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Swarm Intelligence could be the Key to More Accurate Sports Betting

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Artificial intelligence has been shown to have tremendous predictive power in all sorts of areas. Sports is one area in which data plays a key role, whether it’s statistics about a team’s form and overall performance, or data for individual players and their strengths. Collecting this data and analyzing it using algorithms can lead to more accurate predictions. This type of AI doesn’t have to involve any human input.

There is a different kind of AI that brings human input back into the frame. Swarm intelligence aims to amplify the intelligence of a group of individuals, enabling more accurate predictions for a range of events, including the outcome of sports games.

What Is Swarm Intelligence?

A purely mathematical AI system effectively eliminates human input from the process; instead, it makes decisions based on inputs of data and computations through algorithms.

Swarm intelligence is very different. It relies on the input of multiple individuals who, by making a single decision simultaneously together, act as a hive mind, or swarm.

This idea is based on observations of biological systems such as ant colonies or bee swarms. If they were to act individually, these insects would not have much intelligence (neurologically speaking). By joining together, a swarm of bees can achieve the intelligence of a human mind.

When a swarm of bees sets out to find a hive, they will come to a collective decision and solid consensus, without the usual blocks that are experienced in systems of human politics.

Swarm intelligence is a deliberate attempt to bring human individuals into a swarm-like intelligence using an AI system, by forcing an answer that satisfies the most people. One of the key roles of swarm intelligence is to bring human morals and ethics into AI decision making, but it also happens to be incredibly powerful when it comes to predictions.

Mix lots of colors together, and you will eventually get one color
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UNU Swarm Intelligence System

Swarm intelligence is very different from a poll. A poll always polarizes answers, emphasizing differences between groups. For example, you ask 100 people whether they want to leave or stay in the EU, and the result will always be a divide, a split decision of sorts which hems individuals into a set group.

Swarm intelligence functions very differently. In the UNU system, invented by Unanimous AI chief executive Louis Rosenberg, individuals join together to make swarms. They are then asked multiple answer questions. Each participant has a magnet cursor, which they can use to drag a puck towards an answer.

What ensues is a push and pull towards consensus, where the group eventually has to reach a single answer that best works for everyone. You can see it in action on the Unanimous AI website prediction highlights page to understand the process better.

Even a random group of people, when pooling their knowledge, ideas and intuitions, are said to be able to outperform experts, and this has been proven to be true time and time again with the swarm intelligence systems. When sports fans pool together in this way, they can provide more accurate predictions.

UNU Sports Betting Success

Sports betting is a growing industry, expected to reach values of over $155 billion globally by 2024. The growth will largely come from Asia-Pacific, as well as from North America, where recent legislation has allowed sports betting within many states as well as on upcoming mobile apps like Fox Bet. As the industry opens up for more people around the world, people inevitably look to gain an edge.

The UNU swarm intelligence system has found that edge quite a few times already. The 2016 Kentucky Derby was a notable milestone. A swarm of horse racing enthusiasts predicted the Superfecta with amazing accuracy, turning $20 into $11,000 with a 540-1 payout.

Researchers at Oxford University and Unanimous AI tested the swarm system to predict winners in 50 EFL games. Individuals alone averaged 55%, but when swarmed this was boosted significantly to 72%.

In early 2008, the UNU system achieved an even more impressive result than the Kentucky Derby. The swarm and AI system predicted every result correctly in a 10-match weekend, including draws. Community members who followed up with parley bets ended up winning on odds as far-fetched as 1,244-1.

It’s clear that swarm intelligence, the synthesis of AI and human minds, can be a powerful predictor for sports betting.

Source: https://1reddrop.com/2019/07/17/swarm-intelligence-could-be-the-key-to-more-accurate-sports-betting/?utm_source=rss&utm_medium=rss&utm_campaign=swarm-intelligence-could-be-the-key-to-more-accurate-sports-betting

Blockchain

Komodo’s AtomicDEX proves success as a scalability solution with stress test complete

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Komodo, an open source technology workshop and blockchain solutions provider, has successfully put AtomicDEX through its most stringent stress test to date to prove its ability to solve the issues of scalability in decentralized peer-to-peer non-custodial transactions among cryptocurrency exchanges.

“Via AtomicDEX, crypto investors are able to trade assets directly, peer-to-peer, without the involvement of a third-party intermediary. Previous testing showed scalability to be an issue, which it is throughout the crypto exchange landscape. This round of stress testing has proven our solution to this issue is a successful one. We are now looking ahead to the Stable Beta launch which will demonstrate our ability to overcome this issue on a mass scale.” said Komodo CTO, Kadan Stadelmann.

Popular exchanges often struggle to keep up with spikes in demand making for poor user experience and cryptocurrency traders who are unable to participate during crucial market periods.

