sep 14, 2017 - Automated Feed with Bitcoin and Counterparty Data

Description:

This idea would set up a betting feed with relevant Bitcoin and Counterparty data. This opens up opportunity for managing risks, as well as for speculation on assets using the Counterparty Protocol.

This proposal aimed at utilizing the existing betting system using broadcasts on the Counterparty Network. This proposal aimed at integrating an oracle in the protocol, eliminating the need for a trusted middleman (for data derived from the blockchain).

The proposed automated oracle would periodically broadcast values that have real economic impact on users of Counterparty and Bitcoin. This includes the fee level and the XCP/BTC price.

In addition, JP Janssen stated, 'it's trivial to add a random number feed which will enable betting on any probability, and potentially be used for future smart contracts.'

Author: JP Janssen

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