🏭How does BetDEX utilise blockchain tech?

The BetDEX Exchange's fundamentals are built on the Solana blockchain. We have built a unique, hybrid system that reaps the benefit of a Solana-based, transparent, on-chain wallet for all funding, combined with off-chain, API-based matching algorithm and orderbook built to provide you the fastest & slickest betting experience in the industry.

What does this mean for me?

Let's break this down by some simple steps:

1. Signing up to BetDEX

   1. When you sign up to BetDEX, we provide you with a Solana-based wallet for you. This wallet is yours and can be used to fund & withdraw from.

2. Funding

   1. When you are ready to deposit, or when you want to withdraw, all funding go in and out of the Solana-based blockchain wallet. This means you can see exactly where your funds are moving at all times.

3. Placing a bet

   1. Betting is done off-chain, via a simple REST API call.

      1. If you do this via the website, then we make the call on your behalf.

      2. If you do this via your own API key, then you are making the call directly yourself.

   2. The BetDEX Exchange then processes the bet with lightning quick speed.

   3. Orders are programmatically matched with one another in FIFO (first in, first out), best price execution manner.

   4. This means that back orders will be matched using the highest available odds and lay orders will be matched at the lowest available odds. Orders that were placed first are first to be matched (at that given price).

4. Market creation & Settlement

   1. All markets are created & managed off-chain. This allows us to process your bets in lightning quick time, as well as allowing us to offer you as many markets as you could ever want!