Stakeo is a smart peer-to-peer gambling platform that utilizes distributed ledger technology to create a secure, decentralized, and automated experience. Here, individuals can speculate on the outcomes of future events; correct predictions of the outcome of an event win while the stakes on incorrect predictions are lost. The price of a prediction market can serve as a precise and well-calibrated indicator of how likely an event is to occur.
Through Stakeo, users will have the ability to create a market based on any real-world event or join an existing market for an event. Trading begins immediately after market creation using STK tokens. On the Stakeo ecosystem, all users are free to create and trade on any market which has specific measurable outcome.
The online gambling industry gained popularity in the late 90s; internet gambling websites had increased from just 15 websites in 1996, to 200 websites in 1997 with revenues had exceeded $830 million in 1998 alone. This development was followed with the introduction of the first poker rooms. The most important statistics for gamblers today is the value of the industry as a whole. Split into two main verticals, live and online, the gambling world has experienced impressive growth over the last five years.
Traditionally, prediction markets have been centralized. The regular way to cumulate transactions in a prediction market is for a dependable entity to maintain a register. Equally, the easiest way to determine the outcome of an event and distribute pay-outs to traders is for a neutral and trusted umpire to determine the result of the markets. However, centralized prediction markets are plagued of risks and short comings including:
- Lack of transparency and existence of unfair betting conditions.
- Do not allow global participation.
- They limit what types of markets can be created or how much can be traded.
- They require traders to trust the market operator to not steal funds and to resolve markets correctly.
Stakeo is developing an end to end wagering eco-system by shifting power away from the centralized betting market providers and book makers into the hands players community. We are bulding a unified gambling world on the blockchain with a complete eco-system for casual and regular bettors. This will finally become a crtitical solution for all kinds of real life betting activities to enable p2p betting, speedy transactions and over-all cost reduction; through the provision of an integrated gambling gateway module, a secured transaction environment and real time data processing using STK token, our puposefully desigend ERC20-Token.
- Closed Market
- Staking Limits
- Hidden Charges
- Location induced account restriction
- The house always wins
- Odds Manipulation
Basically, market creation involves creating a complete set of tradable bonds. Every STK holder can create a set of bonds for any real-life event by correctly completing our user friendly market creation template. This involves pegging financial rewards to the probability of occurrence of an event and providing a specific API end point as the market resolution source. Once this template is completed and submitted, it is automatically deployed on the blockchain, making available for community members to view and participate.
Stakeo levies settlement fee which is 3% of a total set of bonds only when market participants are settling with the market contract. The market settlement fee is directly proportional to the amount being paid out and is paid to the market upon settlement. Invalid markets are settled as invalid in a market contract, while the shares are returned to market participants of the set of bonds after deducting the market settlement fees in their STK equivalent.
Protocol and Platform
The Stakeo platform is a complete solution with payments, security, and databases independently implemented blockchain to power a unique ecosystem which connects real life events to players, peers, market formulators and developers in real time. The protocol is being built to effortlessly support a near-limitless number of trusted, transparent, serverfree, and decentralized gambling; at the same time providing exciting features with unique and friendly experience for all its users.
The STK local mobile application will be purposefully designed to be user friendly for Android and iOS. The app will have a unique, effective and all in one UI to track all betting activities including market creation, market categories, market results, as well as market invites for private betting markets. New features will constantly be developed based on user queries and demands.
As transactions on the blockchain cannot be altered, so does created markets.
The P2P nature of Stakeo platform eliminates the need for a centralized bookmaker.
Every activity on the blockchain is permanently stored on the blockchain.
Transparency and Anonymity
Public blockchains can offer full transparency of all transactions on the network while maintaining the privacy of all its users via a pseudonym process.
Secure and Speedy Process
With the help of encryption through cryptography, no one other than the sender and the recipient can access data sent across the blockchain.
Roy Amatyakul, CEO
Farid Angchuan, PRODUCT DEVELOPMENT MANAGER
Chan Kunthong, MARKETING EXECUTIVE
Napatthorn Tangjit, BLOCKCHAIN DEVELOPER
Quote This article is writing on 22 December 2019 based on information available online & news portal. If you feel it’s outdated or incorrect, please write here to update it. Mail us: firstname.lastname@example.org Or Whatsapp Us- +13098896258
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