Stox wants to provide a trustless, borderless, secure, and reliable prediction markets platform powered by blockchain.
The users are central to the Stox ecosystem. That is why all the prediction markets would be written in the smart contract, where no-one could control them. This provides a fair and sufficiently predictions for every users.
Stox platform extends to operators who are interested in bringing along their business model through the platform; and operators to join and build a platform that is trustless, borderless and powered by blockchain technology.
The most important part is that Stox platform is not limited to a specific market, it can be used for many other purposes. It is, like all other blockchains, a completely open source, free and secure app that can be used to host a variety of other apps.
There are three types of agents operating on Stox ecosystem: providers, operators and users. Providers are the ones who drive traffic into the ecosystem and develop new apps based on Stox’s open source prototype app. Operators create, manage and resolve events. Any individual, company or organization may become a provider or an operator. Moreover, it is possible for a single entity to be both a provider and an operator.
Stox ecosystems motivates providers and operators to cooperate through event syndication and user affiliation to maximize each party’s relative advantages. As a result, providers may benefit from cooperating with multiple operators and vice versa. Last but least are the users, who are the investors taking part in events.
Trust & Reliability
Payments are sometimes a problem for users in this industry. Payment issues have been long-standing problems due to legislation put on a very low transfer and deposit limit. There are also other situations where a lawsuit was filed against defaulters. Issues such as these are what Stox is positioned to eliminate from the industry with the blockchain powered prediction markets.
There are also cases where the host server shuts down and then the users would have to be left at the mercy of the host because he would have to embark on a rigorous process of ensuring a refund of his predictions. But with Stox platform, from the point where people choose their market, to the point of payment, are all based on smart contract powered by the blockchain technology, in a one token economy called STX token.
STX token will be a single currency used both for the operation of the Stox network (transaction fees, syndicate payments, oracle payments) and as the functional currency for predicting event outcomes. Like other similar cryptocurrencies, STX is fractionally divisible, transferable and fungible.
Stox will bring lots of benefits to the current system especially to the users because it will create a decentralized, transparent, anonymous and fair system.
