If i required an automated open contract. Payment is stored in the cintract until Proof of Completion.
Though any party who completed open contract is required payment. This system is required to be trustless. And the contract is required to be open.
So if this blockchain had a internal secure communication network running beside it. Though how is the contract created?
Data Transmission with information secured between required parties.
Now. Bringing data across to verify contract proof of completion. As external data / information is required as “proof”. The open contract must trugger on this information being submited.
Information researched, verified and given certification of “TRUE”. With the alternitive. “FALSE”. THEN the result PROCESSED further. Contract closes or remains open.
The verifiers will require payment. Though tracking of performance internally for failure, this provided erfotmance results to give incentive to improve performance against competors.
Verification of external data “oracle positions” incentive is required. Also a system of measurement / scale to verify performance and correctness “true outcomes”.
This is an undertaking that will require funds from the CGP, on a lasting time frame.
Oracles will be required - developing of this will require funds.
Contract. OPEN on funds submitted into Smart Contract (SC). Maker fees included in creation of the SC.
Taker fees taken from SC outcome on delivery.
Payout to Maker or Taker outcome undecided.
Taker must submit funds in SC to hold position within SC.
Position picked up according to positions. Multiple takers can take a piece of a SC dependent on the offering.
Options.
Selling Positions - Maker
Buying Position - Taker
Input verification. data required to finalize outcome of SC. Third party verification (oracle). DATA Delivered into the ecosytem - secure, decentralized and true (SDT). ORACLEs all MUST be = “SDT”
Oracle Development required voting on outcomes. Proof of Verification Authencity required on Verified Data submitted into Zen BlockChain Ecosystem for smart contracts.
Vote required within external BlockChain verifying “truth”. Working ecosystem developed as system of admins with correctness attached to their credentials. Higher the rank. The more valuable the verifier.