BetDEX – The beginning of decentralized sports betting
What is BetDEX?
BetDEX is the world’s first decentralized sports betting protocol, incorporating technology blockchain with sports betting, with the aim of changing the sports betting scene forever.
The growth forecast for sports betting is looking promising, with sports betting with crypto growing each year. The sports betting market is currently worth around $250 billion, which can make BetDEX a large profiter.
What makes BetDEX unique?
BetDEX is built on a public blockchain called Solarium. Solarium provides BetDEX with $0.00025 fees, 50,000+ transactions per second and the fastest blockchain in the world.
The protocol will be fully decentralized and open source, allowing 3rd parties to build their own apps and develop on top of the platform. BetDEX plans to accept staking at launch.
Third parties will be able to use BetDEX’s back-end infrastructure to run their betting platform. BetDEX says its protocol will charge 2% less on net winnings, putting down centralized competitors like Stake and Cloudbet, who typically charge 2%-5%.
BetDEX does not hold any player funds, all player funds will be in their wallet. If the user places a bet, an invincible, escrow contract will be created on the blockchain, which will settle based on the event outcome and transfer funds accordingly to the winner.
BetDEX token
There currently isn’t any information on when the BetDEX token is available.
Information about BetDEX
Summary
Hope the basic information about the project will help you get an overview of the BetDEX project and please consider the article for reference purposes as it is not investment advice.
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