Betbox your gateway to social challenges, lambo raffles and priceless entertainment. Betbox is getting spiced up with the voice of the people. Many events need a bullet-proof decision-making tool, that why i'm introducing BetBox to you all.
THE GAMBLING INDUSTRY
The gambling industry is keep growing and I could say that this is one of the good area to integrate cryptocurrency and blockchain to a more success development. The gambling industry is booming, and its only a matter of time before its totally coupled with cryptocurrency payment systems and decentralized models. BetBox from its name can easily be guess as a platform that relates to gambling. Yes it is, the platform is made to become a gambling currency that caters the need of betters and developers that will benefited them for their products and bet. How? Their platform designed for interconnection with other gambling platform either blockchain gamble or normal gambling platform.
INTRODUCTION
Betbox which simply called the OX was develop on the state of the act facilities which align it platform to a first world class standard gambling platform which create rooms for all parties in the gambling industry to utilizes betting for entertainment and making profiting. Betbox is a fully decentralized ecosystem acting in various DApps with the assignment to provide a fully transparent, fair and yet challenging environment for people with a passion for gambling and a sense for competition
BetBox ecosystem consists of several parties. Every parties below, act to fulfill or achieve their own purpose (gain profits) but as a whole ecosystem, they're the one who makes sure that the ecosystem keeps running as intended. These are the parties in BetBox ecosystem.
Live Feed: Decide what activity you want to see and customize your feed according to your preferences. With this feature you always see which bet is going crazy and maybe also peak on your friends challenges
Block Producers: As the name suggests, this is the one who's responsible to create and verify block and provide the required network resources (nodes, blockchain copy). For their participation and contribution (as long as they're following the consensus rules) they'll be rewarded with OX coins.
Individual Bets
Create individual bets for you and your friends or in public and become the king over betbox. All bets can be placed in cryptocurrencies and soon also in FIAT.
Alpha: Alpha UI is like a dApps on Ethereum blockchain. Decentralised app is a gamble built and run on top of BetBox blockchain. This is what is developed by developers and bet by users. Alpha will utilize tokens that are minted or produced by the developers (the name, details or properties is designed by the developers just like any other tokens).
Personal Challenges: Set up crazy challenges and get 10% of the jackpot as a reward for the achievement. Everyone can predict if you can hold your word with a bet on or against you.
THE MERGING OF BLOCKCHAIN IN GAMBLING
The merging of blockchain technology in gambling section signifies a great modern advancement on our industries. Innovations in the field of blockchain gambling have pushed the limits of non-fungible assets and are poised to keep supplying novel developments in other areas like scalability. On what aspect actually does blockchain tech helps the gamblers out there? Blockchains provide and create helpful tools for gamblers such as decentralized asset exchanges, fast and secure payment networks, and opportunity for developers to properly monetize their creations which we are enjoying.
BetBox will use blockchain technology to provide a solution to recent challenges in betting industry because it promotes transparency in the gamble because it prevents in-game manipulation, which maintains its value. Blockchain technology will build trust relationships between gamble developers and users that produce ecosystems where each stakeholder benefits.
BETBOX SMART CONTRACTS
Betbox smart contracts are devel-oped to reimburse 20% of the commissions (ETH) taken by the company for betting, every quarter of the year to volunteering parties in return for tokens to moderate the inflation of OX.
However, blockchain technology eliminates intermediaries in transactions between gambling developers and players/users, therefore transaction costs will be much lower . Removal of intermediaries also means that accumulated profits from buying and trading in-gamble items will only be shared between developers and users.
HOW DOES THE BLOCKCHAIN PLATFORM APPLY TO OX?
The OX currency plays the role of a key currency that performs different gamble currencies. The release of OX coin as the ‘main coin’ for each game card makes it easy for players to control their betting and can play any type of game on the system. BetBox is a blockchain based platform for the gamblers world, betbox has developed with the latest technology to provide a more enjoyable game than before, it is intended to form a network, mainnet is strong and can accommodate more users.
THE BETBOX WALLET
The OX wallet is well secure wallet that cannot be hacked. This remove eliminates excessively charges that most of the existing platform charge their player and game developer. Our users may contribute their knowledge and experience to the growing project by submitting ideas or solutions, which are ready for implementation, in return for OX. Our wallets provide the latest security features to store your assets.
The BetBox Coin is run by OX cryptocurrency. After developers use OX Cryptocurrency, they can issue unique tokens for their gamblers. The developer problem tokens are then recorded in the smart contract.
In conclusion, OX is a fully gambling ecosystem with new features and technologies. It has all necessary and importaint features to integrate blockchain technology into gambling space. The RNG of betbox is based on issuance of future block hashes on Ethereum public mainnet. OX holders may lock tokens into the specified smart contract to receive profit share of the period. The locked OX will be burned within the process.
For your better understanding, BetBox will unite gamblers from all over the world with gaming developers on one platform, that helps to tokenize your favourite games. Team of the project is trying to bring brand new high level into the gambling industry.
For more information
Token OX
TypeUtility
PreICO Price 1 OX = 0.0004 ETH
Price 1 OX = 0.0004 ETH
MVP/Prototype Available
Platform Ethereum
Accepting ETH
Minimum investment 0.1 ETH
Soft cap 4,000 ETH
Hard cap 32,000 ETH
Country Gibraltar
Whitelist/KYC KYC & Whitelist
Restricted areas USA, Bosnia and Herzegovina, the Democratic People’s Repulic of Korea, Ethiopia, Iran, Iraq, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, Vanuatu, Yemen, the People’s Republic of China, Singapore and Cuba
https://betbox.app/required/lightpaper-v1-betbox-decentralized-betting-app.pdf
Bounty0x username: Humblemee