As is the case with most currencies, to truly understand a coin one must first know where it is used - and what purpose it holds.
What is $STX?
$STX is an Ethereum based platform which makes use of the Bancor protocol. It is intended to be used for forecasting the financial markets. The users of Stox vote on the possible output events and later trade on the possible scenarios.
$STX basically aims at making prediction markets decentralized.
So, what is $STX?
The Stox platform is decentralized in nature, which means anyone can create and publish events.
Users on the platform create customized smart contracts and post them on the blockchain. Every user defines certain parameters in the smart contracts to create an event.
The parameters are:
- Formal description
- List of potential outcomes
- Participation Fee
- Market Maker Reserve
How is $STX used?
The Stox ecosystem is used to predict outcomes in a variety of fields such as politics, outcomes of sports games, tournaments and cryptocurrency prices. As a user, you can choose the field of your choice and the amount of STX tokens you want to invest.
How is $STX different from other cryptocurrencies?
$STX is different from other cryptocurrencies in various ways.
- More secure and risk-free: A user invests some $STX tokens when he/she participates in the prediction process for future outcomes. The best part about this is that the platform is completely risk-free and users never lose any $STX tokens.
- Earn cryptos real time: With every accurate prediction, users get to earn new crypto coins with real time market price predictions.
- Dedicated Mobile App: Stox has a dedicated mobile app and the underlying technology has the adoption problem solved right from the start.
A Bright future: $STX
This integration of blockchain technology in prediction markets has gathered momentum right at the outset and is gaining popularity. With increased popularity, the token price, as well as the market capitalization, will increase.
It would be interesting to see $STX grow and become one of the top cryptocurrencies in the world in terms of market capitalization.