In today’s corporate model that commercializes and exploits the things that are most personal and most private is currently under the spotlight in the media. Including in prediction markets, where several platforms has established them self as fair and allow their users to bet on the outcome of an event and having data from the event outcome. Although prediction markets were around before the Blockchain, their centralized structure grew far too problematic.
Stox uses blockchain technology and smart contract to execute prediction market platform. By eliminating central authorities, Stox solves one of the most serious problem in the industry. Reducing non transparent process and risk results in predictable operation.
Anyone, experienced and non experienced, can benefit from the easy to use Stox app.
Using centralized prediction market platform, means that users have to trust the platform provider, sometimes anonymous and illegal centralized websites that could easily take off with users money, or get shut down by government regulators leaving users without payouts and without any chance of recovery on their losses. In the Stox ecosystem, for example event operators are required to provide a collateral in STX tokens which is locked in a smart contract for 24 hours past event resolution. The collateral amount should be proportional to the amount of STX placed on all outcomes.
Trading will be conducted through the STX token, anyone who wants to trade (submit a prediction) or open a prediction on a particular event will do so using STX tokens. When prediction begins, STX reserves will be allocated, which may increase market demand for STX.
Stox’s oracle will act as consensus agents that retrieve real world event data and record the outcomes on the blockchain. This is then used by the network to determine winning predictions.
As a blockhain prediction markets platform, Stox delivers a secure, private, and safe prediction markets platform to the entire world. Users able to avoid the high fees and intransparency prevalent in today’s industry, as accessible, fair and safe. Stox users can also build new markets, make predictions, trade with peers and make profit on one decentralised platform.
Having said that, Stox does play an important role not only in the prediction markets but also on the blockchain technology.
