Prediction market Myriad leverages the developer platform as an information layer for picture storage and has begun integrating with Walrus.
The partnership builds on Myriad’s ambition to turn out to be a “totally on-chain” prediction market protocol, changing conventional storage fashions that mix decentralized and cloud storage.
“This integration ensures that each one market artifacts throughout Myriad are immutably and verifiably saved on-chain, making certain tamper-proof and publicly auditable provenance,” stated Ilan Hazan, co-founder and chief working officer of Myriad.
Myriad’s transfer to decentralized storage and on-chain market knowledge means all of its output is “full and totally verifiable,” stated Rebecca Simmons, managing government at Walrus. “They’re tamper-proof, they’re an correct file of what occurred, what the result was, what was paid, and that has been round since time immemorial and can’t be modified.”
That can be vital for establishing belief amongst Myriad’s customers, she stated, and in addition “if Myriad ever finds itself in a state of affairs the place it must be audited or desires to begin working in a regulated market.”
Simmons added that Myriad’s efforts to current prediction market outcomes on-chain creates an information supply with “very fascinating” purposes reminiscent of decentralized finance and AI fashions. AI fashions can use validated value feeds and proof units, whereas DeFi protocols can reference those self same proof to collateralize positions or set off computerized funds.
This opens the door to additional purposes utilizing Myriad’s market knowledge, Simmons stated. “Now we have a terrific file of individuals placing cash behind their opinions,” she stated, calling it “the purest type of polling out there.”
“When you begin constructing that, you are able to do plenty of actually fascinating evaluation as an AI or authorities coverage maker to know how teams take into consideration issues.”
walrus and myriad
This partnership builds on our present relationship with Walrus. decryptionbegan storing articles, photos, and movies on a decentralized storage protocol earlier this yr, creating an “immutable public archive of journalism.”
By means of this partnership, Myriad may also discover integration with different components of the Sui stack, together with Seal, a proprietary confidential administration platform.
Hazan stated additional integration with Myriad will develop that collaboration and advance Myriad’s mission to realign incentives within the media ecosystem. “Collectively, Myriad and Walrus are constructing the infrastructure for a extra open and accountable net the place knowledge, belief, and possession belong to customers.”
