FansUnite, part of the growing list of decentralized platforms, envisions a more efficient blockchain-based sports betting industry. It aims to create a diverse ecosystem of decentralized applications (dApps) that function using decentralized and free provisioning of sports data through the FansUnite Protocol.
Eliminating sports betting issues like unfair value capture and high fees, the FansUnite Protocol consists of publicly available smart contracts, developer-friendly tools, and standardized data structures for market information — all of which are integral for blockchain betting.
The Protocol, with its mission to simplify sports betting on the blockchain, is designed to achieve the following:
- a fully trustless betting by having dApps rely on incentivized and independently operated Oracles
- use of dApps developers’ own Ethereum-based tokens while using the FansUnite Protocol for these functions: bet submission, resolution, payout, and market creation
- transparent access to all market data
- dependence on a network of independent, incentivized Oracles that provide sports data
- zero duplicates
- adoption of blockchain-based sports betting by existing operators
- efficient use of Ethereum network resources
After the launch of the Protocol, FansUnite targets to finalize its gaming license by Q3 2019, along with the launch of its sports betting dApp during the same time.
By Q1 2020, FansUnite will implement Test Network Oracle Solution and release the mobile sports betting dApp for iOS and Android users.
At the time of writing, the demo version of the FansUnite Sportsbook is available. This sportsbook will be the first dApp on the FansUnite Protocol and will provide bettors a more efficient and transparent sports betting on blockchain.