How do crypto prediction platforms make fair predictions?

by Lyra Bennett on May 30th, 2025 10:53 AM

Using a crypto prediction platform, Users can predict future occurrences in the real world. Usually, these platforms incorporate community voting, which allows platform users to place bets by staking their funds. If users place bets on wrong predictions, they will lose all their stakes. This method helps to make fair decisions as it leads to financial losses.

Most platforms utilize smart contracts, self-executing programs that automate the entire process, from market creation to market predictions. Select the ideal crypto prediction platform development provider to create smart contracts that govern the entire prediction platform. To ensure fair predictions, these platforms integrate an oracle. 

Since blockchain is a secure world, it cannot access real-world data on its own. So it depends on a tool called Oracle. Oracle connects with other platforms and trusted sources, pulling out accurate results. Then it sends the result to the smart contract that controls the crypto prediction platform and ensures fair predictions.