WBTC

KindDelay

Not native bitcoin, but there are tons of lending protocols on networks that you can wrap your bitcoin by swapping BTC for WBTC on an exchange, then sending it to said network. You then can deposit wbtc on the lending platform to get yield from your BTC. This is the main reason why all the dumb altcoins move when bitcoin moves. Tons of these altcoins are just copy and paste versions of the others and full of defi ponzi schemes. Most of these bitcoiners don't know that, but it also creates tons of fake volume and makes it no different than the USD.

seb7mad

The wording is weird. Then can freeze (prevent from being transferred) USDT tokens from any wallet, and most ERC-20 tokens works this way (USDC, WBTC, etc.) No one can freeze native ETH or other tokens of they don’t control the contract

DreamingTooLong

Someone gets paid in USDT. They have the choice of switching it to Lightning Bitcoin, or WBTC or BTC All 3 share the same market value. Each different transactions speed and different levels of privacy and different levels of being secure. There isn’t a one shoe size fits all. People are free to transact bitcoin however they choose. Some people purchase right through Fidelity because that’s where they store all their money. That’s not really bitcoin though, it’s just an easy way to invest in it.

DreamingTooLong

BTC provides a pegged price for people that trade WBTC and USDT back and forth. Also, lightning network transactions are considerably private if you are running your own node. Strike, CashApp, Kraken, and Bitrefill are 4 locations that I know of that are using lightning.

snek_oil_

I made a $100 buy of every coin in the top 25 except WBTC and STETH. Let's see which will perform best. I plan to sell once BTC reach >$70k.

CoysNizl3

Since nobody is giving you a straight answer to your question here... You will want to bride your BTC to ETH for some WBTC and the use one of the many lending platforms there. I would recommend and older and established name like AAVE. Good luck.

GoodSamoSamo

In the past week alone: - SOL ETF application mania started with applications from VanEck, ARK + 21 Shares - Worldcoin expands to Solana - $60M Fund to Accelerate Solana Startups - SOL Stablecoin Supply increasing - Pantera Capital calls Solana the Mac OS of Blockchains - Accelerating crypto distribution through Blinks - Sanctum Profiles to allow anyone to launch LSTs - Jupiter ships V3 and is openly suggesting token supply cuts - Perp DEX Volumes reaching new highs - WBTC live on Solana through Wormhole - Pumpdotfun flipped SOL in 24h revenue - ZK compression on Solana, meaning onchain state to get 10,000x scale improvements and Solana is 1 step closer to building The Financial Computer On top of that, Solana DEX volume continues to flip Ethereum in virtually every metric... TPS, # of transactions, DEX volume, NFT volume, etc. Second validator client coming in September by Jump Crypto, that'll put to rest "outage" FUD and also catapult TPS to potentially consistently 10s of thousands of transactions per second (currently does 800 - 900 non-vote TPS). Ppl going to keep capitulating to Solana and haters will regret not having an open mind.

CointestMod

#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.

CointestMod

#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.

CointestMod

#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.

CointestMod

#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.

CointestMod

#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.

ambitionlless

WBTC is custodial

coinfeeds-bot

tldr; UwU Lend, a DeFi protocol co-founded by Michael “Sifu” Patryn, experienced a $19.3 million exploit. A single wallet extracted various tokens, including WETH and WBTC, and traded them on Uniswap. The method of the exploit is currently unknown. UwU Lend, which offers lending, borrowing, and asset management, had prioritized security with code forked from AAVE V2 and underwent audits. The protocol has not yet issued an official statement regarding the incident. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Somebody__Online

You can participate in a Liquidity Pool For example supply WBTC and USDC to uniswap between $60k and 75k If the price falls below 60k your lp is 100% in WBTC. When it is above 75k your 100% in USDC. The Lp automatically trades back and forth within the range as the price moves with every single trade that goes through the pool at uniswap. You earn fees payed to the Lp as well as farm incentives if you know where to look. Hint: check on Merkel to see uniswap Lp incentive campaigns.

genuin3

An idiot that calls Metamask a "bitcoin wallet" and then claims he bought WBTC to save his sorry ass - is not that sophisticated unfortunately

genuin3

You guys realize blockchain is fully transparent and this 4 million WBTC wallet would be visible for anyone to see. Just check the top holders for WBTC around 4 mill of value [here](https://etherscan.io/token/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599#balances). There are only a handful! Spoiler: OP is obviously a liar. Accommodating for price fluctuations of +-10% -》no (new) wallet with a recent transfer of 3.6-4.4 mill in WBTC exists (OR recent wallets with just that amount in WBTC - and no other assets - for that matter).

