Another Oracle proposal about v1-contracts

[haydenadams]

Put another way, Uniswap w/ large pools is the best decentralized oracle I know.

I'm assuming you mean centralized oracle - ie creating a Kyber-like system but maybe with more efficient code.

[BlinkyStitt]

As @haydenadams said on #13, "Custom pools - exchange contracts that integrate the same interface but are not deployed from the factory - are the best place to experiment on this. Custom pools are able to trade against the public pools using the tokenToExchange functions."

I think you can experiment with what you want with a custom pool instead of needing to change the existing Exchange contract.

You said "[updatePrice()] would initiate an Oraclize call to get the price." Where is this price coming from though? Who has control over this price? I see "Oracle" used a lot with cryptocurrencies, but haven't yet seen a decentralized one that is fast enough updating the price to work with something like you are proposing.

[gundas]

I think you can experiment with what you want with a custom pool instead of needing to change the existing Exchange contract.

I understand you point.

You said "[updatePrice()] would initiate an Oraclize call to get the price." Where is this price coming from though? Who has control over this price? I see "Oracle" used a lot with cryptocurrencies, but haven't yet seen a decentralized one that is fast enough updating the price to work with something like you are proposing.

The price would come from whatever is coded in the Oracle Contract (e.g. some URL & Oraclize). So, yes the Oracle would not be decentralized, but the decision if to use Oracle, what Oracle to use (and when to change) and would be decentralized.

I am closing this issue, since the proposal is clearly not in line with the project direction.