As the Ethereum ecosystem continues to evolve, new standards are emerging that expand the utility and functionality of blockchain technology. Among these new innovations is ERC-837, a recently introduced standard that allows users to create and place bets within the smart contracts of ERC-20 tokens. This marks a significant development for decentralized betting, enhancing the way smart contracts can be used for interactive, trustless wagering.
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Bet Creation: Any user can create a bet within the token's smart contract by specifying the conditions and rules for the wager.
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Placing Bets: Other users can participate by placing their own bets on the specified conditions.
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Outcome Resolution: Once the event's outcome is finalized - whether through an automated oracle system or other predefined conditions - the smart contract autonomously determines the winner(s) and distributes the winnings accordingly.
ERC-837 represents a significant step forward for decentralized betting and prediction markets on Ethereum. By embedding wagering functionality directly into ERC-20 token smart contracts, this new standard offers users a secure, transparent, and autonomous way to bet on outcomes.
You can find out more about the project here.