Added a poll, it would be great if you guys gave input on this.
Single-Elimination means that if you lose once, you are out. The winner is the person who doesnt lose a single round in the tourney.
Double-Elimination means that everyone gets 2 chances, lose 2 times and you are out. The winner doesnt not have to be the winner of every round to win the tourny. 2 trys makes the tourney twice as long though.