Bet Protocol Token Overview

in #blockchain2 years ago (edited)

BetProtocol enables entrepreneurs to create betting platforms in minutes. No coding required. These betting platforms are secure, scalable and regulated.

Thay have been working on our product for two years now, and using Blockchain allows them to bring more transparency and trust to online gambling.

vision:

Their vision is to enable anyone to dream of being a betting platform operator one morning, and actually be one that same day.

They have already launched a betting app in 5 minutes. Here is the demo of launching a betting app through our back-office portal on the Ethereum Testnet

features:

CryptoCurrency Integration

Accept cryptocurrency payments on your betting platform directly to your bank account and access a $200B market.

0.5% Per Transaction

Casino

A Casino Application from Layout, Engines, Games to Deposits

SportsBooking

A SportsBooking from Layout, Engines, Odds to Deposits

Prediction Market

A Prediction API for the market you decide

Solution

They are many hard problems for setting up an online betting company. To solve those problems BetProtocol works with a 3 layer system defined

  • Protocol–Network
  • Whitelabel Solution
  • Brand / dApp / User Interface

The problems are
Regulations (Protocol & Whitelabel & dApp)
KYC/AML/Combating Funding of Terrorism (Protocol & Whitelabel)
Player defined limits (Protocol)
Regulation defined limits (Protocol)
Operational Jurisdiction (Protocol & Whitelabel)
Age limits (Protocol & Whitelabel)
Wallet Structures (Protocol)
Tax Liability Reporting (Protocol & Whitelabel & dApp)
Overall Costs
Gaming Licenses (Protocol & Whitelabel)
Technology Side:
Odds Generation (Protocol & Whitelabel)
Event Resolution (Protocol & Whitelabel)
Payments (Protocol)
Disputes & Arbitration (Protocol)
Uptime (Public Blockchain & Protocol)
Security (Public Blockchain & Protocol)
Provable Fairness (Public Blockchain & Protocol & Whitelabel)
Auditing (Public Blockchain & Protocol)

Ongoing work

The following topics represent ongoing work:
A full messaging system specification

  • Optimized Consensus & Machine Learning Algorithms
  • Operational Limits on Gaming following relevant Legislation
  • More robust decentralization as distributed computing becomes more viable
  • Increased use cases for gaming and novel genres for new betting dApps
  • Integrating BPRO use cases for dApp users / Players

The BPRO utility token will have the following use cases:

  • Fuel for dApps and Decentralized Network Services
  • dApp Transaction Fees/Deployment Costs on the Protocol
  • Oracle Participation
  • Dispute Resolution

Backend Services

  • Premium Services on dApps
  • KYC/AML & Compliance Fees
  • Premium Services on B2B WebApp

Why betprotocol? Why not others?

Reasons:
The “Shopify” for betting apps
High Wager TPS
All Market Types
Regulatory Compliant Approach
Blockchain Independence
Wager Currency Agnostic
Charity Fund

For more information, visit https://medium.com/@betprotocol/7-reasons-why-betprotocol-is-better-than-the-competition-88d6421def5d
Comparison with Competitors:

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