Basics

Wagerr is an open source blockchain. A blockchain can be thought of as a shared database, where many users run a seperate copy of the database and agree on how that database is updated by users.

Centralised database vs Distributed database

This creates a database that is secure, immutable and reliable with no central point of control or failure, the database operates in a peer-to-peer fashion. Further, it enables a native currency (WGR in our case) to be introduced as an incentive mechanism so that participants within the network behave in the best interest of the Wagerr blockchain. The benefits of this type of database lend itself uniquely to a betting protocol like Wagerr.

Private Keys

Private keys are similar to your banking login details, they are how you access your Wagerr coins. Commonly referred to as a 'seed' it is very important that you keep a copy of your seed/private key so that even if you lose access to your phone or your computer that you can still access your funds. You can read more about your private keys by learning about the different types of Wallets on Wagerr and how they create your private key.

One of the benefits of blockchain is that you are effectively your own bank. This means that you are in control of your own funds at all times. With Wagerr, this means that you do not need to request a withdrawal from your sportsbook or need to worry about whether your offshore book will still be around tomorrow. You are free to sell your WGR and 'cash out' at anytime. You are in complete control.

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