It’s been officially announced that Bodhi (BOT), a prediction market platform, has been deployed on the Qtum mainnet, marking the first decentralized app to go live on the new mainnet.
Currently in its beta phase, Bodhi enables user the ability to take advantage of overall public sentiment to more accurately predict future outcomes of finance, politics, sports and other global events.
The process is as follows: a user creates prediction events in which other users can participate in by betting for or against the proposed outcome. At the events closure, a decentralized judiciary system, named ‘the oracle mechanism’, sets the result and distributes rewards for the parties who predicted correctly.
Users with correct predictions are awarded the original event-tokens decided by interest generated by the submitted event, as well as additional payments that act as incentives. It’s native token, BOT, power all transactions within the Bodhi platform.
Patrick Dai, founder of Qtum, had this to say on its launch:
We’re excited to have Bodhi lead the way by launching the first DApp on Qtum. Bodhi is serverless and runs on blockchain, it’s a real working decentralized application and that’s what this is all about,”
While the Bodhi platform is now live, some countries are currently restricted for use by pending local regulations from individual governments.
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