Betbox: decentralized social betting application

oschum6 (15)in #betbox • 5 years ago (edited)

There are several different approaches to the decentralization of programs for trading on the market. Most firms seek to deploy a comparable solution, like other centralized providers, just on a chain. Most of them are focused on traditional sectors such as sports betting, casinos and card games. From a technical point of view, there are several options for deploying a reliable infrastructure on a distributed storage system. Ethereum, Gnosis, Wave, or other proven protocols.

The core of Betbox is developed on the Ethereum state system to ensure the maintenance of ETH rates and ensure full limpidity and protection in all automated processes. Expansion with React Native innovation allows users to provide full-featured access to Betbox functions, while all money-connected tasks will be handled by smart contracts on the Ethereum public network itself. Betbox presents a business version based on social communication. The provided framework allows users to take part in innovative games/stakes based on blockchains inside or outside their personalized network.

Research has shown that there is no need to decentralize classic rates, but rather to introduce entertainment features that allow users to compete with each other in real-time and link globally to form a sustainable and complex ecosystem. At a later stage, Betbox will introduce extra functions on the relay side of the Proof of Authority sidechain to reduce transaction costs and introduce functions with microtransactions or similar requirements with high data transfer. The project's main task is to turn the product to the mainstream, and not just to crypto lovers.

An obligatory step to reach a large society, in addition to providing a convenient mobile and web application, is to enable FIAT transactions in Betbox. Since the ecosystem is designed to handle own ETHs, as well as ERC20 tokens, Betbox can simply modify their product to introduce classic assets into the network as soon as all regulatory aspects are eliminated.

Betbox is a system based upon Ethereum Virtual Machine, a convention permitting trustless processes inside smart contracts. With a skilled and enhanced team from Switzerland, the organization intends to make "social media 2.0". Be that as it may, it's not the online social channel, which is regularly known in our general public. There's a whole other world to the story.

The decentralized application for desktop and mobile area is empowering users to contend against one another, goes challenges or just participate in events.

Notwithstanding the social viewpoints, betbox empowers clients to play pools, big stake diversions and a lot progressively invaluable highlights administered by the blockchain.

A little about App

With the Betbox interface alpha, only Metamask users get access to smart contracts. With the help of smart contracts, users can store, check or distribute assets. These contracts are divided into individual and pre-distributed by public vote or private decision.

Company's main goal is to develop a perfect web framework, a virtual society, which will exist in a totally safe and reliable ecosystem. In Betbox, the selection of deals will constantly increase, as it is simply necessary for productive development. Betbox will deploy smart contracts for a variety of cash games and other entertainment.

Roadmap