I've recently been in another discussion
which led to talking about broadcasting exchange rates through the network (which reduces the load on exchanges).
I know bitcoin has some kind of alert built in
but what are the restrictions on it? Specifically, what would need to be changed to allow addressed to broadcast exchange rates and then clients to pick this data up and display it in client? What would be the scalability implications of this?
The biggest problem I can see is that if anyone is allowed to broadcast then people can flood the network. I think this is easily solvable by having nodes only retransmit messages from sources they recognise, and then allowing users to add a set of public keys to verify sources. This way the network as a whole decides which messages are valid to retransmit, simply by if enough peers add the public key as a valid broadcast source.