Users will have to simply provide an email address in order to start using Spore. Through its trustless system and reputation system, Spore has continued to rise in popularity in mainstream crypto circles. It also ensures decentralization through the use of a P2P Oracle Network that rewards users for providing accurate information. Spore is a decentralized prediction market solution that can connect users from all around the world to trade and predict on global events. The Augur platform has limitations that make it difficult to leverage the wisdom of the crowd. Spore fills a market need by providing an easy-to-use decentralized prediction market solution that can connect users from all around the world to trade and predict on global events. Spore developer Stephen Oskam has said that “Running Spore on Ethereum is a beta, not the final product.” Nevertheless, the platform will be live and trustless at launch. Once they are satisfied that all vulnerabilities have been resolved, Spore will be launched on the Ethereum mainnet. All funds are held in multi-signature wallets, with admins having complete control over user funds.Ĭurrently, Spore is in the process of being audited for security by a group known as Cure53. The platform will automatically create an individual profile that can be used across all event types, which includes the creation of prediction markets and trading on other users’ markets. How To Start Using Spore? Spore Finance (SPORE) Users with very low levels of credibility will lose all previous stakes when providing misinformation in an attempt to defraud other users. Staking & Reputation System – A moderation system through which users gain stakes for providing accurate information, thus increasing their level of credibility and the weights of their oracle feed. Reputation is gained by continuously providing accurate information, which in turn increases an individual’s staking weight and associated fees. P2P Oracle NetworkĪ network where individuals across the world contribute their own data feeds in order to earn fees from other users. ![]() ![]() Decentralized OraclesĬonsensus oracles that reflect the aggregate result of all trusted and weighted decentralized oracles. For example, CNBC’s Fast Money could serve as a trusted oracle by providing real time updates on Donald Trump’s current bitcoin holdings. ![]() Groups of individuals responsible for manually maintaining accurate event feeds. In order to achieve the highest level of security and performance, Spore will rely on three types of oracles: Manually Trusted Oracles Spore aims to solve this problem by weighting each decentralized oracle based on its overall credibility through a moderation system called “staking”. As a result, the performance of contracts is limited by the liquidity and capital available on Augur’s centralized platform. Due to limitations present in the first version of the Augur platform, it is not possible to leverage the wisdom of the crowd directly from a smart contract.
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