Bet on everything, always and everywhere. Betbox ICO rating – not rated.
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PRE ICO Dates : 20/10/18 – 30/11/18
About Betbox ICO (token sale)
Betbox ICO 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 ICO smart contracts are developed 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 ICO 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.
PROBLEMS & SOLUTIONS
Often the end-user cannot verify the integrity of a service-provider and is not able to assess the money flow within the engagement. This fact can be vanished with the usage of decentralized book-makers in smart contracts.
Trust and Transparency
We all want it; only some can provide it. We are aiming to build a transparent and immutable ecosystem. We do this by using smart contracts to perform all required money-related actions in any betbox feature. The only centralized party interacting in betbox is the user.
In contrast to industry standards our RNG is open source and performed on Ethereum public Mainnet and therefore impressionable and not predictable.
On contrary to traditional book-makers the odds are fair and the distribution of funds seamless and without delay.
To enable a fair and comprehensive decision-making process, in some of the features in betbox ICO, we integrated an oracle which can be conducted in case of dispute or for voting. This means the real human beings are the sole decision-maker in all processes which cannot be concluded with a smart contract.
Service Availability / Down Time
Although the technology is taking huge leaps forward, many centralized service operators have limited service availability due to down times of servers or cyber-attacks. The betting industry also accommodates offline service providers which may have limited opening hours or holidays.
Betbox ICO smart contracts will always be running and available for serving our customers. Even if the dApp may be compromised the funds are safe at all time and accessible through another blockchain access.
Scalability of the Ecosystem
In our point of view traditional operators do not have a disadvantage in terms of scalability.
Instead, the low TPS of Ethereum is limiting the interactions within betbox ICO which need to be performed in a decentralized manner. This is why we will deploy an EVM sidechain with POA consensus and distributed community nodes. After this milestone is reached we can easily compete with centralized competitors.
In terms of social scalability (target audience) betbox meets the requirements to target a global community from any kind and age* by using ETH and providing a broad device coverage.