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PlotX

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PlotX Whitepaper

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AscendEXPLOT/USDT0.010000cex17/3/2025, 3:15 PM
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PlotX FAQ

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What is PlotX? PlotX is a decentralized prediction market protocol that enables users to engage in prediction markets without a centralized authority. It is designed to facilitate the creation of automated prediction markets and utilizes blockchain technology to ensure security and transparency. Users can predict various outcomes on global events, markets, or trends and potentially earn rewards. For the latest information on PlotX, consult Eulerpool.

PlotX is a non-custodial prediction market protocol crafted to provide an engaging platform for users interested in participating in prediction markets, specifically focusing on cryptocurrency pairs. Operating on the Ethereum blockchain, it guarantees a decentralized framework where users can predict the future values of popular cryptocurrencies like BTC, ETH, and others. Markets are auto-generated at regular intervals, such as 1 hour, 1 day, and 1 week, offering a vibrant and ongoing trading environment. The platform utilizes an Automated Market Making (AMM) algorithm, akin to functionalities present in decentralized exchanges, to streamline the creation, settlement of markets, and distribution of rewards efficiently and transparently without needing a counterparty. This innovative methodology delivers a seamless prediction experience, allowing users to earn rewards based on the accuracy of their forecasts. Beyond its focus on crypto-pair predictions, PlotX has broadened its offerings to include contests and challenges that extend beyond the cryptocurrency sphere, incorporating elements related to sports. Although it maintains a distinct stance of non-affiliation with any private or government sports leagues or teams, it offers a variety of time-limited contests and challenges, governed by specific eligibility criteria and subject to modification or revocation at any time. PlotX promotes user governance through its integration with GovBlocks, an on-chain governance protocol, enabling the community to participate in the platform's development and operational decisions. This feature highlights PlotX's dedication to cultivating a user-centric prediction market ecosystem. Accessibility stands as a cornerstone of PlotX's strategy, with the platform accessible both as a web app and on mobile devices via Google Play, facilitating convenient user engagement in prediction markets. As with any platform within the cryptocurrency realm, it is imperative for potential users to conduct comprehensive research and understand the risks associated with prediction markets before engaging.

How is PlotX secured?

PlotX employs a comprehensive approach to security, ensuring the protection and integrity of its prediction market protocol. At the foundation of PlotX's security measures are advanced systems designed to shield the platform and its users from potential threats. These systems undergo regular updates to address emerging vulnerabilities, reflecting a proactive approach to cybersecurity. Beyond technical defenses, PlotX stresses the significance of secure storage practices for its users. As a non-custodial platform, it places the responsibility for cryptocurrency wallet management squarely on the users. Thus, users are encouraged to choose wallets with strong security features to avert unauthorized access to their assets. The platform's dedication to security also encompasses its privacy practices. PlotX has delineated specific data protection measures within its privacy policy, aimed at securing user information. These measures include protocols for managing and protecting personal data, ensuring that user privacy is both respected and preserved. PlotX's implementation of an Automated Market Making (AMM) algorithm and on-chain governance further bolsters its security structure. The AMM algorithm supports the creation, settlement, and distribution of rewards in prediction markets without the need for counter-party risk. Concurrently, on-chain governance, facilitated by GovBlocks, enables decentralized decision-making, mitigating the risks associated with centralized points of failure. By integrating advanced security technologies, rigorous privacy protocols, and decentralized governance, PlotX offers a secure environment for users to engage in high-yield prediction markets on crypto pairs. Users are advised to conduct their own research and adopt secure wallet practices to further enhance their protection while utilizing the platform. For additional insights, visit Eulerpool.

What are the potential applications of PlotX?

PlotX is a multifaceted platform in the cryptocurrency sector, designed to facilitate user participation in prediction-based contests and challenges. It utilizes an Automated Market Making algorithm to streamline the creation, settlement, and reward distribution of prediction markets without requiring a counter-party. This innovative method provides a seamless and risk-free environment for user engagement. The platform primarily features markets focused on cryptocurrency pairs such as BTC/ETH/YFI, offering a wide array of options for users to make predictions. These markets are generated at regular intervals, including 1 hour, 1 day, and 1 week, providing ample opportunities for engagement. Users have the chance to earn cryptocurrency rewards based on their expertise and skill in forecasting market trends. PlotX is distinguished by its non-custodial prediction market protocol, which allows users to maintain full control over their funds without the need for intermediaries. This feature is vital for fostering trust and security within the ecosystem. Another distinctive element of PlotX is its implementation of on-chain governance, supported by GovBlocks. This facilitates a decentralized and democratic decision-making process, empowering users to have a role in the platform's development and future trajectory. In summary, PlotX provides a dynamic and engaging platform for cryptocurrency enthusiasts and traders. Through its offerings, including fantasy trivia games, prediction market platforms, and time-weighted prediction markets, users are presented with a rich and diverse set of tools to enhance their trading strategies and potentially earn rewards. As with all activities related to cryptocurrencies, users are encouraged to conduct thorough research and consider the associated risks before participating.

What significant events have occurred for PlotX?