Ruzhyo04

The point stands that Bitcoin is extremely traceable. It’s also expensive to transfer, so if the buyer accepts something else you t want to try that. Monero and Zcash are more private. Arbitrum, Solana, and other networks are much cheaper to use and also support USDT, WBTC, or anything else the buyer wants.

anarcap

The ones above are both bitcoin. There are also others that are not bitcoin, but tokens that represent bitcoin (WBTC, BBTC, etc). Your question is great. The answer is not simply. It is a good idea to spend some time learning about it, so you won't get scammed.

EmpyYoutube

Axion, has a 15 year stake option. You earn WBTC on your staked coins.

alterise

loads. dexes, lending markets... Ethereum and its L2s make up almost 3/4 of all DeFi tvl. https://defillama.com/chains In fact, lots of bitcoin are wrapped on ethereum as WBTC to be used as collateral in DeFi (currently about 10.6b mc).

DreamingTooLong

Spot Ethereum ETF is good for WBTC Anything good for WBTC is good for Bitcoin. LTC back in May 2017 was the third coin to get listed on Coinbase and they will probably be the third coin to make spot ETF.

CointestMod

#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.

SunliMin

It feels like context is needed here, both in that article, the title and comments. There are not "over 2.4m crypto projects". There are over 2.4m ERC20, ERC721 and ERC1155 contracts deployed. When a new ABC token comes out and someone makes a liquidity pool of it and WETH, that pool that was deployed is a new token being tracked, same with the ABC:WBTC, ABC:DAI, etc, each new pool gives you a token that is effectively your receipt to track how much you own of the backed assets for the withdraw, and that receipt is a contract per pool per defi app. This is also true with any form of staking. Defi apps use other tokens as receipts, but it does not make each of those token its own "project". Theres also the case that not every contract that exists is even built to be used. These numbers include Polygon and other sidechains. As a dev in this space, I have deployed probably... 30 or 40 NFT contracts to that blockchain. These aren't monkey NFTs to be traded, they are underlying infrastructure of our core products. In fact, at my current job, our NFTs are built to fail to transfer if it detects its being transferred by a 3rd party contract, because we explicitly do NOT want it to get picked up by defi apps, because our use case is not the average token use case, and it would go against our goals. All that is to say, this 2.4m number is wrong. If by "projects" they meant "dapp", the number is inflated at least 10:1, but probably closer to 50:1. For example, Uniswap V3 on mainnet Ethereum has 958 markets, so the 3rd version of Uniswap on one network accounts for nearly 1,000 of these "projects". Now imagine this for every version of Uniswap, across every chain, including every fork. Now imagine that same logic, but applied to Compound Finance, AAVE, every single Defi app on every chain and every fork. Easily hundreds of thousands are just from those big defi apps and clones alone.

trizest

I have been holding a fairly sizable position using AAVE. It’s like 1.5X leverage for WBTC. The reason I use aave is because of the relatively low cost of around 10% per year. I’ve found a lot of exchanges are above 30%. Which is quite a lot really. As to whether it’s a good idea? Probably not for most people. I do one big trade every few years with lots of thought going into this. Understand fully the risks and would be ok with a full liquidation.

Abby1994_21

Few things to consider 1. When you wrap your bitcoin you are giving away custody of your bitcoin for a WBTC. 2. It would be good to know why you are wrapping is it because you want to perform some actions on ETH layer or is it just to hold WBTC, If its just holding wbtc then i would say just hold the real asset which is wbtc. I have no experience in weth so cannot say anything about it.

ross_st

The address poisoning phisher airdropped the fake ERC-20 token to thousands of addresses. Committing attempted fraud against thousands of targets is a lot of effort for someone to go to if they're only pretending to be scammed. And the reason the victim reused the address is that he was setting up a Uniswap liquidity pool. The first transaction was him depositing some DAI for one side of the pair. The second transaction was meant to be WBTC for the other side. He had to reuse the address by the very nature of what he was doing.

