1×2 Coin: New Age Sports Betting

Project Reviews / 21.06.2019

‘Luck is what happens, when preparation meets opportunity.’ ~Seneca (ca. 4 BC – 65 AD; Roman philosopher, dramatist, and writer)

Sports have always been an integral part of human evolution, and still have a great impact in our lifestyle. People love to be involved in sports as a player or as a fan and cheer their favorite team or player. Along with it, millions of people love to place wagers on these sporting events. Sports betting have existed since ages, dating back to Roman days where bets used to be placed on chariot races and circus games. The sportsbook industry gradually expanded to horse racing, football, tennis, formula 1, basketball etc through book makers. The betting industry then subsequently spread across the globe with the advent of internet and today it has evolved into a $100+ billion industry. The industry is growing rapidly and is expected to cross $150 billion within next 5 years. 

The next wave of evolution coming up in the sports betting domain is the use of blockchain technology. While still at a very nascent stage of growth, blockchain sports betting projects are exhibiting the right tools and mechanisms to bring on board a better user experience and inclusion of more people into the industry. Today we will talk about one such emerging blockchain project: 1x2coin, which is shaping up as a great sports betting platform. Recently went live, the project is focused on sports betting with a wide array of sportsbook being live for Soccer, Tennis, Basketball, Boxing, E-Sports, Volleyball, Badminton, Futsal, Martial Arts, Rugby, and Table Tennis. Moreover, 1x2coin team has created a native coin of its own –1X2Coin, which acts as the underlying asset of the complete platform.

How Does 1×2 Project Stand Out

First and foremost, 1x2Coin has a fully functional top notch platform: 1X2SportsBook that provides the following benefits and perks, which we feel will make people transition to this platform at a rapid pace:

●      Fast deposits and withdrawals:  The main advantage of 1x2coin over traditional /online betting portals is that blockchain technology ensures transactions are much quicker, usually instant withdrawals and deposits. It is a significant factor for players who are worried about the safety of their funds. In major traditional online platforms, withdrawals usually last from 24 to 72 hours, and in less known sites, they might last from a few days, in some cases even a few months.

●      Low cost and Global transactions: Sports betting has fans following spread across the globe. However, the industry faces challenges of varies regulations and compliance criteria which hinders global participation. Furthermore, the cost is high when these transactions must be routed through centralized banks, even for online platforms. 1x2coin’s platform allows people across the globe to participate and the transaction fee is negligible, thus making the platform available on same terms to people even in the remotest part of the planet.

●      Transparency: 1x2coin uses automated mechanism for every bet/game that is transparently available on the blockchain to track. This can be at any time analyzed and verified for fairness on the part of the service operator.

●      Ease of Usage: Unlike complicated registration and KYC process of traditional platforms, the 1x2coin platform is super easy and just needs an e-mail ID to register. This opens up the domain to even the unbanked population and allows participation of a greater audience. A great step for a true decentralized economy where people gets to choose where and how they want to use their money.

●      Experienced Bookmaking: Sportsbook making is a tedious and complicated process and requires high real time data of events happening across the globe. To run a platform where the live bets change along with the change of events happening across the global sporting community requires a very robust system. 1x2Coin experienced in-house bookmaker team and partners ensure the platform provides real time bets, thus making the betting activity in sync with the real developments in the games.

●      Wide range of live sportsbook: As mentioned earlier the platform provides live bets for Soccer, Tennis, Basketball, Boxing, E-Sports, Volleyball, Badminton, Futsal, Martial Arts, Rugby, and Table Tennis. This covers a majority of global sporting events and thus caters to the betting needs of a huge population, which may have interest in different sports. The offerings are continuously expanding, and further categories are expected to go live on the platform in future.

1x2Coin Tech Specs

 1X2COIN is based on Proof of Stake (PoS) consensus protocol. In simple terms, the mining/transaction verification is done based on the resource held, i.e. 1×2 Coins. While the PoS Vs PoW debate continues, PoS protocol has lots of benefits, as it reduces the risks of double spend or Distributed Denial of service attacks- the cost to conduct such attacks are comparatively much higher. With Masternodes spread across the globe, the transactions for 1x2Coin are lightning fast while the security is strengthened even further.

The reward masternode:POS ratio generated starts at 4:1 and peaks at 19:1 towards the end, the current ROI for masternode stands at an amazing approx 285% while for POS on wallet is approx 70%. Early adopters and investors surely end up gaining more. Currently, there are 1821 masternodes active and the average time to generate a block is of about 60 seconds. 1X2Coin blockchain follows a bell-curve reward structure where the rewards are less at initial and later stage and peaks at the center. Masternode set-up requires a collateral of 1000 1X2COIN, while to generate POS rewards, you just need to simply store them into a supported wallet.

The total supply of 1X2COIN coin stands at 21 millionthe current supply in the market is 2.51 million. The distribution ratio is as per the pre-defined mining grid. Only 0.85% of the overall supply was pre-mined for initial set-up process inclusive of the team developer budget. This adds onto the credibility of the project as 99.15% of the supply is up for community to mine and leverage the growth. 1X2COIN is currently trading at a price point of $0.12 and is available on exchanges Cryptobridge, CoinExchange and FinexBox. As per CoinGecko data, at the time of writing, 1X2coin current price of is $0.1. Being a new coin, with a very low supply there is enough space for the team to grow here, provided they continue delivering their commitment and increase the marketing effort to ensure the awareness about their offering is spread far out.

Future Developments

1x2Coin team is constantly working at the backend to enhance user experience; here are a few things in store, which will make the future much more exciting and fun:

  • More Sportsbook categories.
  • Live Streaming of games.
  • Online Casino.
  • Better Mobile interface.
  • Live dealers for interactive online gambling.
  • Accepting other coins on the platform.

Closing Thoughts

The Sportsbook industry is all set to undergo an evolution where a massive trend change happens. Robust projects like 1x2Coin are well poised to leverage this change and become a game changer. Mass Adoption will be one of the critical parameters that the project needs to work upon and if it were achieved, all the entities involved would end up gaining exponentially for their vision and effort. May the best team win!

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Debasish Das is from India, an engineering graduate and holds a postgraduate degree in management. He has 10 years of experience in the financial sector, having worked for one of the biggest MNC banking groups in the country. Currently he has business in e-commerce, insurance and consultancy. As an avid blockchain and cryptocurrency enthusiasts he believes in investing in the future of technology, and feels this is going to make the world a single marketplace and also give the power from centralized banks and governments back to people.