Built on the Qtum blockchain, Bodhi is a prediction marketplace where participants can sell and buy predictions. The aims of Bodhi prediction market is to integrate third-party oracles and voting-based oracles to the platform. The Qtum blockchain is used because it combines bitcoin Core infrastructure with the Ethereum Virtual Machine to provide modularity, stability, and interoperability for DApps builds on the platform. Bodhi uses the Qtum blockchain with an aim of becoming one of the easiest and largest dApps running on Qtum.
How does Bodhi work?
Bodhi prediction market it 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. By 2018 the one prediction could be worth over $5,000. The platform is similar to Augur and Gnosis. Both allow for Oracle-based predictions.
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 platform which means only the oracles serves as the judges on the platform.
The Bodhi ecosystem has the BOT token as its fuel. The BOT token will be issued during the crowdsale, a total of 100 million BOTs will be available. The BOT token has two main features, they include:
Voting and rewards
BOT holders can vote for arbitration results of the disputed prediction events and receive rewards. The systems require users to lock their tokens.
Arbitration and compensation
Holders of the Bot token are entitled to initiate arbitration for disputed results of prediction and receive compensation. Before initiating the arbitration, a token holder must first lock an amount of BOT as a deposit.
Bodhi use cases
- Insurance predictions: Bodhi is a decentralized solution for the traditional insurance industry that has a long and complex claim process. People can bet be offering a market for insurance.
- Finance predictions: users can use the Bodhi prediction market and launch a prediction. The prediction results are calculated by the entire network for accuracy and efficiency.
- Information predictions: Bodhi uses the information prediction to decide many things like who will be the FIFA president among other things.
- Sports prediction: sports prediction is a huge industry and Bodhi facilitate sports betting.
Bodhi is led by Xiahong Lin (founder and Project Lead), Frank Hu (Tech Lead) and Deric Walintukan (Smart Contract Developer).