CointestMod

#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.

ross_st

That wasn't a test transaction. It was the victim trying to set up a Uniswap liquidity pool with a small amount of DAI on one side and a large amount of WBTC on the other. That's why it took the victim like a day to even notice it had happened.

ross_st

He wasn't sending a test transaction. He had sent a small amount of DAI to a Uniswap liquidity pool and was following up with a large amount of WBTC.

TheoryZealousideal63

The scammer was monitoring the 68M address. When the victim send a 0.5 transaction to test WBTC address a bot send a transaction to the victim with the same amount but a fake address. The victim copy and past last transaction with fake address

Hunter-North

No, that’s not it. The scammer creates a fake erc-20 token contract, fill the victim’s address with such token, then makes a txn that sends such token (says fake WBTC) FROM the victim’s address to the target wallet (scammer’s lookalike wallet). On etherscan for example, under transfers you will see, very convincingly, that the victim just sent WBTC from his wallet to the scammer’s wallet. This attack is easy to fall for because at first glance, it looks like you did send legit tokens from your wallet to that target wallet (scammer’s). It targets exactly people who usually send a test transaction first, then copy the address to do an actual transaction.

Slick424

>when double check , check first 6 front and last 4 digits. That's how they got him >*The fraudster created a new address with the same starting and ending letters and transferred 0 ETH to himself, thus making the transfer appear in the transaction history. >*Many wallets hide the middle part of the address with “…” to make the user interface look better. >*When the whale wanted to transfer WBTC to its new address, it accidentally copied the address created by the fraudster (because the starting and ending letters of the 2 addresses are the same) and sent all WBTC to the fraudster. https://www.binance.com/en/square/post/7615340792674

coinfeeds-bot

tldr; A crypto investor lost over $71 million by sending 1,155 Wrapped Bitcoin (WBTC) to a scammer's address due to a poisoned address attack. This phishing method involves scammers creating addresses that mimic legitimate ones, tricking victims into sending funds. The scammer has already transferred the WBTC to various wallets and converted them to Wrapped Ether (WETH). *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Awkward_Potential_

I trade shitcoins for WBTC and then bridge it to real BTC when I get a chunk. My $350 Jeo Boden investment got me $3500 BTC and still have $800 Boden.

CointestMod

#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.

CointestMod

#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.

CointestMod

#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.

Traditional_Motor_51

Just swapped $300 worth of USDC for WBTC. It's small but that's the best I can afford right now.

Somebody__Online

Trust wallet has its own fees on top of network fees for trading. You can send Bitcoin from one wallet to another but trading bitcoins to another token requires some sort of middleman. Either an exchange or an atomic swap protocol, or even a wrapper. You can use a wrapping protocol to move bitcoins onto the Ethereum network. Then you can trade the WBTC or tBTC or whatever wrapped token you now have and swap it for other tokens. From the Ethereum main net you can also move onto layer 2 chains with your wrapped Bitcoin and trade on dexs like uniswap

PinkMoonLander

Thanks but it won't even show a conversion rate. Tried Tether, WBTC, ETH, etc. Other swaps show the conversion rate instantly

CointestMod

#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.

CointestMod

#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.

ross_st

What KuCoin does if you request a withdrawal like this is to send their own WBTC ERC-20 token. That'll be the transaction that went through. It'll be one of these: [https://scan.kcc.io/token/0x218c3c3D49d0E7B37aff0D8bB079de36Ae61A4c0/token-transfers](https://scan.kcc.io/token/0x218c3c3D49d0E7B37aff0D8bB079de36Ae61A4c0/token-transfers)

nonahodge

Also in the UK, careful if repurchasing the same asset within 30 days as I believe that counts as wash trading! If BTC trading to WBTC i’ve heard to be a better solution.

RawDick

Stablecoin farming with decent yield, about 8-10%. During the bear I thought stablecoin yield farming was good. But they engineered me onto a reputable web-based wallet that I’m not familiar with and got me to reveal the seed phrase while screen sharing. Emptied the wallet together with my WBTC stash. The wallet was My Ether Wallet (MEW).

