Types of Users
There are three main types of users that Microtick blockchain streaming data services serve: data providers, data validators and data consumers.
- Market Makers(Oracles). The data provider's goal is to submit as accurate a quote as possible. Because the data provider has no control of which trade they might end up on (call or put), their motivation is to be as accurate as possible.
- Traders. These actors validate the consensus by trading out quotes that are misplaced. When placing a trade, traders can select whether they want a call or a put. When they see a quote that offers any market advantage, they can trade it at which point the quote becomes an active trade and is taken out of the feed's consensus average.
- Validators. These nodes operate a Cosmos / Tendermint validator and collect the commissions that market makers pay while placing and updating quotes, and traders pay placing and settling trades.
- Data Consumers. Finally, data consumers use the feeds to provide external real-world streaming data to their smart contracts. Microtick streaming data is always free for data consumers to use.