Re:A $100k Prize for a Decentralized Inflation Dashboard
by anythingdude321 on Thursday August 05, 2021 @06:49PM
(#28081069)
Including the computation and data on-chain enables other parties to use it trustlessly and verifiably. If you, for example, wanted to make an algorithmic central bank that reacted to inflation numbers you would need on-chain CPI in order to do that. Similarly you may want to index your interest rate to the CPI in some way (like LIBOR). It becomes a lot more useful when on-chain than in a central database
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Re:A $100k Prize for a Decentralized Inflation Dashboard
by wrs on Thursday August 05, 2021 @09:33PM
(#28082296)
It’s not trustless, because you’re trusting the scraping NGO to put the correct price data on the chain. You can verify that it came from the NGO with a simple signature; you don’t need the chain for that.
Re:A $100k Prize for a Decentralized Inflation Dashboard
by anythingdude321 on Thursday August 12, 2021 @12:20PM
(#28158199)
nah fam that won't likely be the final topology of the network. you can have oracles all the way down and a slashing risk for those that deviate significantly from the consensus prices and CPI numbers. so you're trusting the economic design of the system to appropriately incentivize the participants to give honest data