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 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. 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. 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. 100 Mio. OX will initially be created. The closure of each bet in the betbox smart contracts will create a single OX and randomly distribute it to a user of the ecosystem. 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.
Betbox is the ultimate tool to interact with users from all over the world by setting up challenges, personalized bets and monetized events. The fully decentralized application allows to participate in a wide range of blockchain based features as raffles, lottery and jackpot games and traditional gambling games.
In the future the users of betbox will be able to earn passive income by creating private groups and collect commissions for user activity or introduce their own applications in the ecosystem.
Betbox coin is the native token of the ecosystem and used for several features as payment method, to access VIP features and to participate as a OX-Node hoster in the OX-Chain.
Project Outline and Objectives
The betting industry is changing in tandem with the evolution of blockchain and cryptocurrency. As a part of this change, the industry is becoming more flexible and incorporating an increased degree of social interaction in its outlook. This is precisely the premise of BetBox, to introduce a new blockchain based platform which accentuates the social and democratic nature of gaming.
The platform aims to be active within various future dApps throughout the industry and is a platform where users can earn through their contribution of experience to further the platform. With this level of interaction encouraged by users, confidence within the entire sector and particularly the BetBox ecosystem can be buoyed.
This renewed optimism within the industry will extend to the blockchain and crypto. This should culminate in the removal of many existing barriers to entry throughout both industries moving forward.
The experienced project team are targeting a beta app release within the early part of 2019.
Brief Overview of BetBox
BetBox was developed in Zurich, Switzerland by a bunch of crypto-enthusiasts who needed a trusted platform to manage simple everyday bets in a relaxed, affordable, decentralized manner. Today, the founders of the platform claim that BetBox’s model is designed to let users bet on everything, everywhere, every time.
BetBox is built for everyone. There’s a vast range of unique, unprecedented betting experiences for users which include:
- Individual Bets
BetBox offers a secure place where anyone can create personal bets for oneself and/or friends. The stakes that you create can be public or private, which allows any user to become a bet king through BetBox. Currently, bets can only be placed using cryptocurrency, but in future, fiat bets will also be available.
- Personal Challenges
Through BetBox, users can create crazy personal challenges and share them with the rest of the BetBox community. Anyone who sets up and shares a personal challenge stands to get as much as 10% of the total pot if they complete their challenges. There aren’t restrictions as to what personal challenge you can and cannot create. Anyone can bet for or against you as you undertake your challenge.
- Live Activity Feed
BetBox offers its users the freedom to choose what activity they wish to see; anyone can customize his/her feed based on personal preferences. This lets you monitor bet activity closely so that you can see when bets go crazy as well as the climax of your friends’ personal challenges among many other things.
- Wallet Security
The security of the BetBox wallet is so efficient that users with little or no technical expertise can efficiently manage and secure their digital assets.
- Trusted Bookmaker
By using smart contracts, BetBox effectively eliminates the need for a centralized party to process bets. This guarantees an honest and fair distribution of earnings. Verity is a decentralized oracle that is used by BetBox to secure its voting mechanism while simultaneously empowering the people who use it.
- Earn Money with BetBox
The BetBox ecosystem creates several ways through which users make money. You can earn by winning in a game of chance or lottery and by taking part in voting on BetBox. Developers that contribute useful resources on the platform also get paid.
BetBox’s Token
The native token for BetBox is OX token, an ERC20 token that allows the minting of new tokens from specific BetBox betting contracts. The initial release will comprise 100 million OX tokens. After that, one token will be generated for every bet revealed on the BetBox ecosystem. The generated token will then be distributed randomly to one of the people who took part in the bet.
Inflation is prevented on the BetBox ecosystem by adopting a proof-of-activity token mining approach where tokens are generated only when people actually use the ecosystem. As the profit increases with time, BetBox will begin to buyback and burn OX tokens. In this way, the ecosystem will ensure continuous appreciation in value for the OX token.
ICO Summary
Token Sale Date:
Pre-ICO Starts: 20th October 2018. Ends: 30th November 2018.
ICO Starts: 26th December 2018. Ends: 9th January 2018.
Token: OX
Type: ERC20
Buy With: ETH
Price: 1 OX= 0.0004 ETH
Hard Cap: 32,000 ETH
Soft Cap: 4,000 ETH
Country: Gibraltar
Restricted in: Bosnia and Herzegovina, Ethiopia, Syria, USA, China, Korea, Yemen, Cuba, Iraq, Iran, Vanuatu, Sri Lanka
Roadmap
Website: https://betbox.app/
Whitepaper: https://betbox.app/required/whitepaper_betbox_v1.pdf
Twitter: https://twitter.com/betbox_OX
Telegram: https://t.me/betboxGlobal
Bounty0x ID: ecamli
