I’m interested to hear your thoughts on how a model like TruStory can protect against cases where the majority is wrong. Or does TruStory rely on the majority always being right? If so, do you think assuming that the majority is always right will cause any potential issues? Thanks!
In designing the system, one of our core goals was to design a mechanism that can do better than just using a simple majority. The system incentivizes users to seek the truth, even if they are in the minority. There are checks and balances in the token incentives such that even if those who know the truth are in the minority, they have a chance to convince the majority of their findings, and economically benefit from doing so.
We’ll be publishing a whitepaper in the coming months that explains this more in detail
Thanks! Looking forward to reading it.
Interesting point . Yes majority can be wrong – It is happens in all fields for example in medicine - entire medical community may be wrong at point of time in understanding disease / pro or cons of traditional medicine . This happens when
- Facts are partially known
- People focus on symptoms and not real cause
- People are more emotional and hence develop blind spots
But most of these self correct over a period of time . The way I look at this forum is we need to be open to ideas and our ability of make mistakes and correct it over time .
If we can do that we can grow & learn as community and be better in future
exactly. I couldn’t have said it better