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September 24, 2017, 05:37:13 PM |
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Hey All,
My name is Alesti and I have been experimenting with cryptos for the better part of 2017. I would in no way say I know what im doing and am just throwing this out there to see how the community reacts. I have had this idea for over 5 years but with no way to get funding I saw no way to make this idea become a reality. After reading the book Blockchain Applications however I figured that this might be the perfect solution to my platform.let me know your thoughts.
Workout Wager Platform:
Motivation
What is the best motivator? There could be a million answers but some of the most common being
money, sex, health and many others. With Workout Wager we are bringing a new element to motivation
and how it is perceived. At the beginning we will be trying our the wager algorithm in the fitness
motivation scene since we see the obvious benefits to society and use cases.
How it works
In its most basic sense you are essentially betting on yourself, don’t make you bet? Pay a penalty. Win or
meet your bet and get rewarded. Simple right?
Technical How it works
When you are creating your wager you will set a set a goal that you would like to reach. For example,
“Workout 30 minutes, 4 days a week for 4 weeks” and place $25 USD, BTC, ETH, WW as a commitment.
Once created the wager will go into escrow. Once the wager is complete you must verify the wager by
verifying each of your workouts.
If you win your wager you are issued the your wager plus a reward of $X WW that is agreed upon when
you first create our wager. However if you do not complete the wager your original wager goes into the
zone.
Verification
At first we will support two ways of verification. The first being location and time. If you prefer to
workout at a gym or fitness center you can set it within our app and check in each time you arrive and
check out when you leave.
The second is for users who prefer to workout doors I.e. running outside etc. We will offer API syncs
with Nike Plus and Strava with more to come in the future.
While neither of these solutions are iron clad users who are suspected of gaming the system will be
subject to additional review processes which at the start will consist of human review with intentions to
move to a vision algorithim that will run on the WW network.
The Zone
The zone is a special account that is dedicated for lost wagers on the Workout Wager network for the
past 24 hours. Each 24 hours the zone calculates the losses and awards the miners of the network that
contributed during each timeframe.
Fees
Each time you create a wager you will be charged a small fee of .0001% of the wager immediately
leaving 99.9998% in escrow.
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