ChainBet is your Decentralized Betting Buddy. We all know how popular betting applications have become in recent years. Despite the fact that they are an excellent product, the issue of security persists.
The global sports betting market size was valued at USD 76.75 billion in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of 10.2% from 2022 to 2030. Taking this into consideration,we created ChainBet.
ChainBet currently consists of 2 games:
1. Lottery: Users enter the game/lottery by depositing 0.1 Matic. Random winner will be selected in every 30 minutes. Chainlink VRF is used for selecting Random winner and Chainlink Automation is used for automating the process of selecting winner after every 30 minutes.
2. CryptoBet: Cryptocurrency values are constantly fluctuating. Users can bet on the price of the cryptocurrency and win money by betting on whetherthe## How to play price will rise or fall. Chainlink Data feed is used to fetch real time price of cryptocurrency and Chainlink automation is used for automating the process of selecting whether the price goes up or down after every 60 minutes. After that the users who bet on the price will go up and will be paid 2X the amount.
Again ChainBet currently consists of 2 games:
1. Lottery: Chainlink VRF is used for selecting Random winner and Chainlink Automation is used for automating the process of selecting winner after every 30 minutes. 2. CryptoBet: Chainlink Data feed is used to fetch real time price of cryptocurrency and Chainlink automation is used for automating the process of selecting whether the price goes up or down after every 60 minutes.
Solidity is used as smart contract programming language. Hardhat is used as Smart contract Framework. etherJs is used to fetch and interact with Blockchain data. NextJs is used as a Frontend Framework. Quicknode is used as RPC API
