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arter45
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You can generate transactions but ultimately transactions are validated and written in the blockchain by miners. Mining is essentially a way to select voters based on their ability to solve puzzles, ensuring that if you are selected once you have no particular advantage next time. Without miners this whole system doesn’t work.
So...
>“It used to be the news channels were the callers,” said Kane. “They used to be the final say in big events. Like this officially happened because CNN and Fox News said so. But thanks to Polymarket, there’s a new signal.”
This is interesting because of this:
>At the moment, when there is a dispute, markets on Polymarket are settled by an anonymous group of people who hold a crypto token called UMA.
[...]
>It isn’t known who the largest UMA holders are, or what might affect how they vote. It is entirely possible that the people who finally settle a bet on UMA have large amounts of money staked on it.
So basically instead of trusting CNN and Fox News you trust an anonymous group of people who may or may not profit themselves from their own decisions. I can't see how this is any better.