/sci/ - Science & Math » Thread #13204180

85KiB, 1021x580, Program-Code-.jpg

View Same Google iqdb SauceNAO

Cryptocurrency coding question

Anonymous Fri 28 May 23:38:17 2021 No.13204180 View Reply Original Report

Quoted By: >>13204473 >>13204605 >>13206538 >>13207456

Anyone know how to peg the price of an ERC 20 token to the value of gold? What needs to be done in the coding of the smart contract?

Anonymous

Anonymous Sat 29 May 2021 01:31:27 No.13204473 Report

Quoted By: >>13204484 >>13207456

>>13204180
This is called the Oracle problem and has existed before crypto.
You need a trusted third party or a lot of heavy computations to decide the price.

Anonymous

Anonymous Sat 29 May 2021 01:34:54 No.13204484 Report

Quoted By:

>>13204473
would building a synthetic token be easier?

Anonymous

Anonymous Sat 29 May 2021 02:08:43 No.13204605 Report

Quoted By: >>13204630

>>13204180
1 faggot coin = 1 amount of gold
how hard is that? why do you need some stupid fucking 'smart contract' to define the value of something? dumb idiots just falling for marketing scams

Anonymous

Anonymous Sat 29 May 2021 02:17:20 No.13204630 Report

Quoted By:

>>13204605
The value of the coin has to be pegged to the value of the underlying asset. If 1 coin is equal to, lets say, 1 gram of gold, then the price of the coin has to be the price of 1 gram of gold

Anonymous

Anonymous Sat 29 May 2021 13:36:58 No.13206538 Report

Quoted By: >>13209801

>>13204180
How much gold is there? Are you talking about an estimated amount of gold on Earth, or in the universe?

Anonymous

View Same Google iqdb SauceNAO 28EF18DB-8EB1-4D13-AD3A-B910817E (...).png, 132KiB, 949x854

Anonymous Sat 29 May 2021 17:02:40 No.13207456 Report

Quoted By: >>13207526 >>13207556

>>13204180
>>13204473
Head over to biz and research chainlink.

Anonymous

Anonymous Sat 29 May 2021 17:17:53 No.13207526 Report

Quoted By:

>>13207456
Christ people really don't know how to explain code without a million words, that or they're trying to make it seem waayyy more complex than it really is.

Anonymous

Anonymous Sat 29 May 2021 17:23:49 No.13207556 Report

Quoted By: >>13209864

>>13207456
>2017
already been btfod https://www.reddit.com/r/CryptoCurrency/comments/g2cswj/chainlink_is_the_most_overvalued_cryptocurrency/

Anonymous

Anonymous Sun 30 May 2021 02:00:50 No.13209801 Report

Quoted By:

>>13206538
I have gold in vaults. The market price of the coin is going to have to represent the price of 1 gram of gold. I'm struggling to find the best way to write the contract so that it stays pegged

Anonymous

Anonymous Sun 30 May 2021 02:14:04 No.13209864 Report

Quoted By:

>>13207556
According to Metcalfe's law Chainlink is extremely undervalued since it has about half the network effect of Ethereum, yet nowhere close to half the market value. Chainlink secures multiple hundreds of billions of dollars in defi value. Before Chainlink you could count on your hand the amount of valuable dapps built on the Ethereum network, now we have innumerable and Link is directly responsible for this. Link will go to $1k by the end of this year and $81k by the end of 2025. You can screencap this post.

Capcode	All Only User Posts Only Moderator Posts Only Admin Posts Only Developer Posts
Show Posts	All Only With Images Only Without Images
Deleted Posts	All Only Deleted Posts Only Non-Deleted Posts
Ghost Posts	All Only Ghost Posts Only Non-Ghost Posts
Post Type	All Only Sticky Threads Only Opening Posts Only Reply Posts
Results	All Grouped By Threads
Order	Latest Posts First Oldest Posts First

Your latest searches