Author: Troy Benjegerdes 2014-03-01 17:45:13
Published on: 2014-03-01T17:45:13+00:00
The discussion is about whether a Bitmessage-like network would be susceptible to front-running via a sybil attack. The argument against marketplaces is that the data they publish has to be public, which makes them vulnerable to this type of attack. However, the actual price of some of the largest traded commodities in the world, such as ammonia fertilizer or refined gasoline at terminals, is not public information. It is argued that the primary goal of markets is trade itself, not price discovery. While historic data may not be accurate, as long as personal trade data is correct and the code is auditable, buyers and sellers can still exchange goods for a good price. The accuracy of historic data can be addressed later, and working code for cross-chain trades is more important at this point.
Updated on: 2023-06-08T02:29:37.325245+00:00