Distributed infrastructure of bitcoin exchange hosting layer API

[marra]

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.

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[Sukrim]

Big parts of miners nowadays probably don't even have a CPU or any computing ressources beyond a RaspberryPi...

[marra]

Big parts of miners nowadays probably don't even have a CPU or any computing ressources beyond a RaspberryPi...

not sure about that, maybe Ghash-wise new rigs produce more, but as a quantity of peers, GPU rigs still beat everything, it will never go away in parts of the world where electricity is available cheap, it'll always bring fair profit for many in fiat terms... Even in case of RaspberryPi it could work, that device is 5 times faster than http servers 15 years ago and with a much better broadband...

using just the random distribution for open source cloud sourcing could solve some of the even bigger issues... perhaps exchange sites don't even have to be hosted from start, but rather just the quotes and charts from all, sites to stay independent and the distributed infrastructure within the new layer could serve as a ticker available to everyone, nearest available miner could be your first http mirror for charts... dispersed, low transport of data... now we have centralized exchanges web sites with heavy volume of data transport mostly on ticker requests from bots and impulses of system outage, completely opposite of what produces efficiency...

[marra]

the problem of market cap stability could be solved and probably a complete removal of extreme volatility... previous manic and panic price strings up and down were caused only by so called "ddos" with no obvious perpetrators, therefore the system is currently faulty... when people have full access to their current fiat balance they are less emotional about it and calm...

[gollum]

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.

Yes we have a similiar discussion going on here https://bitcointalk.org/index.php?topic=172705.0
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.

[marra]

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.

Yes we have a similiar discussion going on here https://bitcointalk.org/index.php?topic=172705.0
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...