Here’s a Bet: Blockchain will revolutionize prediction markets.

in #bitcoin4 years ago (edited)

Prediction games are one of the oldest sources of entertainment and they’ve been a part of communities all over the world. Interestingly, this is an absolutely unbiased pastime as people of all income can partake in it; perhaps this is why it has always been so popular.

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Despite the popularity of all types of prediction markets, their centralized source of enablement has always undermined the interest of anyone who participates. Of course, some bookmakers are honest—perhaps most are honest. But the room for corruption will always create room for dishonesty.

A number of blockchain developments has noticed the benefits decentralized ledgers can provide to this massive industry, and so there’s currently a silent race to create the decentralized prediction market of the future; one project is well-ahead of the competition: WaykiChain, and they recently joined Steemit!

WaykiChain has some similarities to STEEM

WaykiChain utilizes a delegated proof of stake consensus, and also like Steemit, token holders will be able to vote for the delegated nodes. This ensures the community is centric to the development, as it should be in a p2p ecosystem. Furthermore, like STEEM, WICC can be staked to get a passive income from the success of the WaykiChain platform.

Given that STEEM is one of the very few blockchains that has managed to acquire a functional network, system, and product, dPoS driven by community-based (staked) votes might be the right way to develop decentralized frameworks. If WaykiChain can stimulate the kind of interest Steemit has, then dPoS might be the king of consensus mechanisms as it won’t be a one hit wonder.

WaykiChain, which recently made a Steemit account, is developing a blockchain-enabled solution in the predictions and bitting industry and it is giving free tokens to people who answer when they become part of the Crypto community!

Also, tell me the story of how you joined Crypto at the end of this piece to share a pool of 20 STEEM.

Before we head into the WICC Twitter contest details, here’s an explanation of how blockchain can revolutionize prediction markets, betting, and bookmaking.


There’s been a deep shift in how people access prediction markets and betting games. With the rise of the internet, people no longer need to visit a specific vendor of prediction markets as they can gain access to betting games from anywhere they want. This shift is expected to be further extended as internet penetration continues to grow and smartphones become increasingly affordable.

Soon enough, no one would have to go to a physical prediction market to gain access to prediction games.

While the internet has made access to prediction games incredibly convenient and quick, it has not changed the underlying structure of such games. A number of problems exist in any prediction marketplace, irrespective of whether it’s a physical location or an online offering. Almost all of these problems stem from the centralized existence of the market provider.

Problems of a Centralized Structure

The centralized state of prediction market providers develops an environment of information asymmetry and trust-based interactions.

Information Asymmetry: While the participants of a betting game or gamble handle the input of data (their decisions), the outcome is managed by an internal server which can be easily manipulated by the market provider. This provides the market provider with a power over the market and its participants. The overall lack of transparency ensures that, presently, gambling facilities do not function at maximum efficiency as corruption can lead to outcome deviations.

Trust: All participants in any predictions game have to trust that the market provider will act with honesty. While much of business and day-to-day activity revolves around trust, it’s well-understood that not every person or organization follows up on trust. It is for this very reason so many middleman agencies exist for the sole purpose of auditing the validity of an entity’s honesty.

Audits of prediction marketplace providers’ leads to pricier operating costs and this leads to higher fees for the market participants; the system does not operate without friction.

Blockchain-Enabled Solutions

WaykiChain recognizes that decentralized infrastructures for the prediction markets and betting games are the key to resolving the industry’s problems. This blockchain is tailored to fulfilling the needs of the industry as it provides transparency over the platform interactions, over 1,000 transactions per second, and a delegated proof of stake consensus.

Integrating blockchain technology into the prediction markets enables a few benefits. First off, smart contracts handle the fulfillment of data processing and rewards for those who predicted correctly. Thus, there’s no room for interference and the code is king mantra takes over.

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Contest is ongoing

Furthermore, the transparency of interactions ensures that each participation can validate the outcomes as innately handled by the smart contract, thereby giving everyone the power to authenticate that there are no loopholes in the code.

