Deep dive into CryptoPool — with Demo

Create a ‘pool’ to predict the value of a cryptocurrency at a certain point in time.

For those already on-board Team Transient, we trust you enjoyed what you’ve seen so far with our foundational product, TSC-Core. We are now delighted to have you see our second dApp in action, CryptoPool (there is a way cooler name which we will share closer to launch).

If you’re a newbie to the Transient network, Transient is a decentralized ecosystem built from the ground up to facilitate and increase blockchain adoption across every sphere of industry and life hosting and enabling the instantaneous creation and distribution of a wide range of self-enforcing and self-executing Smart Contracts. Transient is quickly becoming a key conduit between on-chain, off-chain and multi-chain interactions and check out our articles here.

As would be evident in our first demo, TSC-Core is about building on top of our ecosystem and proving out core principles of scalability and seamless ability to enable additional use-cases in the form of dApps. servicing an array of industries across the globe.

New kid on the block

CryptoPool is our second dApp created in alignment with our mission to build a global marketplace to service various real-world use cases. Our second dAapp will serve a number of purposes as we continue to prove out how our users would like to interact with our platform and continue to leverage the Transient Network to provide a differentiated experience.

Our latest product is a platform built to facilitate peer-to-peer price prediction pools, for several cryptocurrencies primarily ERC-20 tokens — providing the ability for a user to create a ‘pool’ and allow entrants to predict the value of a cryptocurrency at a certain point in time, by entering a pool and inevitably sharing in a prize pool if their prediction is correct.

As you can see in the video below, CryptoPool has been built with a consistent user experience and leverages the many technical functions that were created as part of the development of TSC-Core which will allow us to deliver these new experiences at pace.

Best of all, as you become more familiar with Transient’s marketplace, you will notice similar interaction points and the same aesthetically pleasing UI to ensure the point of entry for our users is as seamless as possible.

Whether you are on CryptoPool or into the future our eSports offering you will be sure that the same principles have been applied and will be applicable to how you want to use our products. A critical example of this is the ability to utilize the same structure of self-executing and self-terminating Smart Contracts — albeit for a different purpose. This is also clear demonstration of the ability for Transient to build out additional dApps with a high velocity.

Getting back to why you’re here, this is how CryptoPool works:

Choose your own adventure:

i.) As a ‘Creator’, you will have the ability to create competition pools providing the ability for ‘Entrants’ to enter your competitions

ii.) A competition pool can be created with a number of varying attributes, completely up to the ‘Creator’ — these are:

· ERC-20 token that your ‘Entrants’ will be predicting

· Bracket Prices: a price range that your ‘Entrants’ will select against

· Date and Time of expiry: at the point of time an Oracle will provide, validate, and pay out based on price

· Entry Fee: the required fee an ‘Entrant’ would need to deposit — this effectively covers the ‘Creators’ reward contribution

· Reward: the total value the ‘Creator’ is willing to put up for winnings to be distributed

Once the Smart Contract has been triggered by the price validating Oracle, winners will share in the total ‘Reward’ put up by the ‘Creator’ — for example, if the total reward for a competition is 1 ETH and 4 entrants selected the correct price, they would each be paid 0.25ETH and see themselves climb up the Overall Leaderboard

As we continue to build out the functionality of CryptoPool, the team are keen to explore opportunities to ensure loyalty is rewarded and those that regularly contribute within our network’s community have a reason to come back time and time again.

You will see this through the rebate structure we will be announcing prior to mainnet launch rewarding our users for creating, joining and sharing competitions will leverage our native token and bring a great deal of utility across the Transient Network.

Given our roadmap, CryptoPool is a couple of weeks behind its predecessor in TSC-Core so there will be some significant additions prior to launch, however, the team find it critical to show pour community what we are working on and get feedback coming through thick and fast from our users.

So, have a look at our demo and jump into our socials to pass on your feedback. We are looking forward to hearing from you!

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