Reputify
Reputify is a prediction market platform where users can stake tokens to upvote someone’s prediction. If the prediction is correct, the predictor earns a portion of the staked tokens, rewarding accurate insights and fostering a reputation-based system of trust.
Project Description
Reputify is a decentralized prediction market platform that integrates smart contracts and a user-friendly frontend. Users log in with external wallets like MetaMask or Phantom, and upon registering, they receive tokens. The app allows users to make their own predictions or upvote/downvote others' predictions, staking tokens in a collective pool. Once a prediction's outcome is determined, rewards are distributed based on the result. If the prediction is correct, the predictor earns tokens and upvoters reclaim a portion of their staked tokens. If wrong, the predictor receives nothing, and upvoters lose their stake, while downvoters are rewarded. Reputify incentivizes users to share and support accurate predictions, fostering a token-based reputation system.
How it's Made
Reputify leverages multiple cutting-edge technologies to create a seamless Web3 experience. On the backend, Hedera Token Service was used to deploy the token smart contracts, enabling users to stake and earn tokens within the prediction market. Additionally, Hedera File Service and Hedera Smart Contract Service were utilized to deploy another layer of smart contracts, ensuring decentralized and secure execution of platform functionalities.
On the frontend, Next.js was chosen to provide a robust and scalable infrastructure, ensuring a smooth user experience. The platform uses MySQL as the primary database to store user data, ensuring fast access and reliability. For user authentication, the app integrates with Dynamic, allowing for flexible and secure sign-ins using external wallets like MetaMask or Phantom.
To manage the development environment, Docker was employed to containerize the codebase and spin up the database, ensuring a consistent setup across different environments. In addition, Docker Compose was used to configure and spin up an Nginx server, enabling smooth integration with external services like 1inch APIs for token swaps and other DeFi functionalities.
Reputify’s combination of Web3 technologies (Hedera services, smart contracts) and traditional Web2 tools (Next.js, MySQL, Docker) ensures a secure, scalable, and user-friendly platform for its prediction market model.
