the flash crash that wasn't
the flash crash that wasn't
A market maker called at 2am. Their ETH feed showed $3,100. Their liquidation engine was about to act on it. The real price was $3,400.
One venue had printed a stale tick — a flash crash that never happened. The difference between "one exchange says" and "the network's median says" was three hundred dollars and a very expensive mistake. Their engine pulled the signed aggregate instead, and did nothing. Correctly.
the median saved them
A single source is a single point of failure. A median across thousands of nodes isn't. That's not a data nicety — it's the difference between a fill and a blow-up.
proof, not opinions
When the number matters, you want it signed and verifiable — not "our feed says." Signal signs every value, so you never have to ask who said it. You can check.
— Noah OkaforFounder, Signal