Prediction markets are a perfect application for a blockchain. World is full of uncertainty and risks that one wants to hedge. Having a way to turn knowledge into money enables information dissemination and helps market discovery.
Aeternity blockchain makes prediction markets incredibly easy and smooth because oracles that provide real world data are embedded directly on the blockchain! So we built the fastest, most accurate prediction market ever.
What it does
Aeye allows anyone with a Aeternity wallet to
- Create a prediction market (e.g. price of x will be more than y at date z)
- Take side in a prediction market (e.g. no price will be lower)
- Resolve and get payout immediately via sophia smart contract.
How we built it
First, we got familiar with building and running oracles on the Aeternity blockchain and spun up a AE/EUR price feed. Afterwards we wrote a sophia smart contract and tested it quickly thanks to Ae Studio and optimized it to cover basic scenarios for a prediction market: create/join/resolve/exit. We followed up with a simple but intuitive web app that allows anyone to easily connect their wallets and interact with the smart contract via simple form/buttons.
Challenges we ran into
There are many guides and documentation for js-sdk contract deployment but it was not as straightforward to call an already deployed contract but we managed to try/fail to make things work!
Accomplishments that we're proud of
We're proud to have a working MVP with all the basic building blocks of a perfectly capable prediction market. Having it running on testnet and seeing users interact with it and give great feedback was very fulfilling. We already have plenty of feedback and interest to keep taking this in the right direction to continue traction.
What we learned
Sophia smart contract language is very straightforward and easy to get started with!
What's next for Aeye Prediction Market
There are currently some limitations because we wanted to have a working product by the hackathon deadline. Next steps will be better automatic oracle integration, more complex predictions and many UX improvements.