Hacker News new | past | comments | ask | show | jobs | submit login

Interesting. Could you explain the prediction market/betting system in more detail? Can users wager Coins, upvotes, or repuptation that they get back multiplied by some factor that depends on the success of the post they bet on, or do I misunderstand?

Also, TIL of the concept of a Sybil attack, AKA sock-puppeting: https://en.wikipedia.org/wiki/Sybil_attack

> an attack wherein a reputation system is subverted by forging identities in peer-to-peer networks [...] named after the subject of the [1973] book Sybil, a case study of a woman diagnosed with dissociative identity disorder. The name was suggested in or before 2002 by Brian Zill at Microsoft Research




Users can wager Relevant Coins (not reputation) on the quality of posts. This is done via a 'bonding curve market maker' (https://blog.relevant.community/how-to-make-bonding-curves-f...). The market maker mints 'shares' in exchange for staking Relevant Coins. The more shares are outstanding the more expensive they are, thereby rewarding early participants.

Not that the actual ranking of the post is determined via the pagerank algorithm which is independent of the coins and betting.

If the post has a higher ranking than average it gets a portion of the newly minted tokens — kind of like block rewards. These rewards get distributed to all the users that staked on the post proportional to the amount of shares they own. Everyone also gets their original tokens back. So in reality this it's prediction market 'light'. All users pay a 'tax' on their token balance via the inflation rate and but get a chance to win a portion of the pot by participating in curation.

The betting mechanism is similar to and inspired by Steemit. Except they don't use reputation ranking to resolve the market. Steemit posts are ranked by how many tokens were staked on them, so a whale can basically force the market and get all the rewards — self-fulfilling prophecy. In our case its is more akin to an actual prediction market where the prediction is separate from outcome. At scale the prediction market can actually be a useful way to surface recommendations.




Guidelines | FAQ | Support | API | Security | Lists | Bookmarklet | Legal | Apply to YC | Contact

Search: