What Is Cosmic Ape Coin (CAC)?
Whichever outcome gets the most bets, and maintains it’s lead for a long enough amount of time, wins. If you are uncomfortable with the outcome of an oracle, simply move to a fork of the blockchain that you think is honest. By default, nodes will go with the fork that has the most difficulty, but it is easy to manually tell your node to follow a different fork. The developers promise to maintain the honest fork.
Letting users bet helps the situation escalate to the point where it gets the miner’s attention. Any honest individual who notices an attack on the oracle can double their money by participating in defense. The Nash equilibrium will be for honest individuals to participate in the defense. Once enough honest individuals participate in the defense, then the oracle will catch the attention of the miners.
Cosmic Ape Coin Yes there is a cost for the miners to keep an eye on the oracle this way, but every time an attack happens, the miners can participate in the defense, and double all their money. This should more than make up for the cost of watching the oracle for attacks. The Nash equilibrium will be for miners to put some effort into watching the oracle for potential cheaters.
Cosmic Ape Coin Storage Key Points
|Coin Name||Cosmic Ape Coin|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
The killer app of blockchain is a salable market to trade assets whose price is determined by a trust-free and affordable oracle. State channels are worthless without markets. There is no value in being able to make smart contracts if you can’t securely determine the market price for those contracts. All the rest of the security doesn’t matter if they can get away charging you above the market rate.
A market provides liquidity, so you can trade financial risk with other users at the current market price. Markets on Amoveo are centralized and trust-free. Each market exists on a centralized server. The market is secure because the rules are enforced by channel smart contracts. Here is an explanation of how the market smart contract works.
Smart Contracts with more than 2 Participants
Cosmic Ape Coin uses the hub and spoke model. Each user finds a hub to make a channel with. The user pays the hub a fee to route their payments and bets where they need to go using the lightning network. Lightning contracts are made by hash time-locking and similar techniques. This connects multiple bets from different channels together. Either they all update, or they all do not update. This way users can participate in a smart contract that has more than two participants.
If a bet follows a long path, it could be locking up more liquidity than necessary. Cosmic Ape Coin can recover the excess in a trust-free way, without interrupting the bet. For example, let’s say Alice and Carol made channels with server Bob. Alice and Carol are betting against each other. Alice is betting $1 on the Astros, and Carol is betting $1 on the Cowboys. They are betting at 50-50 odds.
Derivatives, not Sub-currencies
Since there is no on-chain state, it would be impossible to put sub-currencies onto Amoveo. Sub-currencies are contrary to Amoveo’s scaling strategy. It is also impossible to do ICOs on Amoveo, but Cosmic Ape Coin does support other forms of fundraising. Amoveo has something much better than sub-currencies, it has derivatives.
With derivatives, you can build an asset that stays the same value as a Euro. It is a synthetic asset. You can send these synthetic-Euros to your friends, and treat them like Euros. You could participate in a market that is priced in synthetic-Euros.
Smart Contracts Inside Channels
Cosmic Ape Coin smart contracts are built on top of the Amoveo channel system. Amoveo channels allow for bets, which are Turing complete contracts written as a part of the channel. In the case of a disagreement, the blockchain can look at the channel and its bets in order to know how to distribute the money from the channel to the participants.