A decentralised smart contract application based on Ethereum blockchain that enables people to bet against each other in pursuit, competition of predicting token prices.
E.g:
I can create a Betting Round using Coinbet.sol smart contract API like so:
function createBetRound(
uint _startTimestamp,
uint _endTimestamp,
uint _resolutionTimestamp,
uint _betAmount,
uint8 _coin
) public returns (uint roundId) {Each Betting Round has its Start -> End period and a Resolution timestamp defined.
Betting period must end, at least 7 days before the winner resolution takes place, as it doesn't make sense to do ad-hoc bets as the last person betting would have the highest chance of guessing the Coin price.
Currently betting on the following coins is supported:
enum Coin {BTC, ETH, XRP}Bets can be submitted using the bet function:
function bet(uint _roundId, uint32 _predictedPriceDollarCents) public payable returns (bool success) {The transaction is validated and the value sent must be of the same amount of Wei as Betting Round defines.
E.g:
If someone created a Betting Round on the XRP price with betting period finishing in 1 month and a resolution timestamp defined for 2 months from now on where each participant's "bet" must be of 1000000000000000000 Wei (1 Ether) then the bet transaction must hold 1000000000000000000 Wei in order for bet to be accepted.
| Task | Description | Status |
|---|---|---|
| Winner resolution | Contract needs to have defined logic for choosing the winner(s) of the Betting Round. | ✅ |
| Decentralized Winner Resolution | This is tricky as external data (Coin price at resolution timestamp) from one of the exchanges in advance agreed on, must be provided and be trustworthy. | ❓ |
| Store winners | When the BetRound is closed, all winners should be stored in BetRound "winners" attribute in order to be retrievable later on via Web interface. | ❓ |
| Tests | Cover the whole contract with tests | ❓ |
| Web interface | A web interface should be developed to make creation of Betting Rounds and Bets easier. | ✅ |
| Web bet | Add an option to bet on a bet round | ❓ |
| Deploy | The app should be deployed to a decentralised filesystem. | ❓ |
| Fee | Fee cut logic should be included in the contract that sends to Coinbet developers an in-advance specified percentage cut after each Betting Round resolution. | ✅ |
Get in touch with me via Twitter or create a new Issue to discuss the development. Looking forward!