Gambling is the wagering of money or something of value on an event with an uncertain outcomes. We know gambling from the ancient times and people love to play gambling games. It consists of risk, consideration and a prize. The outcome is always uncertain and immediate one. Every gambling participant holds his nerves during the entire game. Which provides highest level of real entertainment.
There are many types of games comes under gaming structure. Some of which are lottery, sports betting, horse betting, poker, roulette, slot machine, card game, e-sports etc. People used to gamble with many games in casinos. Today due to the usability of mobile devices digital games are on the rise.
Due to these technological advancements the gambling market is growing exponentially. And it is expected to reach 1 trillion dollar market by 2021.
Problems
The gambling market works on the basis of trust. But due to the large number of intermediaries there is a lack of trust exists between market participants and players. Despite the market growth the gambling industry is still far from the perfect. The gambling market has many challenges which needs to be addressed immediately, which are:
• the market is highly centralized, which creates lack of trust;
• presence of intermediaries poses high fee;
• there is a lack of transparency and fairness in gambling;
• for players, account restrictions due to location, withdrawal limits and hidden fees;
• slow or delayed payments;
• risk of fraud;
• high cost in running online games;
• lack of credibility and security;
• lack of technology implementation;
But now thanks to the Faireum blockchain project which is committed to provide perfect solution to gambling industry problems.
Project objective
Faireum is a blockchain technology powered decentralized gambling protocol which provides secured, transparent and low cost gambling experience to users. Implementation of blockchain and smart contracts brings trust, transparency and security in the industry.
Principle of operation
In order to provide a perfect solution Faireum platform uses its own virtual token and smart game contract. Faireum's blockchain technology powered smart client protocols provides secured, trusted, transparent and reliable gambling experience.
Faireum's blockchain powered platform connects casinos, developers and players at a single place in real time. The Faireum protocol supports all types of gambling DApps, compatible with WASM blockchain contracts. Thus it provides various types of fair and transparent gaming on the platform.
Faireum's consensus algorithms are adopted from Byzantine fault tolerance-based delegated proof-of-stake (BFT-DPos), which makes it impossible to get attacked. Faireum's Virtual Machine allow users to create their own smart contracts which are linked with blockchain. Which further allows to exchange virtual assets.
Faireum blockchain uses WASM virtual machine powered by smart contracts to provide efficient tools for online and offline clients. Implementation of cryptocurrency protocol helps to provide decentralized online gaming. The platform allows third party developers to create and publish their own DApps with necessary gambling tools.
When third party developer wants to publish high quality gambling game, if the resource is not available on main chain then side chain's resource will be utilized for developing and publishing gambling games. Faireum's API and software development kit (SDK) allow developers to integrate Faireum protocol into their gambling games.
It is worth noting point that Faireum's random number generator makes the gambling games fair and provides transparent RNG services.
Benefits of Faireum platform
• it reduces the operational cost, increases profit;
• reduces fraud in the industry;
• allow users to transparently manage their accounts;
• allow developers to monetize their DApps;
• allow developers to earn revenue before releasing the games;
• games can operate fairly on the platform;
• developers can exchange their gaming templates and receive incentives for it, this adds value to it;
• Faireum network provides transparent payment across the platform;
• use of crypto token helps to make real time payment on betting;
• Faireum platform provides high level of security, reliability and increases the trust amount platform participants;
ICO details and timelines
• Token ticker: FAIRC
• Total tokens: 1,200,000,000
• Available for sale: 600,000,000
• Token price: $0.05
• Softcap: $2.5 million
• Hardcap: $25 million
• Presale dates: March 25 to April 25, 2019
• Public sale dates: 1st June to 30 June 2019
Token distribution
Conclusion
Fair, transparent, secured and trusted gambling attracts everyone. Thanks to blockchain technology and smart contracts, these helps to create a decentralized gambling platform. Thanks to Faireum project developers who are intended to revolutionize the online gambling industry. Faireum's smart protocol provides seamless gambling experience to users. It connects all market participants together to benefit each other on the single trusted platform. The project team has capabilities to drive the project to success. This project needs much public attention and I wish all the best for this great project.
Learn more about Faireum:
Website: https://faireum.io//
Read Whitepaper: https://faireum.io/assets/files/Faireum_whitepaper2.0_En.pdf/
ANN thread: https://bitcointalk.org/index.php?topic=5107738
Telegram: https://t.me/faireumofficial
Facebook: https://www.facebook.com/faireumofficialpage
Twitter: https://twitter.com/faireumofficial
Medium: https://medium.com/@faireumofficial
LinkedIn: https://www.linkedin.com/company/faireumofficial/
Instagram: https://www.instagram.com/faireumofficial/
Reddit: https://www.reddit.com/r/faireumofficial
YouTube: https://www.youtube.com/channel/UCXaRF8NXVmXtGg1E8ZoLKwg
GitHub: https://github.com/Faireum
About Author:
Bitcointalk username: Abhijeetcg
Bounty0x: abhijeetcg
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1676105;sa=summary
ETH address: 0x96e95a1F40cf5a50178053740ADE18046815362d