Powerplayrush

You can sort of do this with WBTC and AAVE.

jobitobi

You have 2 types of options: centralized and decentralized. Centralized would be almost any bigger exchange (e.g. https://www.binance.com/en/loan) Decentralized mostly work on other chains, like Ethereum (e.g. [https://app.spark.fi/](https://app.spark.fi/) or AAVE or [https://summer.fi/borrow](https://summer.fi/borrow) ). The process is pretty much: 1. Wrap your bitcoin (e.g. WBTC) 2. Use it as collateral for loan 3. Take part of the loan out, meaning you send it to your wallet (leaving enough margin so that in case of fluctuations you don't get liquidated before you pay back) 4. Once done, pay back, close the loan contract and get your WBTC collateral back

Awkward_Potential_

I hold WBTC on Solana and yeah. Most functional way to hold bitocin.

biba8163

You don't know how lightning works but you are stating its literally wrapped BTC? Wrapped BTC - You send BTC to a 3rd party initiating a wrapped token contract, the centralized custodian of the BTC then mints WBTC and through the token contract you receive WBTC tokens. Lightning network - In LN, you lock Bitcoin into a smart contract establishing a payment channel between two parties. The two parties can transact real BTC with each other any number of times, instantaneously, without updating the main chain and without paying high fees. You can also transact with other parties through any number of payment channels linked together but all this is through one transaction LN might be keeping track through its own ledger but everything integrates back to the main chain ledger when payment channels are closed.

bibimbap0607

50% in BTC and 50% in ETH. Also have a small crypto savings account in USDC. I keep all my coins on Arbitrum chain, including BTC as WBTC. All of my assets are producing some passive income via yield farming on Beefy and Harvest. Probably not the smartest and best setup you can come up with, but it works for me at least for now and I like it.

blinkOneEightyBewb

Yeah go borrow some WBTC on aave and sell it on a dex for a stablecoin

bubbafry

WETH is almost completely risk free relative to ETH. It’s so risk free that it’s probably questionable whether or not ETH to WETH is a taxable event, since they can always be exchanged 1:1 100% of the time. WETH is “wrapped ether”. There is a smart contract on ETH that takes your eth, locks it, gives you WETH back. WETH can do certain things that ETH can’t from a technical perspective. But as long as the smart contract is not compromised you can always burn the WETH and get 100% ETH back minus gas, and there are no fees to do this (other than gas). It would be extremely surprising if a compromise would be found at this point but you can never say never. Wbtc is a little more complicated because you are bridging between different blockchains, since WBTC is on ethereum network. Though the idea behind it is the same as WETH

CointestMod

#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.

CointestMod

#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.

Arkatros

Aave. It's a way to multiply gains/losses. For example: Let's say you have 30k$. BTC initial price: 60k$ You buy 0.5 WBTC. Loans it to Aave. Use it as collateral to borrow let's half of that value (15k USDT). You then use that 15k USDT to buy another 0.25 WBTC. Loans it to Aave. New total: 0.75 WBTC - 15k$ debt (@8-12% annual interest) You can now borrow another 7.5k$ to buy another 0.125WBTC. Loans it to Aave. New total 0.875 WBTC - 22.5k$ debt (@8-12% annual interest) From experience, doing it twice is safe enough if you monitor your funds closely. If your collateral value drops under a certain threshold, you get liquidated and lose a portion of your funds. That hurts, so be careful about that. The easiest way to explain what it does is that it mutiplies your gains. Because let's say the price of BTC goes up by 10%. If you only hold 0.5 BTC (@ now 66k/ea), that's a +3k$. But if you hold 0.875 BTC that goes up by 10% (@ now 60k/ea) that's +5775$ instead of +3k$. So in scenario A: 30k --> 33k (+10%) And in scenario B: 30k --> 35.775k (+19,25%) But be careful, the multiplier also applies when prices go down.

