Numerai’s prediction marketplace Erasure arrives on Ethereum

Hedge fund and predictions market startup Numerai’s has launched its open-source “Erasure Protocol” on the Ethereum mainnet, according to an announcement.

The company, which launched in 2017, is built around an AI system that chooses which trades to make. Numerai encrypts some trading data and publishes it on its dapp, Erasure. As part of the competition, now called Erasure Quant, several thousand anonymous data scientists then compete to create the best trading algorithms. Numeraire then implements the best trading algorithms—and scientists win the company’s native currency, Numeraire for their efforts.

At present, it’s difficult to verify the claims made by data scientists who develop algorithms on the platform. For example, someone might develop a prediction algorithm that has a certain success rate and they may wish to sell the predictions it delivers to other parties–but buyers might want to be sure that the predictions aren’t tampered with. Base an investment on a false piece of intel, and there goes your pension fund. Read More at DeCrypt...

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