Decentralized Betting Exchange Bettex Upgrades Gambling Experience

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by Alexandra Sayapina · 3 min read
Decentralized Betting Exchange Bettex Upgrades Gambling Experience
Photo: Bettex Coin / Twitter

High transaction fees, long lasting verification process, the third party commissions – all these factors can undermine the pleasures of the gambling industry. The new platform brings the benefits of decentralization to the betting markets.

The betting markets will probably exist as long as mankind. The combination of risk, excitement, the glory of winning and the heartbreak of loosing is never to become boring. The gambling industry has the rich history, but it does not mean that this sphere is closed to changes. Blockchain-based project Bettex is going to update the betting markets with the decentralized technology.

The two dominant forms of betting market service providers are bookmakers and betting exchanges. The choice between them depends on the personal preferences; however, betting exchanges have a number of undeniable advantages. Better odds for winning and unlimited bet size attract lots of gamblers.

Nevertheless, traditional betting exchanges are still far from being perfect. The payment systems are often a headache for users, not to mention extortionate banking fees. The blockchain technology has the power to end up all of these problems – and Bettex turns a technological advantage into a user-friendly platform.

Bettex is a decentralized betting exchange that uses the most progressive technological solutions built on the principles of decentralization, a distributed network and cryptography. The creators of the platform want to eliminate the existing problems of the gambling industry like fraudulent activities or long verification process with the help of blockchain. Bettex is developed to bring users best gambling experience ever.

The technological background of the project promotes confidence in the high level of security and usability. Bettex is based on BigchainDB, the software that has taken the best from blockchain and distributes databases. The use of this solution is already a proof of safety and convenience, but the team of Bettex has added some important features to this software like Tendermint integration.

The betting exchange is backed by the proprietary Bettex coin. The creators of Bettex wanted to provide the users of the platform with an ultimate method of payment that would be safe, simple to use and meet all the specific needs of the gambling industry. This intention resulted in the creation of Bettex coin.

This digital cryptocurrency with POS / Masternodes implementation has the benefit of low transaction fees and fast speed. The usage of the Proof of stake protocol eliminates the need for the third party in gambling-related transactions. All in all, the introduction of Bettex coin is the key element of the upgraded betting market experience.

Bettex is a young project which is still on its way to changing the gambling industry. However, high ambitions and hard work do wonders. According to the road map, Bettex coin was supposed to get listed on exchanges only in the third quarter of 2018. But it can already be found on multiple exchanges, and the official Twitter of the exchange informs followers on new listings almost every day.

The betting market is extremely diverse: some people just want to hit a nerve a little bit and some are aimed at making fortune. But no matter what is the motivation, every gambler wants the credible platform that minimizes the associated costs like banking fees. And that is when Bettex comes in.

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Alexandra Sayapina

Alexandra is a software engineer who specializes in core banking systems development for financial and IT spheres. Taking strong interest in blockchain, cryptocurrencies, and IoT, Alexandra got deep understanding of the emerging techs believing in their potential to drive the future.

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