cases mentioned above ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)), the only thing it needs is developers willing to adopt it into their respective blockchains. > > The Chainlink network also prides itself on its reliability. Being serviced by independent and reputable node operators such as Infura, Swisscom (telecom company), Huobi, Binance, and others, it relies on this network of operators to source the data needed onchain. As node operators need to stake their tokens as collateral, it also challenges them to offer good performance. > > For example, Chainlink held an “oracle Olympics” challenging operators to keep their uptime at 100% while undergoing several challenges. While 100% is impossible, the winners guaranteed 99.99%, ensuring that their nodes would be available for that amount of time while still surviving thru challenges. > > **2. Chainlink’s recently launched Chainlink Staking v.0.1 allows users to stake their tokens while securing the networks' nodes.** > > While currently only supporting the ETH/USD data feed on mainnet Ethereum, other data feeds will soon be supported. Meanwhile, Staking 0.2 is planned in 9-12 months and is expected to bring updates and developments to staking, and also allow withdrawals of currently staked LINK. > > Just like traditional staking, this version allows users to secure the network; unlike POS blockchains, Chainlink doesn’t run on a blockchain so stakers secure by raising alerts (if the oracle doesn’t report an update in 3 hours, for example). If the alerts are valid, they can earn LINK, improving the security of the network by penalizing unresponsive nodes. > > Reputation systems for nodes have also been developed, ensuring that nodes maintain their good performance and continue providing correct oracle prices. > > These two systems combined ensure every node performs well and allow users in the ecosystem to earn rewards while securing the network. > > **In conclusion:** > > Chainlink Network and its token will continue its developments in the next years as the demand for oracles increases across the crypto space. Its' progress in its tokenomics with the start of staking while simultaneously ensuring the performance of its nodes will be welcomed by users of the network. And as more and more chains support Chainlink, it won't be long until it'll be found everywhere in DeFi and other sectors. > > TLDR: LINK and its network is used in many sectors of crypto, is secure, scalable, and reliable, while its' tokenomics continue to progress. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Chainlink) to find submissions for other topics.

Which benefits first from a spike in the price of BTC? WBTC or ETH? I think the bridge of WBTC would be first with a short delay to affect ETH. The bridge attempts to be as fast as possible and there are sell orders that counteract it back to the price of BTC, there are sell orders on ETH as well. So yea basically both.

Mentions:#BTC#WBTC#ETH

I imagine WBTC

Mentions:#WBTC

#Chainlink Pro-Arguments Below is a Chainlink pro-argument written by etj103007. > **What is Chainlink?** > > *Disclaimer: I have interacted with smart contracts using Chainlink, though I don’t hold any of the token itself.* > > Chainlink is an oracle network, allowing smart contracts to receive (and send) external information. In short, it allows the blockchain to interact with the outside world. > > It is supported on many different blockchains, including the Ethereum Mainnet, its L2s, and sidechains such as Polygon. > > However, the Chainlink network itself is not a blockchain. Instead, it calls itself “blockchain-agnostic” meaning it can theoretically be used on any chain that wants to support it. > > Say you want send 10$ of a coin or token to a certain address every day. Well, if it was a stablecoin, it’d be pretty easy. But maybe it’s Ethereum, or WBTC, or some other token that fluctuates in price. As such, the amount of said token/coin worth 10$ always changes. Using Chainlink, you can avail the price of that token/coin, and be able to calculate the exact amount to send so that it equals 10$. There are many other situations just like this that the Chainlink network is used for. > > The Chainlink token serves a niche; it is used to pay the node operators for the data they deliver. Recently, LINK staking has launched with the advent of Chainlink Staking v0.1. This allows operators and users to stake their LINK to secure the network. > > Chainlink is used as an oracle by various DeFi protocols like AAVE, dYdX, Synthetix, by various NFT projects such as those created by the NBA, even decentralized insurance (Etherisc) and more. ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)) > > # Pros of Chainlink (LINK) > > **1. Chainlink is secure, scalable, and reliable.** > > The nature of being a Chainlink node operator maintains these 3 qualities. Node operators are required to follow a set of guidelines for their nodes to ensure security. For example, nodes have to have backups for the nodes connecting to their data sources, snapshots of the chain for syncing, Ethereum to pay for gas, and more. > > Being decentralized and relying on the blockchain to secure the data feed transactions pretty much guarantees its security as well. > > Node operators also do their best to optimize the performance of their nodes and have also released multiple developments to increase scalability, such as the Off-Chain Reporting upgrade which has reduced operating costs by 90% ([https://blog.chain.link/off-chain-reporting-live-on-mainnet/](https://blog.chain.link/off-chain-reporting-live-on-mainnet/)) > > As said before, Chainlink (being based on smart contracts) can theoretically be used on any blockchain that wishes to adopt it. And with the use cases mentioned above ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)), the only thing it needs is developers willing to adopt it into their respective blockchains. > > The Chainlink network also prides itself on its reliability. Being serviced by independent and reputable node operators such as Infura, Swisscom (telecom company), Huobi, Binance, and others, it relies on this network of operators to source the data needed onchain. As node operators need to stake their tokens as collateral, it also challenges them to offer good performance. > > For example, Chainlink held an “oracle Olympics” challenging operators to keep their uptime at 100% while undergoing several challenges. While 100% is impossible, the winners guaranteed 99.99%, ensuring that their nodes would be available for that amount of time while still surviving thru challenges. > > **2. Chainlink’s recently launched Chainlink Staking v.0.1 allows users to stake their tokens while securing the networks' nodes.** > > While currently only supporting the ETH/USD data feed on mainnet Ethereum, other data feeds will soon be supported. Meanwhile, Staking 0.2 is planned in 9-12 months and is expected to bring updates and developments to staking, and also allow withdrawals of currently staked LINK. > > Just like traditional staking, this version allows users to secure the network; unlike POS blockchains, Chainlink doesn’t run on a blockchain so stakers secure by raising alerts (if the oracle doesn’t report an update in 3 hours, for example). If the alerts are valid, they can earn LINK, improving the security of the network by penalizing unresponsive nodes. > > Reputation systems for nodes have also been developed, ensuring that nodes maintain their good performance and continue providing correct oracle prices. > > These two systems combined ensure every node performs well and allow users in the ecosystem to earn rewards while securing the network. > > **In conclusion:** > > Chainlink Network and its token will continue its developments in the next years as the demand for oracles increases across the crypto space. Its' progress in its tokenomics with the start of staking while simultaneously ensuring the performance of its nodes will be welcomed by users of the network. And as more and more chains support Chainlink, it won't be long until it'll be found everywhere in DeFi and other sectors. > > TLDR: LINK and its network is used in many sectors of crypto, is secure, scalable, and reliable, while its' tokenomics continue to progress. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Chainlink) to find submissions for other topics.

