Hedge fund Numerai has just officially launched Erasure – its crypto-based data gathering and stock price prediction marketplace.

Allowing experts earn or lose funds by staking them on stock market price predictions, the Erasure protocol has been active since June 2017, when Numerai distributed its “numeraire” tokens to data scientists, said founder Richard Craib.

Now, the company is now looking to attract hedge funds worldwide by allowing anyone to buy a prediction.

Built on the ethereum blockchain, Erasure works by allowing members to essentially bet on their predictions. A user can stake a number of the company’s tokens on a specific outcome. If the prediction comes true, the user wins the staked tokens. However, if they are proven false, they lose them.

“We can look at the performance and metrics and other measures and show that the models that get staked perform far better than the models that don’t get staked because people who stake have some skin in the game,” Craib explained.

Now, by allowing public access, data scientists can sell their predictions to other hedge funds by providing proof that their predictions are accurate using historical data on the Erasure marketplace.

At present, a data scientist can build a model based on Numerai’s data, which Numerai may then pay for.

Now that the platform is live, financial institutions and hedge funds worldwide can look at such models and purchase bets.

This helps data scientists build their reputations. While, previously, a hedge fund might have to take a scientist’s word on trust alone, users can now point to immutable data to indicate that they have been correct in their predictions a given percent of the time.

As Craib pointed out, if a data scientist does sell a prediction which winds up being incorrect, the hedge fund can destroy the user’s stake, limiting the fund’s risk and amplifying the user’s.

That being said, the protocol does takes steps to protect users’ predictions. While historical data is publicly accessible, new predictions are hidden from the public – the only way to see it is to purchase the prediction. This ensures that those who make prediction are compensated for doing so.

Craib told CoinDesk that there are currently 44,500 verified accounts on Numerai (up from 19,000 at launch), and the company averages around 1,000 stakes per week. Since its launch, more than $1 million has been staked on the platform, according to the firm.

The firm’s founder claimed:

“If bitcoin’s changing the banking world, Numerai’s changing the hedge fund world.”

Editor’s note: This article has been updated.

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