On October 7th, the team supporting BNB Chain began a public call for cryptocurrency ecosystem developers to build a new forecast market on their network.
As mentioned in detail, the industry is in a global expansion phase and needs infrastructure “Fast, fluid, and expandable quickly”.
The forecast market is Allow users to bet on the outcome of future eventsreflects the probability of their occurrence through the price of the contract.
The most well-known today is Polymarket, which is popular for its predictions, particularly about elections, politics, economic issues.
As BNB chain explained in its September 15th statement, forecast markets are no longer “niche experiments” but are becoming the fundamental layer of finance, media and governance.
They say these platforms need to operate to maintain this growth and expand it to cryptocurrency networks. On the right infrastructure.
In that sense, they emphasize that the chain created by the Binance Exchange offers:
- Fast and low cost.
- Global reach and permissionless.
The BNB chain team is committed to making progress in attracting developers in this space, looking ahead to the next six to 12 months.
These include more robust resolution systems (based on managed Oracle or Dispute Councils), improved liquidity stability across different types of markets, more fluid user experiences with commission-free transactions and statutory gateways, and more sophisticated products such as index and opportunity markets.
Finally, they also compared the differences between traditional forecast markets and forecast markets that can be deployed with “blockchain technology.”
In the latter case, the smart contract guarantees: Free market creation and transparent payments. Users can participate anonymously without an identity verification process, and payment structures that include tokens, synthetic assets, or staking mechanisms are more flexible.
Blockchain Blockchain.
