Prediction market are primarily exchange markets which are used for the requirement of trading the outcome of events. In spite of being awarded for showing accurate outcomes, the prediction market faces a number of challenges. Some of them include the heavy influence of public opinion and the lack of liquidity. It is important to not confuse between the prediction market and betting market. For instance, prediction comes with a social benefit that gambling market lack. The prediction market also has community implications for predicting future events.
The ecosystem
Delphy is a blockchain-based prediction market that allows users to make predictions on real-world events, trade them and make profit based on the accuracy of those predictions. With the increasing penetration of peer-to- peer blockchain technology, the prediction market has taken advantage of the benefits of this technology.
It Is built on the Ethereum system and combines the power of the blockchain with the world-changing power of prediction markets and is currently available as a mobile platform.
http://delphy.org/en/
Delphy Features
Some of the core features of Delphy include Safe and Automated Payments where the user does not have to depend on Delphy for their reward payments. They have a simple and fun user interface coupled with a convenient mobile app which does not require any training to use.
The app is built on Decentralized Smart Contracts to ensure maximum transparency and efficiency.The Delphy ecosystem can be used to predict financial market movements, sports, world events, and more. It’s a multi-functional prediction market that isn’t limited to a single industry.
Delphy Events
The app also has the concept of events which are created by users, based on the future occurrence of events in real world. They can do so by using the Event Editor and Event Template in the app. All they need to do is create the event using the tool and submit a detailed description of all possible outcomes. There are three different outcomes that could possibly arise- Binary, List and Range events.
Binary outcomes are those outcomes that have two or more outcomes but only one correct answer. These outcomes basically have either a Yes/No type of outcomes and do not go beyond two On the other hand, List events have more than one correct answer. Hence, the outcomes could have multiple correct predictions. The third type, which are the range events are events that allow for a range of winning outcomes from one value to another.
These events mentioned above are mostly either open events or invitation only events. The invitation only events are only available for the users who are invited.
TOKEN AND CONCLUSION
Delphytoken’s are denoted by the symbol DPY. It is a token built for the purpose of crowd funding based on the ERC20 standard with a total of 100 million. The ICO has begun July 31, 2017.The tokens are available for purchase in exchange for major cryptocurrencies. Do visit their website for more information regarding the ICO.
The prediction industry coupled with the power of decentralised blockchain network is serving as a boon for the company. Delphy has entered the market at a prime time when the market is growing exponentially. They are steering towards a positive response from the market
For more details visit:
Website : http://delphy.org/en/
Whitepaper : http://delphy.org/en/delphy_whitepaper.pdf
Twitter : https://twitter.com/Delphy_org
Written by: Pooja Jur
Btalk profile: https://bitcointalk.org/index.php?action=profile;u=1217469