Beth allows anyone to create a prediction market. Market creator specify real world api endpoint that returns data in json format, string describing how the json will be parsed, parameters of post/get request, range of results to bet on and timestamp when the market will expire . The Beth creates a smart contract, that allows user to bet on the value, that will be returned by the API. The main added values of this project are: 1. For people trying to know odds of some event in future, it provides easy web interface to create prediction market for that event, lowering the technical barrier for creating such market. 2. Allows users to bet on outcome of any API in the world, without discrimination. Giving them opportunity to create unlimited possibilities for globally accessible markets with derivatives of value based on such unorthodox things such as weather, tweet activity, price of regular or digital assets, 3. Skipping the middle man, mostly the sport betting companies in the industry. These have proven record of restricting long term profitable users from using their services. (https://arxiv.org/abs/1710.02824) 4. Added transparency of how the betting engine operates, all the order books action is happening in the open sourced smart contract on ethereum blockchain.
Also to be said, we started just a week before the end. :D
For demo video please use this corrected link: https://raw.githubusercontent.com/asketak/chainlink-beth/master/video.mp4