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How Numerai Made Their Own Crypto
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“If you ask a user, ‘Please wire me $100,000 and I promise I won't steal it.’ That's not as good as a blockchain system that says stake your model.” — @richardcraib Full episode here 👇 https://www.infiniteloopspodcast.com/richard-craib-how-to-open-source-finance-ep169/
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The Birth of Staking
Richard Craib explains the motivation behind Numerai creating their own cryptocurrency, emphasizing the importance of staking. He contrasts traditional trust-based financial requests with the security of blockchain technology, highlighting how staking allows users to secure their models without the risk of theft, making it a perfect fit for their needs.
"but the reason to make our own cryptocurrency was to do the staking I mean not many people had even heard about staking in 2017 when we started doing it and it's the exact right technology for us for ..."