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[ULTIMATE #LINKPOOL & $LINK STAKING THREAD ALERT]
Lately I couldn't help but notice how many discussions have arisen around Chainlink's staking, LinkPool, its value proposition and the dynamics at play. That is why I am creating this thread to clear up misunderstandings
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Lately I couldn't help but notice how many discussions have arisen around Chainlink's staking, LinkPool, its value proposition and the dynamics at play. That is why I am creating this thread to clear up misunderstandings
🧵🧵🧵
What is Chainlink Staking?
It is a cryptoeconomic security mechanism whose purpose is to mitigate counterparty risk between a smart contract and its end users. In other words, to make it so that I do not have to trust that a smart contract will be executed according to ...
It is a cryptoeconomic security mechanism whose purpose is to mitigate counterparty risk between a smart contract and its end users. In other words, to make it so that I do not have to trust that a smart contract will be executed according to ...
the terms in which it has been coded, but that I simply have the cryptographic guarantee that it will happen that way. This implies that staking as most people know it thanks to the DeFi ecosystem (e.g. inflationary measures, liquidity mining, proportion of liquidity ...
Seems to be a hot and misunderstood topic, so here goes. A thread about $LINK staking.
$LINK staking is NOT like other staking mechanisms, where depositing $LINK will simply earn you more $LINK, based on the number of tokens you supplied times a certain %
In the #Chainlink network, staking is done in/by nodes. The party requesting data from the network can set a condition that any node supplying data needs to have x amount of $LINK staked to be eligible, so that they will have skin in the game when providing bad data,
