Business

BetProtocol Partners with Band Protocol for Esports & Sports Betting Data Oracles

Justin Wu
August 6, 2020

We are thrilled to announce that Band Protocol will be the launch partner for our upcoming esports release, providing secure and reliable data to all future BetProtocol Esports and Sports operators. Both teams have collaborated to create a data oracle for Counter-Strike: Global Offensive (CSGO) which connects to Pandascore, one of the top premium API providers for Esports data.

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How it works

This partnership will enable Band Protocol to provide decentralised data in our ever expanding network, abstracting away from using centralized oracles that are susceptible to manipulation and incorrect results submission. Decentralization of data is critical to redundancy and accuracy of event resolution metrics, especially when it comes to powering a new multi-billion dollar, regulated blockchain-gaming industry.

By utilising Band Protocol’s BandChain and their decentralised oracle scripts, BetProtocol can further add value and security guarantees to our growing network of operator clients. Additionally, this integration has allowed BetProtocol to consistently adapt to market needs and improve speed to market for future releases as creating further custom oracle scripts on BandChain is seamless and permissionless.

Launch your own Esports betting app today!

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BandChain oracle script via Pandascore

BetProtocol and Band Protocol are collaborating on:

  1. Decentralised oracles for Esports and Sports data
  2. An upcoming Esports webinar (over 11,000 sign-ups already!)
  3. A Proof of Concept featuring one of both teams’ favorite Esports games: Counter-Strike Global Offensive (CSGO)

Both teams are currently undergoing phases of testing, once completed additional oracle scripts connecting to more premium Esports API providers such as Abios Gaming will be created to enhance security guarantees and resistance to manipulation for all BetProtocol operators. Starting with CSGO, Band oracles will soon be used to support League of Legends, Dota 2, and Overwatch data feeds.

Decentralised Oracles

Data decentralisation is key in having a reliable, on-chain betting system. Smart contracts are only as smart as the data they get to perform actions. Otherwise they are entirely dependent on their coding. With data feeds from the real world, whole suites of security risks present themselves if such data only flows from one source.

Band Protocol allows BetProtocol to resolve its betting markets in Esports and Sports book with data sourced from multiple validators. Each validator is incentivised to provide accurate data from the BandChain to BetProtocol, which helps us resolve markets in a fast and robust manner to improve the operator and user experience.

Check Band Protocol’s post for more detailed info!

Esports Webinar

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Click here to sign up!

BetProtocol and Band Protocol are teaming up for our first ever Esports betting webinar, totally free to join! It’ll take place on July 22nd, at 15:00 UTC+1.

In it you’ll learn the ins and outs of this new betting paradigm that is growing at double digits year over year!

Plus BetProtocol will give away $1,000 worth of BEPRO to one lucky participant.

CS:GO Proof of Concept

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It’s no secret that both teams are fans of CSGO. One of our founders has been playing Counter-Strike (not professionally) since 1.4! That’s a long time.

The teams initially bonded over our love of Esports and competitive games, and how blockchain tech can and will revolutionise this industry. In this vein, we are teaming up to plan a CSGO friendly match in the future, and who knows, maybe a BetProtocol operator can provide a betting market for it!

As for the tech, the two teams plan on collaborating on an initial proof of concept for CSGO betting completely on-chain, where players bet against each other peer-to-peer. This type of “betting exchange” would allow users to lay and back bets on Esports matches directly with each other.

Stay tuned, and see you at our Esports Webinar!

About Band Protocol

“Band Protocol supports all smart contract platforms and any type of decentralized application ranging from DeFi, gaming, prediction, betting and more. We are proud to work alongside BetProtocol to secure the rapidly growing decentralized betting industry by providing smart contracts accessibility into various niche data sources in a scalable, trustless and reliable manner. Starting with Esports data, Band Protocol will expand support into all types of sports data and betting markets.”

Soravis Srinawakoon, CEO & Co-Founder of Band Protocol

Band Protocol is a cross-chain data oracle platform that aggregates and connects real-world data and APIs to smart contracts. Blockchains are great at immutable storage and deterministic, verifiable computations — however, they cannot securely access data available outside the blockchain networks. Band Protocol enables smart contract applications such as DeFi, prediction markets, and games to be built on-chain without relying on the single point of failure of a centralized oracle. Band Protocol is backed by a strong network of stakeholders including Sequoia Capital, one of the top venture capital firms in the world, and the leading cryptocurrency exchange, Binance.

Website | Whitepaper | Telegram | Medium | Twitter | Reddit | Github

About BetProtocol

“BetProtocol is thrilled to partner with Band Protocol on the upcoming launch of our long-anticipated Esports Betting technology. Our long term goal is to facilitate the decentralization of betting markets. This partnership goes a long way to enhancing the options our operators have to receive and utilize Esports and sports data, across a wide array of use cases.”

Rui Teixeira, CEO and Co-Founder of BetProtocol

BetProtocol enables you to create and manage online gaming platforms with no coding required. Thanks to BetProtocol’s blockchain technology, these platforms are secure, scalable and regulatory compliant. No need for expensive developer teams. We provide a fully customisable white label solution for crypto-enabled online casinos, Esports betting apps, sports books, slots, and more.

Website | Whitepaper | Telegram | Medium

Justin Wu
Justin Wu, COO & Co-Founder of BetProtocol.

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