Performance backed by blockchain – what does that mean? When it comes to proof of performance, everything.
Everyone has an opinion in the betting game, many provide their thoughts and tips to those who’ll listen. But what is the point of following a tipper if he isn’t profitable? There are several techniques used by free and paid tipping providers that don’t give the punter an accurate picture of whether the tipper is sustainably successful. Some don’t provide historic performance at all, while the furthest lengths many will go is showing a spreadsheet of history that can’t be verified.
How do you know that those figures or spreadsheets haven’t been altered along the way to improve the perception of their performance? How can you check that the tips were placed at the time quoted, and for that amount stated?
We believe the industry must be held to a higher standard.
Tip Titans moves to improve this standard by utilising the Hedera Consensus Service (HCS) on the Hedera blockchain network. The HCS was built to provide validity and transparency into the history of events over time. In Tip Titans case this provides users absolute verification that the performance they are looking at is true, as it validates and timestamps every pick at the time of the action, which can’t be altered after.
Every tip on Tip Titans is timestamped and recorded on the Hedera Blockchain, and users can go one step further and verify these events. By utilising this technology, you are guaranteed Titan’s historical performance is true. There is no hiding or changing the tip once it stamps the blockchain. If a Titan wants to edit a mistake they have made, they must stamp the blockchain again with the changes – all viewable by anybody inspecting Titan’s historical performance.
The Hedera proof-of-stake public network, powered by hashgraph consensus, achieves the highest security grade possible. We are proud to be the first to utilise this technology in the Sports Tipping & Investment industry.
Technical Details About Hedera Blockchain Verification:
The Hedera Consensus Service is the first Distributed Ledger Technology (DLT) network service to provide solely the validity and order of events and transparency into the history of events over time without requiring a persistent history of transactions.
Whether in financial services, IoT, or supply chain – the timing and order of events dictates everything from financial transactions to meaningful asset provenance. The applications must execute logic based on events which occur at a specific time, in a specific order. In many cases the users of these applications need to look back in time to the history of that order for everything from audit to reconciliation.
In the distributed ledger space, protocols aim to solve this problem through the provision of two features:
1. Decentralized consensus on the validity and order of events.
2. Transparency into the history of events over time.
The first value relies on the existence of nodes to come to agreement on the time an event occurred, ultimately producing a consensus order for events over time. The second value is the ability of any individual or entity to independently verify whether and when an event occurred. The Hedera public network is built from the ground up to deliver decentralized services at a scale needed for enterprise and consumer applications. This includes full decentralization of network operations, high performance, and guaranteed finality
Finally, the order that is created by the mainnet is final and verifiable. Consensus timestamps on the Hedera mainnet are 100% final once they are created due to its Asynchronous Byzantine fault Tolerance (ABFT) nature. This means that the timestamp of a given transaction is final and cannot change. Any client application can query the network for the record (created automatically by the nodes to capture key information about the transaction being added to consensus) and optionally ask for a corresponding state proof (a cryptographically secure and persistent assertion from the network as to the accuracy of the record) to confirm that timestamp.
For more information on the Hedera Consensus Service, please head to this link – https://hedera.com/hh-consensus-service-whitepaper.pdf