faisal: BETTERBETTING - " Providing a global liquid pool "

Kamis, 18 Januari 2018

BETTERBETTING - " Providing a global liquid pool "

Overview

The Better Betting Foundation relies on effective technical implementation to achieve its goal of providing Global Betting Liquidity Pool. Along with the development of business needs, technical inquiry has been conducted with the aim to find the optimal technical solution. In essence, the intention is to provide a pool of global liquidity bets for use by targeted market creators and bettors. In principle, anyone can make a Bet Offer based on a real sporting event, this is more traditionally known as a bet. https://betterbetting.org/

Each Bet Bet will be grouped by market and event and listed in a searchable directory. Bettors who want to place bets can then search in the directories and find the bets they want. The betting acceptance process then involves blocking Ethereal to maintain an agreed bet contract which also has shares and liabilities in escrow - the system will use self-issued token bets (BETR). When the event is over, the bets associated with the event can be completed. To settle the bet, the result of the selection should be determined.

The smart bet contract will contain information about the parties that will supply the results of the selection. In the case of bets offered by these sports books generally the Bet Offer Creator (bet bet). Another solution is to direct a third party to the results (this could be a data feed) or point to a custom third-party node that is a knot node - it will be completed according to a set of rules based on all other similar settlements. https://betterbetting.org/

One Application and Two Linked Systems

The Ethereum Network will be used for the management of bet contracts and BETR tokens and interfaces to other systems on it to provide UX to Offer Bet and Bettors by running the betting directory service as a distributed database. This system we call 'Better Betting Node' ( BBN ).

BBN is a downloadable app that is installed on a user's device and includes an ethereum wallet. This is similar to blockchain applications as far as operating without central servers and nodes communicating with each other to maintain the state of the database. BBN does not need to store data indefinitely, and that is one aspect that distinguishes it from standard blockchain networks where each node (or miner) stores a full copy of the transaction ledger.

How it works for everyone

There are two parties that make a bet. In our terms, we call the party that created ( or bet ) 11, offers STAFF. Traditionally it would be a sports book, but in our case, anyone could be a bet for the author. On the other hand, the party receiving the proposal ( or its part ) is called BETTOR.

In terms of Bettors, they basically want to see a list of sporting events and betting options with constraints and limitations. Selecting the bet option and applying the bet amount, you can bet. For CREATOR BET, they want to create a series of offer bets with betting options, odds and limitations ( maximum risk ) and place them in the betting directories so Bettors can select them as described above. It is assumed that a standard BBN API will be created that allows Creator Bet to integrate directly with its own system so that it offers automatic proposal submissions.

First of all, this system should know when sporting events are planned and when the results are planned. To do this, you can use the same APIs available for sports books to connect the BBN samples and data feed providers. This will facilitate the creation of automatic events, markets and choices, and will also facilitate the results. One of the main features of the catalog is the provision of an event identifier, a marketplace and choice, so event data can be mated to the betting system. The event identifier will contain the identifier of the main channel provider and may also include the developer identifier.

Structure of three layers of biofuel

To provide a technical solution to these requirements, a three-tier application is considered, which can be described as follows :

ICO

The system will be financed with token issues ( BETR ). BETR will be limited depending on the number of tokens available and will be issued according to the following schedule :

Sales of ICO and token

At least $ 2 million, a maximum of $ 30 million will be issued through token publishing. This fund will be used for :

Development and production of Bet Bet Bet
Development and manufacture of software for dapps and nodes with open source code
Marketing for key stakeholders and consumers
Administrative and administrative expenses

The use of currency is very important for ICO - we believe that the betting market offers an opportunity to use currencies that far exceed many other ICO proposals.

Continuous Maintenance Tokens The Company will periodically create sustainable maintenance reports and sell them on the market to replace records to be burned as part of operating costs. The transaction fee will be based on the main gas price consumed by the transaction and will be set for the transaction regardless of the amount of the bet

Team