IGT price is $0.00000144
As of the time of updating, the current price of IGNITE (IGT) is $ 0.00000144, which increased by +0.00% in the last 24 hours. Trading volume, over the same period, amounts to 0.0.
IGNITE (IGT) is a decentralized prediction platform aiming to establish a consensus forecasting system in which every input carries equal weight. By leveraging large scale data computing and analytic capabilities, IGNITE seeks to deliver enterprise-level prediction applications. Using incentives, IGNITE allows market participants to communicate their insights about the outcomes of future events instantly and transparently, effectively predicting the future.
The IGNITE platform is designed to be decentralized by nature. This makes it difficult for any entity to manipulate prediction results, adding a layer of trust and reliability to the system.
In the IGNITE prediction markets, IGT tokens are used for two primary purposes. Firstly, platform users can utilize IGT tokens to pay for a specific prediction made through IGNITE. Secondly, IGT tokens serve as incentives for IGNITE users to buy and sell 'outcome shares' virtually in the market.
Users do this based on their current perception of the outcome's probabilities. As a result, they agree on a virtual price at which transactions can occur. As long as a prediction is active, this virtual price continues to fluctuate, reflecting the variation in the crowd's wisdom about the probable outcome.
When a market matures, that is, when the event transpires in the real world, IGNITE determines the winner based on the event’s oracle. However, there is no payment, in IGT tokens or fiat currency, between buyers and sellers relating to the buying and selling of these 'outcome shares'.
IGNITE's prediction market system leverages blockchain technology’s transparency and security to create a unique decentralized prediction platform. The use of IGT tokens for incentivization and prediction payments allows for a robust and efficient market structure.
The virtual buying and selling of 'outcome shares', based on the perceived probability, provides a dynamic marketplace. This idea of having changing values based on crowd wisdom is a unique feature of IGNITE’s prediction markets.
Moreover, IGNITE’s design protects against manipulation of prediction results, thus maintaining credibility in the market results.
Due to the nature of IGNITE’s blockchain-based platform, it enjoys the inherent security features of the technology. Blockchain provides a tamper-evident and transparent environment, making it secure against fraudulent activities. Furthermore, IGNITE’s decentralized design adds another layer of security, making it difficult to tamper with prediction results.
The total supply of IGT tokens is 10.0B, whilst the circulating supply accounts for tokens.
IGNITE (IGT) can be purchased on the following exchanges: Hotbit, IDEX. It is important to remember to conduct adequate research and use a wallet that supports IGT to store your tokens securely.
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