The open source and verifiable nature of blockchain platforms make them highly attractive to developers attempting to disrupt industries that rely heavily on trusted third parties. The online gaming and casino industry is one place in particular in which blockchain technology is being deployed rapidly.
A new blockchain based platform is aiming to target the prediction market by developing a smart contract based smart betting solution. BlitzPredict is intended to address the issues present in the current prediction market such as traditional sportsbooks, which function as centralized authorities.
In the current paradigm, users are unable to deploy capital that is tied up in a contract, which ultimately inhibits the growth of users’ bankroll. Analyzing multiple sportsbooks can also be a time consuming process, ultimately making the sports analytics sector a fragmented and unwieldy system.
BlitzPredict plans to provide users with the best available odds at any given point by using a highly intelligent aggregator. In this article, we’ll take a look at BlitzPredict and find out what it does, as well as examining the specifics of the upcoming BlitzPredict initial coin offering to help you determine whether it’s worth investing in.
What Is BlitzPredict?
BlitzPredict is a smart contract based prediction platform, and offers a range of features that can’t be found in any of the current systems. Users are provided with the best odds available at all times via the BlitzPredict aggregator, and are able to access payouts immediately at the conclusion of any event using the BlitzPredict liquidity reserve.
Bets placed on the BlitzPredict system are executed via smart contracts, which makes it possible to perform a wide range of criteria-specific wagers. Interestingly, BlitzPredict also plans to make it possible for users to provide analytics insights and models to the BlitzPredict community and be rewarded for their efforts.
The BlitzPredict platform will also sponsor analytics tournaments in which analytics experts and enthusiasts will be rewarded for delivering the most accurate results. Syndicates are also able to access the BlitzPredict platform and solicit specific contributions from the BlitzPredict community. Users of the BlitzPredict platform will be able to stake the syndicate using BPZ, the native utility token of the BlitzPredict ecosystem.
The BlitzPredict ICO
In order to generate the capital necessary for the launch of their platform, the creators of BlitzPredict are running an initial coin offering that will make BPZ available to early investors. During the ICO, which launches at the end of January 2018, 1 billion BPZ will be generated.
The BlitzPredict token sale has a hard cap of $6 million USD. 300 million tokens will be available for purchase during the ICO, with an additional 50 million available during the seed round. 48% of the total BlitzPredict tokens will be reserved by BlitzPredict, while 9% will be reserved for “future hires”.
BlitzPredict ICO Conclusion
BlitzPredict is being developed by a highly experienced team, and is supported by a strong team of advisors. While the concept of applying blockchain technology to the prediction market is nothing new, the BlitzPredict platform has a tight focus and, if successful, would significantly disrupt the sector.