Test

During the latest and final testing for AtomicDEX, Komodo DeFi Engine (the underlying engine that powers AtomicDEX) completed 170K swaps, an amount up 10,000% since the prior testing phase – proving the ability of AtomicDEX to scale rapidly.

Using only two independent blockchains, this stress test showed AtomicDEX could handle 10,000 swaps per minute, over 1,000 people participated in this, the final stage of testing for AtomicDEX.

In addition, AtomicDEX supports trustless trading for dozens of blockchain networks, not just Ethereum and ERC-20 tokens. Bitcoin, Litecoin, Dogecoin, and other assets are tradeable cross-chain.

Because AtomicDEX doesn’t run on smart contracts, token creators can’t execute rug pulls – which have caused traders to lose millions of dollars worth of crypto on ECR20 DEXs – the architecture of AtomicDEX completely prevents a rug pull scenario.

AtomicDEX enables users to trade via atomic swaps – meaning traders can exchange crypto directly, peer-to-peer, across any number of blockchains without the need for a third party or intermediary.

This permissionless and decentralized system captures the essence of blockchain technology – democratic and transparent recordkeeping where the users themselves retain custody.

With testing now complete, AtomicDEX stable beta launched today Friday, February 26th at 18:00 UTC to enable cryptocurrency investors to access efficient and reliable trading, while never losing custody over their digital assets.

Source: komodoplatform.com

Source: https://www.cryptoninjas.net/2021/02/26/komodos-atomicdex-stress-test-proves-success-as-a-scalability-solution/

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Blockchain

Meet The Kraken Bank Executive Team: CEO David Kinitsky

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First revealed last September, Kraken is quietly hard at work gearing up to launch Kraken Bank. This exciting new venture is helping to shape the landscape for both Bitcoin and other cryptocurrency services – and the banking industry – well into the future. 

While we can’t reveal all the details yet, we sat down with Kraken Bank CEO David Kinitsky to get a glimpse into how he’s leading the charge to ensure the next generation of financial firms are built with the next generation of assets in mind. 

David brings more than 15 years of experience in cryptocurrency and financial services. He helped launch a streak of innovations with Grayscale, Fidelity, Circle, SecondMarket, and the private investment funds he’s managed.

He’s full of industry knowledge and always adds a colorful perspective to the conversation. Enjoy!

Hi David! You worked at some of the biggest names in the industry. How did you get into crypto, what were those experiences like?

I first came across Bitcoin when I was working at a company called SecondMarket, which would become Digital Currency Group, one of the largest players in this industry. SecondMarket built marketplaces for illiquid, esoteric, and emerging assets. Eventually we got into Bitcoin and sold the legacy business to NASDAQ. 

I took the lead in setting up Grayscale, structuring it’s first and flagship product – the Bitcoin Investment Trust – and served as GM of the business, which I ran for the next couple years. Today, Grayscale is the largest digital asset manager in the world with some $25-30 billion assets under management. (Big shout out to the team over there that took the baton, executed with remarkable consistency, and grew it into the juggernaut it is today.)

I left Grayscale to join Fidelity as their first digital asset hire, helping them to develop their strategy in the crypto space. I also ran a proprietary crypto fund there as a co-portfolio manager alongside the team that now runs Castle Island Ventures, an early stage VC firm focused on crypto.

My next stop was at Circle where I helped to restructure their business, refocus it around their USDC stablecoin, and relaunch with their payments/treasury platform.

Finally, when I saw Kraken pursuing the SPDI bank, I jumped at the opportunity and went all in, moving along with my family to Wyoming where the bank is based. It’s important infrastructure for Bitcoin and crypto, and is also reshaping traditional banking and financial services.

There is a lot of discussion about regulating cryptocurrencies. What do you find fascinating about bitcoin in this respect and how do you look at regulation of the space?

There’s not just a lot of discussion about regulating, there’s real regulating going on already. I sometimes hear this misunderstanding that crypto is not regulated. It’s regulated in the same way we regulate most financial services and other industries – by regulating the services providers and the actions taken by users. Just look at crypto companies and the licensure/registrations they maintain.

We should want to be especially smart about how we regulate these crypto companies as compared to their more traditional counterparts. There’s a key distinction to consider. In traditional financial services – say banking or brokerage or whatever – end users have no other alternative to access these services. They can’t opt out. If you want to send money across space and time, you need a bank or other financial service provider. Crypto is different. Users can receive, hold, and send their own assets themselves. It may be clunky for some, but they can do it. So there is some level of burden above which users will just not use the key nexus through which regulation is enforced. And the first ones to leave are the “bad guys” you want to be able to oversee.

I’ll also say that crypto provides new tools and abilities. For example, financial institutions can incorporate verifiable proof of reserves or to build other auditable assurances into their operations to ensure they’re solvent and doing what they say they are.

