With the advent of cryptocurrency, the online gambling and betting industry has taken a new turn. By 2017, the online gaming industry was estimated to be worth $37.9 billion USD and continues to grow further.
One segment, that is sports gambling, contributes a major chunk of the online gambling industry. The 1×2 coin and sportsbook platform are specifically designed to cater to the core concepts of sports betting and democratize the online sports betting concept.
Being a blockchain-based cryptocurrency, 1×2 coin makes sports betting absolutely transparent and attracts gamblers across the globe.
Purpose and Network Structure of the 1×2 Coin
The team behind 1×2 coin has also developed a 1×2 sportsbook and intends to use the cryptocurrency primarily on this platform. As described on its homepage,
“The purpose of 1X2 Coin is to launch its own 1X2 Sportsbook which will accept 1X2 Coins as deposits, withdrawals and the main betting currency on the platform”.
In short, the team has developed a one-stop platform for all sports betting activities by using its native cryptocurrency, the 1×2 coin. The 1×2 Sportsbook is already up and running and caters to betting across multiple games like Soccer, Basketball, Hockey, Cricket, Rugby, Snooker, and many others.
Overview of Sportsbook platform
At any given time, the 1×2 Sportsbook gives a clear picture of the bids placed for different games in real-time. Interested participants can just select the game of their choice and enter the contest, usually with a wide array of betting options on the match.
1×2 Sportsbook is a worldwide sportsbook. Thus, anyone from around the globe can participate. By leveraging its native cryptocurrency, the 1×2 coin, the 1×2 Sportsbook facilitates instant transfer and settlement of funds.
Let us look into the network structure of 1×2 coins to understand better about its functioning. This is a self-funded system running on its own dedicated masternodes which supply the essential funds required for the improvement and maintenance of the project.
1×2 Coin Masternodes
In the 1×2 masternodes network, the coin investors are compensated by the network itself. The rewards are decided based on the contributions of 1×2 Coin owners acting as masternode holders, or through staking that provides confirmation for the blockchain.
The distribution of the 1×2 coin happens in a hybrid network that helps to secure the blockchain as well as ensure faster, transparent, and privacy-based transactions. Thus, apart from being the security agent for the platform, the 1×2 coin also serves as a means of payment.
1×2 Coin – Proof-of-Stake
Dropping the energy-intensive Proof-of-Work consensus model of Bitcoin, the 1×2 Coin team has adopted another alternative, i.e. the Proof-of-Stake consensus model. In the PoS model, the stakeholders are responsible for approving the network transactions and maintaining network security.
The stakeholders stake their token holdings to the blockchain network through their cryptocurrency wallets. Investors can collect passive rewards based on the 1×2 coins present in their wallets.
The PoS model is based on the premise of decentralized management in the absence of any single controlling authority. The PoS model is more efficient and environmentally friendly as it doesn’t need expensive, power-hungry mining equipment.
The 1×2 Coin wallets are available on both the Windows and iOS platforms and can be downloaded from the official website.
In addition to the 1×2 Sportsbook platform, the team has also developed a 1×2 Casino platform. The idea is to create a complete ecosystem for online gambling, thereby making the 1×2 Coin as a go-to cryptocurrency on these platforms.
Under the current stage of development, the team behind 1×2 Coin is working on on-boarding new multiplayer sports and Casino games. Furthermore, the platform plans to integrate other crypto options apart from the 1×2 Coins.
The expansion and platform development plans for the upcoming year include:
CONTINUE TO DEVELOP MORE 1X2 CASINO GAMES
ADD LIVE MATCH VIEW INSIDE LIVE EVENTS
ADD LIVE MATCH STREAMING INSIDE LIVE EVENTS
ADD IN HOUSE LIVE REAL DEALERS CASINO GAMES
CREATE P2P PLATFORM FOR TRADING 1X2 WITH BTC, ETH, etc
IMPROVE 1X2 SPORTSBOOK WEB AND MOBILE
PAYING WEEKLY DIVIDENDS TO INVESTORS
ALL KIND OF MARKETING ACTIVITIES
LAUNCH 1X2 SPORTSBOOK AND CASINO ONLINE SHOP
Source - https://cryptoshib.com/1x2-coin-transforming-sports-betting-by-cryptocurrency/