Delphi: The Post-Gnosis Prediction Market Platform

Prediction markets are platforms that offer participants the capability to create, manage and exchange financial shares in events or outcomes. These are systems that allow making and receiving of compensation if predictions or bets are correct. Bets can be on politics, prices of gold, final scores of sports matches and forecasts on company IPO prices. The current prediction market platforms have numerous significant shortcomings that come from the approaches taken by the designers of the protocol.

It is this design flaws that inspired the design and building of Delphi. Delphi addresses that biggest economic and technical risks of the previous frameworks hence representing the next step in prediction markets evolution. Delphi is built upon the foundation of its predecessors. The design team maintains backward-compatibility with the previous Gnosis platform including the data- structure compliance.

Based on a stack-based platform, Delphi has multiples layers defined to make the platform an easily extensible and robust as possible. The stack is founded on the Ethereum block chain but has better ease-of-use with its interlayer integration. The platform has three layers that help it achieve its efficiency.

The Delphi core

This layer is tasked with providing the foundational contracts for settlement, Oracle, event token creation, a market mechanism, and management interface. It is also open and free to use It is near zero marginal cost to create new market and fees has to approach zero to remain competitive.

The Delphi suite

This layer was developed to make interaction with the Delphi core frictionless and smooth. The Delphi suite helps achieve the user-friendly platform flexibility that the team wants by providing the APIS and tools that make widespread adoption of the platform possible.

The Delphi ecosystem

This layer comprises of different tools and applications that interact with other Delphi lower layers. It contains:
• Recreational gambling services and modernized insurance services
• Market-analytical consultancy and advertising services based on predictive insights
• Decentralized governance models for crypto economic systems and society as a whole
• Fund management providers
• A fully-functioning market High levels of internal competition will be exhibited in this layer since it will be built and maintained by the community.

Due to the pitfalls and complexity that rocked the Gnosis ICO, Delphi will issue 95% of existing Del to achieve even distribution and fairness of tokens. This ICO will help avoid economic vulnerabilities that Gnosis is facing. This ICO will also incentivize the market and also encourage a much wider distribution of the tokens.

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