Introduction

What is Betherance?

Betherance is a brand-new, decentralized social-betting platform powered by Proton blockchain technology. Proton is a new L1 blockchain that allows for secure instant transactions at zero cost between users. There are no gas fees on Proton. The world has evolved so much since Web 1.0. We have a multitude of new ways of connecting, shopping, sharing memories, and, with crypto, exchanging money. But when talking about betting, the system hasn’t changed much: centralized bookmakers, whether online or off, still control the action and set their own rules and betting lines. Universally, they always favor themselves. That’s where Betherance comes in. Empowering the betting community is what Betherance is all about. In short this is crowd-sourced betting on a trusted platform. It’s what bettors have been waiting for. With Betherance, the power of bookmakers is in the hands of users, or as we call it - betting governance. Betting governance is powered by smart contracts, trustable decentralized oracles and a governance token - the BETHER token. All users will be able to create and place their own custom bets making use of the Betherance Token and platform, with no middleman involved. Betherance incentivizes bet creators, bet sharers and bet validators to participate on the platform, rewarding them in a way that will build a self-sustainable ecosystem that will endure over time.

Welcome to dBetting 2.0, or DB for short.

Our mission

With Betherance, we want to build a platform that will revolutionize the way betting is done online.

Our core goals:

• Remove expensive and/or potentially untrustworthy middlemen from the betting process

• Give the power to create, share and validate bets directly to the betting community

• Make use of the fast and secure Proton Blockchain for transactions

• Create an easy-to-use and visually appealing application

• Expand the types of bets that can be done (As long as an outcome can be successfully validated on the platform, it can be bet on. The sky is the limit.)

• Build a self-sustainable betting ecosystem

This will be accomplished by making use of:

• Smart contracts: Bets will be secured on the Proton chain and decentralized with no middlemen or organized bookmaker involved.

• Betherance Oracles: Will allow users to create bets based on a range of categories, empowering the smart contract with automatic bet validation via a trusted network of bet validators called “oracles”.

• Betherance Validation Protocol (BVP): For all bets that cannot be validated via the oracle protocol, the BVP algorithm will empower the Betherance community to validate bets during a post-event validation period.

Why Proton?

During the early development stages of Betherance, our first smart contracts were built on the Ethereum blockchain, making use of the Solidity programming language. After some initial testing, we determined that the Ethereum blockchain was not going to fulfill our expectations in terms of performance and cost. The team started looking for a best-in-class alternative in order to develop the most secure decentralized betting platform on a Layer 1 blockchain.

We used four main criteria in our search:

• Security

• Lowest fees / No fees

• Fast / Instant transactions

• Ease of use / User friendly

Proton blockchain was by far one of the best options. Though it's a relatively new blockchain, we found that it already has a lot of great features, an engaged community and a good forward vision which aligns with ours. Incredibly fast, reliable, user-friendly, mobile-first, easy to use, readable usernames, community-driven, regulatory-compliant. Great. Along with a lot of potential to grow with even more innovative technology, Proton makes it, for us, the best choice.