Greetings to all significant crypto community! The rates industry has a significant share in the total share of the global financial market. Many will probably agree with me that every person’s blood is in excitement and many bookmakers use this weakness to us. The current centralized models of betting companies are rather doubtful and closed to users. Most of the information on the work of such companies is closed to users, this includes the construction of coefficients, the Random Number Generator, the mechanisms for the withdrawal of earned funds, the general financial activity of companies. In addition, with a centralized model, there is a risk of blocking users by the company and loss of financial resources that go into the account. But, nevertheless, interest in the betting industry is increasing every year. The development of blockchain technology of course in this regard can significantly change this industry and make it more attractive to users.
Consider a startup Betbox. Betbox is a decentralized, open source event betting application built on the Etherium blockchain. The decentralized model provides an open construction of the coefficients, as well as the rapid and fair distribution of funds without delay. Also, users in the application will have access to voting functions in the event of disputes, which directly indicates that users are of paramount importance on the platform.
In order to expand the scalability of the ecosystem and the possibility of further competition with centralized models, the application will deploy an EVM side chain with a consensus of POA and distributed nodes, which will provide fast network bandwidth and quick confirmation of all operations.
Functions that will be deployed in Betbox:
- individual rates;
- private P2P.
The main advantage of Betbox is the ability to set bets between two or more users on a peer-to-peer basis, with the setting of the bet and an individual consensus calculation. Here it is possible to configure and connect the following options: Russian Roulette, Shoot-Out, Crypto Raiiy (ERC-721 interaction), Rich Me and many others.
Betbox will be available to users in the web version, as well as an application for Android and IOS clients.
Token value and token-sale.
The Betbox ecosystem will have its own OX token, which will be used as a means of payment and as a betting currency for obtaining the Proof of Authority distributed network. In order to increase the value of the token and reduce inflation, some of the tokens of users can be burned in exchange for ETH.
ICO details and token sales.
Token symbol: OX
Marker Standard: ERC-20
1 OX = 0.0004 ETH (discounts are available on purchase)
Soft Cap = 4,000 ETH
Hard Cap = 32,000 ETH
Accepted Payments - ETH
Today, the private sales stage is underway, the beginning of the public sales stage will be announced later. We will follow.
According to the information posted on the Roadmap, the launch of the beta version on Android and IOS is scheduled for Q1 2019, but due to the downward trend of the overall market, the deadlines may be shifted. Well, let's see!
Well, to summarize, I’ll say that the project is interesting to me personally, since I’m a passionate person and I often make bets, mainly on sports and I really know the problems of this industry, in particular, there have been cases of blocking my accounts and large amounts of winnings. If the project really creates everything that it has planned, then it will be interesting to many players. But here a big role will be assigned to the marketing company of the project.
The information presented in the article is purely research in nature and is not an incentive for your investments. Make informed decisions based on your own analysis and experience.
Links for information:
Web site
https://betbox.app/
Technical paper
https://betbox.app/required/lightpaper-v1-betbox-decentralized-betting-app.pdf
Telegram
https://t.me/betboxGlobal
Twitter
https://twitter.com/@betbox_OX
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My beta.bounty0x profile is ivanzabolotin
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My MEW is 0x04Dc948863fE21b097b8752b115a1318a2a1952c