The removal of the trust basis ensures the applications that build atop WaykiChain to offer prediction markets or games are merely platforms and the prediction exchange exists on a p2p basis. This ensures disruptively low operational costs and fees for those who enjoy participating in prediction games.

While the internet has made easy access to prediction markets a reality, WaykiChain is acting as the layer atop the web which will ensure this convenience does not force participants to give up security.

Convenient access meets security.

To get you started, WaykiChain is giving away free WICC!
Are you going to use it to participate in the prediction markets on the platform, hold on to it, or buy some more to participate in the staking?
You decide!

Contest: Celebrating Bitcoin's birthday

WaykiChain is offering an exclusive airdrop to its community. All you have to do is answer what year you joined the Crypto community.

Free 30 WICC for you

WICC is already tradeable and is listed on a number of exchanges; the WICC address from any exchange will work just fine.

You can get the address from Huobi, IDAX,, FCoin, and from many, many other exchanges. Full list:

For the second contest to share 20 STEEM, tell me the story of how you joined Crypto.
I look forward to reading your stories.

Essential Links

Wayki Twitter:

Connect with me:;u=1700741;sa=summary

My Telegram: HatuSSS
My Medium:



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Happy Rewards Hunting!

Winning votes for STEEM pool: people who tell the story of how they joined Crypto.

WaykiChain Contest:
30 WICC for people who comment on this Twitter post the date they joined Crypto.


Looking forward to reading some interesting stories.

Thank you for using steem-bounty. Let us know if the service works well for you. I see you like running contest, if you want we can get in touch to maybe sponsor some. If you are interested we would love to chat. You can get in touch via our telegram channel:

That sounds great!
I'll reach out to your tomorrow.

The Tweet says 20 WICC for 30 people.

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Thank you for pointing that out; I misread it as 30 WICC.
Wish you had pointed it out earlier haha


Earn daily 7-10% of your investment
new crypto reserve exchange
Started by austrailian govt

Anything promising such a return is a scam...

I joined crypto through art. I made a drawing of "The Black Panther" and it went viral on twitter. @greenrun adviced me to get on steemit immediately to share my art here. That was how it started, and it's been a wonderful time here.

That's one of the more interesting stories that I've heard. Haha, never expected art would lead a person to Crypto.

Ikr, lol. Thanks

I’ll double down

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Anything promising so much return seems phising

Augur is already out, let's see how it grows.

I'm glad you know your Crypto well.

As for WaykiChain, its app has about 100k+ users while, I believe, Augur averages about 14 users per day. Prediction markets benefit from a large participation rate and Augur wasn't able to get that.

hello @hatu good the first time I started with a cryptocurrency was steemit, in fact I worked in a company in venezuela that paid only a minimum salary, then a friend told me about steemit and I started writing and then a friend taught me steembounty and It has been very useful, I am very happy for this great page.

Word of mouth is truly powerful.
Be sure to join the Twitter contest for the 30 WICC as-well :)

I joined crypto when I was looking for a topic for my master thesis .
One of the professors at my university was offering a thesis about the usage of blockchain in the finance/accounting departments of companies. It sounded very interesting so I researched about blockchain technology. Of course I heard of Bitcoin before but I didn't know about the technology behind it. After that I decided to write my master thesis about the blockchain and will doing so I started to get involved into crypto. I bought my first Bitcoin and ether and started to get involved in the crypto community.

I've always heard of this person who joined for the technology.
Finally, I've met him/her!

Of course I have to admit the idea of making money with trading crypto was part of the reason. :D

Haha there it is!

I joined crypto sometime in June this year after doing daily research for three months. Before that I was a total novice in crypto. I have now invested in several currencies, including steem.

Always good to prep up.
I still research Crypto almost every day; there's just so much happening here.

