With the current push for disruptive blockchain solutions among all industries and the obvious fit for gambling segment, the most pressing issue in the gaming industry today has been about how to harness the power of the technology to create a more equitable and fair model for gambling enthusiasts worldwide. Few platforms have been already conceptualized and some even implemented over the last year. However, there remain few fundamental issues with slow, costly blockchain dependent games with a single house model in the absence of layer-two solutions. One company is looking to use off-chain state channels for RNG and game moves after channel creation.
The company, Decent.bet, is a transparent profit sharing sportsbook and gambling platform employing decentralized smart contracts on the Ethereum blockchain. The platform aims to provide a long-term solution that allows users from around the world to establish credit houses called DBET tokens, within the Decent.bet ecosystem. It will facilitate the function of sports betting and gambling games while leveraging the blockchain technology to harvest an equitable and fair working model that will promote transparency, verifiability, and constant uptime of the system in a profitable manner.
As of now, Slots testnet is available since 3rd January and has already found a following within the platform. On the other hand, the Sportsbook testnet and House testnet were released on 15th January 2015. All testnets are being done under the Ethereum test network. A series of other casino games are set to make a debut on the platform including craps, roulette, etc. which will be intended for mass adoption. It has put in place technology that simulates real-world gameplay, so players do not have to wait for ETH transactions for each pull of the slots. This custom technology has an added benefit of saving on gas costs on the Ethereum network.
The community can install and try out these games right now. The platform encourages community participation on the testnets so that it can utilize the feedback and ensure that the backend technology can be further improved, and it works as expected.
Last September saw the beginning and successful end of its ICO, so the technology is expected to efficiently capture the users’ imaginations to match the enthusiasm during the ICO. The Decent.bet sports betting platform will employ a trusted setup where the Decent.bet addresses provide betting lines and outcomes. The transactions are easily verifiable on the blockchain as a measure to improve transparency. This makes it impossible for malicious or predatory activity to take place from the outset.
Decent.bet will use its own ERC20 token – DBETs – to facilitate gambling endeavors on the platform as well as the purchase of DBET house credits. Unlike any other platform in existance, Decent.bet smart contracts pay out 100% of the casino profits to the DBET token holders that funded the house. Payments are made quarterly and are automatic. This offers a compelling value proposition to Decent.bet since a number of already established decentralized gambling platforms primarily use Ether and Bitcoin for transactions. It will open up numerous possibilities such as community-owned houses, white label solutions, and others. It also allows Decent.bet, which is already perfectly situated to take full advantage of the changing tide in technology, to have a competitive advantage over other traditional sportsbook firms.
Learn more about Decent.bet at – https://www.decent.bet/.