r/BitcoinSee Comment

if you dont mind playing with DeFi you can convert that to WBTC on some exchange and deposit into something like Compound or Aave, borrow USDC/USDT against it, depost that back on an exchange, and withdraw i would not be comfortable with buying a house with any crypto money tho as you any lending platform might go out of business, regulations might force them to recall loans, etc. crypto moves way to fast to borrow against it without ability to repay quickly

r/BitcoinSee Comment

You can convert to WBTC and deposit to Compound or AAVE

Mentions:#WBTC#AAVE
r/BitcoinSee Comment

What about AAVE? But you have to swap for WBTC tho

Mentions:#AAVE#WBTC
r/CryptoMarketsSee Comment

#Chainlink Con-Arguments Below is a Chainlink con-argument written by etj103007. > **What is Chainlink?** > > *Disclaimer: I have interacted with smart contracts using Chainlink, though I don’t hold any of the token itself.* > > Chainlink is an oracle network, allowing smart contracts to receive (and send) external information. In short, it allows the blockchain to interact with the outside world. > > It is supported on many different blockchains, including the Ethereum Mainnet, its L2s, and sidechains such as Polygon. > > However, the Chainlink network itself is not a blockchain. Instead, it calls itself “blockchain-agnostic” meaning it can theoretically be used on any chain that wants to support it. > > Say you want send 10$ of a coin or token to a certain address every day. Well, if it was a stablecoin, it’d be pretty easy. But maybe it’s Ethereum, or WBTC, or some other token that fluctuates in price. As such, the amount of said token/coin worth 10$ always changes. Using Chainlink, you can avail the price of that token/coin, and be able to calculate the exact amount to send so that it equals 10$. There are many other situations just like this that the Chainlink network is used for. > > The Chainlink token serves a niche; it is used to pay the node operators for the data they deliver. Recently, LINK staking has launched with the advent of Chainlink Staking v0.1. This allows operators and users to stake their LINK to secure the network. > > Chainlink is used as an oracle by various DeFi protocols like AAVE, dYdX, Synthetix, by various NFT projects such as those created by the NBA, even decentralized insurance (Etherisc) and more. ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)) > > # Pros of Chainlink (LINK) > > **1. Chainlink is secure, scalable, and reliable.** > > The nature of being a Chainlink node operator maintains these 3 qualities. Node operators are required to follow a set of guidelines for their nodes to ensure security. For example, nodes have to have backups for the nodes connecting to their data sources, snapshots of the chain for syncing, Ethereum to pay for gas, and more. > > Being decentralized and relying on the blockchain to secure the data feed transactions pretty much guarantees its security as well. > > Node operators also do their best to optimize the performance of their nodes and have also released multiple developments to increase scalability, such as the Off-Chain Reporting upgrade which has reduced operating costs by 90% ([https://blog.chain.link/off-chain-reporting-live-on-mainnet/](https://blog.chain.link/off-chain-reporting-live-on-mainnet/)) > > As said before, Chainlink (being based on smart contracts) can theoretically be used on any blockchain that wishes to adopt it. And with the use cases mentioned above ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)), the only thing it needs is developers willing to adopt it into their respective blockchains. > > The Chainlink network also prides itself on its reliability. Being serviced by independent and reputable node operators such as Infura, Swisscom (telecom company), Huobi, Binance, and others, it relies on this network of operators to source the data needed onchain. As node operators need to stake their tokens as collateral, it also challenges them to offer good performance. > > For example, Chainlink held an “oracle Olympics” challenging operators to keep their uptime at 100% while undergoing several challenges. While 100% is impossible, the winners guaranteed 99.99%, ensuring that their nodes would be available for that amount of time while still surviving thru challenges. > > **2. Chainlink’s recently launched Chainlink Staking v.0.1 allows users to stake their tokens while securing the networks' nodes.** > > While currently only supporting the ETH/USD data feed on mainnet Ethereum, other data feeds will soon be supported. Meanwhile, Staking 0.2 is planned in 9-12 months and is expected to bring updates and developments to staking, and also allow withdrawals of currently staked LINK. > > Just like traditional staking, this version allows users to secure the network; unlike POS blockchains, Chainlink doesn’t run on a blockchain so stakers secure by raising alerts (if the oracle doesn’t report an update in 3 hours, for example). If the alerts are valid, they can earn LINK, improving the security of the network by penalizing unresponsive nodes. > > Reputation systems for nodes have also been developed, ensuring that nodes maintain their good performance and continue providing correct oracle prices. > > These two systems combined ensure every node performs well and allow users in the ecosystem to earn rewards while securing the network. > > **In conclusion:** > > Chainlink Network and its token will continue its developments in the next years as the demand for oracles increases across the crypto space. Its' progress in its tokenomics with the start of staking while simultaneously ensuring the performance of its nodes will be welcomed by users of the network. And as more and more chains support Chainlink, it won't be long until it'll be found everywhere in DeFi and other sectors. > > TLDR: LINK and its network is used in many sectors of crypto, is secure, scalable, and reliable, while its' tokenomics continue to progress. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Chainlink) to find submissions for other topics.

r/BitcoinSee Comment

If you're using small amounts anyway, why not buy WBTC on BSC or Polygon? Can store in USDC or PAXG until you're ready to buy.

r/CryptoCurrencySee Comment

Swapping 25% profits into into WBTC is solid. And keeping 25% in eth, 5% moon bag and rest stabled up like a horse on ketamine

Mentions:#WBTC
r/CryptoCurrencySee Comment

At least in the U.S., converting from one crypto to another is a disposition (“selling” for another coin). It’s not possible to repay the loan without a disposition taking place. For example, on AAVE you can borrow USDC against your WBTC, but paying it back with the WBTC is no different from swapping it to USDC — which is a taxable event. But the same thing happens if you borrow ETH against your WBTC and pay it back. It’s still a disposition. It’s the same as if you traded ETH/BTC on Binance, etc. It’s up to you to do the math and see if the capital gains works out in your favor with the interest. I actually used AAVE to borrow against ETH, wipe out my credit card with an interest rate that was criminal racketeering, and pay back the USDC loan at virtually no interest. In that instance, it worked in my favor. You’ll need a tax advisor to help you with yours. Best wishes.

r/CryptoCurrencySee Comment

compound.finance. WBTC and ETH as collateral, borrowing MKR and LINK. I got rekt.

r/CryptoCurrencySee Comment

There is WBTC, WETH, and more options on Secret Network.

