Author: Alex Mizrahi 2014-04-25 20:06:37
Published on: 2014-04-25T20:06:37+00:00
An oracle can associate a hash with each possible outcome, making it useful for betting. When the outcome is known, the corresponding preimage will unlock the transaction. This approach has several advantages over multi-sig script, including not needing involvement in each specific transaction, having the same resolution for everyone who makes a bet on a specific event outcome, no need for two-way communication and no need for a special protocol. The oracle could publish the unlocking preimage on a web page, and participants would manually enter it into their clients.
Updated on: 2023-06-08T21:32:22.393152+00:00