ZenSports Increases Liquidity with Launch of New Open API for Decentralized Sports Betting
ZenSports is a decentralized sports betting application that allows individuals to place wagers against each other without an intermediary or 3rd party getting involved. The beauty of ZenSports is that it is built atop of blockchain technology and utilizes it by its introduction of decentralized currencies to settle wagers independently of the house or a centralized bookmaker like in legacy sports betting.
Wednesday, 10 June, ZenSports made a major announcement to their community and those that love a little sports action. The company’s Co-Founder & CEO, Mark Thomas, announced that ZenSports is introducing a new open API that will enable companies outside of theirs to tap into the ZenSports ecosystem outside of their mobile app. This is huge news for the company and will increase the breadth of liquidity on games by the addition of other bookmakers utilizing their game-changing decentralized sports betting paradigm.
The announcement also gave details about the currencies that are supported in addition to the ZenSports utility token, SPORTS. The company’s entire product was extremely well thought out and is true threat to the legacy centralized bookmakers that still take a hefty percentage in fees. You can read the company’s white-paper on their site that details everything of importance. After reading the white-paper you can understand just how sophisticated the behind the scenes process is and how ZenSports made it so easy for bettors to place their wagers.
With an open API to ZenSports the sky is truly the limit for them. Decentralization in sports betting is a natural progression for a process that has traditionally been hampered by slow deposits, withdrawals and a litany of problems caused by centralization. ZenSports uses smart contracts atop of ICON blockchain to settle wagers and take action on games. ICON blockchain is a smart contract competitor to Ethereum that enables companies to launch on their proprietary chain. Bettors are able to create their own odds and games and also accept action on games that are already available in the ZenSports marketplace.
Developers that are interested in tapping into the open API can learn more here. Within that documentation are the following on API calls and features that developers can tap into: Funds and Transactions, Betting, Countries, Cryptocurrency Transactions, Fantasy Contests, Referral Bonuses, SPORTS Exchange, SPORTS Rewards Program, Sports Token API and Users.
The Open API feature will undoubtedly ramp up the amount of money flowing through the ZenSports ecosystem and over time will allow for larger bets to also take place. Companies that can’t currently handle a particular measure with their front-end infrastructure can now access the ZenSports back-end open API feature to onboard new users, set-up accounts, or access the ZenSports Referral Bonuses program to score some additional money.
As cryptocurrencies continue to grow in popularity the world over, decentralized sports wagering will continue to grow. Currently, ZenSports offers deposits in fiat or crypto and offers the ability to place wagers on 26 sports leagues throughout the world. With the ease of one tap betting on mobile, players can get their bets in anywhere at anytime and do it anonymously with decentralized blockchain settlement. The days of trudging to smoke filled casinos or dealing with centralized intermediaries that are subject to legacy banking as their only means to accept action are over. With ZenSports players can enjoy wagering on their favorite teams and games from the comfort of their own home or on the road with seamless deposits and withdrawals.
With the sports world shutting down for months because of covid-19, many players are eagerly ready for a return to the betting world. Some of the world’s premier leagues are now back to action and wagers are already being placed. Check out their Telegram link below and meet some likeminded people in the group. The future of money and business will be decentralized and ZenSports is at the forefront of bringing sports wagering to everyone P2p with blockchain technology in a more efficient manner.