Mentions:#WBTC#WETH
r/CryptoCurrencySee Comment

#Chainlink Pro-Arguments Below is a Chainlink pro-argument written by etj103007. > **What is Chainlink?** > > *Disclaimer: I have interacted with smart contracts using Chainlink, though I don’t hold any of the token itself.* > > Chainlink is an oracle network, allowing smart contracts to receive (and send) external information. In short, it allows the blockchain to interact with the outside world. > > It is supported on many different blockchains, including the Ethereum Mainnet, its L2s, and sidechains such as Polygon. > > However, the Chainlink network itself is not a blockchain. Instead, it calls itself “blockchain-agnostic” meaning it can theoretically be used on any chain that wants to support it. > > Say you want send 10$ of a coin or token to a certain address every day. Well, if it was a stablecoin, it’d be pretty easy. But maybe it’s Ethereum, or WBTC, or some other token that fluctuates in price. As such, the amount of said token/coin worth 10$ always changes. Using Chainlink, you can avail the price of that token/coin, and be able to calculate the exact amount to send so that it equals 10$. There are many other situations just like this that the Chainlink network is used for. > > The Chainlink token serves a niche; it is used to pay the node operators for the data they deliver. Recently, LINK staking has launched with the advent of Chainlink Staking v0.1. This allows operators and users to stake their LINK to secure the network. > > Chainlink is used as an oracle by various DeFi protocols like AAVE, dYdX, Synthetix, by various NFT projects such as those created by the NBA, even decentralized insurance (Etherisc) and more. ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)) > > # Pros of Chainlink (LINK) > > **1. Chainlink is secure, scalable, and reliable.** > > The nature of being a Chainlink node operator maintains these 3 qualities. Node operators are required to follow a set of guidelines for their nodes to ensure security. For example, nodes have to have backups for the nodes connecting to their data sources, snapshots of the chain for syncing, Ethereum to pay for gas, and more. > > Being decentralized and relying on the blockchain to secure the data feed transactions pretty much guarantees its security as well. > > Node operators also do their best to optimize the performance of their nodes and have also released multiple developments to increase scalability, such as the Off-Chain Reporting upgrade which has reduced operating costs by 90% ([https://blog.chain.link/off-chain-reporting-live-on-mainnet/](https://blog.chain.link/off-chain-reporting-live-on-mainnet/)) > > As said before, Chainlink (being based on smart contracts) can theoretically be used on any blockchain that wishes to adopt it. And with the use cases mentioned above ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)), the only thing it needs is developers willing to adopt it into their respective blockchains. > > The Chainlink network also prides itself on its reliability. Being serviced by independent and reputable node operators such as Infura, Swisscom (telecom company), Huobi, Binance, and others, it relies on this network of operators to source the data needed onchain. As node operators need to stake their tokens as collateral, it also challenges them to offer good performance. > > For example, Chainlink held an “oracle Olympics” challenging operators to keep their uptime at 100% while undergoing several challenges. While 100% is impossible, the winners guaranteed 99.99%, ensuring that their nodes would be available for that amount of time while still surviving thru challenges. > > **2. Chainlink’s recently launched Chainlink Staking v.0.1 allows users to stake their tokens while securing the networks' nodes.** > > While currently only supporting the ETH/USD data feed on mainnet Ethereum, other data feeds will soon be supported. Meanwhile, Staking 0.2 is planned in 9-12 months and is expected to bring updates and developments to staking, and also allow withdrawals of currently staked LINK. > > Just like traditional staking, this version allows users to secure the network; unlike POS blockchains, Chainlink doesn’t run on a blockchain so stakers secure by raising alerts (if the oracle doesn’t report an update in 3 hours, for example). If the alerts are valid, they can earn LINK, improving the security of the network by penalizing unresponsive nodes. > > Reputation systems for nodes have also been developed, ensuring that nodes maintain their good performance and continue providing correct oracle prices. > > These two systems combined ensure every node performs well and allow users in the ecosystem to earn rewards while securing the network. > > **In conclusion:** > > Chainlink Network and its token will continue its developments in the next years as the demand for oracles increases across the crypto space. Its' progress in its tokenomics with the start of staking while simultaneously ensuring the performance of its nodes will be welcomed by users of the network. And as more and more chains support Chainlink, it won't be long until it'll be found everywhere in DeFi and other sectors. > > TLDR: LINK and its network is used in many sectors of crypto, is secure, scalable, and reliable, while its' tokenomics continue to progress. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Chainlink) to find submissions for other topics.

