The Tron ecosystem has been one of the most active groups in the entire cryptocurrency industry, and most of it is due to the rapid development and expansion of dApps. The families of various dApps form the base for a fledging industry in the throes of a massive breakout.
TronPredict is one of the few decentralized applications currently available that marries usability to a sustainable trade market. The application is used to predict price movements of cryptocurrencies such as Tron and to earn rewards for stalking their closing prices. Tron’s popularity and market needs make TronPredict a great fit for the current crop of traders.
According to TronPredict, users need to be their own master while trading cryptocurrencies. This allows them to create a trading world for themselves, thereby spreading the world and bringing in more people to the TronPredict roster. The predictions conducted by TronPredict are made using weekly and daily cycles which provides a much more real comparison base for prices. TronPredict is hosted on Tron’s native peer-to-peer InterPlanetary File System [IPFS] while the smart contract works on the Tron Network blockchain.
The dApp works by integrating the user’s browser, the IPFS, and the Tron network at the same time. TronPredict’s technology structure is a key element that brings the entire trading system together. Trading on TronPredict works by pooling all the stakes together into a staking pool which in turn is controlled by a smart contract. The TronPredit website states:
“When the closing price for a crypto asset is determined (by an oracle) for the chosen point in time, the smart contract determines correct and incorrect predictions and rewards users (with TRX) who made correct predictions, from the staking pool. The value of the reward is determined by the amount of TRX in the staking pool of incorrect predictions for a specific asset.”
The system first records the opening price of the cryptocurrency asset and then measures the closing price to formulate the optimal trading sequence. Each cycle has its own closing date and time to be followed by a dot. All users have to make a prediction by entering the stake amount and selecting one of the prediction offers provided. Multi-factor authentication is used to confirm the process with the user first having to say yes on the app as well as on the TronLink wallet.
Rewards play an important role in the trading ecosystem with a lot of users being drawn to the characteristic. Tron Predict says:
“ Each percentage reward for a user is calculated based on the total value of TRX in the stake pool of incorrect predictions for a specific asset against the total value of TRX in the stake pool of correct predictions.”
Once a user claims their rewards, then it can be withdrawn from the smart contract. Users also need to understand that the final payout is the sum of the initial stake and the latest reward.
TronPredict assured its users that a fair trading ecosystem was the best way to take the world of virtual assets into the mainstream realm. To create a more diverse and feature heavy sectors, TronPredcit also has its own Affiliate Programme up its sleeve. The programme is aimed to empower individuals or organizations to create their own instance of TronPredct using the native codebase. Users and fans of the dApp are eagerly waiting for the affiliate programme to launch so that the dApp can surge ahead of its compatriots.