hmm, perhaps it would be better to have the wallet query a syscoin-sponsored site that then queries another API so that we have control of the currency conversion. could fallback to just using a single currency (usd, euro) in case of stale data...
Website could just use cron to poll updates to the client read only conversion chart about every 15 minutes or so. This would probably be a better model for security, and if the current syscoin website is cloud based then replication would be a snap.
You guys are so close to what we have been working on creating as a stop-gap solution to this issue until we can integrate a daemon-level solution on top of the new Assets feature- this is excellent discussion.
Right now as a solution to this we're creating what I call a two-way price peg (aka: SysPricePeg lets say, I know maybe not the coolest name). What this does is has several configurable options:
- which exchanges to pull exchange rate from (BTC/SYS), avg price across them
- which exchanges to pull exchange rate from (BTC/FIAT) OR BTC/ALTCOIN if the merchant wants to price their offer in FIAT or altcoin, avg price across them
- update interval (default 10min) - interval at which the cron runs to poll for exchange data
- update threshold (default 3%) - threshold at which to automatically issue an offerupdate to update the offer's SYS price ONLY if the price has changed outside the threshold
Syscoin offers are stored on the blockchain currently, not in any separate p2p database as the blockchain provides for cryptographic proof/validation of service operations where a local database could be much more subject to attacks or hacks but I can see ways to secure this- but still blockchain is best imo.
So what a vendor would do currently is run SysPricePeg in parallel with Blockmarket (as a front end for buyers). SysPricePeg would store the data locally regarding which ONLY which offer guid should be pegged to what price/currency but the setup there is simple; eventually this data will be integrated into the offer data design (something like currencyType and currencyPrice as new data fields).
The above is something we're already almost done with and will be releasing soon as we can- these recent roadbumps have slowed down the train but certainly not stopped it. I need to update the damn roadmap on the website so people have a better idea of the new timelines- its on my todo list. The fact that all these "Darknetmarkets" got taken down today may be a great way for us to demonstrate how SYS decentralized markets can avoid this kind of centralized takedown. We don't support illegal activities of course but this [the risks of centralized markets/data] is one relevant and applicable use case towards which Syscoin could be leveraged quite heavily and effectively.
Development Update!!We will be promoting Syscoin 0.1.5 RC3 to "production release" this Saturday 11/8 the branch will be merged to master and we will issue new binaries. Pool operators please plan on updating. This information will be sent to the mailing list soon