r/CryptoCurrencySee Comment

#Chainlink Con-Arguments Below is a Chainlink con-argument written by etj103007. > **What is Chainlink?** > > *Disclaimer: I have interacted with smart contracts using Chainlink, though I don’t hold any of the token itself.* > > Chainlink is an oracle network, allowing smart contracts to receive (and send) external information. In short, it allows the blockchain to interact with the outside world. > > It is supported on many different blockchains, including the Ethereum Mainnet, its L2s, and sidechains such as Polygon. > > However, the Chainlink network itself is not a blockchain. Instead, it calls itself “blockchain-agnostic” meaning it can theoretically be used on any chain that wants to support it. > > Say you want send 10$ of a coin or token to a certain address every day. Well, if it was a stablecoin, it’d be pretty easy. But maybe it’s Ethereum, or WBTC, or some other token that fluctuates in price. As such, the amount of said token/coin worth 10$ always changes. Using Chainlink, you can avail the price of that token/coin, and be able to calculate the exact amount to send so that it equals 10$. There are many other situations just like this that the Chainlink network is used for. > > The Chainlink token serves a niche; it is used to pay the node operators for the data they deliver. Recently, LINK staking has launched with the advent of Chainlink Staking v0.1. This allows operators and users to stake their LINK to secure the network. > > Chainlink is used as an oracle by various DeFi protocols like AAVE, dYdX, Synthetix, by various NFT projects such as those created by the NBA, even decentralized insurance (Etherisc) and more. ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)) > > # Pros of Chainlink (LINK) > > **1. Chainlink is secure, scalable, and reliable.** > > The nature of being a Chainlink node operator maintains these 3 qualities. Node operators are required to follow a set of guidelines for their nodes to ensure security. For example, nodes have to have backups for the nodes connecting to their data sources, snapshots of the chain for syncing, Ethereum to pay for gas, and more. > > Being decentralized and relying on the blockchain to secure the data feed transactions pretty much guarantees its security as well. > > Node operators also do their best to optimize the performance of their nodes and have also released multiple developments to increase scalability, such as the Off-Chain Reporting upgrade which has reduced operating costs by 90% ([https://blog.chain.link/off-chain-reporting-live-on-mainnet/](https://blog.chain.link/off-chain-reporting-live-on-mainnet/)) > > As said before, Chainlink (being based on smart contracts) can theoretically be used on any blockchain that wishes to adopt it. And with the use cases mentioned above ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)), the only thing it needs is developers willing to adopt it into their respective blockchains. > > The Chainlink network also prides itself on its reliability. Being serviced by independent and reputable node operators such as Infura, Swisscom (telecom company), Huobi, Binance, and others, it relies on this network of operators to source the data needed onchain. As node operators need to stake their tokens as collateral, it also challenges them to offer good performance. > > For example, Chainlink held an “oracle Olympics” challenging operators to keep their uptime at 100% while undergoing several challenges. While 100% is impossible, the winners guaranteed 99.99%, ensuring that their nodes would be available for that amount of time while still surviving thru challenges. > > **2. Chainlink’s recently launched Chainlink Staking v.0.1 allows users to stake their tokens while securing the networks' nodes.** > > While currently only supporting the ETH/USD data feed on mainnet Ethereum, other data feeds will soon be supported. Meanwhile, Staking 0.2 is planned in 9-12 months and is expected to bring updates and developments to staking, and also allow withdrawals of currently staked LINK. > > Just like traditional staking, this version allows users to secure the network; unlike POS blockchains, Chainlink doesn’t run on a blockchain so stakers secure by raising alerts (if the oracle doesn’t report an update in 3 hours, for example). If the alerts are valid, they can earn LINK, improving the security of the network by penalizing unresponsive nodes. > > Reputation systems for nodes have also been developed, ensuring that nodes maintain their good performance and continue providing correct oracle prices. > > These two systems combined ensure every node performs well and allow users in the ecosystem to earn rewards while securing the network. > > **In conclusion:** > > Chainlink Network and its token will continue its developments in the next years as the demand for oracles increases across the crypto space. Its' progress in its tokenomics with the start of staking while simultaneously ensuring the performance of its nodes will be welcomed by users of the network. And as more and more chains support Chainlink, it won't be long until it'll be found everywhere in DeFi and other sectors. > > TLDR: LINK and its network is used in many sectors of crypto, is secure, scalable, and reliable, while its' tokenomics continue to progress. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Chainlink) to find submissions for other topics.

r/CryptoCurrencySee Comment

> Please let's discuss what's happening here because it seems like insider trading because it's never done such a huge burst and other cryptos don't even compare. We really gotta get over this *I don't follow the space or look up things. Also, anything I don't understand is probably insider trading, ponzi, scam, etc*. It's a legit L1. Top 10 TVL. You can use BTC in defi on it with good liquidity, low fees, and it isn't double bridged (BTC -> ETH as WBTC - > L2 or other L1 as Bridged WBTC) And it's up 10%. That's nice but 10% is far from some *OMG impossible move* in crypto movement. That's ETH going from $2k to $2.2k. BTC from $38k to $42k. Kinda feel like both of those actually happened in the past 7 days over a similar time span.

r/CryptoCurrencySee Comment

WBTC is safe. The risk comes from where you put that WBTC.

