Developers are stepping up and creating all sort of new apps for the Flow World Tour. At ETHGlobal Singapore, MayBee set itself apart with a decentralized prediction market that won first place in the Most Killer App Potential category.
Why MayBee Won “Most Killer App Potential”
MayBee is inspired by a preference for informed decision-making rather than blind speculation over potentially highly volatile assets.
MayBee allows users to place wagers on measurable events, from election outcomes to sports results. The platform is accessible through both the app and a Telegram bot, making it more user-friendly and convenient than similar platforms.
By integrating its prediction market into Telegram, MayBee eliminates the need for a standalone app, offering users intuitive, seamless, and immediate access. This allows them to place bets on the go and engage in real-time discussions about predictions with others.
Why MayBee Is Built On Flow
Flow stood out to MayBee’s team as it aligns with their goal to provide an efficient, low-cost, and scalable solution. The architecture of Flow is designed to handle high throughput, which is crucial for the functions of real-time transactions and betting markets that could see a large volume of users simultaneously placing bets.
Unlike other networks where transaction fees can become prohibitive during peak network use, Flow keeps costs low, ensuring that users aren’t burdened by fees whenever they make a bet or claim a reward.
Another key factor is the EVM equivalence enabled by the Crescendo upgrade, which makes it easier for Flow-based applications to interact with the Ethereum ecosystem, accessing wider Web3 liquidity and infrastructure alongside the user-friendly features of Flow.
“A commitment to developer support and the fostering of a strong ecosystem of dApps made Flow the obvious choice for MayBee to build and scale.”
The Challenges Building MayBee
Prediction markets rely heavily on fast and accurate data processing, and MayBee needed to ensure that users could place bets, track outcomes, and claim rewards without experiencing delays. To achieve this, they developed robust APIs, capable of handling user input from Telegram and seamlessly executing transactions on Flow. Any delay or lag in this process could result in a poor user experience, especially for time-sensitive betting.
Another challenge involved ensuring the smart contracts on Flow could accurately track and manage all bets while keeping transaction costs low. It requires a secure system to handle multiple users betting on the same event, which entails an efficient contract setup to keep the reward system fair and transparent, so users can trust it.
Lastly, integrating decentralized oracles to check bet outcomes proved challenging, as it was important to ensure the data were reliable and accurate.
How MayBee Becomes a Killer App
The Flow World Tour accelerated MayBee’s development, providing exposure to developers, investors, and users. With this momentum, the team is now focused on enhancing the platform with features like customizable betting options and deeper integration with Telegram’s social features.
MayBee also plans to expand into new markets and leverage Flow’s EVM compatibility to tap into the Ethereum ecosystem, aiming to become a leader in decentralized prediction markets.
“The blockchain infrastructure of Flow plays a vital role in ensuring betting on Maybee remains smooth and cost-effective. Because the network is designed for scalability, Flow can handle the high volume of transactions needed to support real-time betting without the network congestion or high fees that plague other blockchains. This makes placing bets through Telegram easy but also efficient and fast, ensuring that users don’t experience delays or exorbitant transaction costs. Speed and low fees are crucial to providing the seamless performance that MayBee promises, and Flow delivers both.”
Build on Flow
The Flow World Tour heads to Chiang Mai, Thailand next on November 4th, 2024, for the Edge City Lanna Hackathon and a new builder category: Social. Join the competition and build the next generation of social apps on Flow.
