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5 y

Block Sports drops Ethereum embracing Neo blockchain as its ‘icing on the cake’

Block Sports, a decentralized sports betting exchange, in a recent interview stated that it had adopted the Neo blockchain after dropping Ethereum. The company is of the opinion that implementing Neo blockchain has ensured them to offer the clients a secured cryptocurrency betting “where escrow and processing is handled on-chain, giving users true control of their funds”.

Why did Block Sports leave Ethereum to run on NEO blockchain?

In the interview, Tsering Redmond, the co-founder & CEO of Block Sports explained the switchover, stating that Ethereum stumbles whenever it has to work on high transaction volume platform, and that is an obvious reason behind the shift. He said: “Initially we were designing Block Sports for the Ethereum platform. But as we all know, Ethereum doesn’t play very well with high transaction volume platform, so we were quite anxious about performance and how that would affect the user experience.” SEE ALSO “When we investigated Neo it was a no brainer for us. Apart from the enormous performance improvement offered by Neo, the development language capabilities were very attractive. Something we found after making the decision to switch to Neo was how incredible the community was. This was the icing on the cake.”

The decentralized exchange frowns at centralized ones

According to Redmond’s outlook centralized cryptocurrency exchanges create counter-party risk as users are needed to leave “the trustless nature of their currency by trusting their funds with platform operators”. “…there are no shortage of examples where large sums of cryptocurrency have been stolen from centralised exchanges, so this is definitely a big problem.” “This is the same story with sports betting,” he added. Although the market for cryptocurrency sports betting is impressive enough, it is end-to-end managed by centralized exchanges. Block Sports has stepped down from the usual path of centralization and opted to be a decentralized sports betting platform, “where all critical processing such as matching, escrow and payouts is handled on-chain in a decentralized environment. This removes the counter-party risk involved in trusting platform operators to hold your funds in escrow”.   Image via Shutterstock Join our Telegram group
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Meme Coin Launches Advertising Blitz Get the latest crypto and stock market news. Stay up-to-date with the latest trends and developments.
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Mehmet Şimşek’ten Yeni Kripto Para Açıklaması! Hürriyet'e konuşan Mehmet Şimşek kripto paralara ilişkin yasa çalışmasında son aşamaya gelindiğini belirtti.
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Kripto Noel’i Çoktan Geldiği Düşünülüyor! Bu Coinler İlgi Görebilir *Yazı yatırım tavsiyesi değildir! Sponsorlu (reklam) bir içeriktir. Kripto para yatırımları yüksek riskli yatırımlardır, yatırım yapmadan önce detaylı
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Major Japanese Exchange Adds Support for Shiba Inu (SHIB) Coincheck has announced the addition of Shiba Inu (SHIB) to its trading services
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Bu Altcoin Aralık Ayında Resmen Parladı: %138’lik Ralli Devam Edecek Mi? Kripto para sektöründe yeni gelişmelere açık bir sektördür. Son gelişmelerden biri olarak, Ethereum'un rakibi Avalanche (AVAX) piyasa değerinde muazzam
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U.S. CFTC Approves Bitcoin Futures Platform Bitnomial's Derivatives Clearing Application The commissioners discussed issues like conflict of interest before ultimately voting in favor of the margined bitcoin futures company.
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U.S. CFTC Approves Bitcoin Futures Platform Bitnomial's Derivatives Clearing Application The commissioners discussed issues like conflict of interest before ultimately voting in favor of the margined bitcoin futures company.
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FTX Receives Authorization to Sell Billions Worth of BTC, ETH, and Sol FTX's legal team filed a request with the U.S. Bankruptcy Court for the District of Delaware, seeking approval to trade their cryptocurrency assets to repay creditors.
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Coins

#
FAV
NAME
PRICE
Portfolio
1H
24H
7D
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1
Bitcoin
Bitcoin
BTC
$ 70 598.75
$ - - - - -
( - - - - - )
Set your amount
OK
-0.01%
+0.87%
+5.41%
2
Ethereum
Ethereum
ETH
$ 3 580.76
$ - - - - -
( - - - - - )
Set your amount
OK
-0.15%
+0.19%
+1.06%
3
Tether USDt
Tether USDt
USDT
$ 0.999821
$ - - - - -
( - - - - - )
Set your amount
OK
+0.01%
-0.02%
-0.06%
4
BNB
BNB
BNB
$ 586.45
$ - - - - -
( - - - - - )
Set your amount
OK
-0.48%
+1.57%
+3.36%
5
Solana
SOL
$ 186.11
$ - - - - -
( - - - - - )
Set your amount
OK
-0.60%
+0.07%
-1.35%
6
XRP
XRP
XRP
$ 0.620419
$ - - - - -
( - - - - - )
Set your amount
OK
-0.35%
+0.45%
+0.14%
7
USDC
USDC
USDC
$ 1
$ - - - - -
( - - - - - )
Set your amount
OK
+0.02%
+0.03%
-0.01%
8
Dogecoin
Dogecoin
DOGE
$ 0.215210
$ - - - - -
( - - - - - )
Set your amount
OK
+6.32%
+17.71%
+41.99%
9
Cardano
Cardano
ADA
$ 0.650327
$ - - - - -
( - - - - - )
Set your amount
OK
-0.11%
+0.13%
+2.41%
10
Avalanche
AVAX
$ 54.14
$ - - - - -
( - - - - - )
Set your amount
OK
-0.92%
-1.46%
-1.33%
11
Shiba Inu
SHIB
$ 0
$ - - - - -
( - - - - - )
Set your amount
OK
+3.37%
+6.21%
+19.64%
12
Toncoin
TON
$ 4.90
$ - - - - -
( - - - - - )
Set your amount
OK
-0.17%
-0.84%
+18.52%
13
Polkadot
DOT
$ 9.54
$ - - - - -
( - - - - - )
Set your amount
OK
-0.24%
+0.28%
+1.08%
15
Bitcoin Cash
Bitcoin Cash
BCH
$ 565.12
$ - - - - -
( - - - - - )
Set your amount
OK
+0.43%
+14.77%
+32.01%
16
TRON
TRON
TRX
$ 0.120120
$ - - - - -
( - - - - - )
Set your amount
OK
+0.02%
-0.28%
-1.27%
17
Polygon
Polygon
MATIC
$ 1.01
$ - - - - -
( - - - - - )
Set your amount
OK
-0.57%
-1.73%
+1.39%
18
Internet Computer
ICP
$ 17.70
$ - - - - -
( - - - - - )
Set your amount
OK
-1.52%
-6.92%
+43.74%
19
NEAR Protocol
NEAR
$ 7.31
$ - - - - -
( - - - - - )
Set your amount
OK
-1.41%
-5.48%
+10.37%
20
Uniswap
UNI
$ 12.42
$ - - - - -
( - - - - - )
Set your amount
OK
-0.50%
-1.08%
+3.09%
21
Aptos
APT
$ 17.94
$ - - - - -
( - - - - - )
Set your amount
OK
-0.23%
-0.57%
+17.46%