Chipz Stakes Platform Mixes Online Gambling & Smart Contracts
Chipz Stakes Platform Mixes Online Gambling & Smart Contracts: Cryptocurrency has gone from an underground concept to a mainstream financial exchange in the past few years. The iGaming industry has utilized this momentum to benefit players looking to test their luck with online gambling.
However, most bookmakers are not blockchain experts, but companies are attempting to master the two industries. One platform that is establishing itself in the betting and cryptocurrency industries is Chipz Stakes.
Chipz Stakes is scheduled to launch a sports betting platform that will allow users to create their own sportsbooks. The sportsbook operator can post wagers on their platform, and all slips will be held through Chipz Smart Contracts.
Overview of Chipz Stakes
Chipz was constructed on the Ethereum blockchain through CHPZ tokens. The platform holds the CHPZ tokens that are wagered on the respective sportsbooks across the network. Chipz controlling the tokens means that a bookmaker is guaranteed the operator or bettors receive their money depending on the outcome of the stake.
The first version of Chipz will only allow bookmakers to post wagers that are compatible with the company. Chipz has an events feed through oracles, so bookmakers are limited.
However, Chipz is already working on a future version of the service where bookmakers can add a multitude of stakes outside of the oracle feed.
Chipz Step by Step
Chipz is revolutionizing the sports betting industry. The site has a great process to make sure the betting process is smooth with the technology.
The first step with Chipz is when the oracle gathers the data on sporting events from around the world. After the information is collected, it’s displayed on the blockchain. If you are CHPZ token holder, you can become a bookmaker for a specific market on the blockchain.
Chipz makes money because the bookmaker must pay a platform fee in CHPZ to post a bet. As a bookmaker, you can post the ideal fee for your bet and the number of bidders you are willing to accept.
Once a bettor accepts the wager, their CHPZ are held by Chipz, and the platform calculates every person’s stake if the bet hits. After the event concludes, the Chipz Smart Contract will disperse money to the bookmaker and winning bettors.
How to Access Chipz
Chipz will not require users to provide their personal information to utilize the platform. This is the foundation of cryptocurrency, but many exchanges have started requiring data. CHPZ holders must have an ERC-20 wallet to hold the tokens.
Chipz will release 50,000,000 CHPZ initially, and the company believes it will max out at 100,000,000 CHPZ. A CHPZ presale began on June 11, and 15,000,000 tokens were released for public offering at $0.03/CHPZ on Bounce.
On August 6, Chipz will release 10,000,000 CHPZ on Uniswap beginning at 6:00 PM UTC. The price will be slightly higher than the presale at $0.05/CHPZ. An early token holder will receive exclusive privileges on the platform.
These platforms include earning a bookmaker ranking, being verified, and listing wagers on the blockchain.