What's up guys, here I am again to discuss about a developed decentralized betting app called Betbox. Betbox is a project made envisioned by our very own Founder and CEO- Mr. Stefan Godly.

Let me talk about first about the fundamentals and how Betbox will revolutionize the betting and gambling industry thru the use of this blockchain project.

What is Betbox?
--> Betbox is the latest development made to have people be able to bet in a decentralized way in every games that are being conducted around the world without the custodian of our funds but only smart contracts wherein these are executable. Therefore, the one that bets will for sure either be able to get their winnings without ifs and buts. With the use of Betbox app, bettings with anyone else in the world would be fun again!

Aside from that, the Betbox team is eager to make the blockchain project not just for the sake of gambling but to socialize and monetize your time as well for using Betbox! Amazing wasn't it? It only shows that the Betbox team wants from all walks of life whether a beginner gambler to a professional gambler or even a non-gambler can earn here in Betbox blockchain project. Let me walk you through as I have read the whitepaper, light paper and other documents made by the Betbox team.

The Betbox Ecosystem

1. OX--> Native currency of Betbox. It is like the same as other cryptocurrency functions built in the Ethereum platform that could be used in the transactions in the betbox ecosystem. It is the form of payment for betting, giving tips, rewarding and my favorite method of earning crypto: Staking it! and etc.

2. RNG and smart contracts--> Because this is a decentralized betting app, we need something that executes itself without the human intervention that is why there is smart contracts that determines who won and who lose. Aside from that, the RNG, serves like a raffle facilitator without the human touch. All AI and all in random. No cheating! Perfect for gambling and to have more trust in the system.

3. Oracle--> As what I was able to see in this platform, there could be disputes in betting and other rewards that needs mediation. That is what an Oracle works here. As far as I read in their whitepaper, human decision makers will be the last line of defense and gives the people the power to decide. A true nature of decentralization and democracy.
   

4. OX sidechain--> When we say sidechains, it is a blockchain within a blockchain of a project. For example, Steemit, where I was writing this article for Betbox, could spring other sidechains for Video like Dtube, Esteem and many more. That is how OX sidechains will work with the Betbox platform. In layman's term, there will be sidechains that has special functionality. It is "delegating" work within the platform. There could be Dapps within Betbox platform under Betbox of course.

5. OX-relay--> This is in connection with OX-sidechains. The beauty of having sidechains is that the sidechains are literally connected with the main chain or main net but with a different design and function. But the contents will still be there wherever you look at it. Immutable and transparent. That's what blockchain project Betbox is.

There are 2 events that takes place in the Betbox app.

a. Private events--> In this type of event, there will be a consensus wherein the one with the most bet or crypto holding has the one who has 'say' in the voting. As what I understood in the whitepaper, the 2 parties from X and O must have an equal amount of voting power in the end of consensus. Unless someone declares defeat from other party or if there is no consensus at the end, there will be another voting round.

b. Public events--> This is where a quick reaction is needed from the Betbox. It is like validating the events based on what really happened in the real life outcomes. That is why it is called blockchain. Validators will be rewarded depending on the stakes they have as well. As for the voting, this is where crowd-sourced wisdom was formed.

Games In Betbox

Just for a summary, aside from public and private events, I saw the classic games where people may bet using cryptocurrencies.

One is that I saw the Shoot-out with a 50% chance to win and the russian roulette as well. The one that I see that is unique is the Challenge which is a dApp. Another one is the Crypto Rally which uses ERC 721 also known as Non-Fungible tokens which has a specific value on each token and is not that interchangeable.

Devices compatibility

--> About the devices supported by Betbox, it is great that aside from the Betbox app for Android and iOS, you could also do the games on web-based desktop running on WEB 2.0 browsers like Chrome, Firefox,etc.

Multilingual app support

--> Understanding that this is a global app, the Betbox app will also be having the Betbox in translations to different languages as well. The more players the merrier!

Let me also show you about their preview in the Betbox app from the whitepaper itself. Expect more great things coming for Betbox guys. This is where betting and winning meets cryptocurrencies.

How do Betbox HODLers and the Betbox company earn?

1. Commissions--> There is a pre-determined 1% on top of the smart contracts pre-built in the transaction.

2. Withdrawal fees--> When withdrawing money from Betbox, there will be a fee.

3. Baas--> It was not stated in the whitepaper. But BaaS means Backend as a service. This means that Betbox has APIs to every device that downloads the app and have access to the software of Betbox to purchase in-app items and other in-game products.

4. Dapps--> Under Betbox, developers may develop new sidechains or Dapps (decentralized apps) in the platform with the use of Betbox coins or OX coins as the native token for doing transactions. Developers can create new betting games for the people to use. Amazing and exciting!

This is the current roadmap. More will come for Betbox guys.

Betbox uses the Proof-of-Activity for minting the new Betbox tokens. Which means the events that are taking place in the app will be the determining factor for creating new blocks plus Staking.

For a more visual representation and easier reading, here is the screenshot of the whitepaper's tokenomics.

With the token burns as well, we are all assured that this project will be big and will appreciate in value over time.

For their team, I saw sir Stefan Godly again. Now he was the CEO of Betbox.

Here is the main team:

I hope you guys enjoy my explanation about Betbox and why I like to review about it. More power to Betbox and team! For more information and details about them, you may reach them via website and other social media channels here:

Website: https://betbox.app/

Whitepaper: https://betbox.app/required/whitepaper_betbox_v1.pdf

Lightpaper: https://betbox.app/required/lightpaper-v1-betbox-decentralized-betting-app.pdf

Business paper: https://betbox.app/required/betbox-business-paper_dez18.pdf

Tokenomics: https://betbox.app/required/betbox-coin_token-economy_dez18.pdf

Bitcointalk: https://bitcointalk.org/index.php?topic=5026661.0

Twitter: https://twitter.com/@betbox_OX

Medium: https://medium.com/betbox-ox

Github: https://github.com/betbox

Telegram: https://t.me/betboxGlobal

Bounty0x username: @frankydoodle

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