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Prediction markets are one of the most interesting platforms that have become associated with blockchain technology. However, they are not without fault, with some even having to deal with intrigues and lawsuits. To start, many prediction markets suffer from having bad user experience (UX) and sluggish payouts. On top of this, some that cater to more general subjects suffer from having unquantifiable and arbitrary results.
This is where something like Bispex would come into play, a platform that focuses on the ever-changing prices of cryptocurrency. They pull their prices from different cryptocurrency exchanges and other spaces that list digital asset prices. The goal here is to pull full from a variety of spaces to ensure that no predictions are subject to market manipulation.
While many prediction markets exist on the market, this is one of the only ones that focuses more on cryptocurrencies than other financial vehicles. Users on the Bispex platform will be able to assist one another via trading advice, and the more users participating, the more observers can see which currencies are likely to perform well, and which aren’t looking so good.
The Bispex platform is also developing its own token, which hopes to be listed on multiple exchanges in November.
In a statement, CEO of the company, Ashish Babar, commented on his new platform:
“We’re the new contenders [in the prediction market sector], but we’ll make sure to be at the top. An accurate prediction market with fast asset liquidation — you can bet on it with Bispex.”