Crowd Prediction are a powerful tool for generating insights which are beyond the reach of data and market research. The evolution of blockchain technology has given rise to several new prediction market applications. These platforms utilize digital currency to provide a decentralized, real-money (tokens) prediction market.
While other platforms appear to be focusing on providing traditional markets, Stox is focusing on becoming a prediction market platform on a novel applications and broader categories. Stox believes that thinking and information processing (cognition), coordination (optimization of the utilization), and cooperation (how groups for networks of trust) applies to co-creation, and principles of the crowd prediction.
Stox is a prediction market platform that rewards the users for correctly predicting the future events (a decision market to capture collective wisdom). Stox prediction markets allow users to purchase and sell shares in the outcome of an event. Users can enjoy predicting everyday events in real time, and potentially profit from the outcome.
Blockchain technology, the power behind the distributed ledgers that allow for digital currency, is applied in new ways every day. Stox use their power to shape the world.
Stox combines the magic of prediction markets with the power of decentralized networks to create a stunningly accurate forecasting tool. This all happens on the blockchain. In a centralized prediction market, one person has to report back on the outcome of the event. This encourages mistakes or even corruption. Stox is decentralized and uses blockchain with thousands of users reporting on outcomes using reputation. With Stox, anyone anywhere in the world can create a market by asking about anything.
The benefit of prediction markets is that they offer the ability to incorporate disparate information to provide predictions on future events.
People believe that one day there will be prediction markets for everything. Where every question can be easily solved by pointing to an existing prediction market (or creating a new one) and having their question answered to the full extent of human knowledge.
Unfortunately, the number of assets that exist in a market category is inversely proportional to the liquidity of each of the assets. This is part of where Stox partner with Bancor to maintain liquidity. Bancor is an ERC20-compatible token template, which offers continuous liquidity via an on-chain market maker. With this integration, anyone can buy or sell STX at any time, without risk of not having a counterparty, and at predetermined cost (even “slippage” exchange rate changes during the trade can be calculated in advance)
