The gambling industry is one of the fastest growing and promising sectors. Currently, its total market capitalization is estimated at more than $ 50 billion.
Internet betting is one of the leading directions in this industry. Traditionally, there are two options for accepting bets online: bookmakers and betting exchanges. However, the use of traditional systems has some issues inherent in centralized data processing and storage systems.
The goal of the Bettex project is to build a decentralized betting exchange bases on the blockchain. Bettex coin will be the main payment method on the platform. The project seeks to solve the following problems of traditional centralized systems:
- Payment delays;
- Regional restrictions on accepting payments;
- High fees;
- Commissions paid to the third parties;
- Lengthy verification process.
The Bettex project consists of two components:
- The decentralized Bettex betting exchange, implemented on the BigchainDB blockchain.
- Bettex Coin with the Proof of Stake consensus algorithm developed on the Xevan algorithm.
BigchainDB is software that combines the properties of a database (high speed of operations, indexing data, and its structuring) and blockchain (decentralization, the immutability of recorded information). Using BigchainDB will allow the project to develop a fault-tolerant, secure and decentralized betting exchange. Tendermint integration for cross-site networking increases the throughput of BigchainDB to 1000 transactions per second. You can see the comparative advantages on the table:
The main purpose of Bettex Coin is the provision of fast transactions in combination with a low commission. At the moment, the coin is being traded on the Cryptobridge, Crex24 and Graviex exchanges.
Until the end of 2018, the alpha version of the Bettex exchange will be launched. Currently, users can also use a web wallet to store Bettex coins. A beta version of the platform, as well as the mobile wallet on Android and iOS, will be released in the first quarter of 2019.
The masternode is implemented for network maintenance, transaction processing, and network security. A minimum amount of 5,000 BTXC is required to run a single node, which equates to approximately $ 845.
The annual revenue of network members is approximately 84%. Comparative income at this level of investment you can see on the table:
The Bittrade Group platform has already run the Bettex node. Income distribution occurs by the amount of investments. As previously, each member of the pool would be able to check their income in real time. To participate in the further masternode pools, stay tuned to our news to keep up to date with new ways of profit-making.