Should We Have Decentralized Prediction Markets On HIVE?

in dPoll4 years ago

Should We Have Decentralized Prediction Markets On HIVE?


I first made myself familiarized about prediction markets in 2017 with the advent of cryptocurrency projects such as Augur and Gnosis. I have made few trades and I had high hopes for them. They have both released working products. What they lack is this very important thing called trading volume. these days the presidential elections of USA has high interest in these betting platforms. But it seems that barely anybody is using them.

A Functional decentrlized Project Before A Perfect One

I am perfectionist. But I do understand that perfection can be achieved in few smaller steps. HIVE does not have what it takes to become a prediction market at the base layer. Yet through utilization of a second layer, we can have few advantages:

  • 1000+ Users at launch with zero marketing
  • An already crypto savvy audience
  • Everybody who owns HIVE will want the prediction market to succeed
  • The infrastructure is there - Simply login with Keychain
  • Users may turn to bet with their liquid HIVE from post earnings
  • Easy networking, support and discussion

Augur Alone Has $25 Million USD Marketcap

What is even better is the $17,415,018 24 hour trading volume. There are already many DeFi projects and the biggest players with hundreds of millions of trades happening are on Ethereum; an old, slow network with Gas fees that most HIVE/STEEM/EOS users are not even willing to tolerate. It is obvious that HIVE is lacking in many departments when it comes to DeFi and prediction markets. We should not worry about that and play for our strengths.

Quick Trivia: Prediction markets are also known as betting markets, political betting markets, predictive markets, information markets, decision markets, idea futures, event derivatives and virtual markets.

Tagging: @khaleelkazi @aggroed @yabapmatt @theycallmedan


  • Yes, We Should Have Prediction Markets ASAP

  • No, We Should Focus On Social Media & Games Instead

  • I Must Do More Research On The Subject Before Answering

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I certainly think a predictions market is viable. There is no reason why I cannot succeed.

Auger appears to be having success, especially after it upgraded to V2.

The more on Hive, the better in my opinion. Layer 2 solutions can really help.

Posted Using LeoFinance

You should definitely make a post about prediction markets. that will get the attention of more HIVE developers. https://omen.eth.link is working nicely as well: https://www.publish0x.com/paragism/decentralized-prediction-market-omen-is-on-fire-with-eth-20-xropgko

Thanks @vimukthi. I am glad you think so although I will be honest, I cant profess to have much knowledge in that area. Overall, it isnt my thing on a personal level. That said, I think it is a great idea from a platform perspective.

There are a lot of things that we can add. Unfortunately, it seems like we have a shortage of developers.

Posted Using LeoFinance

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  • Yes, We Should Have Prediction Markets ASAP

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  • Yes, We Should Have Prediction Markets ASAP

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  • Yes, We Should Have Prediction Markets ASAP

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  • Yes, We Should Have Prediction Markets ASAP

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  • I Must Do More Research On The Subject Before Answering

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  • Yes, We Should Have Prediction Markets ASAP

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  • Yes, We Should Have Prediction Markets ASAP

Awesome idea. i'm definitely going to look into Augur & Gnosis, thanks!

Voted for

  • Yes, We Should Have Prediction Markets ASAP

Voted for

  • No, We Should Focus On Social Media & Games Instead

I am neither for nor against decentralized prediction markets. Let developers do what they want, and let people choose whom to support.

Voted for

  • Yes, We Should Have Prediction Markets ASAP

Voted for

  • Yes, We Should Have Prediction Markets ASAP