Recently Transient Network announced that Cryptopool is LIVE – it’s time to explore the possibilities Transient 2nd dApp presents
Transient is the Smart Contracts Global Marketplace – an ecosystem that gives non-coders the ability to create their own Next-Gen Contracts in the digital world. Increasing blockchain adoption across every sphere of industry and life.
Transient has always positioned itself as a solution provider in the cryptocurrency space, combining blockchain decentralization and disruptive technology with an appealing UI-UX to improve users’ experience in the crypto world. CryptoPool, a transient second decentralized application, is bringing the Price Prediction Market to a new level — in cryptocurrency.
Recently Transient announced that Cryptopool is LIVE – it’s time to explore the possibilities Transient 2nd dApp presents
CryptoPool And How To Use It
While Price Prediction is a mature market, there is undoubtedly room for improvement. CryptoPool outlines its fundamentals, combining a key tenet of blockchain technology – decentralization – with a more equitable revenue distribution model and a distinctive user experience/user interface that will undoubtedly appeal to the majority of retail users.
There are many platforms that allow people to predict stock prices or cryptocurrency prices, but their revenue share is a point of concern. For correctly predicting the future on well-known platforms, many people receive “rewards” – rather than actual shares — for their efforts. It’s not uncommon for most of the money to be left in the house. The difference between today’s market and the revolutionary Cryptopool is the most important thing to understand.
CryptoPool is a platform that enables users to create peer-to-peer price prediction pools for a variety of cryptocurrencies – primarily ERC-20 and BEP-20 tokens – with all the transparency you need, showing up on your screen. Allowing users to create a ‘pool’ and invite participants to forecast the value of a cryptocurrency at a specific point in time. The straightforward process entails joining a pool and, if the prediction is correct, sharing in the pool’s prize pool.
With that in mind, let’s attempt to comprehend the size of the Price Prediction market, how it operates, and what the Transient impact will be in the future.
How it works
How To Use Cryptopool
To join in CryptoPool there are two major needs:
- Metamask Wallet
- Be a $TSCT holder
Being a $TSCT holder brings you more than just the advantages of having a valuable, usable and high potential token, it also brings you unmatched benefits, privileges and earnings inside Transient’s ecosystem.
There are two primary modes of interaction: Creating a Pool and earning significant rewards for doing so, or joining a Pool and relying on your prediction abilities to earn a share of the pool rewards.
Creating a Pool
When creating a Pool, make sure you have enough gas tokens and $TSCT on your Metamask to create the pool.
There 4 types of pools:
#01 | Standard Pool: A ‘Standard’ CryptoPool is our most popular option, allowing you to create a pool with minimal risk and potentially earn a reward for doing so.
#02 | Community Pool: This pool is free to start and only requires a small entry fee and minimum entrants. It’s perfect for content creators and leaders.
#03 | Guaranteed Prize Pool: In a ‘Guaranteed’ CryptoPool, the prize pool is guaranteed as long as a ‘minimum entrant’ value is met.
Because the prize is ‘Guaranteed,’ it should be extremely popular with the community and attract high-value creators with large audiences.
#04 | Free Prize Pool: In a ‘Free Prize’ CryptoPool, the prize pool is guaranteed if the users meet a ‘minimum entrant’. The Transient team and other partners may help facilitate this rare pool with unmatched conditions.
Let’s check this video to see the step by step guide:
Joining a Pool
By joining the pools, you’ll also gain access to the benefits associated with being an Advanced Tier on Transient’s ecosystem.
- Select the CryptoPool to which you wish to join.
- Determine the price range within which you believe the selected token will trade at the specified time. Following that, approve the spending limit, verify it on Metamask, and cross your fingers.
Each pool creates a transparent smart contract that is always attached to the pool’s link (top left corner of the page). Once the pool closes and the market price timer expires, each winner address via the self-executing smart contract will receive the automatic earnings.
There is no requirement to claim any tokens.
How to Join Cryptopool Step by Step Guides:
CryptoPool is the Transient Network team’s second application. Additional DApps will be developed in the future to demonstrate the potential of blockchain technology and cryptocurrency. Prediction markets for cryptocurrency prices can be extremely valuable to a large number of people, as everyone has an opinion on the current value of assets and their potential future direction.