Today, THNDR has presented its latest innovation, Clinch– an API designed to enable instant, borderless, low-cost, peer-to-peer betting using the bitcoin Lightning Network, according to a press release sent to bitcoin Magazine. Recognizing the weaknesses of traditional competitive gaming platforms, such as high buy-ins, slow payouts, and regional restrictions, Clinch aims to redefine the competitive gaming landscape using bitcoin.
The launch of Clinch comes in response to the challenges faced by players, both casual and professional, in the traditional gaming space. High entry requirements, often requiring users to deposit $20 or more, have been a barrier to entry for many players, particularly those in emerging markets and developing regions. Clinch breaks these barriers by allowing users to place bets for as little as one satoshi, or 1/100,000,000 of a bitcoin.
Clinch is trying to transform the $95 billion online gambling market. The API opens up possibilities for partners, including online casinos, sportsbooks and competitive gaming platforms, to integrate high-frequency global betting without the limitations, high fees and slow processing associated with traditional gaming providers. This also serves as a monetization tool for game developers and other businesses navigating the ever-changing policies of app stores and development platforms.
To showcase Clinch’s capabilities, THNDR has introduced the feature to its portfolio of games, starting with the popular bitcoin-games”>bitcoin Club: Solitaire. Users can now place bitcoin bets on games like Solitaire vs. Friends, and funds are paid out instantly, thanks to the bitcoin Lightning Network.
Additionally, THNDR is collaborating with gaming and sports betting companies to expand Clinch’s suite of offerings, making high-frequency betting accessible on a broader scale.
While the initial launch is invite-only, users who want to experience unlimited betting can sign up to access the rolling waitlist. Developers interested in integrating the Clinch API can access the documentation and gain access here.