Digitex

Meet the New Digitex: Revolutionizing Decentralized Gambling

Adam Todd

September 17, 2023

Digitex is not just another blockchain project. It's a revolutionary platform designed to bring the thrill and convenience of centralized casinos to the world of decentralized gambling. In a world where paying gas fees just to place a bet has become the norm, Digitex is here to change the game. With a vision of combining the best of both worlds - the safety and security of non-custodial betting with the superior user experience of centralized casinos - Digitex is set to redefine the gambling industry.

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The User Experience Challenge in Decentralized Casinos


Decentralized casinos offer several advantages, such as transparency and security, but they come with a significant user experience challenge. For newcomers to Web3 technology, the process of onboarding can be confusing, as it requires the use of a cryptocurrency wallet. 

Bet submission involves multiple clicks and blockchain transaction confirmations, leading to a cumbersome and time-consuming process. Game results and bet confirmations can take an eternity, and to make matters worse, every bet incurs additional costs in the form of gas fees.

When these gas fees range from $0.35 to $0.75 per bet, it becomes nearly impossible for the average bettor to win. This cost structure eliminates any benefits gained from retaining custody of your funds. Unless you're a high roller, decentralized casinos can feel like an uphill battle with the odds stacked against you.

Digitex: The Best of Both Worlds


Digitex recognizes the need for change in the decentralized betting landscape. It aims to combine the safety and security of non-custodial, on-chain betting with the exceptional user experience of centralized casinos. At Digitex, players will soon be able to enjoy:

  • Email-Only Signup with Background Wallet Generation: Digitex has partnered with Magic.link to offer email-only signup, making it easy for new users to get started without the need for a password. In the background, a cryptocurrency wallet is created, ensuring a seamless onboarding process.
  • One-Click Bet Submission with Instant Confirmation: Placing bets on Digitex is a breeze, with one-click bet submission and instant bet confirmation. Say goodbye to the multi-step confirmations of traditional blockchain transactions.
  • Zero Transaction Fees on Bet Placement (Gas-Less Transactions): Unlike many other platforms, Digitex charges zero gas fees for bet placement. Your bets don't cost you anything extra, making it accessible to all players.
While email-only signup and one-click bet submission are facilitated through the Magic wallet, Digitex will still offer the option for crypto enthusiasts to connect their existing Metamask wallets and manually confirm transactions. 

The Digitex Blockchain: Fast, Low-Cost, and Game-Changing


To achieve this remarkable user experience, Digitex is developing its own blockchain, optimized for betting games. With near-instant transaction finality and 250ms block times, the Digitex blockchain is custom-built for high-speed gaming with multi-faceted mechanics and betting options.  

Transaction fees on this blockchain are remarkably low, averaging between one fifth to one twentieth of a cent.

Digitex takes it a step further by subsidizing players' gas costs—creating a zero gas fee experience for all users. 

This means that players don't need to pay to place bets, removing a significant barrier for smaller stakes players. The result is a richer and more engaging betting experience that appeals to a broader audience.

Safe, Secure, and Non-Custodial


Digitex maintains a strict non-custodial approach, ensuring that they never hold your funds. Even when you place bets, your tokens are sent directly to their game smart contracts on the Digitex blockchain, which automatically pay out if you win. The process of placing bets involves bridging tokens to the Digitex Layer 3 blockchain using their decentralized bridge, which is also non-custodial.

Players can keep track of their token balances across three different chains in their wallet area, ensuring transparency and control over their funds.

Faster Games, More Betting Opportunities


Decentralized casinos have traditionally offered slow-paced games with limited betting options due to on-chain transactions. However, Digitex is changing the game with its blazing-fast blockchain. With instant game results and bet confirmations, players can enjoy fast-paced games with multiple betting opportunities. 

Unlike other platforms, Digitex allows players to place multiple bets of any size at various points in the game, creating a dynamic and engaging gambling experience.

True Randomness and Fairness


Digitex Games uses the services of random.org to generate truly random numbers derived from atmospheric noise caused by thunderstorms. These "true random" numbers are non-deterministic and impossible to predict or reproduce. To ensure transparency, Digitex posts each random number on-chain through a blockchain transaction, demonstrating that the results are genuine and free from interference. 

Fee Structure


Digitex offers an attractive fee structure for its users:
  • Zero gas fees on all bet transactions
  • Zero fees on winnings when betting with DGTX tokens
  • Zero house edge in game payout odds
  • 3% fees on winnings when betting with ETH, USDC, USDT, or ARB tokens
  • Rebates on your fees from winnings if you hold the Digitex High Rollers Club NFT
For DGTX token users, Digitex is the only casino where you can gamble without any edge working against you. The 3% fee on other token winnings is distributed among various platform participants, including liquidity providers, game developers, affiliate marketers, and validators. Part of these fees is also used to systematically buy back DGTX tokens from the market and burn them.

No KYC, Full Anonymity


Digitex prides itself on being a non-custodial betting platform with no KYC requirements. Players can enjoy full anonymity without needing to register or provide personal details. You retain complete custody and control of your balance at all times, eliminating the risk of funds being held or stolen.

Every action on Digitex is recorded as an immutable transaction on a public blockchain, ensuring the highest level of security and transparency. With Digitex, the future of decentralized betting is brighter and more user-friendly than ever before.

Exciting Updates on the Horizon


In Q4 2023, we're planning to release the Digitex blockchain testnet along with our first game, a significant milestone in our journey to revolutionize the world of online gambling. As we continue to innovate and evolve, we greatly appreciate your ongoing support.

If you're eager to join the conversation and be part of our vibrant community, don't hesitate to join our Telegram community. Together, we're shaping the future of decentralized gambling and creating a platform that's accessible, exciting, and fair for all.  

ABOUT THE AUTHOR

HMFIC at Digitex

Adam Todd

I'm the lead developer at Digitex, a decentralized casino and Layer 3 blockchain aiming to revolutionize online gambling.

With zero gas fees to place bets, Digitex will open up decentralized gambling to players of all sizes. And if you bet with DGTX tokens, you pay zero fees on your winnings.

And on the subject of betting - don't bet against the guy who just keeps showing up :)