Topic: [ANN][UMOK] Universal Map Of Knowledge - page 3. (Read 12746 times)
At glance it looks very interesting though I didn't dig deep in it yet. I would be reading more later but it caught me attention. I will surely ask question if there will be any after understanding the project and surely will throw some suggestions where will it be needed.
Prediction Markets In A Nutshell:
Prediction markets are a way to bet on future events. The way prediction markets operate today resemble gambling rather than investing. There is no underlying asset to extract value from after the bet has been settled. The main vulnerability of prediction markets is the need for a trusted third party to settle the bet. While one could try to decentralize the platform that is used for bets, the way the outcome of the event is decided is still a point of failure in the system.
The solution to the problems mentioned above is to turn future events into digital commodities.
To understand how to do so in full, please read the following https://medium.com/@keyuno/constructing-universal-map-of-knowledge-7fcd03a084d9. In short, by utilizing bitcoin blockchain it is now possible to commodify and interlink any event imaginable, including future events. The platform that used to commodify the events is counterparty. Counterparty resides on top of bitcoin, which means that all digital assets that are created via counterparty gain the security of the bitcoin network.
Counterparty contributes to the bitcoin ecosystem by creating an additional use case – each counterparty transaction has to include a btc fee.
Future Events As Digital Commodities:
By following the instructions specified in the 'constructing universal map of knowledge' article (linked above), one can become an owner of a future event asset. Because future events are treated as digital commodities, price discovery mechanism becomes one of the tools used to predict the outcome of an particular event. The greater market value an asset that anchors a version of a future event has, the greater probability that the event it anchors will occur in the future.
One of the major features of the counterparty protocol is a decentralized exchange. The decentralized exchange removes the need to trust a third party to facilitate the trading of future event assets. The assets are always under the control of the traders, and the transactions are secured by bitcoin network.
Unlike traditional prediction markets, asset based prediction markets are not a zero sum game. Events that did not occur in 'consensus reality' could still have value as being part of an alternative timeline. Fictional/simulated timelines and the events that happen in them can be registered as independent events and be a part of a larger construct.
Value:
The value of event assets is largely based on the fact that they are highly resistant to forgery.
In general, the invention of bitcoin technology is the invention of digital scarcity.Bitcoin was created to allow people to send digital information between each other in form of a token (btc). None of the participants can retain a valid copy of a token after the transaction has been made and there is no need to trust a centralized service to validate the transactions.
All the transaction are recorded on a distributed public ledger. The fundamental value of a distributed public ledger is the secure environment it provides that allows people to publish/send certain information without trusting any third party.
Information that has been written into the ledger is automatically timestamped, anyone can view it and nobody can modify it. Centralized services cannot provide ‘objective’ timestamping simply by design, information can be edited by service operators and they are easier to attack.
In order to record the information into the distributed public ledger, a fee is paid to the those who invest resources to secure it (bitcoin miners). The ‘objectivity’ of a distributed public ledger is measured by the amount of resources the attacker has to use in order to undermine its’ integrity.
When counterparty is used to create event assets, the events assets are ‘objectively’ timestpamed and secured by bitcoin network. The timestamping is used to differentiate between particular events. The first to capture the event is the event owner.
Authentication:
Today we use physical objects as anchor points to culturally significant events. Physical objects have to be authenticated by experts in order to maintain their relevance and value. One cannot be completely certain that the object itself is authentic because there is a need to trust a third party. The process of authentication without the need to trust any third party is built into the counterparty protocol. That means that digital assets become more concrete representation of events, because they are more easily authenticated than physical objects.
Additionally, culturally significant events that have no physical anchor points can now have digital objects to serve that purpose. It can easily be verified when a particular event was first recorded and there is no need to trust a centralized service to do so.
Connections:
The 'constructing universal map of knowledge' article, described how to connect event assets in a two-way link via value communication.
The greater quality connections future event assets have, the greater predictive power they gain. A greater insight could be derived from observing the connections of future events, as future events can be connected by 'if/then' type of branching structure.
Event assets owners have economic incentive to connect their events to future events that they believe have higher probability to occur as it could increase the value of the assets they own. The owners that don't protect the integrity of the information associated to the event assets, including the validity of connections, will risk the decline of monetary value of their assets. This is the main economic incentive that will insure the existence of reliable information, essentially putting an end the 'fake news'/'post truth' era.
