Network is soon going to be 1 exaflop. Crowd-sourced infrastructure proved that it has no viable competitor in the world of supercomputers.
Was there ever an initiative to add one layer onto the whole network which could carry the load of all arbitrage on the market? Part of miner's CPU, RAM and bandwith resources could serve as a distributed cloud hosting service for exchange sites since all of them are unavailable during manic/panic phases. Perhaps there is no other solution since it's not just up to the exchange sites to buy more servers, even fb or yt drag and timeout on high traffic. Exchange sites could communicate through the API which could be mix of some open source web server and bitcoin-like mining reward system.
Was there ever an initiative to add one layer onto the whole network which could carry the load of all arbitrage on the market? Part of miner's CPU, RAM and bandwith resources could serve as a distributed cloud hosting service for exchange sites since all of them are unavailable during manic/panic phases. Perhaps there is no other solution since it's not just up to the exchange sites to buy more servers, even fb or yt drag and timeout on high traffic. Exchange sites could communicate through the API which could be mix of some open source web server and bitcoin-like mining reward system.
Yes we have a similiar discussion going on here https://bitcointalksearch.org/topic/p2p-exchange-for-bitcoin-172705
Either we add functionality to the bitcoin protocol itself to handle exchanges, or we create a new protocol only for exchanges so we dont need to spam the blockchain with exchange related information.
The new exchange protocol can be an alt-coin where the coins only purpose are to prevent double-spending of a traded asset, the coins will not have a value in themself but only represent an asset outside of the blockchain.
thanks! glad to see that more people have the same idea... I'll switch with analysis talk at your thread...