Mentions:#WBTC
r/CryptoCurrencySee Comment

#Chainlink Con-Arguments Below is a Chainlink con-argument written by etj103007. > **What is Chainlink?** > > *Disclaimer: I have interacted with smart contracts using Chainlink, though I don’t hold any of the token itself.* > > Chainlink is an oracle network, allowing smart contracts to receive (and send) external information. In short, it allows the blockchain to interact with the outside world. > > It is supported on many different blockchains, including the Ethereum Mainnet, its L2s, and sidechains such as Polygon. > > However, the Chainlink network itself is not a blockchain. Instead, it calls itself “blockchain-agnostic” meaning it can theoretically be used on any chain that wants to support it. > > Say you want send 10$ of a coin or token to a certain address every day. Well, if it was a stablecoin, it’d be pretty easy. But maybe it’s Ethereum, or WBTC, or some other token that fluctuates in price. As such, the amount of said token/coin worth 10$ always changes. Using Chainlink, you can avail the price of that token/coin, and be able to calculate the exact amount to send so that it equals 10$. There are many other situations just like this that the Chainlink network is used for. > > The Chainlink token serves a niche; it is used to pay the node operators for the data they deliver. Recently, LINK staking has launched with the advent of Chainlink Staking v0.1. This allows operators and users to stake their LINK to secure the network. > > Chainlink is used as an oracle by various DeFi protocols like AAVE, dYdX, Synthetix, by various NFT projects such as those created by the NBA, even decentralized insurance (Etherisc) and more. ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)) > > # Pros of Chainlink (LINK) > > **1. Chainlink is secure, scalable, and reliable.** > > The nature of being a Chainlink node operator maintains these 3 qualities. Node operators are required to follow a set of guidelines for their nodes to ensure security. For example, nodes have to have backups for the nodes connecting to their data sources, snapshots of the chain for syncing, Ethereum to pay for gas, and more. > > Being decentralized and relying on the blockchain to secure the data feed transactions pretty much guarantees its security as well. > > Node operators also do their best to optimize the performance of their nodes and have also released multiple developments to increase scalability, such as the Off-Chain Reporting upgrade which has reduced operating costs by 90% ([https://blog.chain.link/off-chain-reporting-live-on-mainnet/](https://blog.chain.link/off-chain-reporting-live-on-mainnet/)) > > As said before, Chainlink (being based on smart contracts) can theoretically be used on any blockchain that wishes to adopt it. And with the use cases mentioned above ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)), the only thing it needs is developers willing to adopt it into their respective blockchains. > > The Chainlink network also prides itself on its reliability. Being serviced by independent and reputable node operators such as Infura, Swisscom (telecom company), Huobi, Binance, and others, it relies on this network of operators to source the data needed onchain. As node operators need to stake their tokens as collateral, it also challenges them to offer good performance. > > For example, Chainlink held an “oracle Olympics” challenging operators to keep their uptime at 100% while undergoing several challenges. While 100% is impossible, the winners guaranteed 99.99%, ensuring that their nodes would be available for that amount of time while still surviving thru challenges. > > **2. Chainlink’s recently launched Chainlink Staking v.0.1 allows users to stake their tokens while securing the networks' nodes.** > > While currently only supporting the ETH/USD data feed on mainnet Ethereum, other data feeds will soon be supported. Meanwhile, Staking 0.2 is planned in 9-12 months and is expected to bring updates and developments to staking, and also allow withdrawals of currently staked LINK. > > Just like traditional staking, this version allows users to secure the network; unlike POS blockchains, Chainlink doesn’t run on a blockchain so stakers secure by raising alerts (if the oracle doesn’t report an update in 3 hours, for example). If the alerts are valid, they can earn LINK, improving the security of the network by penalizing unresponsive nodes. > > Reputation systems for nodes have also been developed, ensuring that nodes maintain their good performance and continue providing correct oracle prices. > > These two systems combined ensure every node performs well and allow users in the ecosystem to earn rewards while securing the network. > > **In conclusion:** > > Chainlink Network and its token will continue its developments in the next years as the demand for oracles increases across the crypto space. Its' progress in its tokenomics with the start of staking while simultaneously ensuring the performance of its nodes will be welcomed by users of the network. And as more and more chains support Chainlink, it won't be long until it'll be found everywhere in DeFi and other sectors. > > TLDR: LINK and its network is used in many sectors of crypto, is secure, scalable, and reliable, while its' tokenomics continue to progress. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Chainlink) to find submissions for other topics.

r/CryptoCurrencySee Comment

So i was trying to move some WBTC and swap to ETH but my transaction field and it says requires approval ? how can i do that, its just small amount like 100USD

Mentions:#WBTC#ETH
r/CryptoCurrencySee Comment

After reading all of your responses you are absolutely going to lose your money if you don’t STOP and learn the basics about how crypto works. You have a whole bunch of fundamental misunderstandings. A better word for “wallet” is “keychain.” It does not store your funds. It stores the *access* to your funds (your private key). Funds are on the blockchain, not the wallet. The wallet looks at the chain. Gas fees are a function of the chain, not the wallet. BTC has to be sent on the BTC chain and the fees to do so are a function of how busy the chain is. You pay ETH gas to move any erc20 token on ETH. You pay AVAX gas to move funds on Avalanche. You pay MATIC gas to move funds on Polygon. MetaMask can interact with many chains. By default it only has the ETH layer 1. But you can add BNB, Polygon, Arbitrum, Avalanche, etc. Adding the RPC to your MetaMask allows you to use those chains. It does facilitate sending ETH on the BRC network. To move a token from its native chain to another, it must be bridged. A bridge locks up assets on one chain and gives you a wrapped version on the new chain (eg BTC on the bitcoin network to WBTC on Ethereum). Tokens MUST be sent on their native chain. If you try to send ETH to a BTC address without bridging, it’s gone forever. Did you catch that part? This is why you are at high risk of losing your funds right now. Based on your responses, you are trying very hard to do something that will burn those tokens for good. Stop. Learn about the differences between wallets, chains, and tokens. Don’t try to send anything until you learn exactly what you want to do and how that is done. If you experiment the way you are going, you’re going to burn your assets.

r/CryptoCurrencySee Comment

You're very absolutist about this. I'm not a fan of WBTC either personally but I'm not heavily into defi. There are some yield farmers though that make great returns doing it. I guess to each their own. Do you say the same about staking?

Mentions:#WBTC
r/CryptoCurrencySee Comment

Bitcoin “yield” is not a thing. Earning yield in any way is extremely risky. WBTC is just another shitcoin, not BTC.

Mentions:#WBTC#BTC
r/CryptoCurrencySee Comment

WBTC is useful for some who want to gain access to staking their BTC in a pool without selling their BTC. ...but yeah otherwise, just get BTC. Theres no real point wrapping it unless you're in defi

Mentions:#WBTC#BTC
r/CryptoCurrencySee Comment

WBTC is not BTC. WBTC is little more than a meme coin.

Mentions:#WBTC#BTC
r/CryptoCurrencySee Comment

Hello, im new here, i got couple questions : First i have 300 ERC USDT , is it worth to invest in WBTC now aka convert my money to WBTC and store them? second, i just knew and read about moon coins of reddit, do i get those coins just by participating in r/cryptocurrency ? or it applies in other subreddits as well ?

Mentions:#USDT#WBTC
r/CryptoCurrencySee Comment

Yeah you'll be fine as long as you stop using USDT, DAI, WBTC, and WAXL. Those will not be tradeable sometime in December I think. Cashing out is no issue with CAD.

r/CryptoCurrencySee Comment

WBTC is not BTC. Never use WBTC.

