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BetMatch – Bringing secure & transparent betting to blockchain
The project’s top priority is fraud protection and bookmaker’s activity transparency (users can always verify the platform’s account balance). You can bet that betting will become more innovative.
People have been making bets since the earliest of times. In Ancient Greece, spectators used to bet on the Olympics’ participants, while in Ancient Rome – Romans used to bet on gladiators and chariot racers. Back then, people placed bets by agreeing with each other. Bookmaking as a business originated in Britain two millennia later. Throughout history governments limited or even prohibited betting and gambling, as they took the matter very seriously. Betting industry boomed in the 1990s as bookmakers started to accept bets via the Internet.
Crypto-betting is secure, fast and transparent.
Typical betting platforms share the same problems, such as opacity, geographical payment limitations and necessity to trust site owners who might fix the odds or refuse to pay-out the winnings. All these problems can be easily solved by implementing blockchain and cryptocurrency into the core of a betting system.
In the majority of cases gamblers are not able to keep track of the funds and trace the bets in a blockchain. Such bookmakers use cryptocurrency only for client generation and do not make the next step.
Blockchain technology can offer a solution that can break this cycle of mistrust and create a new standard for online betting. BetMatch project utilizes such a solution and offers betting based on blockchain technology.
BetMatch is a decentralized betting house that combines a classical business model based on traditional betting abiding by an unbiased paradigm that uses blockchain technology with a social betting network as the second (community-based) layer. BetMatch’s architecture offers several features that work together to create a safe and transparent betting system:
– elimination of the human factor and third-party influence on bet processing, results displaying and winnings pay-out
– all bets are unprecedentedly fair and transparent due to the use of blockchain technology
– cryptocurrency-only bets, which means no more payment systems’ fees on deposition and withdrawal or immense charges on the winnings
– “bookmaker’s guarantee” is replaced with “smart-contract”, which means that all the bets will be instantaneous and pay-outs can’t be delayed or cancelled
– using internal tokens for betting can reduce the internal fees twofold
BetMatch uses XBM internal tokens (Ethereum ERC20 standard). Using these for betting, users can drastically decrease the internal fees or even cash out said fees on top of the winnings. Users can also lease the XBM tokens to the users in need for a small percentage of their winnings. XBM tokens will also be awarded to active and useful members of the community, such as experienced forecasters or outstanding sports analysts. The token is listed and can be purchased on Latoken exchange (https://latoken.com/ico/ETH-XBM), Crex24 (https://crex24.com/exchange/XBM-ETH) and betmatch.io. The token has grown 500% since its launch.
Players using centralized betting systems risk losing their money, as the company itself decides how much will be paid-out in the end. BetMatch with its combined business model, however, is designed to create a long-term solution for modern cryptocurrency-based betting systems.
Funds are deposited on a smart-contract which automatically transfers currency for betting on the user’s account and pay-out is guaranteed by a dedicated liquidity pool the balance of which can be verified at any given moment. Every 100th block containing data on the private blockchain activity is uploaded to Ethereum public blockchain. That allows the system to operate with high speed but also provides security, decentralization and fail-safety.
Enjoy secure betting on BetMatch.io.
Cryptocurrency prices remained in an upbeat tone on Thursday as the US dollar index continued its bearish move. Bitcoin, the biggest cryptocurrency in the world, rose to $23,165, the highest level in months. Similarly, Ethereum has risen by more than 4% in the past 24 hours while BNB Coin and XRP surged to $307 and $0.41, respectively.
US dollar index retreats
Cryptocurrencies have an inverse relationship with the US dollar index. For example, the DXY, which looks at the performance of the greenback vs other currencies, soared to a 20-year high of $115 in 2022. As that happened, cryptocurrencies like Bitcoin plunged during the year.
The foundation of this relationship is the Federal Reserve. In most periods, the US dollar index tends to rise when the Fed is extremely hawkish and vice versa. And it was extremely hawkish in 2022 as it hiked interest rates by more than 400 basis points.
Therefore, while the Fed has remained hawkish recently, the US dollar has dropped because of what the data is saying. Data published recently showed that America’s inflation is easing. The closely watched consumer price index dropped to 6.5% in December while core inflation fell to 5.7%.
At the same time, other parts of the economy are showing that the American economy is indeed recoiling. Retail sales dropped sharply in December while many…
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…
Blockchain conglomerate GDA Group joins as Campden Wealth’s newest Corporate Partner for 2021. Based in Toronto, GDA group provides access to all verticals of the crypto capital markets to institutions and private investors. The two institutions once operated on different verticals, so the partnership indicates a new era of portfolio allocation and asset diversification. Digital assets, including bitcoin, are becoming a vital component of modern investment strategies. GDA Group provides multiple avenues for digital asset exposure, including trading services through their institutional trading desk Secure Digital Markets, including non-recourse lending up to $100M through GDA Lending, and private placements through their capital markets arm GDA Capital.
“Institutions have spent a decade on the sidelines, evaluating the risks of this burgeoning sector. Now, in less than 6 months we have seen billions in institutional and private capital enter the space,” says James Godfrey, FX and International Banking Advisor to GDA Group. “Our relationship with Campden will illustrate the maturation of this industry and where we are headed next. New stakeholders will need experience, resources and insights to navigate this new market and evaluate upcoming opportunities.”
“The Campden Community is constantly balancing the needs of wealth creation for the future, with wealth preservation…
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