Predictive Markets

Blockchain prediction markets enable individuals to bet on the outcome of specific real-world events. Due to their very nature, blockchain-based prediction markets, are reliant on external data to settle outcomes. Oracles provide a decentralized, tamper-resistant source of external data that can be used to trigger the settlement of prediction markets as well as payment to the winners. Prediction markets have been created around sporting events results, political election outcomes, and cryptocurrency roadmap completions and price predictions, but ultimately prediction markets can encompass any type of wager as long as there are takers on the other side.

Lottery Games

Advancements in DeFi composability have led to innovative applications such as no-loss savings games—dApps which pool user deposits and lend them out on a decentralized money market in order to accrue interest. After a specified time frame, a winner is selected, earning all the accumulated interest from the pool. After the winner is chosen, all users are able to withdraw their original deposit without any loss.

Sports Betting/ Event-Based Gambling

Price feeds provide integrity to the execution of an online sports bet, and verify sporting outcomes by aggregating data from reliable web APIs. These smart contracts (usually in the form of prediction markets) can be based on a match’s result, individual performances, or even something as seemingly inconsequential as a game’s opening coin toss. On top of that, it’s possible for eSports prediction markets to retrieve gaming data and broadcast it on-chain to determine the winners.

Predictive Markets