Keep promises and get bonuses


How it works


Keeping a promise is not an easy task. Especially for long term goals. Our project aims to make achieving of goals exciting and profitable.

let's look at an example. Let's say you set a goal to run a marathon in 3 months. We suggest you making a public promise, backed up by a deposit. As a deposit you leave an arbitrary amount in the crypto currency. If you successfully pass the distance on time, you'll receive your deposit back with some additional bonus. If you fail, your deposit will go away. Bonus for the completed promise is charged as a fair share of all accumulated earlier deposits. Thus, you have the motivation to reach the goal.

The promise completion condition and the calculation of a bonus occur automatically by a smart contract. Now the system can only create sports promises because of objective assessment, but in the future other types of promises are planned.


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Technology

Ethereum smart contract is the central part of the system. It controls the entire process of creating and verifying promises. Moderator can resolve disputes in extreme cases.

To make a promise, you need to create an account (wallet) in the Ethereum network and have some amount of crypto currency to leave a deposit. Promise result is confirmed automatically by service oraclize.it You will get your deposit with bonus just right after the deadline of the promise.

Smart contract is open source. You can see it here https://github.com/hitfounder/wowmart_contract Address of deployed smart contract in Kovan Ethereum Network: 0x263f812c661e81B7b535c5c9C65c686B4A1e9B0b.


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