PlotX has made a significant impact in the prediction market arena through several key developments aimed at enhancing user engagement and expanding its capabilities. Notably, the introduction of Player versus Player (PvP) battles represents a major update. This feature enables users to compete directly with one another, adding excitement and competition to the prediction process. In addition to enriching the user experience, PlotX has integrated a social platform accompanied by an accuracy score system. This integration not only cultivates a sense of community among users but also offers a transparent metric for assessing and rewarding users' prediction skills. Such features are crucial in building trust and promoting active participation within the ecosystem. Furthermore, the incorporation of sponsorship options is a notable development. This initiative introduces new opportunities for collaboration and support within the platform, potentially attracting a broader audience and increasing overall engagement in the prediction markets. Looking forward, PlotX is poised to undergo a significant transformation into PlotXDAO in 2024. This transition highlights a strategic shift towards decentralized governance, facilitating a more community-driven approach to decision-making and platform development. The establishment of governance mechanisms will empower users by giving them a stake in the platform's direction and policies. These developments reflect PlotX's dedication to innovation and community engagement. By continually evolving and adapting to user needs, PlotX aims to strengthen its position in the prediction market sector. As always, individuals interested in participating in prediction markets or any form of cryptocurrency investment should conduct thorough research to understand the associated risks and opportunities. For further information, PlotX can be reviewed on Eulerpool.

Investors interested in PlotX are also interested in these Cryptos

This list presents a carefully selected selection of Cryptos that might be of interest to investors. We have our own crypto analyses for all listed Cryptos on Eulerpool.

Beginnings and the Rise of Cryptocurrencies

The history of cryptocurrencies began in 2008 when an individual or group using the pseudonym Satoshi Nakamoto published the whitepaper "Bitcoin: A Peer-to-Peer Electronic Cash System." This document laid the foundation for the first cryptocurrency, Bitcoin. Bitcoin utilized a decentralized technology known as blockchain to enable transactions without the need for a central authority.

In January 2009, the Bitcoin network commenced with the mining of the Genesis Block. Initially, Bitcoin was more of an experimental project for a small group of enthusiasts. The first known commercial purchase using Bitcoins occurred in 2010, when someone spent 10,000 Bitcoins on two pizzas. At that time, the value of one Bitcoin was just fractions of a cent.

The development of other cryptocurrencies

Following the success of Bitcoin, other cryptocurrencies soon emerged. These new digital currencies, often referred to as "Altcoins," sought to use and improve blockchain technology in various ways. Some of the most well-known early Altcoins include Litecoin (LTC), Ripple (XRP), and Ethereum (ETH). Ethereum, founded by Vitalik Buterin, was particularly distinct from Bitcoin, as it enabled the creation of smart contracts and decentralized applications (DApps).

Market Growth and Volatility

The cryptocurrency market grew rapidly, and with it public attention. The value of Bitcoin and other cryptocurrencies experienced extreme fluctuations. Highlights such as the end of 2017, when the Bitcoin price nearly reached 20,000 US dollars, alternated with sharp market crashes. This volatility attracted both investors and speculators.

Regulatory Challenges and Acceptance

As the popularity of cryptocurrencies rose, governments around the world began to grapple with the regulation of this new asset class. Some countries adopted a friendly stance and encouraged the development of crypto technologies, while others introduced strict regulations or outright banned cryptocurrencies. Despite these challenges, the acceptance of cryptocurrencies in the mainstream has steadily increased, with companies and financial institutions starting to adopt them.

Recent Developments and the Future

In recent years, developments such as DeFi (Decentralized Finance) and NFTs (Non-Fungible Tokens) have broadened the range of possibilities offered by blockchain technology. DeFi enables complex financial transactions without traditional financial institutions, while NFTs allow for the tokenization of artwork and other unique items.

The future of cryptocurrencies remains exciting and uncertain. Questions about scalability, regulation, and market penetration remain open. Nevertheless, interest in cryptocurrencies and the underlying blockchain technology is stronger than ever, and their role in the global economy is expected to continue growing.

Advantages of Investing in Cryptocurrencies

1. High Return Potential

Cryptocurrencies are known for their high potential returns. Investors who got in early on projects like Bitcoin or Ethereum have made substantial gains. This high return makes cryptocurrencies an attractive investment opportunity for risk-seeking investors.

2. Independence from Traditional Financial Systems

Cryptocurrencies offer an alternative to the traditional financial system. They are not bound to the policies of a central bank, making them an attractive hedge against inflation and economic instability.

3. Innovation and Technological Development

Investing in cryptocurrencies also means investing in new technologies. Blockchain, the technology behind many cryptocurrencies, has the potential to revolutionize numerous industries, from financial services to supply chain management.

4. Liquidity

Cryptocurrency markets operate around the clock, which means high liquidity. Investors can buy and sell their assets at any time, which is a clear advantage compared to traditional markets that are tied to opening hours.

Disadvantages of Investing in Cryptocurrencies

1. High Volatility

Cryptocurrencies are known for their extreme volatility. The value of cryptocurrencies can rise or fall quickly and unpredictably, posing a high risk to investors.

2. Regulatory Uncertainty

The regulatory landscape for cryptocurrencies is still emerging and varies greatly from country to country. This uncertainty can lead to risks, especially when new laws and regulations are introduced.

3. Security Risks

While blockchain technology is considered very secure, there are risks associated with the storage and exchange of cryptocurrencies. Hacks and fraud are not uncommon in the crypto world, which requires additional precautions.

4. Lack of Understanding and Acceptance

Many people do not fully understand cryptocurrencies and the underlying technology. This lack of understanding can lead to misguided investments. Additionally, the acceptance of cryptocurrencies as a means of payment is still limited.