BetProtocol’s technology was on display at the Blockchain Revolution conference in Seoul on July 31, 2019.
Distinguished attendees, Korean media and press, as well as technologists from all over the world were at this conference to speak about the latest developments in blockchain. Gaming on blockchain was a hot topic. BetProtocol’s technology was showcased on the main event stage, and highlighted core capabilities of our first use case: Casino.
Cross-Blockchain / Blockchain Agnostic system
By supporting multiple blockchains (and even helping on-boarding non-blockchain operators to the blockchain space), BetProtocol is future-proofed from the development success of any particular blockchain. The first iteration of BetProtocol will be on Ethereum, but we envision a whole ecosystem of BetProtocol dApps on multiple chains.
Supporting multiple blockchains allows us to be adaptable and thrive in a fast-growing blockchain universe. It also allows us to expand to a wider, more global client base.
Multiple Wagering Currencies
Many of our “competitors” force players to wager in their own utility token. That is a big mistake, because it permanently handicaps them into small betting volumes. The mathematical limit to their platforms’ volume is by definition the market cap of their utility token. So coins with less than $20M in market cap will never become big players in online gaming. Ever. That’s called a fundamental structural fault, and it can never be corrected without jeopardising the very existence of our competitors’ utility tokens.
BetProtocol allows a whole host of wagering currencies from BTC, ETH, Dai, other stablecoins, and many other tokens under development. Technically any ERC-20 token can be used as a wagering currency on our Ethereum implementation.
So then what is BetProtocol’s $BEPRO token used for? Check out this article.
Stablecoin Wagering and Support
Why is offering stablecoin wagering so important? It’s simple:
To spare our players from having to take two gambles.
Non-stablecoin wagering dapps expose players to two types of risk: Risk inside the casino, AND the volatility risk of the fiat currency value fluctuating against the ETH or BTC they are wagering.
Players who don’t want the volatility can choose to wager in stablecoins, and BetProtocol supports that. We envision a whole host of dApps that offer gaming in stable and unstable tokens.
Controllable and Transparent House Edges
Operators need to be able to control their house edge–and perhaps more importantly–players need to be able to see the edge, and be sure that it is accurate.
One of the biggest issues in online gaming is that house edges are not transparent nor verifiable. An online casino may tell you that the edge is X%, but in reality there’s no way to verify that.
BetProtocol uses provably fair algorithms in all of its games to ensure that house edges and game logic are functioning as advertised.
We’d like to thank Blockchain Revolution for hosting this event, and we look forward to having our technology on display at further events in Korea, and greater Asia.
BetProtocol enables entrepreneurs and developers to create betting platforms in minutes. No coding required. Thanks to BetProtocol’s blockchain technology, these platforms are secure, scalable and regulatory compliant. BetProtocol’s vision is to create the new standard in online gaming based on fairness, transparency, and safety.
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