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Blockchain Will Redefine How We Bet on Sports

Sports are a passion adored universally. Whether your interests lie in watching or playing, almost everyone finds a sport they’ve taken a liking to. Whether you prefer to partake in soccer or Rocket League, sports represents a prime source of entertainment that unites us as people and engages groups from all over in friendly competition.

And like other pastimes, many similarly find enjoyment in placing wagers while they root for their favorite teams and players. A good bet can heighten the excitement associated with a match and give participants even more incentive to jump up and shout in support of their players.

But let’s face it: sports betting isn’t want it should be, and it isn’t what it could be. Betting online is often associated with jumping through a series of hoops, and can sometimes end up with money deposited to a site that doesn’t have the means or desire to honor its payouts. Even if you end up on an otherwise legitimate site, you are boxed into just a specific set of bets to participate in, and you’re always at a loss versus the rake the site keeps on every betting pair.

Of course, you can go about it the old fashioned way and bet casually with your friends. That can cause issues too- if you like to root for the hometown, chances are none of your pals are willing to take the other half of your bet. Similarly to shady sites, you could end up winning against a friend that seems to “forget” to pay you every time you see them.

Enter Blockchain

Fortunately, smart contracts powered by blockchain technology can completely redesign the manner through which sports betting takes place. Rather than relying on a middleman, bettors can interact directly with one another trustlessly through the help of these contracts. This system for betting remains entirely transparent and there is no possibility of cheating or other fraudulent behavior.

ZenSports is applying these contracts to their mobile betting applications. Built upon the ICON blockchain, this project will offer a massively scalable ecosystem where users can place and take any kind of bet, on any sport imaginable, anywhere in the world. Activity on the platform will be done via its own SPORT token. Rather than betting fees being collected by a middleman, these fees will be redistributed directly to SPORT holders.

The public token sale begins on December 1st, and will run until January 5th of next year. The sale is divided into four lots of SPORT with increasing prices. Initially, SPORT will be sold in the public sale at a rate of US$0.0024 worth of ICX. By the end of the sale, that number will have increased significantly to $0.006.

Smart contract functionalities for the project are slated for release in Quarter 1 of next year. As such, ZenSports represents a pioneer in the application of smart contracts to sports betting. To stay up to date on the development and token sale, check out the project’s Telegram and follow them on Twitter!

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research.

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Key Highlights Ripple price seems to be struggling to clear the $0.3100 resistance area against the US dollar. There is a key bearish trend line formed with resistance at $0.3025 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could decline heavily if there is a break below the $0.2900 and $0.2880 supports. Ripple price is under pressure against the US Dollar and Bitcoin. XRP/USD failed to move past $0.3100 and now it could decline further towards $0.2650. Ripple Price Analysis There was a decent base formed near $0.2920 in ripple price against the US Dollar. The XRP/USD pair traded higher and broke the $0.3000 resistance area. However, buyers struggled to clear the $0.3090-0.3100 resistance. As a result, the price declined below $0.3020 and the 100 hourly simple moving average. The price retested the $0.2920 support area, which is currently protecting further losses. An initial resistance is the $0.3000 level and the 23.6% Fib retracement level of the recent decline from the $.3090 high to $0.2924 low. The stated $0.3000 level also coincides with the 100 hourly SMA. Above $0.3000, there is a key bearish trend line formed with resistance at $0.3025 on the hourly chart of the XRP/USD pair. The trend line coincides with the 61.8% Fib retracement level of the recent decline from the $.3090 high to $0.2924 low. Therefore, the price is likely to struggle near $0.3000 and $0.3020 if it corrects higher. Above $0.3020, the next key resistance is at $0.3090-0.3100. Looking at the chart, ripple price remains at a risk of a sharp decline if there is a break below the $0.2900-0.2880 support area. The next main support below $0.2800 is near the $0.2650 level where buyers may emerge. Looking at the technical indicators: Hourly MACD – The MACD for XRP/USD is slightly placed in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently well below the 50 level. Major Support Level – $0.2900 Major Resistance Level – $0.3020 The post Ripple Price Analysis: Break Below $0.2900 Could Speed Up XRP Losses appeared first on NewsBTC.

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