Zeitgeist, the evolving blockchain for futarchy and prediction markets, today announces the integration of smart contract functionality to its protocol leveraging Polkadot's recent XCM v3 release. This integration will allow builders and users of the Zeitgeist platform to leverage smart contracts for the automated creation of, participation in, and resolving of prediction markets, in addition to automated liquidity management.
The introduction of smart contract functionality provides developers with the opportunity to explore the platform’s SDK and develop cutting-edge applications while availing of Zeitgeist's advanced decentralized prediction market primitives. This creates heightened flexibility and trust for users, allowing developers to assess the usability of smart contracts to promote the continued advancement of DeFi and other facets of the industry.
Logan Saether, CEO of Zeitgeist, said, "The deployment of smart contracts on Zeitgeist is a huge step in the right direction for developers. Given the enhancements brought about by Polkadot's XCM v3, we believe this development will greatly enrich the services and features we offer our users and developers. We are excited about the potential that smart contract functionality brings to our platform."
Zeitgeist will benefit from updated XCM's programmability features, such as expectations, conditionals, contest tracking, and branching to enhance the platform's smart contract functionality. One such feature of Polkadot’s XCM v3, remote locking, will enable Zeitgeist to request that an asset be locked on another chain, a crucial interoperability feature for secure blockchains.
XCM’s v3’s vastly improved cross-chain communication and interoperability features, such as its multi-hop setups enabled by the new junction, GlobalConsensus, will support Zeitgeist in its mission to create an expansive, interconnected ecosystem. By providing users with the ability to extend beyond the Polkadot ecosystem, Zeitgeist will enable global access and use of prediction markets.
