The theories underlying PAM and other prediction markets are the Efficient Capital Markets Hypothesis (ECMH) and the Hayek hypotheses. These hypotheses explain how information is aggregated such that market prices provide accurate estimates on the likelihood of future outcomes. According to ECMH, capital markets are “extremely efficient in reflecting information about individual stocks and about the stock market as a whole,” such that no amount of analysis in an attempt to forecast future stock prices can beat the market.
The EOS mainnet launched on !date:6/10/18. Immediately EOS' off-chain government felt compelled to freeze allegedly thieving accounts in violation of the EOS constitution. CTO Dan Larimer called for a new one. The episode highlights the advantages of protocol-level governance.
decentralization is the primary innovation of cryptocurrencies. w/o the novel capability of maintaining an uncensorable, immutable written record, blockchains, on which cryptocurrencies are implemented, are reduced to inefficient, distributed databases.
A Bloom filter is a space-efficient probabilistic data structure, conceived by Burton Howard Bloom in 1970, that is used to test whether an element is a member of a set. False positive matches are possible, but false negatives are not – in other words, a query returns either "possibly in set" or "definitely not in set". Elements can be added to the set, but not removed (though this can be addressed with a "counting" filter); the more elements that are added to the set, the larger the probability of false positives.