BX.BET: THE DECENTRALIZED BETTING EXCHANGE

in #blockchain • 6 years ago

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Cryptocurrencies is one of the most important inventions since the inception of the web. They are ushering in a new era of decentralization, privacy, and control of one’s own data that has the potential to revolutionize many parts of society. There are currently over one thousand cryptocurrencies in use, with hundreds more being released each year. Their combined market cap has grown from $10 billion in 2016, to over $400 billion at the time of writing, having previously been much higher. Only 1% of the world’s population own cryptocurrency. Companies involved with blockchain, the technology behind cryptocurrencies and altcoins are expected to experience significant growth over the coming years. Blockchain technology can solve dozens of previously intractable problems, like digital identities, supply chain integrity, data breaches and many, many more. The use of blockchain technology within society has been exponentially increasing since it was introduced to the world by Satoshi Nakamoto. The first use of blockchain technology was bitcoin. According to Gartner Insights, blockchain, the driving force behind the crypto market is estimated to grow in business value to $3.1 trillion by 2030. Blockchain is the fastest growing market in the world and the BX token offers investors an opportunity to benefit from the growth in value. The age of blockchain technology is just beginning. The Bx.bet is a blockchain-based betting platform and prediction market ecosystem designed to change the future of betting. Before i proceed lets take a look at this video

INTRODUCTION
BX.BET is a blockchain-based betting and predictive market ecosystem, designed to revolutionize the future of betting. BX has a vision to create a new betting experience, where each user can take over the role of betting, create their own market, place and offer bets with self-determined opportunities, and even participate in determining market results.
BX is the solution to all the problems and weaknesses of the current betting market, by introducing a strong and distributed ecosystem that runs on smart contracts that execute on their own, significantly reducing transaction and operational costs.
With the smart contract power of the ethereum blockchain, BX is able to cut out the middleman and give its users full control over their funds and betting transactions at all time.

VISION
To create an ecosystem which fully supports each of the following market types, to provide a truly unique and engaging experience for all players.

AIMS
To completely disrupt and redefine the traditional betting industry by offering its users a unique betting experience.

PROBLEM
Lack of Trust
Traditional betting operators require a high degree of trust - which is sometimes exploited by the bookmakers, to the detriment of their users. On the other hand, this responsibility results in high procedural and financial expenditures for the bookmakers as well.

Lack of Transparency
The processes of traditional bookmakers remain hidden, giving no insights into what information led to specific odds and making it impossible to ascertain whether the odds are fair or set too far in the bookmakers' favor.

Interference of Providers & Limitations
Within the current sports betting landscape, the players are very limited in their freedom of betting. Bookmakers can limit the players in their betting behaviour and even penalize players who frequently win, by banning or restricting them.

High Costs
High costs are required to run a traditional betting operator safely and efficiently for both the players and the company. These costs are reflected in high margin odds and directly charged to the players.

SOLUTION
The decentralized, blockchain based approach eliminates non-distributed processes and allows players to benefit from full transparency and total control over their betting experience. They remove the middleman and hand control back to the user.

BX neutralizes all problems and weaknesses from the current betting market, by introducing a powerful and distributed ecosystem running on self-executing smart contracts, which significantly cuts transaction and operational costs.

BX Application
BX App is designed both for Android and iOS. Though the functionality of the mobile application will be restricted to essential features at the initial stage, its scope will be extended in the future.

HOW BX.BET WORKS
Betting Exchange
The BX betting exchange forms the central hub for its users to accept or offer bets on the outcomes of the markets.

Fee Structure
BX will establish a fair and transparent fee structure, which is solely designed to keep the ecosystem running. The overall fee will be significantly lower than industry standards.

BX Smart Contracts
All BX betting transactions, as well as payouts, will run safely, autonomously and transparently on the blockchain by using Smart Contract Technology.

Market Owner
Becoming a bookmaker has never been so easy. In the BX ecosystem, every user can become a Market Owner and receive a share of the market they have created.

Betting Markets
BX will offer two types of betting markets within the ecosystem: private and public markets.

Oracle
BX will introduce the BX outcome voting system as a decentralized Oracle to determine the outcomes of the bets securely and reliably.

TOKEN SALE AND ICO DETAILS
This platform issues Ethereum based utility tokens called “BX”, this can be used in the internal ecosystem of the platform for the services like creating betting markets and rewards claiming.

TOKEN DETAILS
Token symbol: BX
1 BX = 0.19 USD
Token Type: ERC20
Total supply of tokens: 200,000,000
Blockchain used: Ethereum
Token type: Utility
Soft cap: $5,000,000
Hard cap: $20,000,000
Pre-Sale: 03rd Sep to 17th Sep 2018
Main Token Sale: 08th Oct to 05th Nov 2018
Country: Malta
Whitelist/KYC: KYC & Whitelist
Restricted Areas: Algeria, Bangladesh, Bolivia

TOKEN SALE DETAILS

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Pre-Token Sale start date : 3rd September 2018
Pre-Token Sale end date : 17th September 2018
Main Token Sale start date : 8th October 2018
Main Token Sale end date : 5th November 2018
Total token supply : 200,000,000
Total tokens offered : 120,000,000

TOKEN DISTRIBUTION

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USES OF FUND

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ROADMAP

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Q3 2017 : Project kick-off

Q4 2017 : Product / concept development

Q1 2018 : Token Offer Development and MVP development

Q3 2018 : Private sale and Pre-Token Offer

Q3 2018 : Public Token Offer

Q4 2018 : Development
First Exchange Listings

Q4 2018 : Release of the private alpha version of BX.
Regulations and Licensing

Q1 2019 : BX Public beta and BX Wallet release
Q2 2019 : API / Mobile app release
Q3 2019 : BX roll out with full functionality
Q4 2019 : Implementation of financial markets & all eSports features
2020+ : Offline presence and other great expansion in the BX ecosystem

MEET THE GREAT MIND BEHIND THIS WORK

#cryptocurrency #trading #betting #bxbet
6 years ago in #blockchain by
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