Aug 12, 2021

5 min read

What is DefiXBet?

Traditional betting platforms

The betting industry had become the most fast-growing industry globally since the mid 90’s when it was first shown to its interested followers. This industry is expected to reach a $100 billion market by 2026, which means more than $50 billion more than 2019.

Problems of the traditional ways

This industry has always been presented through centralized platforms with many issues like Regulatory Restrictions (RR). Also, there can be manipulated gaming scripts with which the players get interacted without actually knowing it. In addition to the two factors which has just been mentioned, is the risk of data poisoning that casinos make use of to gain more profit for themselves by fooling the players. Therefore, there was a massive increase in the need for another sort of betting platform which does not have the same issues as the traditional platforms.

Is there any way presented to avoid such issues?

The best way to avoid the traditional platforms (centralized platforms) is to use a safer platform and those issues addressed have no way into it. With the use of blockchain and smart contracts, no method is left for data poisoning or things like that.

How do the decentralized platforms work and guarantee a safe playing time?

The blockchain ecosystem provides the players with the opportunity to start playing with only a crypto wallet in their hands. A decentralized platform keeps players’ identities safe and gives total anonymity to the platform’s end-users.

How does blockchain address centralized casinos’ issue of data being manipulated?

All of the gaming data can be stored and retrieved from a blockchain. In other words, the risk of data getting manipulated is zero on these platforms.

Some of the differences between centralized and decentralized casinos

Centralized casinos require the players to deposit cash, fiat, and chips before the booking process, which can also be used to track the player’s fields of interest based on their identity. In contrast, decentralized casinos do not require any reserving process before playing. Players pay only before making a bet, and all they are going to need is a crypto wallet to interact with the smart contract.

Why should we start betting on decentralized casinos?

Decentralized financial transactions have paved the way for the decentralized gambling and betting process. Obviously, gambling and betting will go on the same path that financial transactions have, and the platform of gambling will for sure be on a decentralized system.

What do we offer?

Our vision for this daily growing market is to use the decentralized ecosystem of Solana to build a fully decentralized platform. With Chainlink oracle, the DXB platform will be able to interact with real-world data that can cryptographically be verified on the blockchain, and there will be no place for manipulated scripts on the DXB platform. This platform serves the players with AAGP (Anonymous and Autonomous Gambling Platform).

What are DefiXBet vital features?

Decentralized P2P Gaming

Our platform will be powered by the Solana ecosystem, and using Chainlink VFR (Verifiable Random Function), we will provide our users with a trustworthy & Fully Decentralized P2P Gaming experience. The decentralized P2P RPS game is our first game for the DXB Platform.

Decentralized Sports Betting & CDB

Using Chainlink oracle Networks DXB platform will interact with real-world data Like Sports result APIs in a highly tamper-resistant and reliable manner. This will ensure DXB Platform’s trustworthy and fair outcomes that are verifiable using cryptographic proofs.

With the CDB (Custom Decentralized Bet) feature, everyone can use the DXB platform to create fully decentralized bets based on their own rules.

Defi feature: Decentralized Finance

DXB’s major key features are using the “Defi” Protocol to share the casino’s profits among the DXB’s token holders [40%-40%-20%]; DXB’s Token value will overgrow by growing the platform’s scale. Token holders can gain passive income staking our token.

Incubation of 3rd Party Casino Games

Our platform will provide new blockchain-based gambling games (3rd Parties developers) with DXBs community support and experience to ensure that the projects will be delivered with a great chance of success. This process will reduce the early stage risk factors and minimize the investment risks. Our incubator’s projects can only get funded by using DXB Token.

DefiXBet Platform Summary

DXB is a fully decentralized P2P gaming & Betting platform with no off-chain data. All data will be stored on the Blockchain using the SOLANA ecosystem, chainlink oracles, and chainlink VFR. We are planning to share its profits among DXBs token holders by using the DeFi protocol.

Another intriguing point about DefiXBet’s platform is “C.D.B — Custom Decentralized Betting,” which provides the ability for any player to create a new custom decentralized bet with a variety of betting options on DefiXBet’s platform. The players can share the result of their bets with other players, and, most importantly, the DXB token possesses an actual use case that makes it unique and will grow with the scale of the platform.

Read more About our platform from the whitepaper…

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