About Goal Star
Goal Star Official Whitepaper - Updated: January 2nd 2023
Goal Star is a sports tournament platform combining the excitement of betting with the benefits of decentralized finance (DeFi) through the use of non-fungible tokens (NFTs). The platform allows users to compete against other players by placing bets on several sports events and potentially winning a share of the final prize pool.
Traditional betting platforms have several drawbacks that make them less transparent, reliable, and fair for users:
- Centralization: Traditional betting platforms lack transparency, as they do not provide proof of their holdings or clearly show how they handle customer funds.
- Dealer Advantage: The odds offered by traditional betting platforms are biased in favor of the dealer, further increasing the dealer's advantage and reducing the chances of users winning. This leads to a less enjoyable and fair user experience on these platforms.
- Position Restrictions: Traditional betting platforms are subject to local laws and regulations, limiting their availability and restricting users' access in certain locations. This makes it difficult or impossible for users in specific countries to participate.
The decentralized design of the platform ensures a fair and transparent environment for players to bet on their favorite sports. All transactions are recorded on the blockchain, allowing users to see exactly where their funds are going and ensuring that no one can cheat the system.
The Goal Star platform does not need licenses since players do not have to place bets with money. Additionally, users are not required to submit KYC (Know Your Customer) information, such as ID cards or passports, allowing them to maintain their privacy and freedom while participating in the tournaments.