Mentions:#WBTC#BTC
r/CryptoCurrencySee Comment

AAVE. But it requires swapping BTC to WBTC. I'd say the main risk would therefore be the exposure to WBTC and its associated risks.

r/BitcoinSee Comment

Wrong. What's shown in this graphic is actual Bitcoin, on the Bitcoin blockchain. It's just locked on addresses from which you can only spend by burning the same amount of WBTC, an ERC20 token on another blockchain (ex. Ethereum). And WBTC can only be obtained by locking the same amount of actual BTC. That's called being backed 1:1. See how it works on https://wbtc.network

Mentions:#WBTC#BTC
r/CryptoCurrencySee Comment

#Chainlink Con-Arguments Below is a Chainlink con-argument written by etj103007. > **What is Chainlink?** > > *Disclaimer: I have interacted with smart contracts using Chainlink, though I don’t hold any of the token itself.* > > Chainlink is an oracle network, allowing smart contracts to receive (and send) external information. In short, it allows the blockchain to interact with the outside world. > > It is supported on many different blockchains, including the Ethereum Mainnet, its L2s, and sidechains such as Polygon. > > However, the Chainlink network itself is not a blockchain. Instead, it calls itself “blockchain-agnostic” meaning it can theoretically be used on any chain that wants to support it. > > Say you want send 10$ of a coin or token to a certain address every day. Well, if it was a stablecoin, it’d be pretty easy. But maybe it’s Ethereum, or WBTC, or some other token that fluctuates in price. As such, the amount of said token/coin worth 10$ always changes. Using Chainlink, you can avail the price of that token/coin, and be able to calculate the exact amount to send so that it equals 10$. There are many other situations just like this that the Chainlink network is used for. > > The Chainlink token serves a niche; it is used to pay the node operators for the data they deliver. Recently, LINK staking has launched with the advent of Chainlink Staking v0.1. This allows operators and users to stake their LINK to secure the network. > > Chainlink is used as an oracle by various DeFi protocols like AAVE, dYdX, Synthetix, by various NFT projects such as those created by the NBA, even decentralized insurance (Etherisc) and more. ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)) > > # Pros of Chainlink (LINK) > > **1. Chainlink is secure, scalable, and reliable.** > > The nature of being a Chainlink node operator maintains these 3 qualities. Node operators are required to follow a set of guidelines for their nodes to ensure security. For example, nodes have to have backups for the nodes connecting to their data sources, snapshots of the chain for syncing, Ethereum to pay for gas, and more. > > Being decentralized and relying on the blockchain to secure the data feed transactions pretty much guarantees its security as well. > > Node operators also do their best to optimize the performance of their nodes and have also released multiple developments to increase scalability, such as the Off-Chain Reporting upgrade which has reduced operating costs by 90% ([https://blog.chain.link/off-chain-reporting-live-on-mainnet/](https://blog.chain.link/off-chain-reporting-live-on-mainnet/)) > > As said before, Chainlink (being based on smart contracts) can theoretically be used on any blockchain that wishes to adopt it. And with the use cases mentioned above ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)), the only thing it needs is developers willing to adopt it into their respective blockchains. > > The Chainlink network also prides itself on its reliability. Being serviced by independent and reputable node operators such as Infura, Swisscom (telecom company), Huobi, Binance, and others, it relies on this network of operators to source the data needed onchain. As node operators need to stake their tokens as collateral, it also challenges them to offer good performance. > > For example, Chainlink held an “oracle Olympics” challenging operators to keep their uptime at 100% while undergoing several challenges. While 100% is impossible, the winners guaranteed 99.99%, ensuring that their nodes would be available for that amount of time while still surviving thru challenges. > > **2. Chainlink’s recently launched Chainlink Staking v.0.1 allows users to stake their tokens while securing the networks' nodes.** > > While currently only supporting the ETH/USD data feed on mainnet Ethereum, other data feeds will soon be supported. Meanwhile, Staking 0.2 is planned in 9-12 months and is expected to bring updates and developments to staking, and also allow withdrawals of currently staked LINK. > > Just like traditional staking, this version allows users to secure the network; unlike POS blockchains, Chainlink doesn’t run on a blockchain so stakers secure by raising alerts (if the oracle doesn’t report an update in 3 hours, for example). If the alerts are valid, they can earn LINK, improving the security of the network by penalizing unresponsive nodes. > > Reputation systems for nodes have also been developed, ensuring that nodes maintain their good performance and continue providing correct oracle prices. > > These two systems combined ensure every node performs well and allow users in the ecosystem to earn rewards while securing the network. > > **In conclusion:** > > Chainlink Network and its token will continue its developments in the next years as the demand for oracles increases across the crypto space. Its' progress in its tokenomics with the start of staking while simultaneously ensuring the performance of its nodes will be welcomed by users of the network. And as more and more chains support Chainlink, it won't be long until it'll be found everywhere in DeFi and other sectors. > > TLDR: LINK and its network is used in many sectors of crypto, is secure, scalable, and reliable, while its' tokenomics continue to progress. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Chainlink) to find submissions for other topics.

