Stocks.Bet



  • Hi dears, another interesting project is being started. First of all, for who missed previous entry, what's a cryptocurrency? To be fast and concise, it is a digital medium of exchange. And the next question would be... What's your use? It is also easy to guarantee the security, integrity and balance of your financial statements by means of a network of agents (segmented file transfer or multisource file transfer) that verify (untrust) each other called miners, which are, for the most part, general public and actively protect the network (the web) by maintaining a high rate of algorithm processing, in order to have the opportunity to receive a small tip, which is distributed randomly.

    All this racket of cryptomoney has been increasing exponentially, however, most people know nothing about how blockchain technology works, what a smart contract is and how it could be used. For this very reason, I will first of all carefully introduce this type of block chain technology.

    Blockchain is a decentralized general ledger. It is a computer network that has an identical copy of the database and changes its status (records) to a common agreement based on pure mathematics. All this means that there is no need for any central server or any entity we trust (e.g. central bank, notaries, banks, paypal, etc.). The blockchain is the technological basis for all cryptomontages, whether Bitcoin, Ethereum, Hyperledger, etc.

    An important part of the blockchain is the smart contracts, a piece of code that is stored in the blockchain network (in each participant's database). It basically defines the conditions to which all parties using the contract agree. Therefore, if the required conditions are met, certain actions are executed. Because the smart contract is stored on all computers on the network, everyone must run it and get the same result. This way users can be sure that the result is correct.

    smartcontract.png

    After this brief introduction to the broad topic of Blockchain and Smart Contracts, we can already see that this technology opens many doors to new decentralized businesses and eliminates the need for expensive third parties. Many new companies are now working on this technology, and large companies are testing it in closed networks to collaborate directly with each other without the need for intermediaries. For that reason, there is a lot of projects that are starting to use this new technology. However, not all of them are worth it. We have to read well what each project is dedicated to, what is its whitepaper, its qualified advisors, etc. As I said, blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been more agile in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitiveness and this advantage enjoyed by the new players may be short-lived, as no economies of scale are taken into account.

    For this reason, the project I am going to present you is Stocks.Bet , the first Blockchain decentralized application to hedging risk on the Stock Exchange when the markets are closed. 


    Definition 

    As I said before, Stocks.Bet (STBT) (http://stocks.bet/) is the latest combination of betting, block chain technology, cryptocurrencies and stocks. It is an application based on the open source contract implemented Ethereum smart DApp (explained below) to bet on the price of listed shares and win everyone who bets against it.

    How it works

    To make platform positive, useful, and better, Stocks.Bet team has created a ÐApp. Firstly, what is a ÐApp? A ÐApp is a decentralized application, i.e. an app that does not depend on a central system, but on the community of users that use it. The decentralized application can be a mobile app or a web application that interacts with a smart contract to perform its function. If we remember briefly what was an intelligent contract or smart contract, we will say that it is a computer program that runs itself when the conditions that were programmed in its code are fulfilled. To make it clear, I put it below a comparative between Apps and ÐApps.

    App ArchitectureÐApp Architecture
    Captura de pantalla 2018-06-29 a les 23.14.48.pngCaptura de pantalla 2018-06-29 a les 23.15.00.png

    So, on the one hand, they create the Parimutuel Betting Dapp based on the Blockchain contract with all the business logic of this contract, which is a decentralized application with maximum security. On the other hand, in order to provide dynamism to users, a completely new product is created - Spread Betting App prototype that demonstrates how to place bets on the best Bid / Ask in the Order Book.

    Within the platform, bettors can bet on listed shares that they believe will rise at the beginning of the market in view of other actions at the time of the rebound. To place the bet and claim the reward, the bettors need to use Metamask. As I said, all transactions are fully insured by the Blockchain contract to allow users to bet on the stock price of the NASDAQ list and win from punters who are not as smart as you are. This contract can control the funds, calculate the change of shares with the closing price of the market and the opening price of the market plus one minute. Contract prepare reward for the winning punters.

    Advantages

    Stocks.Bet platform provides an easy-to-use interface to interact with the intelligent betting contract that handles all operations in a secure manner, including collecting bets, tracking prices, calculating winners, and rewarding. The betting system used by Stocks.Bet is called Parimutuel Betting as I explained before, and is popular in many sports where the participants finish in order of classification.

    Roadmap

    DateEvents
    DEC 2017Create Smart Contract
    Q1 2018Create beta DApp. Crowdsale process and code audit
    Q1-Q4 2018Listing on Cryptocurrency Exchanges
    Q2 2018MainNet launch with daily bets. UI enhancements. Dividends contract
    Q3 2018Voting portal. Betting Contracts with more stocks
    Q4 2018Mobitle App. Status.im integration. Additional language support



    Airdrop

    The project gives the opportunity to earn Stocks.Bet (STBT) tokens performing some social media tasks and doing simple steps from the bounty program explained into this Bitcointalk Webpage. Here (https://bitcointalk.org/index....) you can access to the link in order to see what are the conditions to become an early STBT contribubitor and start acquiring tokens.

    Doesn't that sound interesting? If you are interested in this airdrop or basically in the ICO, you can read their Whitepaper here (http://stocks.bet/assets/pdf/w...). You can also stay tuned in their official Telegram group (https://t.me/StocksBetChannel). I hope you liked the post and soon I'll send you new ones.

    Token Allocation

    Author Details

    Email: [email protected]

    Telegram username: @clauminghttps://bitcointalk.org/index....

    Ethereum address: 0xC6AB45541006D53D31E25b41c7d245c5Ad99BF71


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