---
image: https://i.imgur.com/x3dvKfW.png
---
*Decentribe White Paper*


# Crypto Races & Crypto Challenge: On-Demand Competitions to Determine Who Has the Best Price Prediction Skills

:::info
*Crypto Races & Crypto Challenge Development Status: 80% Complete*
:::
:::success
<i class="fa fa-info-circle fa-fw"></i>Summary

*What is Crypto Races and Crypto Challenge?*
- Crypto Races are short-term crypto price prediction markets, organized as "races" where participants make bets on which coin will have the strongest price action, or greatest price increase, after a period of time

- In each contest, players can make bets on the race outcome (i.e., will ETH or BTC have the highest price in the next 15 minutes?)

- The race creator (Crypto Challenge) allows players to create their own contests with various coins and time frames (e.g., 15 minutes to 3 days)

:::

---

One of the unmet needs in the crypto prediction market arena is giving people maximum flexibility to make bets on crypto prices, such as:

- Across multiple coins at once
* In the time frame they desire (e.g., to bet on whether ETH or BTC will have the highest price in the next 30 minutes)

Our short- and medium-term crypto price prediction DApp solves this problem by:

- Providing users with the ability to launch crypto price prediction contests on their schedule

- Letting users pick range of coins (from Binance Coin to Bitcoin)

- Control the minimum bet size to create matches that have minimum pots

Our highly flexible and easy-to-use DApp combines two products in one:

-**Crypto Races**: Players can participate in crypto “races” where the winner is determined by which crypto has the strongest price action at the end of each contest.

-**Crypto Challenge**: Users can quickly launch races on their own and invite others to compete during races that range in length from five-minutes to 3 days.

*Beta Crypto Races Interface*

**Note**: Interface images shown below are from the beta DApps and will change in the future.

The DApp enables users to bet on a range of open contests (or races) that have been scheduled by the Decentribe team or others (see the Crypto Challenge section below).

Each "race" is between two or more cryptos where the difference between the coin/USD price of each coin is tracked for the duration of the race.

As shown in the draft Crypto Races interface below:


- Orange: Currently open or scheduled races
- Blue: View recent race results
- Red: View race status (which coin has stronger price action)
- Yellow: Claim winnings
- Green: User current crypto price information to guide players on their predictions

*Understanding Crypto Race Results*

In each race, the coin that has the strongest price action during the contest will be declared the winner.

Two examples of race results are shown below.

++Example 1++
| Coin | Price Change % at Race End | Winner? |
| ---- | ------- | ----------- | ----------- |
| ETH | .25% | No |
| **BTC** | **.57%** | **Yes** |

++Example 2++
| Coin | Price Change % at Race End | Winner? |
| ---- | ------- | ----------- | ----------- |
| **BNB** | **-.25%** | **Yes** |
| ETH | -.57% | No |

*Crypto Challenge*

The race creator (Crypto Challenge) allows players to create their own contests with various coins and time frames (e.g., 15 minutes to 3 days)


As shown in the beta DApp interface above:

- Green, red, yellow and blue: Users can select the coins they'd like to bet on, the race duration, amount and start time
- Pink and White: Users can review their race details and start a race with a click

### Fetching Accurate Crypto Prices

To fetch coin prices for all our price prediction DApps, we use Oraclize, a framework allowing smart contracts to query data from external sources.

Oraclize is used by a range of blockchain companies to secure off-chain data, including Axie Infinity (to determine Axie breeding results).

Note: Oraclize is now named Provable.

Oraclize provides verifiable proof for every fetch, so anyone can check the validity of price data. Our contracts set the maximum security level for Oraclize (this comes with an overhead price for every fetch).

CryptoCompare is the provider for all of our price prediction DApps.

*Why not CoinMarketCap?*
CoinMarketCap has a 5 minute latency meaning less precision in price checking. Due to this it would be impossible to run 5 and 15 minute races.

[Next: GoldenTicketh: Raffles With Drawings Shaped By Changing Crypto Prices](/EgCgQXdMQ6eYKZotLPAG3g)

[Back to White Paper Table of Contents](https://hackmd.io/@decentribeTEAM/Decentribe_Whitepaper)