ERASURE BAY : THE CRYPTO'S PARADISE OF THE DATA 2020 (REQUEST ANY INFORMATION)
Picture by https://twitter.com/ErasureBay

ERASURE BAY : THE CRYPTO'S PARADISE OF THE DATA 2020 (REQUEST ANY INFORMATION)

By awstian | awstian | 22 May 2020


NUCLEAR CODES? CLEAR DATA? THE NAME OF YOUR FAVORITE SONG? 20 PICTURES OF BABY YODA OR JUST GET SOMEONE TO PLAY BEETHOVEN'S SONATA FOR YOU.a6eab5c23161b021826f49b835e1ed8cb8ca197a4d1ea27cb65182ae393d5106.png

I know, it sounds pretty much "deep web" but it's what the web claims, and have been named as "TINDER FOR MARKETS" for crypto-specialist. If you watch the web  for the first time, this could be pretty exciting since their banner claims about nuclear codes and many more... I was like, wait... WHAT? . This web have a big potential and rewards the knowledge of everybody.

 

The smart protocol that they are building justifies what they are seeking : 

Gurantee relevant and quality information for the requests and as objective: "satisfaction of the user".

Let's take a look at this REQUEST of someone that wanted a video of any member of this plataform playing Moonlight Sonata and Anson Chu fulfilled his expectatives.

292d2836f6710a4e905bf58772e669f04460a2c7874af9a5b2d66f15fb336b58.png

 

HOW IT WORKS? 

USER makes request: Video of a @numerai member playing sonata (>1min) and the ammount you stake for reward, in this case $23.

Then another user(anyone) can respond this call and submit /fulfill the request. Like "@ansonschu"  Also every request is posted on Twitter.@ErasureBay

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There are a bunch of requests like this, someones more harder other easier or bizarre but it's a good way to earn more crypto if you ask me. 

I just joined this plataform and im pretty excited to see what's next here. 

 

Well , talking about their protocol: WHY STAKE?

According  Fred Ehrsam , co-founder of Coinbase, stake is used as a sign that their prediction, entries/answers are going to work. Since anyone can respond, this would be a trouble and collapse the market if they got many wrong answers and no one is able to fulfill the request because they could think that 10 bad answers can make them pay out with just one answer, there is nothing to lose right? so why put effort. Knowing this, Fred and Richard made a protocol that makes the user stake an ammount everytime that they want to fulfill a request. So, if they are wrong the user who made the request can pay 1 $ to destroy the stake and the "troll" or the one who gave a bad answer just lose the staked money...

Now, as i saw they are working with DAI as crypto and NUMERAIRE as the TOKEN. According the founders, in the future, people will be able to use any data provider to submit a request on ERASURE. 

Here is the official video that they where both founders are introducing ERASURE:

 

"A lot of the world's information is trapped or unused"

 

 

Toughts: 

I honestly love the concept of "people can contribute to crowdsource models " but also reminds me a bit the "deep web" where for an ammout you are able to get almost everything. Do you imagine stake like 20$ for a date , so if you don't like the date you destroy the other's stake, so it would be a proof of something decent? hahaha there are a lot of things that going to improve also many protocols in the whole crypto ecosystem, so this one is a true ONE TO WATCH currency. 

 

Numeraire also had a nice and quiet uptrend the last months and according the market cap seems like is able to grow a lot more in the near future.

BACKGROUND of ERASURE (NUMERAIRE):

ERASURE is composed from the NUMERAIRE (NMR) base, so that is the plataform token. And as ERASURE grows, also Numeraire, but according the founders , they said that ERASURE is going to be bigger.

NUMERAIRE was made as "tournament" or a place where data scientific compited with each other to find the best trading algorythm and compiting for NMR token. So, the CROWDSOURCE prediction come from specialist that guarantee you a quality prediction. 

This objective is the same, satisfaction, but now with another angle, thinkin that there is also smart people that could fulfill your expectations or doubts with valuable information.

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File:Richard Craib 2016.jpg

"(...)Erasure believes that people can contribute models to datasets that we gave them".  

Richard Craib 
Numerai Founder
 

 

 

Fred Ehrsam Keynote Conversation | State of the Net 2015 at … | Flickr

"It's been challenging to prove to people that if they submit valuable data they're guarantee to be rewarded for it

moreover that hasn't been an inmutable ledger that everybody can look back to see for sure if somebody

has made accurate predictions over time , it turns out that crypto currency couple with

blockchain saw both of those problems and that's the root what erasure was getting at"

FRED EHRSAM

Coinbase Co-founder

Paradigm Co-founder

 

 

 

 


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