I’m optimistic that we’ll be able to thread the needle on the right regulation in the long term, and just hope we don’t shoot ourselves in the foot nearer term.

What about political and public opinion? How is Bitcoin and crypto currently being viewed and how might that affect its status and regulation?

It’s a good question. Absolutely foundational. After all, law and regulation arise out of policy objectives that take into account certain cost-benefit tradeoffs. Historically, we haven’t been able to have these serious conversations about Bitcoin or crypto here in the US because of some absolutist or ill-informed opinions. 

The most common is that there’s no use case other than speculation or illicit activity, and no reason to make any accommodations within the existing system. I do think that more recently – especially in this macro environment – there’s an increasing appreciation for the benefits that Bitcoin provides as a store of value and in terms of censorship resistance, as well as an openness to the other opportunities crypto could create in the future. There’s also starting to be some recognition that Bitcoin and crypto will continue to operate regardless, and will simply do so outside of the existing financial system if we don’t pave a path for them within it.

Another is that they’re necessarily adversarial to America somehow, or simply incompatible with our laws, regulation, and institutions. But, Bitcoin is as American as apple pie. Its values are exactly the same as American values – free speech, free association, free enterprise, individual liberty, property rights, and so on – all the principles this country was founded on and the engines for growth throughout our history. And either way, the fact is that Bitcoin exists and other countries are getting involved. It’ll be critical that the U.S. maintain a position in this emerging industry to ensure its global competitiveness and national economic security.

What is it about Kraken Bank that makes this a venture worth building? 

I do actually think that this initiative has some symbiotic elements to it, but – and maybe it’s gauche to say these days – we’re building Kraken Bank because it achieves some very clear organizational objectives of ours. 

It provides the business with better legal/regulatory positioning, improved infrastructure and resultant customer experience, and more product/market opportunities. More broadly, it supports Kraken’s mission of promoting crypto adoption to enable more financial freedom, by seamlessly connecting crypto all the way down to the bottom of the financial services stack, which is entirely buttressed by banking. It puts us in a position to help shape the future of banking and it incorporates crypto.

Finally, I’m excited to help develop the ecosystem right here in Wyoming. Banks have always played important roles and re-invested within their communities. Kraken will be no different. We’re not carpetbaggers. We want to be connected to communities where, and with which, we conduct business – and to build something special together. 

Want to help? Kraken and Kraken Bank are actively hiring, with new jobs posted periodically on the company’s careers page.  If you don’t see a role at the bank that’s right for you today, stay tuned for more listings soon!

Thank you David. 

-The Kraken Team

Source: https://blog.kraken.com/post/8049/meet-the-kraken-bank-executive-team-ceo-david-kinitsky/

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Blockchain

Lido teams with Unslashed to cover $200M worth of staked ether against slashing risks

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Lido, a liquid staking solution for ETH 2.0, today announced a partnership with Unslashed Finance, a blockchain-based insurance protocol, to cover approximately $200 million worth of staked ether from slashing. In a DAO-a-DAO transaction, the Lido DAO completed a purchase of slashing cover for 196,749.86 stETH protecting Lido stakers against up to 5% in slashing penalties for stakers with Lido.

This new partnership works to:

  • Provide a safer staking experience for users to encourage inclusivity and transparency.
  • Build trust between Lido and Ethereum stakers; demonstrating the efforts that the Lido DAO takes to protect stakers.
  • Set the precedent that staking insurance is a must-have for serious staking services.

“The need for a partnership of this caliber stems from the existence of an inherent slashing risk on Ethereum 2.0 when staking to Eth2 validators. Slashing refers to the forfeiting of rewards and subsequent losses for an Ethereum validator due to a multitude of factors associated with breaking network consensus; including node downtime or double-signing. It represents a penalty for ineffective validation and results in a loss of funds for validators and, subsequently, for entities staking with these validators.”
– The Lido Team

Since Lido went live in December 2020 as the first liquid Ethereum staking solution; the platform has staked more than 180,000 ETH (around $270,000,000) in its contracts, deposited amongst more than 3370 unique stakers.

Operating with Unslashed will protect Lido stakers against balance decreases associated with slashing and offline penalties for validators across the Lido DAO, mitigating one of the fundamental risk factors associated with Eth2 staking.

Launched in January 2021, Unslashed has now sold more than $400 million worth of protection, and has seen more than $70 million worth of capital used to underwrite a variety of insurance policies. Their first structured insurance product, named Spartan Bucket, contains 24 different policies ranging from Uniswap smart contract insurance to protection against slashing on Lido’s liquid Ethereum staking service.

Source: https://www.cryptoninjas.net/2021/02/25/lido-teams-with-unslashed-to-cover-200m-worth-of-staked-ether-against-slashing-risks/

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