They can predict events related to sports, weather, politics and even finance markets. The fact that
The creator company has a market
Stox coin Work?
The Stox platform has three significant participants namely the providers, operators and the users. Below is a discussion of how each participant affects the functioning of Stox.
The providers are those companies that are already in existence and are being wooed to join the
The companies can then help in developing the
Apart from developing the
Operators are those persons who create the events in which users participate.
It is the operators who determine the fee each participant pays. An operator can be any organisation, individual or any entity that participates on the
It is important to note that any user can challenge the outcome announced by the oracle within 24 hours. This makes the prediction process reliable and transparent. For one to submit an appeal, the person has to pay some STX; this is done to discourage people from making false appeals.
Users can participate in the
Users can purchase shares from the pay-out of the outcome of the event they want to participate in.
When the outcome of the event is predicted by the user, the amount of pay-out given to a user is directly proportional to the value of shares bought.
When the event resolves with a different outcome from that predicted by the user, the outcome shares are equal to zero, and the tokens placed on the event are lost.
It is also important to note that price fluctuation of the shares occurs as the event continues and more people invest in the event.
Why Invest in Stox coin
Stoxcoin has been developed and trades on a well-established exchange that has been in the market for quite a long time offering excellent services to customers. It uses the network of an established cryptocurrency, and that creates a promise of it growing into a world-class platform. Stoxcoin has a clear roadmap- the roadmap shows a lot of promise in developing Stoxcoin further and stronger in the future by specializing in the management of international working environments and dealing with regulators in the market when need be. The project has so far developed on its road map.
- Few competitors are offering what
Stoxcoin offers- Stox’s leading competitor, Gnosis, only managed to sell about 4% of its tokens while the entire market share has been left for developers. Stoxcoin has a higher cap for its tokens distributed to its investors which gives it more control over the currency.
Stox coin legal limbo
Its owner, Moshe Hogeg has been accused of mismanagement of funds. He was accused in a lawsuit of only $5 million into the company from the $34 million that was raised during the ICO stage.
It was also claimed that Hogeg sold all his STX coin holdings thereby devaluing the cryptocurrency and that he later bought land in Tel Aviv worth over $19 million.
According to Hogeg, he reinvested the ICO money in other projects like the Telegram ICO.
Floyd Mayweather also came under the scrutiny of the SEC for not declaring the earnings he got for promoting the Stox ICO as he was one of the lead celebrity promoters of the ICO.
Mayweather agreed to the charges by the SEC and paid a fine plus interest. He also received a ban from participating in speculative promotions for 3 years.
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