Another question, with no need for any "interpret": 
This snippet comes from the original post:
It touches upon something that I've been wondering about. Unlike in crypto space, getting your hands on live price data for conventional assets requires forking out money. Case in point: this service offers a gold-price API for $30 per month that's updated once a minute.
Believe it or not, this is pretty cheap. The NYSE offers live transmissible stock-market data for both NYSE & NASDAQ stocks at a price of $15,000 per month!
With these...monetization strategies attached to conventional financial data, getting a reasonably accurate feed takes on a different dimension. From what I've read, the least insecure (from an engineering standpoint) is a DPoS system. But therein lies the block: for a full DPoS 101-delegate system to feed in live gold prices would require a collective spend of more than $3,000 per month (one independent API account for each delegate.) This could be lowered by finding a cheaper feed, as well as by other means, but it's still costly.
On the other hand, me going it alone by shooting the gold data directly into (say) the Nxt blockchain via Arbitrary Message would oblige anyone who uses that data to trust me - and would require me to make sure I have a bit of redundancy to hedge against VPS failure (for one.)
Is there any way for IoTA to help with this dilemma? If so, it could be used as a feeder for smart contracts & bridge the gap between old data and new.
Thanks.
This snippet comes from the original post:
Iota does not seek to replace the blockchain entirely, it also acts as a supplementation to the current blockchain ecosystem by acting as a oracle for smart contract platforms like Ethereum and Rootstock.
It touches upon something that I've been wondering about. Unlike in crypto space, getting your hands on live price data for conventional assets requires forking out money. Case in point: this service offers a gold-price API for $30 per month that's updated once a minute.
Believe it or not, this is pretty cheap. The NYSE offers live transmissible stock-market data for both NYSE & NASDAQ stocks at a price of $15,000 per month!
With these...monetization strategies attached to conventional financial data, getting a reasonably accurate feed takes on a different dimension. From what I've read, the least insecure (from an engineering standpoint) is a DPoS system. But therein lies the block: for a full DPoS 101-delegate system to feed in live gold prices would require a collective spend of more than $3,000 per month (one independent API account for each delegate.) This could be lowered by finding a cheaper feed, as well as by other means, but it's still costly.
On the other hand, me going it alone by shooting the gold data directly into (say) the Nxt blockchain via Arbitrary Message would oblige anyone who uses that data to trust me - and would require me to make sure I have a bit of redundancy to hedge against VPS failure (for one.)
Is there any way for IoTA to help with this dilemma? If so, it could be used as a feeder for smart contracts & bridge the gap between old data and new.
Thanks.