ICON Decentralized Applications
Bodhi is a decentralized prediction market platform initially focusing on the Chinese market. Initially built on the Qtum blockchain but with a plan to expand to support the Ethereum and ICON blockchain, Bodhi allows users to create and trade on the outcome of finance, sports, politics, and any other publicly verifiable events. Bodhi’s mission is to build a credible, autonomous, and scalable predication market platform to enhance the effectiveness of the decision-making process.
With the deluge of the continuous development of blockchain technologies, there is an increasing trust within communities on enabling public blockchain as Oracle that is fair and descentralized. Blockchain technology is a perfect candidate to form the building block of prediction market due to its characteristics such as information transparency and data immutability. The fairness of blockchain makes the prediction market run at low-to-no administrative cost. The application of Smart Contract empowers blockchain with a programmable and dynamic decision-making capability. All of the above emerging phenomenon resulted in the creation of decentralized prediction market. Bodhi's mission is to build a credible, autonomous, and scalable decentralized prediction market that promotes the application of prediction market at a global scale to enhance the effectiveness of decision-making process.
Bodhi prediction market is a market where individuals and groups can predict outcomes of events and receive rewards if their prediction are correct. The platform allows users to predict on the platform, the Oracle will be used to reward the winning predictions after the vent. At a basic level, predictions could be worth more coin. Bodhi uses third-party Oracle to automatically judge prediction results to guarantee the effeciency of the decision-making process. BOT holders can take over the voting process and make the final decision for a prediction event if Oracle fails. The Bodhi market is much more like the blockchain marketplaces, it is designed to minimize the cost of predicting and is free to access. There is no centralized system in place on the plaform which means only the oracles serves as the judges on the platform.