Dexsport: Offering a transparent decentralized betting platform
The Internet, as we know it, provides us with a range of tools: we can interact with other users, create and share our own content, and even earn money in different fields.
At the first glance, everything here is promising but, in fact, a knowing eye can quickly notice existing security issues as well as censorship and centralization. When all data is stored on a server that is controlled by a third party, it can be hacked and user information can be used in many undesirable ways. These are the characteristics of Web 2.0, the current branch of the Internet.
Decentralized Internet is the next era of development that has been given the name Web 3.0. The main difference from Web 2.0 is decentralization, i.e., independence from third parties. It is managed by decentralized applications (DApp) built on blockchain. DApp ensures reliability, privacy protection, and transparency.
While it takes some time to fully migrate to Web 3.0, many services make decisions to operate in a decentralized space. One of the industries that are thriving in this space is betting.
The Advantages of Dexsport
You probably heard how regular bookmakers might take advantage of their users. Very often, the betters are accused of foul play, leaving their accounts blocked or permanently deleted without much reasoning or proof behind the decision.
In other cases, betting algorithms already have the odds stacked unfairly against the user. Even worse, sometimes users are able to deposit their funds but are not allowed to withdraw any profits they make. This current system does not offer mutual honesty and transparency to all of its participants.
Dexsport, a decentralized betting platform, was developed to solve this problem. This platform is based on blockchain and works on the Binance Smart Chain (BSC) Testnet. This is a breakthrough in the online betting world that gives all users an opportunity to start betting while also improving the credibility of the betting space itself.
Let’s take a closer look at how the Dexsport differs from traditional betting platforms:
- Dexsport «lives» in separate nodes (nodes) located around the world and on the devices of its users. You don’t have to worry about being blocked or deleted without a reason.
- Any player can monitor hidden algorithms.
- If the player wins, his balance is immediately displayed in the Web 3.0 wallet. He can either withdraw the money immediately or send it to the shared liquidity pool.
- You can track all transactions made on the platform using smart contracts. Since they are recorded in the blockchain, no one can manipulate this data.
- No identity verification is required so you can maintain anonymity.
DeFi space provides unique opportunities for players involved in any sort of gaming: sports betting, sports betting with MetaMask, play-to-earn games betting, prediction market, P2P prediction on cryptocurrency rates, and NFT marketplace.
Dexsport is an innovative project in this space that sets out to change the public’s perception of betting. It is open to blockchain enthusiasts, investors, and all users interested in betting who are ready to invest in a shared pool of liquidity. A transparent and reliable system is a progressive leap, proving the vision of the industry and care for all its users.