Steemit Crypto Academy, Season 3: Week 8 || Predictive Markets with blockchain technology, Homework post for Professor @pelon53

Thank God for bringing us to the last week of this season, I am excited and I hope you are too. I will be going straight to the homework post, feel free to drop a comment below

1- Create 5 questions that can be used in the Predictive Market. And explain what 2 of them consist of. Be creative and explain in detail.

The lesson explains the concept of Predictive markets including several platforms that offer predictive questions like Polymarket. Augur, Gnosis.
Before I move into details of my work , I would wish to give my concise definition of Predictive markets. Predictive Markets, could be defined as trading platforms initiated for the purpose of utilizing the results of events /happenings to make profits. Here we see that the participants of these speculative markets, trade agreements based on their opinion of future events.

So five questions that I think can be used in the predictive Markets include :

• Will Ripple (XRP) get to $10 in 16 months ?
• Will Arsenal Football Club get to win the Champions league in ten years?
• Would a black man ever become the president of the United States again?
• Would the Taliban group loose grip of Afghanistan?
• Will 1 Bitcoin ever make its holders millionaires in dollars in this decade?

I'll be explaining the first question "Will Ripple can ever get to $10 in 16 months?"

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This question would be one very competitive and explicit question that would be utmostly unpredictable, mainly because the Ripple coin has had series of financial setbacks which should result to stagnancy but keeps thriving and the same verge of thriving it keeps experiences volatile falls which places it very unpredictable to market predictors.
Now it's at $1.3 at the rational mind would see it impossible to attain the $10 mark in 16 months from now while the YES risk takers can see a possible volatility keeping it at that bench mark
Now if I was a prediction platform I would have considered placing this contract to be predicted on wirh about 15-100 dollars and at the end of the two 16 months , if Ripple gets to $10 the YES predictors gain 5 times their investments and if it doesn't they lose their entire invested funds and vise versa wirh the No predictors

The second and final question I'll be talking on is :
Will arsenal get to win the Champions league in ten years :?

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Now this question is a risky question as football remains one of the most unpredictable aspects of entertainment in the world. Arsenal is renowned to be left out in qualification of the Champions league in the last 4 years and this year even and so is almost an impossible feat to win the trophy
This season has recorded the purchase of young players in the club and though the start isn't good, there could be light at the end of the tunnel for them.
All these explanations, leave an average mind, clueless of what exactly to say about the statement and makes a very good prediction question.
Just like worldwide betting sites, this one could be done with participants contracting with amounts from 10-1000 $ and on the club, winning the club, those who opted for the yes option, take home 8times their amounts
and those who opted for no, lose their entire funds

2. Explore Polymarket, answer and explain the first 2 questions in the Crypto category. Show screenshot.

Here I'm going to explore the Poly market and answer the first two questions on the Crypto category.

• On getting to the Poly market platform, I went for the category part, and to crypto.
  The first question, was if Cardano was going to support smart contracts on the main net by October 1. And my answer, is No :
  The reason for my answer being that irrespective of the fact that Cardano seeks to take over dominance in the crypto world through smart contracts but this would take more time as it requires heavy technical works on the blockchain and would not be ready before October 1 2021

• The second question here asks what the diluted market cap of the super rare taken would be after one week of trading and I went for the fact that it would more than $1.23b since this token at the moment, trades at a quite encouraging market that is close to the amount I stated for and is realizable

3. Explain in detail a Predictive Market project, it cannot be Augur, Gnosis or those explained in class.

The prediction market project I'm going to be discussing here is the PlotX.

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The PlotX is popularly called the Uniswap of Predictive platforms. It is seen as a foretelling protocol that allows its users to get interest on heavy gain prediction markets.

This PlotX makes use of consensus products governance on its blockchain and is supported by the Governance blocks
We should also know that this project is decentralized and in a bid to eliminate intermediaries interference in its activities makes use of the AMMA ( Automated Market Making Algorithm in the creation, settling and sharing of the gotten interests on its blockchain (Note it uses the Ethereum blockchain).
This project, seeks to move to the second stage of its management soon and make it's activities better and more complex.

The PlotX works by presenting avenues to its users to get rewards periodically after their successful prediction of the price of well known crypto currencies

PlotX provides a very vast number of benefits to its users and they include :
*Their rewards for correct predictions are very sure : When users successfully predict prices on the contracts, the PlotX platform do not fail to deliver their interests immediately and are always sure to do so.

• The platform offers various currencies used to place trades : This project, uses USDT, DAI, PLOT etc and makes trading easy for people instead of beginning to convert currencies by themselves
• The platform, moreso has a very secure background and has no malicious history including great smart contract too that make trading easier.

The steps invoked in predicting in the PlotX market is as follows

• Make the choice of the pair you wish to predict on for example, will a Ripple coin be up or below by September 1st
• The market offers three choices of trading mostly, it being up, down or just stable and so we make choices of what we want
• When we are done with our choices, we select our trading currency, and click the amount we want for the transaction and and make the transaction and wait
• When the prediction time, ends we move and collect our rewards or watch the loss incurred in the prediction

4. For you, what will happen to Predictive Markets with blockchain technology? Who will benefit from them?

With the blockchain technology, predictive Markets, would thrive better and traders of cryptoassets and everyone generally would enjoy it better.
Firstly predictive Markets are based on proper understanding and knowledge of the markets and so if a trader can create right conclusion of the market movement based on his analysis (fundamental /technical), he would do better in predictive Markets.

Secondly we know that these predictive markets don't just deal with crypto markets and topics, they also cover other aspects like politics and and sports which would create a huge source of income for anyone with understand and predicts correctly in the markets.

CONCLUSION

To conclude, traders who correctly predict future outcomes, make profits based and those whose predictions fail, incur losses as there is always a stake for the predictions
Predictive market with block chain technology is an important knowledge every trader needs

Best regards
@pelon53