In a fireside chat with NEO London, the CEO of Block Sports, Tsering Redmond admitted to initially designing the exchange for the Ethereum platform but opting for Neo later on owing to its advantages.
“Ethereum doesn’t play very well with high transaction volume platform, so we were quite anxious about performance and how that would affect the user experience. When we investigated Neo it was a no-brainer for us. Apart from the enormous performance improvement offered by Neo, the development language capabilities were very attractive. Something we found after making the decision to switch to Neo was how incredible the community was. This was the icing on the cake,” said Redmond
The reaction to this news on Reddit seems to be in the favour of Block Sports switching over to NEO.
Apart from the reasons mentioned by Redmond, NEO offers Block Sports a theoretical blockchain performance of 10,000 transactions per second, the NEO stake, GAS generation token model and support for multiple development languages.
The Block Sports Exchange aims to resolve issues related to hacking and theft by eliminating points of failure by ‘creating decentralised and trusted framework’ and ‘providing a rich user experience through an off-chain service layer’. Due to these measures, Block Sports users will possess the ability to bypass a centralised bookkeeper and use cryptocurrency to place bets straight away with other users. On the other hand, Block Sports customers will also not have to deal with counterparty risk as it gets eliminated ‘through the decentralisation of critical architecture, removing administrative control over functionality which may impact user’s funds’. Both escrow and processing are therefore handled via the NEO blockchain. Another feature of Block Sports is that users are not required to register to utilise the platform and can bet using a wallet that contains GAS.