Looks pretty cool. I have a few questions.
1) How are the winners/losers established? Is there a data feed hosted on a centralized server that relays the results of matches?
1) Bets are settled on the blockchain using a broadcast we provide, choosing the correct result out of options we display on the CounterSports application. Winners are awarded with their earnings automatically using bitcoin 2.0 protocol.
Does that answer the question??I think he meant to ask how do you get the result from the real life event. How do we know you can't make a mistake, accidentaly or maliciously?
Is it just done manually?
Anyway, it looks good!
Your question is an important one.
Regarding malicious tampering with the feed for our gain, an answer was posted by a user from the community, which we feel is well put:
Wow ! Countersports is greaaaaat ! I was waiting that from a long time
But who is behind ? Because we need to trust the feed issuer.
That looks like betfair without betfair, really good job
Who we need to trust? Yourself so you dont play or offer too small or big odds
If i have understand right how that working?
You have to trust the feed issuer. But he has nothing to win by rigging an outcome (maybe just a one time gain on a strong bet), because that would basically be the end of his business.
So basically yes, this is a nice step forward !
Regarding the possibility of a mistake:
We upload the results automatically. So far we have ran tests and did not encounter any mistakes.
In addition, to further scrutinize our results, and to make sure they are reliable, we have set up an
intervention mechanism:
The results for each event are published 5 hours prior to the actual broadcast settling the bet on the blockchain, alongside a "report address" for filing appeals. Anyone can send 0.1 BTC to the report address and the broadcast settling the bet will be postponed until an admin manually approves the result. If a result that we were going to broadcast turns out to be false, the user that has notified us of the mistake will get his BTC back and an additional XCP bounty.
Furthermore, We sign broadcasts when we first publish the events online (before the event starts) from our main address, so users could be safe in the knowledge that we stand behind our word.