Michael__X

Everyone talks about bitcoin passing 70k but nobody is talking about WBTC passing 70k. Stay woke keep your third eye open

M1K3_B13N

this is literally exactly what happens no matter what swap you do... you swap BTC to friggin WBTC and for some reason, ill see the BTC pump while WBTC dumps.. LMAO nah all jokes aside: do you fam, its what you believe in. a rebalance going at the pace we are going, into xrp eth btc, maybe some bluechip memes like pepe bonk shib etc, kinda follow btc & eth price action, and memecoins are blowing up in general even more now, plus more categories like PolitiFi/PoliFi, Gaming, etc, way more to diversify in. 30% xrp 20% eth 20% btc 10% Meme 10% Poli 10% gaming IMO

advias

Technically only native tokens can be wrapped, or even ERC20 wrapping ERC20s. Anything else that "wraps" is either custodial like WBTC, or bridged. There is so much conflation in terminology in crypto it's bothersome

Chonjae

WBTC is fine, it's battle tested for years.

BuffaloBrain884

I think wrapped BTC is basically meant for transfers. It you're going to hold it for any amount of time, I would just stick to BTC. It you're trading and swapping every week, then WBTC is fine.

Able-Process3748

By reading the "how it works", it sounds very "custodialy" and centralised. Just keep your normal BTC. Use a regulated exchange if you want to trade. If you want to anonymously convert to USDT, you could do that on Liquid network (try Aqua wallet). I trust it much more than WBTC on any chain...

majorpickle01

WETH is a decentralized smart contract and is pretty much as good as regular ETH (obvious bugs apply but WETH has been running fine for years and is a relatively simple contract). the WBTC has a custodian I believe, although all reserves are on chain. But it's been running since 2019 with no issues so it's basically as safe as it gets for BTC on defi. The price will not always be 1:1 on exchange, because anyone can buy and sell for whatever price they like. The price will always trend to 1:1 though because of arbitrage - if WBTC is 5% cheaper for example on uniswap, people will buy it and unwrap it to get 1 BTC making a profit. In reality gas fees and such often mean that a small discrepancy in price will exist. But it's nigh on 1:1. Exactly the same as USDC or Tether - fully redeemable but nearly always priced at 0.999999 or whatever. OF course, if a lot of people REALLY want tether or usdc, they'll bid above par, so it'll go to 1.000010 or something. TLDR: they are fine. If you want to long term hold use ETH not wETH and BTC not WBTC. If you want to trade and swap, it's fine to use the wrapped equiv

Puking_In_Disgust

Panic sold the bottom, but I bought back over half of what I sold because I mostly panic sold into WBTC and ETH, so buying back a bunch yesterday I’m losing *way* less than I would if I was buying back with USDC/T. Hell, with how much BTC’s been ripping lately it almost feels like break even!

modpr0be

"If 75% of the Top 50 coins performed better than Bitcoin over the last season (90 days) it is Altcoin Season. Excluded from the Top 50 are Stablecoins (Tether, DAI…) and asset backed tokens (WBTC, stETH, cLINK,…)" - from Blockchain center dot net. So, it's not started yet.

Secure-Rich3501

WBTC? BSV LITECOIN Bitcoin cash (trash?) Here's a fun one: BTCBSC (DO NOT PURCHASE!)

Tinkering_Soc

Does $WBTC count?

Optimal-Ad-5891

Swipe it for WBTC and the Dex on polygon, avax and many more.

Bone_ear1

If you use WBTC you can use DEX

maddhy

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.

StamInBlack

Jupiter (Solana) has a WBTC perp

reddorical

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

BaguetteInMyPant

> 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?

Disco_Trooper

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.

TheAntagonist202

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.

CointestMod

#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.

CointestMod

#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.

CointestMod

#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.

CointestMod

#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.

CointestMod

#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.

bricarp

> 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?

CointestMod

#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.

bricarp

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.

Cannister7

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? 😅

Cannister7

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?

Django_McFly

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.

Soil_Electronic

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

MinimalGravitas

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?

Hitchie_Rawtin

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.

Django_McFly

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.

No_Industry9653

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

GarugasRevenge

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.

coinfeeds-bot

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.

coinfeeds-bot

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.

Awkward_Potential_

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

CointestMod

#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.

GarugasRevenge

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.

GarugasRevenge

I imagine WBTC

CointestMod

#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.

ifq29311

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