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It is technically possible to install and run TimesTen on the same host as oracle Db but this is not a recommended configuration because:
1. Unless the Oracle/TT server has adequate hardware (CPU/Memory/Storage) and has been very carefully setup you are likely to get competition for memory, CPU and disk I/O resources between TimesTen and Oracle DB which will nnegatively impact the performance of both.
2. TimesTen delivers best performance when it is co-located with the application logic that is accessing it. When the application and TimesTen are on the same machine the appplication can use 'direct connection' mode which eliminates all IPC (even local IPC) from the app <-> TimesTen communication resulting in very efficient and low latncy communication between the app and TimesTen. When TimesTen is on the same server as oracle all interactions with TimesTen still incur a network roundtrip which is very expensive compared to typical SQL execution times in TimesTen.
So yes you can do it but in most cases it is a bad idea and won't deliver anything like the benefits you would getif you put TimesTen in the middle tier.