AltcoinsBitcoin.comDeFifuture of blockchainKusamaParachainsPolkadotPrediction Markets

Zeitgeist Brings a Prediction Markets Ecosystem to Polkadot’s Kusama

To capitalize on the growing popularity of blockchain trends like decentralized finance (defi), Zeitgeist will be rolling out a new native prediction platform for Polkadot to expand the scope of opportunities available for retail crypto investors.
New Network to Build on Substrate and Launch Exclusively on Kusama
Long before Satoshi Nakamoto unveiled the Bitcoin whitepaper that led to a flood of blockchain innovation, prediction markets were available in the form of organized betting, often on political outcomes. For centuries these markets existed, helping corral crowd-based wisdom in the form of betting odds, which remain popular to this day.
The blockchain iteration of these prediction markets promotes the same idea: determining the probability of informational outcomes based on speculation. Unlike cryptocurrency trading, these markets are binary, meaning either a positive or negative outcome results from a contract between two parties.
Predictions made using these systems are considered relatively accurate, either matching or outpacing alternative results from focus groups, experts, and opinion polls. As prediction markets intersect with the latest defi craze, one company is probing new uses for blockchain’s architecture in another significant expansion of decentralized finance’s horizons.
Zeitgeist, a startup that recently exited stealth mode, is pioneering a new base layer blockchain prediction market based on Substrate, the development framework pioneered by Polkadot.

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