This decentralized binary options platform puts every step of traditional binary options
trading procedures on the blockchain. In practice, this means dedicated smart contracts for
every binary option created by Brokers, and using a price data source provided by Oracles.
Financial payments are only made after all parties meet the contract terms — nobody can lie
about the amount of funds locked up, embezzle them, or create fraudulent schemes. On
Giant.Exchange, traders can safely bet on the price motions of various assets using Giant
coin as the primary financial tool.
The future of the project is backed by the vibrant economic space of cryptocurrencies (they will become the first underlying assets of binary options on the exchange) and other spheres. Brokers may also create smart contracts related to completely new assets. This user-generated options platform will be the first practical test of the Giant blockchain and its smart contracts.
This decentralized application is focused on safe sports betting. Just like on
Giant.Exchange, every bet is put on a smart contract and, again, Giant Coin (GIC) will be
the primary means of payment. All the development experience gained from Giant.Exchange will
be used when creating Giant.Bet. Oracles will pull information about sports matches from
trustworthy sources, e.g. the FIFA website. In traditional sports betting, you are
restrained by the range of offerings created by offline bookmakers. On Giant.Bet, anybody
can create a smart contract connected with a new sports event, as long as there is a
reliable source of data to pull game or match information.
The continuously growing world of sports ensures the bright future of Giant.Bet. In comparison to Giant.Exchange, this application may become even more popular in the long term, as more people are interested in sports betting than options trading. Cybersport matches can also potentially appear as the theme of wagers on Giant.Bet. The more types of sports included on Giant.Bet, the more diverse the community becomes. All of this is possible due to the unique Giant Contract technology, which allows for any bet creation as long as there is a reliable API and the underlying event is clear. This will make Giant.Bet a truly global marketplace.
This project seriously differs from two previously explained, as it is aimed solely at the
crypto community and uses the peculiarities of the Proof-of-Stake (PoS) consensus algorithm.
Currently, PoS wallet clients need to stay online to receive block rewards — this mechanism
is called HotStake. With Giant.Coldstake, stakeholders will be able to receive staking
rewards even if their wallet client is offline. This innovative technology makes
Proof-of-Stake extremely convenient for everyone. No longer will it be required to have a
computer turned on 24/7 to be a network participant and receive a cryptocurrency reward.
In comparison to masternode sharing and cloud mining services, of which there are many already available in the crypto space, there is a deficit of projects dedicated to shared staking. This is partly explained by the dominance of PoW coins, but the biggest issue is the difficulty of creating an accurate reward accounting system. The Giant technology protocol allows for the implementation of a smart contract that can accurately and efficiently calculate all of the required payment procedures.