The Acurast Marketplace plays a significant role in the definition, agreement and enforcement of the value exchange taking place between the Acurast Data Transmitters (in short transmitter) and the Data Consumers (in short “consumer”).
The marketplace is where the matching engine brings together the advertised resources of the transmitters with the advertised requirements of the consumers (aka developer). Various price finding mechanisms such as auctions and advertisements are provided natively in the marketplace as implementation of the philosophy of Accessibility followed by the Acurast platform.
Every agreement between transmitter and consumer are specified in an entity called Acurast Job (in short “job”). The job specifies a set of instructions that is run in the Trusted Execution Environment (TEE) of the transmitter, its scheduling parameters, the destination of where the resulting data is expected and the commercial terms, the pricing.
There are two flows central to the value exchange in Acurast:
- The data flow
- The monetary flow
What consumers do when they specify a job is express their need for verifiable data which can be consumed on-chain. This data can be the result of an observation of a public data point (aka API), an off-chain computation, the privacy preserving observation of proprietary data (aka permissioned data) or a combination of all these use cases.
On a high level this can be compared to when in the web2 world a developer expresses their need for computation on a cloud provider like e.g., Amazon Web Services.
This need is covered by the transmitter. The transmitter is offering the service at the cost of a monetary compensation.
The consumer defines the budget for the execution made by the transmitter. It is up to the consumer, to define the currency, allowing them to use besides the native Acurast token also a stabelcoin such as USDt. This allows for clear budgeting on the execution of jobs for both the consumer and the transmitter.
The transmitter will receive the payment automatically upon successful execution of the jobs, defined by the consumer.