Development of a Blockchain-Based Objective Betting Platform

Existing online betting platforms face issues related to trust, fairness, and susceptibility to cheating or hacking due to centralized control and opaque processes. There is a need for a secure, tamper-proof system that guarantees game fairness and protects user bets without reliance on traditional server infrastructure.

A digital gambling platform seeking to ensure fairness and transparency in betting with decentralized technology-based solutions.

• Create an objective betting system utilizing blockchain technology to enhance transparency and trust.
• Develop a smart contract-based MVP that allows users to create and answer argumentative questions, enabling betting on various questions.
• Implement a reward mechanism encouraging users to propose popular questions by allocating 0.5% of the betting sum per question.
• Ensure platform security and fairness, making cheat attempts or system manipulation practically impossible.
• Achieve a decentralized, tamper-proof system with no single point of control, reducing insider threats.
• Deploy on Ethereum Main Net and facilitate seamless user interaction via MetaMask or similar Ethereum wallets.

• Ability for users to create argumentative questions and post them publicly on the platform.
• Functionality for users to place bets on questions, with a transparent blockchain ledger tracking all transactions.
• Automatic reward distribution to question creators (0.5% of the betting sum).
• Platform earning model based on 0.5% fee on each bet applicable to the question creator or the platform.
• User interface supporting Ethereum wallet interactions (e.g., MetaMask) and deploying on Ethereum Main Net.

• Ethereum Main Net for deployment
• MetaMask or comparable Ethereum wallets for user authentication
• Optional: external notification services for user updates

• High security guarantees ensuring tamper-proof transactions on the blockchain
• Decentralized architecture minimizing single points of failure
• Scalability to support increasing number of users and questions
• Performance benchmarks ensuring real-time interactions, with minimal latency
• Compliance with security standards to prevent hacking or unauthorized control

The proposed blockchain-based betting platform is expected to deliver a highly transparent and fair betting environment, significantly reducing cheating and insider threats. It aims to build user trust through decentralization, with multiple users creating and betting on questions, resulting in increased engagement and platform growth. The system's secure framework minimizes risks of hacking or server compromises, thereby establishing a reliable online betting ecosystem.