While trusted oracles unlock great possibilities for blockchains/smart contracts they also introduce massive failure modes. Tread carefully.
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@NickSzabo4 thoughts? I read this with "trusted 3rd parties are security holes" in mind.
For things like market prices best data sources are still the traditional ones, which have traditional solutions to the trust problems.
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That's true but I'd still be quite concerned about data feeds from traditional sources. Endpoints could be hacked & disrupt the whole system
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Good traditional services have very long histories you can look at to see what kinds of threats actually do or do not materialize.
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Absolutely. That said, new consequences of altering feeds are emerging. This stablecoin proposal comes to mind: http://www.nadertheory.com/#!/main/articles/post-12-treasurycoin-white-paper ….
End of conversation
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