r/CryptoCurrencySee Comment

#Chainlink Pro-Arguments Below is a Chainlink pro-argument written by etj103007. > **What is Chainlink?** > > *Disclaimer: I have interacted with smart contracts using Chainlink, though I don’t hold any of the token itself.* > > Chainlink is an oracle network, allowing smart contracts to receive (and send) external information. In short, it allows the blockchain to interact with the outside world. > > It is supported on many different blockchains, including the Ethereum Mainnet, its L2s, and sidechains such as Polygon. > > However, the Chainlink network itself is not a blockchain. Instead, it calls itself “blockchain-agnostic” meaning it can theoretically be used on any chain that wants to support it. > > Say you want send 10$ of a coin or token to a certain address every day. Well, if it was a stablecoin, it’d be pretty easy. But maybe it’s Ethereum, or WBTC, or some other token that fluctuates in price. As such, the amount of said token/coin worth 10$ always changes. Using Chainlink, you can avail the price of that token/coin, and be able to calculate the exact amount to send so that it equals 10$. There are many other situations just like this that the Chainlink network is used for. > > The Chainlink token serves a niche; it is used to pay the node operators for the data they deliver. Recently, LINK staking has launched with the advent of Chainlink Staking v0.1. This allows operators and users to stake their LINK to secure the network. > > Chainlink is used as an oracle by various DeFi protocols like AAVE, dYdX, Synthetix, by various NFT projects such as those created by the NBA, even decentralized insurance (Etherisc) and more. ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)) > > # Pros of Chainlink (LINK) > > **1. Chainlink is secure, scalable, and reliable.** > > The nature of being a Chainlink node operator maintains these 3 qualities. Node operators are required to follow a set of guidelines for their nodes to ensure security. For example, nodes have to have backups for the nodes connecting to their data sources, snapshots of the chain for syncing, Ethereum to pay for gas, and more. > > Being decentralized and relying on the blockchain to secure the data feed transactions pretty much guarantees its security as well. > > Node operators also do their best to optimize the performance of their nodes and have also released multiple developments to increase scalability, such as the Off-Chain Reporting upgrade which has reduced operating costs by 90% ([https://blog.chain.link/off-chain-reporting-live-on-mainnet/](https://blog.chain.link/off-chain-reporting-live-on-mainnet/)) > > As said before, Chainlink (being based on smart contracts) can theoretically be used on any blockchain that wishes to adopt it. And with the use cases mentioned above ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)), the only thing it needs is developers willing to adopt it into their respective blockchains. > > The Chainlink network also prides itself on its reliability. Being serviced by independent and reputable node operators such as Infura, Swisscom (telecom company), Huobi, Binance, and others, it relies on this network of operators to source the data needed onchain. As node operators need to stake their tokens as collateral, it also challenges them to offer good performance. > > For example, Chainlink held an “oracle Olympics” challenging operators to keep their uptime at 100% while undergoing several challenges. While 100% is impossible, the winners guaranteed 99.99%, ensuring that their nodes would be available for that amount of time while still surviving thru challenges. > > **2. Chainlink’s recently launched Chainlink Staking v.0.1 allows users to stake their tokens while securing the networks' nodes.** > > While currently only supporting the ETH/USD data feed on mainnet Ethereum, other data feeds will soon be supported. Meanwhile, Staking 0.2 is planned in 9-12 months and is expected to bring updates and developments to staking, and also allow withdrawals of currently staked LINK. > > Just like traditional staking, this version allows users to secure the network; unlike POS blockchains, Chainlink doesn’t run on a blockchain so stakers secure by raising alerts (if the oracle doesn’t report an update in 3 hours, for example). If the alerts are valid, they can earn LINK, improving the security of the network by penalizing unresponsive nodes. > > Reputation systems for nodes have also been developed, ensuring that nodes maintain their good performance and continue providing correct oracle prices. > > These two systems combined ensure every node performs well and allow users in the ecosystem to earn rewards while securing the network. > > **In conclusion:** > > Chainlink Network and its token will continue its developments in the next years as the demand for oracles increases across the crypto space. Its' progress in its tokenomics with the start of staking while simultaneously ensuring the performance of its nodes will be welcomed by users of the network. And as more and more chains support Chainlink, it won't be long until it'll be found everywhere in DeFi and other sectors. > > TLDR: LINK and its network is used in many sectors of crypto, is secure, scalable, and reliable, while its' tokenomics continue to progress. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Chainlink) to find submissions for other topics.

r/CryptoCurrencySee Comment

> Why? Just because it makes you feel sad otherwise? It should make you sad that the "world computer" (and its users who once derided L2 on Bitcoin) is now reliant on second layers to compensate for its inability to scale and its huge fees. Scalibity and low fees being two advantages it was supposed to have over Bitcoin. >A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. And where is throughput or value mentioned there? >The fact that you don't isn't a reason to ignore them! I never said that. Tether or other stablecoins are returning to Bitcoin by the way. And there are BRC-20 tokens and Taproot Assets. >WBTC moving on Ethereum WBTC and other flavours of this type of thing is not Bitcoin. Lightning uses actual Bitcoin.

Mentions:#WBTC
r/CryptoCurrencySee Comment

> As it should do. Why? Just because it makes you feel sad otherwise? The start of Satoshi's whitepaper is: *A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.* Even in your holiest of texts there is no indication that peer-to-peer transfer of value should only count if it's in a particular asset. I said: **It moves vastly more value in simple transfers than any other chain** - not *It moves vastly more ETH...* - clearly lots of people like sending stablecoins and wrapped assets. The fact that you don't isn't a reason to ignore them! > Where are the assets on Lightning, Liquid etc? They are irrelevantly small, we can count them if you like. There are only about $200M worth of BTC on Lightning: https://bitcoinvisuals.com/ln-capacity So even if every single sat on there moved twice a day it would be nowhere near as much transfer volume as just WBTC on Ethereum. In order for Bitcoin to match Ethereum L1's daily transfer volume you'd need the entire capacity of Lightning to be transferred from person to person 81x per day! Plus, I really don't think you want to start bringing L2s into the comparison, considering there is almost twice as much Bitcoin Arbitrum (just one of Ethereum's L2s) as there is on Lightning: https://arbiscan.io/token/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f Liquid L-BTC has a total of 3,570 bitcoin, so even smaller and more irrelevant than Lightning.

Mentions:#ETH#BTC#WBTC
r/CryptoCurrencySee Comment

Effectively every time you do something like turn ETH into WETH or BTC into WBTC they want it to be a taxable event. That’s nuts.

r/CryptoCurrencySee Comment

>I mean once bitcoin has an equivalent L2 I mean without fundamental redesign of the bitcoin code, this is most likely to be an EVM L2 or Ethereum itself with WBTC.

Mentions:#EVM#WBTC
r/CryptoCurrencySee Comment

> Isn't that what btc does? Yea, that's line one of Satoshi's whitepaper. > Your chart includes USDC, USDT, DAI, WETH and WBTC. Yea, we're talking about what the network does in terms of transferring value between people. If people are using it to move stablecoins and wrapped ETH/ BTC then that's the kind of value they want to transfer. > You still haven't described a problem that ETH is solving. That was why I included the whitepaper quote, it's a really clear and succinct statement of that use case.

r/CryptoCurrencySee Comment

Isn't that what btc does? Your chart includes USDC, USDT, DAI, WETH and WBTC. A purley ETH v BTC comparison still favors BTC. You still haven't described a problem that ETH is solving. If your answer is just, "it's btc but better" then I guess we haven't really gotten anywhere.

r/CryptoCurrencySee Comment

Just use WBTC ... forget the blockstream crippled blockchain.

