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Again, what happens if the oracle gets it wrong? The problem I have with this scenario re: sports betting is that it decouples the trust of scoring games and p
by brandonmenc 5y ago
Again, what happens if the oracle gets it wrong?
The problem I have with this scenario re: sports betting is that it decouples the trust of scoring games and paying out bets - which is not a "feature" for bettors.
If I'm using a reputable, "centralized" sports book, they have a reputation at stake. They have more of an incentive to accurately score games than a third party oracle. If they pay out in error, they are likely legally required to eat the loss and pay the true winners.
None of that is enhanced by web3 if sports betting is legal and regulated.
- latchkey 5y agoCheck out chainlink ( https://chain.link/ https://chain.link/ ). Effectively, third parties are incentivized to run oracles which provide the data, and they all have to come to a quorum.
- brandonmenc 5y agoThanks. I will look at this.
- vmception 5y agoAnd there are plenty of other competitors to chainlink too