UBET Sports solves onboarding issues for traditional sports bettors
UBET Sports is a decentralized sportsbook that wants to address pain points for traditional web2 bettors! Ironically, before we began, we faced a great onboarding challenge on the way to acquiring web2 sports bettors. Today, we officially solved the onboarding challenge for our users, and as far as we know, we are proud to say that we are the first on-chain sportsbook to resolve this problem.
The need for easy onboarding is extremely crucial and is an indispensable component of decentralized web3 applications! Anyone who is running truly or close to decentralized applications would empathize with this deep pain.
Previously, most of the decentralized applications were targeted towards web3 users. Today, we see projects that are built for web2 users. Let’s admit that the web3 market size is not comparable to the web2 market. Our goal was to target traditional sports bettors from the beginning.
We are not trying to daunt the industry. We did see great efforts on account abstraction from web3 builders since ERC-4337 came out, and this has been reflected in places such as ETH global hackathons. Moreover, thanks to the community effort from builders, we were able to implement social media onboarding and gas subsidization in the UBET platform.
So what’s this onboarding experience that we are bragging about?!
- You don’t need to set up a metamask, trust wallet, or other existing blockchain wallet to log into our platform.
- You don’t need to worry about paying the gas fee (a fee that you pay whenever you perform a transaction), we subsidize the gas fee for you!
If you are just coming to the web2 (traditional) industry, you will be confused. How hard can logging in be? Why do you need to pay a fee whenever you perform a transaction? What?! 😳
Unfortunately, this is/was the reality of using web3 applications. So far, this is as annoying and confusing as it can be. For example, you would need to set up a blockchain wallet to place a bet. Setting up a blockchain wallet requires manually setting up RPC (a bunch of technical parameters to configure) and purchasing native tokens that pay for blockchain usage. These are the things that make user experience throw away. Most of the non-technical users would give up using the platform.
It was critical for us to fix the onboarding issue for our users. We want a seamless experience as web2 but get the web3 benefits, that is we remove technical barriers and reduce the learning curve for digital ownership and identity for all our users. Now logging in is a single click through your Gmail, Twitter, Twitch, or Discord accounts. All the blockchain transaction fees (gas fees) are hidden and paid by us!
Does social login mean that it is centralized? NO. It is still DECENTRALIZED!
Please note that
- Our social login is NON-CUSTODIAL that only the user holds money and can permit the transaction
- We DO NOT store any of your wallet's private key information.
Keeping your information safe is super important to us. With social login (via Sequence), the wallet’s design doesn’t let us or anyone else get into it — only the owner can.
The only way of getting hacked is if someone gets into your email or social accounts and uses them to access your Sequence Wallet. So, it’s crucial to keep those accounts safe. Using 2FA, like adding an extra security step, is a really great way to make sure everything stays super secure.
How can I export my private key?
This question is specifically tied to how social login using Sequence Wallet works. Currently, the Sequence wallet does not have a private key and mitigates that by having the smart contract wallet hold the user’s assets. I.e., the assets are held by the smart contract itself; whereas, with traditional wallets, assets are held by a single private key.
The smart wallets associate the keys with the user’s social account (Gmail login or phone authentication) and recreate the private key automatically to log in to the user. The advantage of social login is that we completely remove the need to manage the private keys/ mnemonics and also seamless experience for the user.
Now, then the question is how vulnerable is the smart contract wallet, it must have a private key. The private key of the smart contract wallet is hidden by having a multi-signature design. Indeed, a Sequence smart wallet can be controlled by multiple keys instead of a single one.
It associates the multiple keys with the user’s social account (Gmail login or social media authentication) and recreates the private key automatically to log in to the user. This means that even if one key is compromised, you can’t access the smart contract key since you need multi-signature to access the wallet.
However, you can have a recovery key phrase that will allow you to access the wallet. According to the Sequence team, “We’re currently working on a feature to enable users to secure one of the private keys themselves, without needing to use social accounts login to access their Sequence Wallet. When using this feature, a backup key will also be generated and users will need to store them securely.”
We have talked to the Sequence team and were told that the recovery key and 2FA sign-in will be available early next year!
Now you can place a bet using social login with as simple as three clicks and don’t need to worry about setting up a blockchain wallet or paying blockchain transaction fees (gas fees).
Start betting now at UBET SPORTS
UBET SPORTS Reference:
Website: http://ubetsports.io/
Twitter: https://twitter.com/UBET__SPORTS
Discord: https://discord.gg/Za3wY4PvWU
Telegram: https://t.me/Ubetsports