My story with crypto currency began with bit coin, then bitcoin was very cheap and newly introduced but lack of trust due to fraudulent activities which is common nowadays make me lose interest and disregard with few years later bitcoin turn real deal but expensive to purchase.
I decided to start with other crypto currency. Then i joined steemit and today as am writing i have registered over 15 crypto currency.
I have commented on the post on twitter
My username is promzy700
I also retweet the post.

You are one of the few who started before the price rush.
Today, fraudulent activity with BTC is on par with those done via fiat; I read an interesting article on this which asserted only about 10% of the volume is from questionable sources of wealth.

I joined crypto because of reading about XRP. I used some airdrops before then to collect some dogecoin and very small amounts of BTC but XRP is what brought me to the dance.

I am still very new to it all but Steem caught my attention next and thus is how I ended up posting here on this site.

This year.

Before then, I used to think cryptocurrency was like gambling. You could lose all your money

My friends were making money on steemit but I ignored them.

Well, I'm broke now so here I am on steemit

Your friends gave a positive direction.

Be a little less broke with the 30 WICC contest.

I thought of it the first time too but over the course of time, I realized it's not gambling but more of an investment and when it comes to investment, time is one factor we should never forget.

Sincerely, I came to the cryptocurrency thanks to my curiosity hahaha I always heard and read news about the BTC so I decided to investigate.

Observed daily and discovered so many cryptocurrencies to finally decide to invest.

A curious mind is a great mind.

I joined crypto early days in 2011, a bit by accident.

Some friends kept talking about bitcoins, and we bought a few, or more than a few. I still have some of my original buys, though one friend had 100's of bitcoins and unluckily threw his hard drive away. :-)

How I joined crypto? Well, when it comes to Steem, it was @heimindanger and DTube: the idea of an IPFS-based, monetarily incentivized video sharing service was spectacular for me. I've been watching Youtube competitors for years and was fascinated by the distributed nature of IPFS as well.

Before Steem, however, it was a slow and steady process: I loved the idea of eliminating gigantic middlemen in very serious markets and services. The sheer scale of independence, as well as the innovation of the emerging techs mesmerized me.

It feels like living the future in present.

About the article: it already did with Ethereum's Augur token. No need for yet another token to create. Only time will tell, though, maybe a token that's easier to use with "physical" currencies may have potential.

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Good to see that you were brought here by the utility of thia tech.

As for WaykiChain, its app has about 100k+ users while, I believe, Augur averages about 14 users per day. Prediction markets benefit from a large participation rate and Augur wasn't able to get that.

Without utility, we'd trade gift cards just as well, that's how I see it. It's our responsibility to show the outsiders that we're not just speculators.

About Augur, you've definitely caught me, I have no excuse for obscurity, nor has Augur - but since the tech seems to be stable and well-established behind it, I'd assume routing people there would be more beneficial.

At least I can hope WaykiChain may collaborate with them.

For Augur to reach scale, Ethereum first has to move onwards to Casper.

I first came to Prediction Markets in connection with the Blockchain after reading about STOX and registering promptly. However, the realization of their idea bored me so much that I don't use it at all anymore. With STOX, there is also the fact that the actual functionality is different from normal betting. It works rather as a kind of database for prediction and remunerates the users according to ranking in monthly tournaments.

In principle, however, I also think that this market segment will become very interesting in combination with decentralized structures. So I'll be surprised how WaykiChain deals with the topic in the long run and whether the project will bring about what you're talking about in your blog.

I joined crypto after hearing about it from friends and did some research into it. I didn't yet own any and I did a pitch to work on a website that buys and sells bitcoin in South Africa. It is called Luno. During my evaluation of the site and its service i bought some BTC and kept watching the price for a month and selling it. I managed to double my money since it was during the bull run of 2017 which was great and ever since then ive been hooked and diving deeper into the space

Steemit actually. I was looking for a social media site that rewarded content. Prior to this I was on Tsu. But then I learned until you make it big you need a coin to make enough money from your work.

Make your coin work for you; passive income from coins is rare but dPoS coins, like STEEM and WICC, are more likely to provide it.