Conclusion:
Having insight into future events and access to reliable information could improve our decision making ability and benefit humanity as a whole.
Prediction markets are a way to bet on future events. The way prediction markets operate today resemble gambling rather than investing. There is no underlying asset to extract value from after the bet has been settled. The main vulnerability of prediction markets is the need for a trusted third party to settle the bet. While one could try to decentralize the platform that is used for bets, the way the outcome of the event is decided is still a point of failure in the system.
The solution to the problems mentioned above is to turn future events into digital commodities.
To understand how to do so in full, please read the following https://medium.com/@keyuno/constructing-universal-map-of-knowledge-7fcd03a084d9. In short, by utilizing bitcoin blockchain it is now possible to commodify and interlink any event imaginable, including future events. The platform that used to commodify the events is counterparty. Counterparty resides on top of bitcoin, which means that all digital assets that are created via counterparty gain the security of the bitcoin network.
Counterparty contributes to the bitcoin ecosystem by creating an additional use case – each counterparty transaction has to include a btc fee.
Future Events As Digital Commodities:
By following the instructions specified in the 'constructing universal map of knowledge' article (linked above), one can become an owner of a future event asset. Because future events are treated as digital commodities, price discovery mechanism becomes one of the tools used to predict the outcome of an particular event. The greater market value an asset that anchors a version of a future event has, the greater probability that the event it anchors will occur in the future.
One of the major features of the counterparty protocol is a decentralized exchange. The decentralized exchange removes the need to trust a third party to facilitate the trading of future event assets. The assets are always under the control of the traders, and the transactions are secured by bitcoin network.
Unlike traditional prediction markets, asset based prediction markets are not a zero sum game. Events that did not occur in 'consensus reality' could still have value as being part of an alternative timeline. Fictional/simulated timelines and the events that happen in them can be registered as independent events and be a part of a larger construct.
Value:
The value of event assets is largely based on the fact that they are highly resistant to forgery.
In general, the invention of bitcoin technology is the invention of digital scarcity.Bitcoin was created to allow people to send digital information between each other in form of a token (btc). None of the participants can retain a valid copy of a token after the transaction has been made and there is no need to trust a centralized service to validate the transactions.
All the transaction are recorded on a distributed public ledger. The fundamental value of a distributed public ledger is the secure environment it provides that allows people to publish/send certain information without trusting any third party.
Information that has been written into the ledger is automatically timestamped, anyone can view it and nobody can modify it. Centralized services cannot provide ‘objective’ timestamping simply by design, information can be edited by service operators and they are easier to attack.
In order to record the information into the distributed public ledger, a fee is paid to the those who invest resources to secure it (bitcoin miners). The ‘objectivity’ of a distributed public ledger is measured by the amount of resources the attacker has to use in order to undermine its’ integrity.
When counterparty is used to create event assets, the events assets are ‘objectively’ timestpamed and secured by bitcoin network. The timestamping is used to differentiate between particular events. The first to capture the event is the event owner.
Authentication:
Today we use physical objects as anchor points to culturally significant events. Physical objects have to be authenticated by experts in order to maintain their relevance and value. One cannot be completely certain that the object itself is authentic because there is a need to trust a third party. The process of authentication without the need to trust any third party is built into the counterparty protocol. That means that digital assets become more concrete representation of events, because they are more easily authenticated than physical objects.
Additionally, culturally significant events that have no physical anchor points can now have digital objects to serve that purpose. It can easily be verified when a particular event was first recorded and there is no need to trust a centralized service to do so.
Connections:
The 'constructing universal map of knowledge' article, described how to connect event assets in a two-way link via value communication.
The greater quality connections future event assets have, the greater predictive power they gain. A greater insight could be derived from observing the connections of future events, as future events can be connected by 'if/then' type of branching structure.
Event assets owners have economic incentive to connect their events to future events that they believe have higher probability to occur as it could increase the value of the assets they own. The owners that don't protect the integrity of the information associated to the event assets, including the validity of connections, will risk the decline of monetary value of their assets. This is the main economic incentive that will insure the existence of reliable information, essentially putting an end the 'fake news'/'post truth' era.
