Zap.org Announces Github Contest and New Development Templates
Are you a developer looking to show off your programming skills? Or one simply looking for the next best thing in decentralized technology? Then you should be sure to check out the recent monthly update released by the Zap.org team.
Developed on their already released competition templates, the Zap team will display one possible use-case of their powerful decentralized platform built upon the ethereum blockchain.
A Powerful Yet Easy Development Framework
Even more exciting, any developer only needs to change a few lines of code in the copy/paste template to swap the oracle used for the Github contest with any oracle of their choosing. As they note in their update:
“While the amount of GitHub commits is an arbitrary metric, anyone can take this template and swap the oracle in use here with any other oracle developed on our platform, such as ones for gaming (e.g., contests in which competitors participate through technology interfaces) and wagering (e.g., gambling on contests in which the wagerer does not participate and is only a spectator). And this only requires changing a few lines in the copy/paste template.”
Because Zap is a permissionless development framework, a developer can create any contest they desire for anyone in the world to participate in. Additionally, the demo competition where programmers compete to develop an improved git oracle based on the number of commits, will serve to display the uniqueness and power of the Zap platform.
Bonding Curves as a Solution
In another article by the Zap team, they explain bonding curves are revolutionary in advancing decentralized peer-to-peer interactions. They describe bonding curves as:
“…a smart contract that can issue tokens as one stakes value, or “bonds” tokens, based on a floating price point signifying the intersection on a graph between the point on the x-axis (horizontal graph line) showing many tokens have been generated, and the y-axis (vertical graph line) showing how expensive they become.”
So what, you might ask, is the benefit of these smart contracts? For one, it solves previous issues of needing to match buyers and sellers, which means trading can occur without needing market makers or liquidity.
For this contest (or any contest based on the template used here), anyone who wants to stake a position to the repository (or repositories) they believe will win can do so by bonding to them with Zap and then receiving a secondary erc20 token specific to each curve. Anyone can buy or sell their position through the decentralized ForkDelta exchange.
At the end of the competition, the losing curves will automatically be liquidated and split among the holders of the winning curve’s token by the smart contract.
Because the smart contracts and bonding curves operate based on impartial code, it created a new dynamic multi-use platform for decentralized engagements and interactions.
Seeing is Believing
While the previous section only briefly touches on bonding curves, it will be evident to anyone participating or observing this demo contest just how powerful a decentralized tool this is.
Already, Zap has many live oracles that anyone can bond to in order to speculate or query. As well, anyone can currently launch their own erc20 on Zap’s platform by using the bonding curve (again, without the need for a market maker or liquidity).
Now, some of the more exciting possibilities of this platform will be put on full display with this Github contest demo. Developers or participants (who do not need coding experience to bond) will be able to see just how all this functions.