I joined crypto first time when i know about eobot website
@hatu nice writing

A friend joined Forex, I felt interested but I was afraid to enter an unknown world so I took interest in researching.

First I started reading about the BTC but I thought I was the cryptocurrency dad so I decided with Litecoin. And here I am still learning and discovering ...

I'm delighted.

Funny enough, LTC founder sold all his coins.

Be sure to try the 20 WICC contest.

Hi, joined crypto august 2017
i think i first heard Bitcoin around 2013, i remember Mike at Natural News always talking about Bitcoin crashing and imploding or whatever...nevertheless from what i thougth of it it was a great idea, but life made me forget about it.
As i grew more and more aware and sick of the banking system, in 2017 it finally came to mind i should really get into Bitcoin, and that was it, what have i done! can't go back now, i opened the pandora box ahahah :D
So much stuff... love the technology, the disruption, the potential for freedom.
Unfortunately for now on the investment side, i'm down 70% 'cause of the damn bears and my weak trading skills with alt.coins, but i know good times will come. ;)

Good to know you actually came here because of the technology and the underlying principle; good times are to come.

First of all nice thing about WaykiChain. Sounds really interesting.

I got into crypto while reading newspaper. I read about Bitcoin. I asked my father but he did not know anything about it. I grew curious about what is Bitcoin. I live in India where people think if you are in crypto space then you must be a criminal. I wanted a deeper understanding of block chain and Bitcoin and not fall into other's opinions. There was a major problem. I did not know how to enter crypto space either. Then my friend sent me a link to Eobot and I slowly got into crypto space. Now it has been 6 months since I have been in crypto space. Most of my friends think I am doing illegal stuff with bitcoin but only I know that I am deeply studying our brighter future technology. I got into steemit on the suggestion of a YouTuber and now here I am.
I have been following since I have joined steemit. I love your posts. I got fedup because of the ignorance on my posts and stopped steemit for a few weeks but later got in back. Thanks for WICC.

That's an inspirational tale. You truly are gaining knowledge on a cutting age tech.


I have a friend who is really into finding prime numbers using computing power and he stumbled across bitcoin sometime in 2009-10 time frame. Some time around then I went searching for it and found this wonderful world. Someday I hope we can unite humanity towards a moral and equitable future.

Wow, you joined really early.
It must have been quite a ride haha.

@waykichain is the best of its kind I've seen. Projects on Ethereum can easily come across bottlenecks. The block time is also very long and waiting isn't exactly fun. The sidechain function sounds a little like SMTs actually. That's a good thing because it allows a great deal of flexibility and customization and third party DAPP development. It's already on few high volume exchanges too.

Unfortunately I don't use Twitter, I might end up writing about the project. Wish you the best of luck!

Wow, you did your research.
Was Wayki your first coin?

You don't need a Twitter to support this; you can just resteem it ;)

I had a program called BOINC which allows donating spare computational resources on your computer to scientific research projects, like SETI, climate predictions, medicine and many more.

Then I discovered a cryptocurrency designed for rewarding BOINC users, called Gridcoin. It was the first cryptocurrency I used and when I got my first mining rewards I started to trade and participate in giveaways and airdrops for other coins.

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That's blockchain technology's utility at its best.
Efficiency and value-addition.

Sad that the person who brought me in gave up long time ago on the basis of slow growth. He did welcome me in and I never turned him down. I never used to be an avid blogger in either of the available sites but had something deep in myself which till now haven't been released.

So far so good, a promising journey.

Steemit was where I took my first crypto steps during summer of 2016. I heard about this platform layered on top of the Steem blockchain through 2 libertarian YouTubers who started mentionning it at about the same time.

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You must be one of the earliest members of this platform.
Was Banfield one of the YouTubers?

In the first 100,000 (Id 70,105) accounts.
It was before @jerrybanfield (Id 165,685) came to the platform. The YouTubers were @dollarvigilante (Id 42,362) and @joshsigurdson (Id 46,105).