Mentions:#WBTC
r/CryptoCurrencySee Comment

#Chainlink Pro-Arguments Below is a Chainlink pro-argument written by etj103007. > **What is Chainlink?** > > *Disclaimer: I have interacted with smart contracts using Chainlink, though I don’t hold any of the token itself.* > > Chainlink is an oracle network, allowing smart contracts to receive (and send) external information. In short, it allows the blockchain to interact with the outside world. > > It is supported on many different blockchains, including the Ethereum Mainnet, its L2s, and sidechains such as Polygon. > > However, the Chainlink network itself is not a blockchain. Instead, it calls itself “blockchain-agnostic” meaning it can theoretically be used on any chain that wants to support it. > > Say you want send 10$ of a coin or token to a certain address every day. Well, if it was a stablecoin, it’d be pretty easy. But maybe it’s Ethereum, or WBTC, or some other token that fluctuates in price. As such, the amount of said token/coin worth 10$ always changes. Using Chainlink, you can avail the price of that token/coin, and be able to calculate the exact amount to send so that it equals 10$. There are many other situations just like this that the Chainlink network is used for. > > The Chainlink token serves a niche; it is used to pay the node operators for the data they deliver. Recently, LINK staking has launched with the advent of Chainlink Staking v0.1. This allows operators and users to stake their LINK to secure the network. > > Chainlink is used as an oracle by various DeFi protocols like AAVE, dYdX, Synthetix, by various NFT projects such as those created by the NBA, even decentralized insurance (Etherisc) and more. ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)) > > # Pros of Chainlink (LINK) > > **1. Chainlink is secure, scalable, and reliable.** > > The nature of being a Chainlink node operator maintains these 3 qualities. Node operators are required to follow a set of guidelines for their nodes to ensure security. For example, nodes have to have backups for the nodes connecting to their data sources, snapshots of the chain for syncing, Ethereum to pay for gas, and more. > > Being decentralized and relying on the blockchain to secure the data feed transactions pretty much guarantees its security as well. > > Node operators also do their best to optimize the performance of their nodes and have also released multiple developments to increase scalability, such as the Off-Chain Reporting upgrade which has reduced operating costs by 90% ([https://blog.chain.link/off-chain-reporting-live-on-mainnet/](https://blog.chain.link/off-chain-reporting-live-on-mainnet/)) > > As said before, Chainlink (being based on smart contracts) can theoretically be used on any blockchain that wishes to adopt it. And with the use cases mentioned above ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)), the only thing it needs is developers willing to adopt it into their respective blockchains. > > The Chainlink network also prides itself on its reliability. Being serviced by independent and reputable node operators such as Infura, Swisscom (telecom company), Huobi, Binance, and others, it relies on this network of operators to source the data needed onchain. As node operators need to stake their tokens as collateral, it also challenges them to offer good performance. > > For example, Chainlink held an “oracle Olympics” challenging operators to keep their uptime at 100% while undergoing several challenges. While 100% is impossible, the winners guaranteed 99.99%, ensuring that their nodes would be available for that amount of time while still surviving thru challenges. > > **2. Chainlink’s recently launched Chainlink Staking v.0.1 allows users to stake their tokens while securing the networks' nodes.** > > While currently only supporting the ETH/USD data feed on mainnet Ethereum, other data feeds will soon be supported. Meanwhile, Staking 0.2 is planned in 9-12 months and is expected to bring updates and developments to staking, and also allow withdrawals of currently staked LINK. > > Just like traditional staking, this version allows users to secure the network; unlike POS blockchains, Chainlink doesn’t run on a blockchain so stakers secure by raising alerts (if the oracle doesn’t report an update in 3 hours, for example). If the alerts are valid, they can earn LINK, improving the security of the network by penalizing unresponsive nodes. > > Reputation systems for nodes have also been developed, ensuring that nodes maintain their good performance and continue providing correct oracle prices. > > These two systems combined ensure every node performs well and allow users in the ecosystem to earn rewards while securing the network. > > **In conclusion:** > > Chainlink Network and its token will continue its developments in the next years as the demand for oracles increases across the crypto space. Its' progress in its tokenomics with the start of staking while simultaneously ensuring the performance of its nodes will be welcomed by users of the network. And as more and more chains support Chainlink, it won't be long until it'll be found everywhere in DeFi and other sectors. > > TLDR: LINK and its network is used in many sectors of crypto, is secure, scalable, and reliable, while its' tokenomics continue to progress. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Chainlink) to find submissions for other topics.

r/CryptoCurrencySee Comment

#Chainlink Pro-Arguments Below is a Chainlink pro-argument written by etj103007. > **What is Chainlink?** > > *Disclaimer: I have interacted with smart contracts using Chainlink, though I don’t hold any of the token itself.* > > Chainlink is an oracle network, allowing smart contracts to receive (and send) external information. In short, it allows the blockchain to interact with the outside world. > > It is supported on many different blockchains, including the Ethereum Mainnet, its L2s, and sidechains such as Polygon. > > However, the Chainlink network itself is not a blockchain. Instead, it calls itself “blockchain-agnostic” meaning it can theoretically be used on any chain that wants to support it. > > Say you want send 10$ of a coin or token to a certain address every day. Well, if it was a stablecoin, it’d be pretty easy. But maybe it’s Ethereum, or WBTC, or some other token that fluctuates in price. As such, the amount of said token/coin worth 10$ always changes. Using Chainlink, you can avail the price of that token/coin, and be able to calculate the exact amount to send so that it equals 10$. There are many other situations just like this that the Chainlink network is used for. > > The Chainlink token serves a niche; it is used to pay the node operators for the data they deliver. Recently, LINK staking has launched with the advent of Chainlink Staking v0.1. This allows operators and users to stake their LINK to secure the network. > > Chainlink is used as an oracle by various DeFi protocols like AAVE, dYdX, Synthetix, by various NFT projects such as those created by the NBA, even decentralized insurance (Etherisc) and more. ([https://blog.chain.link/smart-contract-use-cases/](https://blog.chain.link/smart-contract-use-cases/)) > > # Pros of Chainlink (LINK) > > **1. Chainlink is secure, scalable, and reliable.** > > The nature of being a Chainlink node operator maintains these 3 qualities. Node operators are required to follow a set of guidelines for their nodes to ensure security. For example, nodes have to have backups for the nodes connecting to their data sources, snapshots of the chain for syncing, Ethereum to pay for gas, and more. > > Being decentralized and relying on the blockchain to secure the data feed transactions pretty much guarantees its security as well. > > Node operators also do their best to optimize the performance of their nodes and have also released multiple developments to increase scalability, such as the Off-Chain Reporting upgrade which has reduced operating costs by 90% ([https://blog.chain.link/off-chain-reporting-live-on-mainnet/](https://blog.chain.link/off-chain-re