On Wednesday, the blockchain-based Monaco Protocol, dubbed “the world’s first decentralized sports betting protocol,” went live, offering “bettors fast, low-cost trades across a shared liquidity pool,” according to a press release.
Of particular note to industry observers is the fact that the BetDEX Exchange, a well-financed, crypto-centric sports betting venture featuring former FanDuel CEO Nigel Eccles as co-founder and chairman, is being launched on the Monaco Protocol, which, according to the same release, “will be fully decentralized, open-sourced and permissionless,” allowing “third parties to build their own applications and innovate on top of the platform.”
The key words here are “open-sourced” and “permissionless,” meaning anyone, be it Joe Six-Buck or a major mobile sportsbook, is free to access the code available on the protocol – including that authored by BetDEX.