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Nice simple explanation .
But there is one note i wanted to say.
There is a method hackers have managed to make its called the 52% attack ,
Which is taking over the blockchain by having the power of hashing controlled by super huge miners that can make more than 50% of the hashing power of the blockchain , so they can manage the next block as they want , they will inject a block with information that benefit them , in anothet words , they steal other peoples coins , this is a sneaky way for taking over the blockchain, even though it looked impossible before , but now its not impossible any more.

It's called a 51% attack, and it has existed for a long time.
It can easily impact the smaller coins that run on PoW. However, PoS and dPoS, like STEEM and WICC, are safe from 51% attacks as the opportunity to mine is delegated to trusted members of the community.

My beginnings with the cryptocurrencies was with DASH, I remember that I bought a little on a page to buy Dash called Cryptobuyer, something like that. It was one of the few that accepted exchange with my national currency.

Crypto is truly a global phenomenon. Hoping it becomes easier to buy with the non-reserve currencies.

Be sure to try the 30 WICC contest.

I leaned about bitcoin in 2016 at a Students For Liberty event. They were even sharing $10 worth of btc then. But I didn't take it seriously.

I became fully involved early this year when I started steemit.

I'm glad I did. If I joined now, during a bear market, I would have been disillusioned

Haha I think $10 of bitcoin from 2016 could be worth a good bit right now. My story has some similarity to yours.

Oh and don't miss the free Crypto this time ;)
Be sure to grab the 30 WICC contest.

Good to see you helped @waykichain to get an account quickly.
I'm not sure but can imagine the queue is still long when choosing the standard account creation.
Quite a lot of information you shared with us - thanks for that!

Haha yes, it was taking some time so I made one for them :)

The waiting period needs to improve to make sign-ups attractive to new visitors.

A video on YouTube was the reason to involve with cryptos, later i was started to have a big interest about the Blockchains!

Curious to know the name of the channel.

It was a Greek person, at that time he made videos about cryptos (eobot, faucets, etc), and about bitconnect. Naturally after bitconnect incident, he disappeared completely. I was watching videos in YouTube, which had nothing to do with cryptos and in my feed appeared on video with title "the best strategy for making free btc",and that's it.
After that i saw many videos, and made my own research.

Ah I hope you did not invest in Bitconnect.

No i didn't. The whole concept was to flashy to be true for me.

Hopefully @twitter gets a blockchain behind it so people can make money from spending all that time on that site.

Haha I don't see that happening any time soon.

January 2018. Steemit was/is my first contact with cryptocurrency.

I was completing my degree so I didn't have much time to study the crypto thingy.

I still haven't understood it though

Which aspects do you not understand?

I used to invest SOC, I think it is similar to WICC. I will take a look at WICC

@hatu sir, since i always enthusiastic about learning new technologies , when i learned about blockchain is technology behind crypto actually that drived me into crypto world . Moreover i get valuable information following your posts.

Glad that my posts helped you :)

first time invest eobot

That's the second response about it. I really need to dig through this one.

I'm new to this, I started with Steem. I arrived here thanks to a relative who told me and explained what it was, little by little I feel that I have learned a lot.

I have made friends in Discord who have explained other processes, other cryptocurrencies, blocktrades and others.

It is a great family and a wonderful world to continue discovering.

The community interactions truly are great!

I am sure that Cryptocurrencies are the future, good luck and best wishes for the project :)

thanks for sharing that.

Appreciate all resteems!

I see the Contest is in post
How can everyone get a good?
Other the bitcoin.

Interesting! I also found a nice article about car ICO that will bring IoT benefits in real life and revolutionize the car industry.

Hi @hatu I'm a bot, and wanted you to know that I've upvoted and re-steemed your post to help you with your promotion efforts! -exp

Your post for the crypto lovers are really helpful .You are doing a great job.

Thank you!