Conclusion:
Having insight into future events and access to reliable information could improve our decision making ability and benefit humanity as a whole.
I was astonished that I was able to finish reading the website in its full, though I must say I was not able to understand some of it. Is the article saying that you can create tokens of your own using this map?
Thank you for the feedback.
The creation of event assets is open to anyone willing to pay the necessary fee.
The technology that allows to do so is https://counterparty.io/.
Among other things counterparty enables users to create assets that are secured by bitcoin network.
The medium article explains how to use counterparty to anchor any type of event into bitcoin blockchain and also how to connect the events via value communication.
https://medium.com/@keyuno/constructing-universal-map-of-knowledge-7fcd03a084d9
By following the instruction explained in the article one can become an owner of event assets and as a side effect contribute to the construction of universal map of knowledge.
The first connection has been established.
The events are:
Digital Identity event asset: 'KEYUNO' https://xchain.io/asset/KEYUNO
Event created by KEYUNO: 'Universal Map of knowledge' https://xchain.io/asset/A13816613793173416000
Events are now connected via value communication in a two-way link and secured by bitcoin network:
Transaction 1: from 'KEYUNO' address to 'Universal Map Of Knowledge' address https://xchain.io/tx/1059653
Transaction 2: From 'Universal Map Of Knowledge' address to 'KEYUNO' address https://xchain.io/tx/1059733
The events are:
Digital Identity event asset: 'KEYUNO' https://xchain.io/asset/KEYUNO
Event created by KEYUNO: 'Universal Map of knowledge' https://xchain.io/asset/A13816613793173416000
Events are now connected via value communication in a two-way link and secured by bitcoin network:
Transaction 1: from 'KEYUNO' address to 'Universal Map Of Knowledge' address https://xchain.io/tx/1059653
Transaction 2: From 'Universal Map Of Knowledge' address to 'KEYUNO' address https://xchain.io/tx/1059733
I was astonished that I was able to finish reading the website in its full, though I must say I was not able to understand some of it. Is the article saying that you can create tokens of your own using this map?
This is an incredible concept!
Thank you Cryptotina. I hope you join. You can look for events that already been registered on https://xchain.io/.
the link you gave .. sends to a blockchain explorer! where is this ANN headed? why do you keep sending people off this website to find nothing on the other end?
xchain.io is counterparty asset explorer.
This is one example of an event asset:
The Wealth of Nations, Adam Smith https://xchain.io/asset/A9369242554893281000
To understand what is universal map of knowledge you need to read this post:
https://medium.com/@keyuno/constructing-universal-map-of-knowledge-7fcd03a084d9
This is an incredible concept!
Thank you Cryptotina. I hope you join. You can look for events that already been registered on https://xchain.io/.
the link you gave .. sends to a blockchain explorer! where is this ANN headed? why do you keep sending people off this website to find nothing on the other end?
This is an incredible concept!
Thank you Cryptotina. I hope you join. You can look for events that already been registered on https://xchain.io/.
This is an incredible concept!
Thank you for your feedback l10no.
Security is priority number one, this is why I selected https://counterparty.io/.
Security is priority number one, this is why I selected https://counterparty.io/.
It seems interesting, turning anything we have on the internet into a more valuable asset, and of course with a very good level of security, a very good concept for internet perkembangn in the future.
you have a good looking website
hopefully going well
you have a good looking website
hopefully going well
Cool. Are you looking for help to construct the knowledge map?
The best way to help with the construction of the map is by active participation, that means registering and connecting events.
I suggest searching Wikipedia for events you might want to own.
Thank you for offering help.
Cool. Are you looking for help to construct the knowledge map?
1. Digital Assets:
All information has hidden monetary value. Be it artistic expression, scientific discovery, cultural artifact, natural phenomena, digital identity, a blog post, a photo or a tweet, all of it are examples for events that can be turned into digital assets by using counterparty protocol.
2. Security:
Counterparty protocol resides on top of bitcoin blockchain. That means that all event assets are backed by bitcoin security. The practice of event anchoring is open to everyone.
