Azuro, a blockchain-powered sports betting platform, recently won a $4m funding round to develop a decentralized online betting protocol. The startup is hoping to use the funds to build a global, trustless and transparent, betting ecosystem.
Trustless and Transparent Ecosystem
Azuro's decentralized betting protocol seeks to create a trustless and transparent betting system. The protocol connects bettors and bookmakers, allowing them to set their own terms and conditions. No 3rd parties are involved in the process, thereby removing the need for trust. The use of blockchain technology ensures that betting outcomes are secure, verifiable, and tamper-proof.
Benefits for Betters and Bookmakers
Azuro's platform will offer benefits for both bettors and bookmakers. Betters will have trust that the outcome of the bet is fair, and that their winnings will be secure. Moreover, bookmakers will have a powerful tool to track and monitor all activities on their platform, providing full transparency between the two parties.
Unique Features of Azuro Protocol
The Azuro protocol will feature a number of unique features, including:
- Smart contracts: Smart contracts will enable bettors and bookmakers to set the terms and conditions of their wagers, eliminating the need for a third-party.
- Trustless wager system: The protocol will leverage blockchain technology to enable trustless, secure, and transparent betting.
- Betting analytics: Betting analytics will provide bookmakers with insights into their platform, allowing them to make data-driven decisions.
- Secure payment gateway: This payment gateway will allow both parties to securely transact.
Azuro is hoping to launch the decentralized betting protocol by the end of 2021. The startup is confident that the new protocol will revolutionize the betting industry, providing a trustless, secure, and transparent solution for bettors and bookmakers.