Introducing the PredIQt Protocol White Paper

Today we’re excited to share the first version of the PredIQt Protocol White Paper for community feedback and review.

We believe that a white paper should serve as an ongoing form of documentation that defines the overall architecture, status, and goals of a given project. PredIQt is a novel type of EOS dApp, and it will likely evolve significantly as time goes on. This white paper will be continuously updated to reflect new changes to the PredIQt protocol. Future changes to the white paper will be posted directly to the PredIQt website.

The PredIQt protocol is designed to be a neutral and flexible layer upon which any type of prediction market or prediction interface can be built. The Everipedia team will be taking the lead in building the first app on top of the PredIQt protocol, and we are excited to see the growth and proliferation of various prediction markets on EOS.

Our current plan is to release PredIQt in two phases. First, we’ll release an MVP that contains all of the core features needed for users to create EOS-based prediction markets. Our goal is to allow the community to experiment with the product, test it in a real-world environment, and then use that experience to further improve upon what we’ve built. Later, we’ll release updated versions of the protocol that add new features, increase the options available to users, and address any pieces of the system design that need further improvement. We’ve outlined in the white paper a number of future options and updates that we’re exploring.

We’re strong believers in the ethos and vision of the open-source software movement, and we plan to open-source all of the core code that powers PredIQt. This will allow members of the EOS community to study the code and leverage the protocol in novel ways. When we debut the initial PredIQt dApp, users will finally be able to buy and trade shares in the outcomes of real world events through an easy, intuitive interface. We’re looking forward to lots of constructive criticism from the EOS community!

Please feel free to share feedback by joining our Telegram conversation or pinging us on Twitter. Stay tuned for more articles in the future that dive into specifics around oracles, resolution systems, and system design!

Check out the full white paper here.