Wiser is a groundbreaking project focused on transforming the landscape of crypto betting. At its core, Wiser addresses the shortcomings of traditional off-chain betting games, aiming to eliminate issues such as centralization, lack of transparency, unfair practices, privacy concerns, security vulnerabilities, and complicated withdrawal processes.
The project's vision is to create a fully on-chain, community-driven betting platform that operates on the principles of decentralization. Wiser places a strong emphasis on transparency, fairness, and giving power to its users. Unlike conventional crypto betting platforms where decentralization is often limited to being a payment method, Wiser integrates web3 compatibility, ensuring a decentralized and automated betting experience.
Pioneering in Plinko, a popular betting game, Wiser incorporates Verifiable Random Function (VRF) powered by Redstone to guarantee true randomness, eliminating any possibility of manipulation and ensuring fair gameplay. This is a critical aspect of the project's commitment to transparency and trust.
The platform introduces a user-shared bankroll system, allowing participants to collectively contribute to and benefit from a shared pool of funds. This innovative model not only fosters a sense of community but also directly involves users in the platform's success, sharing in both wins and losses.
Wiser utilizes a decentralized governance model, empowering users to make key decisions democratically, shaping the platform's future collectively. The platform also employs the Kelly Criterion for risk management, optimizing bankroll management for sustainable growth and minimizing risk for community investments.
The technology leverages blockchain for on-chain transparency and security, recording every bet and transaction securely. Instant and fair withdrawals are facilitated through direct wallet control, enhancing user experience.
Looking forward, Wiser plans to introduce additional features such as social interaction, AI-driven betting assistance, new games, a user-friendly mobile app, and enhanced anonymity features. The project is designed for long-term sustainability, with a user-shared bankroll system fortified by the Kelly criterion-based bankroll management, reducing the risk of long-term losses.
In conclusion, Wiser is not just a betting platform; it's a community-driven, secure, and transparent ecosystem on the blockchain. The project invites users to join in reshaping the future of betting, offering a space where entertainment and autonomy coexist, free from the drawbacks of centralized authorities. Wiser envisions a future where every gambler is informed, in control, and can enjoy betting in a fun, secure environment.
How It's Made: Technical Insights into Wiser Smart Contract Development:
"Wiser" is rooted in a suite of Solidity smart contracts, forming the backbone of our innovative on-chain betting platform. We utilized Hardhat as our development environment, streamlining the compilation, deployment, testing, and debugging of our contracts. This setup allowed us to work efficiently and ensured our contracts were robust and secure.
Our interaction with the Ethereum blockchain was enhanced by the Ethers.js library, simplifying tasks such as sending transactions and reading contract states.
Security and Testing:
Emphasizing security, we incorporated OpenZeppelin’s Secure Smart Contract libraries to leverage well-tested functionalities, bolstering our contract's security. Comprehensive testing was conducted using the Chai and Mocha frameworks, ensuring the reliability and integrity of our contracts.
Deployment and Verification:
We deployed our contracts using Hardhat scripts on the Scroll Sepolia network, chosen for its testnet capabilities and cost-effectiveness. The contracts were also verified through Hardhat scripts, ensuring transparency and validation for users and developers.
Randomness and Redstone's VRF:
We initially explored Redstone's Verifiable Random Function (VRF) for randomness. However, after consultations with the Redstone team and the Scroll community, we implemented a pseudo-randomness approach to ensure fairness and unpredictability within our platform's technological framework.
Kelly Criterion Algorithm: Our implementation of this betting strategy in Solidity was both challenging and innovative, offering an optimal betting experience based on mathematical principles. Dynamic Betting Limits: The _kellyWager function adjusts betting limits dynamically, crucial for managing platform risk and maintaining a balanced betting ecosystem. Custom Payout Function: The makePayout function, catering to ERC-20 tokens, reflects our commitment to flexibility and user convenience. Frontend Development:
The frontend of "Wiser" was developed using React, providing a responsive and user-friendly interface. We integrated wagmi, a set of React hooks for Ethereum, which acted as a wrapper around the Metamask SDK, simplifying the interaction with Ethereum wallets and smart contracts. This setup allowed users to interact seamlessly with our smart contracts, enhancing the overall user experience.
"Wiser" represents the fusion of blockchain technology, smart contract sophistication, and innovative financial strategies. From the solidity foundations to the frontend's React integration, every aspect of "Wiser" has been meticulously crafted with precision, security, and user experience at the forefront.