SportX has partnered with Matic to scale decentralized sports betting
SportX is excited to announce it’s partnership with Matic. Our engineering team has been actively researching different Layer 2 scaling solutions over the past couple of months, and today we’re happy to announce that Matic was the chosen solution.
Given the escalating gas prices of Ethereum, a Layer 2 scaling solution was necessary to provide the best user experience to bettors. Moving forward, bettors can expect significantly lower gas costs and in turn, much lower minimum bet sizes (we’ve since re-lowered the minimum bet to $5!).
Matic network is a dramatic improvement on blockchain scalability thanks to it’s innovative hybrid Plasma and Proof-of-Stake Layer 2 blockchain network. Matic currently scales up to 10,000 transactions per second, with two second block times and finality on the main chain, with an average transaction cost less than a fraction of a penny.
What does Matic mean for our bettors?
1) Reduced Minimum Bet Sizes
Due to the elimination of gas costs, we are able to offer much smaller bet sizes, allowing bettors to try out SportX with a smaller amount of capital.
2) Faster Bet Settlement
Bets are settled and paid out much faster now on Matic versus Ethereum, due to the faster block times of Matic. Gone are the days of waiting 30 minutes for a bet to be paid out; expect settlement within 10 minutes!
3) Live Betting
Matic provides the necessary infrastructure for SportX to scale into new features like live in-game betting. We will have more info on this upcoming feature very soon!
SportX is the world’s first regulated non-custodial sports betting exchange. Built on the Ethereum blockchain, SportX provide bettors with unparalleled control, transparency, and fairness. It’s also home to the SportX World Tour, where bettors compete to win large prize pools.