3. Web Of Value:
Without context content has no value. To create greater context, the events can be linked with each other via value communication.
4. Purpose:
The purpose is to construct a universal map of knowledge which will provide access to reliable information to anyone with an internet connection.
5. No Nonsense:
This is a method to record, commodify and connect events in a trustless and most secure way possible. No vaporware or ICO.
The technology to generate the raw data exists today.
Read in full: https://medium.com/@keyuno/constructing-universal-map-of-knowledge-7fcd03a084d9
Article Summary:
Structure:
The universal map of knowledge consists of two parts:
Event Commodification:
Value Communication:
UMOK Token:
UMOK means Universal Map Of Knowledge. There are 31,415,926,535 amount of tokens. The amount is locked and is divisible. To increase the probability of receiving the UMOK token, one should search the counterparty blockchain explorers for events, and create event assets that could provide greater context to the events that already been created. This will drive the current owners of events, that already have UMOK tokens, to establish connections with your assets.
Twitter: https://twitter.com/officialkeyuno
Explore: https://keyuno.github.io/masterkey/
Blog: https://medium.com/@keyuno/
All information has hidden monetary value. Be it artistic expression, scientific discovery, cultural artifact, natural phenomena, digital identity, a blog post, a photo or a tweet, all of it are examples for events that can be turned into digital assets by using counterparty protocol.
2. Security:
Counterparty protocol resides on top of bitcoin blockchain. That means that all event assets are backed by bitcoin security. The practice of event anchoring is open to everyone.
3. Web Of Value:
Without context content has no value. To create greater context, the events can be linked with each other via value communication.
4. Purpose:
The purpose is to construct a universal map of knowledge which will provide access to reliable information to anyone with an internet connection.
5. No Nonsense:
This is a method to record, commodify and connect events in a trustless and most secure way possible. No vaporware or ICO.
The technology to generate the raw data exists today.
Read in full: https://medium.com/@keyuno/constructing-universal-map-of-knowledge-7fcd03a084d9
Article Summary:
Structure:
The universal map of knowledge consists of two parts:
- A method to record and commodify events.
- A method to map out events via value communication.
Event Commodification:
- Begin by creating a new asset. The process is adjusted to https://counterwallet.io/.
- Name the asset and in the description field write the description of the event.
- This is the standard format: common description of the event + the name of the event creator (only if known) + the period of time of the event (only if known).
For example: ‘Eureka, Edgar Allan Poe (1848)’ https://xchain.io/asset/A10972963311043207000. - Set “Quantity” to ‘1’, uncheck “make divisible” box and create the asset.
- If necessary, make an additional transaction to complete the description, but remember to keep it short and simple.
- Finish the process by selecting “Lock Token Issuance”.
Value Communication:
- To attach a particular address to an asset, you first need to broadcast the name of the event asset from the address.
- Linking particular address to one asset signals to the market which asset belongs to which address and that the address is open for accepting new connections.
- To broadcast, enter counterwallet, broadcast the name of the asset from the address that belongs to the asset and finish by locking the broadcast feed. To do so broadcast ‘LOCK’ message.
- Search for assets to connect to by using different counterparty blockchain explorers, for example: https://xchain.io/.
- Send an arbitrary amount of UMOK token from the address connected to your event asset to the address that is linked to the asset you wish to connect to. If connection is accepted, you will then receive an arbitrary amount of UMOK token back.
- A two-way link will then be established, and a greater context for both of the events will be created.
- In order to move your asset and connections to a different address, you first have to send the asset to a new address, then broadcast the name of the asset from the new address, lock the broadcast, and finally send the exact amount of UMOK token to the new address from the old one.
- To disconnect, one simply has to send the UMOK token from the connected address to a different address.
UMOK Token:
UMOK means Universal Map Of Knowledge. There are 31,415,926,535 amount of tokens. The amount is locked and is divisible. To increase the probability of receiving the UMOK token, one should search the counterparty blockchain explorers for events, and create event assets that could provide greater context to the events that already been created. This will drive the current owners of events, that already have UMOK tokens, to establish connections with your assets.
Twitter: https://twitter.com/officialkeyuno
Explore: https://keyuno.github.io/masterkey/
Blog: https://medium.com/@keyuno/
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