Is this still available?

hello , interesting post . And it's true I'm always inspired about the many sort of things people place bet's and gamble also the stakes to gain can also be very different depending if you gamble in a casino for lots of chip's somewhere illegal in a dark bar for your watch or money or even in prison for cigarettes.

the rush for adrenaline and the promise for gain is good entertainment and a time killer.

thanx for the post

Awesome 👍👍

I've had got my first Bitcoins back in 2012 as a salary and I was very happy to sold all of 20 BTC of $5 each :)
Later in 2013, when I saw its price rising was very eager to jump on board of crypto mother ship :)

I hear about a few years ago, but really I do not pay attention, last year I start learning more about and investing some money... so now this year my wife and I open this steemit blog.. so I see a real future in the crypto market...

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I started in July 2017. I was looking to buy a computer and the reviews for a particular model said that I could sell the video card to ETH miners and recover about 75% of the purchase price. As I was doing research to create my eBay listing I realized I should give mining a try instead. I started mining ETH and have been hooked on crypto ever since.

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you are great friend, thank you very much

very helpful content

Thank you :)

Nice content, you can check out my blog

My story is pretty sad.
I can to knew about Bitcoin when it was 500 USD I was willing to invest but I was afraid of my elders and also to lose this money. So I just joined faucets and earned some USD but I wasted all in online games. Then I got away from crypto and last year I joined steemit and now I am very positive about making a name in crypto and earning passive income from that.

My story is pretty sad.
I can to knew about Bitcoin when it was 500 USD I was willing to invest but I was afraid of my elders and also to lose this money. So I just joined faucets and earned some USD but I wasted all in online games. Then I got away from crypto and last year I joined steemit and now I am very positive about making a name in crypto and earning passive income from that.

Britain government this year annouces one of Crypto currency official 2 to 3 Crypto currency are on the mark if one is official its boost up rapid

Nice,content thanks.

You're welcome!

This is a great one.I like so much about it.Everyone should try the best on it.

hello, sir, I have a blogger website but I cannot get enough traffic.
If you allowed my comment, I think I get some traffic, my Website Link is

Nice,content thanks.

You're welcome.

Saw this post from SophiaTX about them being a good hodling coin. check this out.

sir great news

genial, esto es interesante!

Glad to hear so!

The blockchain will change the world more than the internet!!

Very interesting @hatu... Blessings

Glad you like it :)


Thank you!
Keep an eye on my profile, I'll be informing the community about more contests soon. I hope to make some of them exclusive to Steemit users.

thanks for the sharing

start joining steemit when i first heard it from bitcointalk. steemit got a great potential, on top of the bounty, the community is rather supportive.

Thank for sharing post @hatu

I remember that Augur REP was the project spelializing on predictions

I joined crypto after a friend introduced me to Silkroad 1.
I think it was 5-10 different tokens back then.
And the first big scam coin was quark back then :)
I started to trade slowly and learned some trading skills.
Lost alot an won alot.
But mostly lost, lost from exit scam and not from my tradings.
How did you enter cryptos?
I started with crypto for drugs and now i only do trading with cryptos.
Dont do drugs anymore :)

Nice article, you should read my article about putting a stable coin as the replacement of Bitcoin(BTC) as value of altcoins.

I joined the crypto like this @hatu
once my brother told me about chain system on bitcoin that was developed by indian crypto.Brother make me joined sending some amount.However very few people joined below us in chain system so my brother & i left it.

Slowly i got interested in bitcoin & begin to earn good.Seeing his success i asked to tell about bitcoin,how to trade,how to get bitcoin address.He taught me all about bitcpin & other crypto.

From that time i also started trading but my brother is npw expert in it.

I would take a look at Scorum that in a month will launch a Betting platform with 0 commissions on a blockchain capable of 10,000t/s

The year is closing soon but can we still wait?

Even though blockchain and crypto have a future, I am still waiting for that day the world would revolutionalize.

I joined Crypto when the very 1st time I heard about Bitcoin.

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