What it does
Smart Bets is an app that allows you to bet Ether on the outcome of future events. The app assists you with formalizing the parameters for a bet. These parameters include Ether amount, participants, and most importantly, Chainlink oracle parameters. We drew inspiration from the 0x protocol and put bet creation and matching off-chain. When the bet taker accepts your bet proposal, an on-chain transaction is created that results in both participant's Ether being escrowed in a smart contract. At the time specified in the oracle parameters, the Chainlink oracle network fetches data from the specified api and returns that data to the betting contract. The contract takes the data and pays out the participant with the winning bet choice.
Challenges I ran into
Communicating between our web interface and our smart contracts gave us a lot of trouble. We also spent large portion of our time learning new cryptography techniques.
Accomplishments that I'm proud of
This was our entire team's first time working with Ethereum and we had very few applicable skills coming into this. We are most proud of all the knowledge we were able to gain in such a short duration.
What I learned
What's next for Smart Bets
We are very excited to continue working on this project after the hackathon. There is a lot of work that we need to do and many features that we are looking forward to implementing, such as Dai and NFT betting. Our goal is to make the betting process as simple and as secure as possible. For small stakes betting, we believe it could be a much better process using our app than using existing betting websites that need all of your personal information.