Polymarket: A Step Towards Collective Decision-Making, Says Vitalik

IconCryptoNewsTerminal Staff22 Jul, 2024

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Polymarket: A Step Towards Collective Decision-Making, Says Vitalik

Vitalik Buterin, the founder of Ethereum (ETH), has praised the work of Polymarket, a decentralized prediction market. Buterin said via Twitter that he "has been very impressed by the work of Polymarket." He added that Polymarket "makes great predictions" and is "taking a great step towards collective decision making by showing probabilities of different candidates (party) winning various elections." Polymarket is a decentralized prediction market that allows users to bet on the outcome of future events. The platform uses a unique algorithm to calculate the probability of each outcome, and users can bet on any outcome they believe is likely to happen. Polymarket has been praised for its accuracy and transparency. The platform has correctly predicted the outcome of several major events, including the 2020 US presidential election. Buterin's praise of Polymarket is a significant endorsement of the platform. Buterin is one of the most influential figures in the cryptocurrency community, and his endorsement is likely to attract more users to Polymarket.

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