🖥️Platform Architecture

To achieve a highly decentralized platform, it's crucial to store as much information as possible on the blockchain. However, this approach can negatively impact user experience due to the inherent limitations of blockchain technology. To address this, our platform employs a hybrid architecture that combines decentralized and centralized elements to ensure operational efficiency and effectiveness.

Smart Contracts

The core logic for exchanges and market transactions is encapsulated within smart contracts, reinforcing the platform's decentralized ethos. Market creation and trading activities are recorded on the blockchain, ensuring transparency and verifiability. To enhance user experience, certain metadata are stored in centralized databases as auxiliary information, which can be disregarded if not accessible.

Frontend

The user interface is developed with React and deployed on a cloud service, facilitating user interaction with the smart contracts. The frontend aims to simplify the navigation and execution of trades on the platform, making the decentralized functions more accessible to users.

Backend/Database

For the initial stages of our platform, we're leveraging a traditional backend architecture, complemented by a relational or NoSQL database hosted in the cloud. This setup allows us to quickly develop and deploy the platform's Minimum Viable Product (MVP), ensuring we can test functionalities and gather user feedback efficiently. Key features such as user authentication, market data processing, and auxiliary metadata management are handled by this centralized system to provide a seamless user experience.

Our strategic roadmap, however, includes a phased transition towards a more decentralized infrastructure. We are exploring and integrating decentralized storage solutions like IPFS (InterPlanetary File System) and blockchain-based databases to gradually reduce our reliance on centralized components. This shift will enhance data integrity, transparency, and resistance to censorship, aligning with our vision of a fully decentralized prediction market platform.

As we progress, we remain committed to optimizing the balance between decentralization and user experience, ensuring that our platform remains both cutting-edge and accessible to users worldwide.

Open Source

While the project starts as a private endeavour, our intention is to open-source the codebase once it reaches a specific developmental milestone. This will allow us to collaborate with the community, leveraging collective expertise to enhance and refine the platform.