Published on June 9th, 2018 | by bitcoin0
Trustless Bitcoin Cash Betting Mechanism to use Chainbet protocol
On Saturday June 9, the founder of the bitcoin cash-centric wallet Electron Cash, Jonald Fyookball, revealed that he had created an on-chain betting protocol called Chainbet.
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Chainbet: A Trustless Gaming Mechanism Built on the Bitcoin Cash Network
This weekend the creator of Electron Cash, Jonald Fyookball, revealed a new on-chain betting protocol that enables a simple coin flip wager that’s tethered to the BCH chain.
Developer Says Chainbet Needs Peer Review
The Chainbet creator says in order to perform a trustless coin flip wager, Alice and Bob need to create secret values.
Moreover, the Chainbet protocol has a messaging client within the codebase that allows parties to exchange any “extraneous communication through the internet”.
A good majority of Bitcoin Cash proponents seem to like the idea and complemented Fyookball on his concept.