BETBOX-DECENTRALIZED BETTING APP
What is Betbox ?
Betbox 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.
BETBOX ECOSYSTEM
After the creation of our basic decentralized infrastructure we now focus to bring betbox to the people around the globe. In the next few months our UI/UX department will create simple-to-use yet entertaining evenues to features in betbox.
NATIVE CURRENCY «OX»
Betbox introduces its native currency betbox coin (OX) to the betbox ecosystem. OX will be used as means of payment and will be utilized to participate in certain features and bets and act as staking currency to obtain a distributed Proof of Authority network. The OX token mechanics are unique as we introduce an activity-based minting process
within the ecosystem. To moderate the infl ation of OX, the circulating OX tokens of volunteering users may be burned in return for ETH each quarter of the year.
SMART CONTRACTS
Our aim is to fully decentralize the backbone of the environment provided to users.
Therefore, we developed a smart contract bundle based on Solidity performing all actions within betbox in an immutable and transparent way without risking any attacks. The smart contracts will be deployed on Ethereum public Mainnet to ensure the reliability and availability of the platform. In order to enable high throughput features we will
outsource several mechanics to our OX-Sidechain in the upcoming months.
RNG
The main characteristic with RNGs on Ethereum public Mainnet is, that EVM execution results must be reproducible. This is required for other nodes to verify that a miner has properly executed a contract call. This prevents the use of an ordinary RNG, which usually employs a secret seed. The reproducibility requirement demands that the seed is known to all nodes, but knowing the seed makes the RNG completely predictable. One way to work around this issue is to utilize pseudo-random information from the future. A source of pseudo-random information can be considered the block hash. The block hash is hard to predict prior to the block being mined, considering that it has to fi t
the diffi culty criteria in order to be accepted. An important requirement is that the pseudo-random information needs to be from the future, since past block hashes and/or other pseudo-random information from the past
is already known to everyone. In order to meet the requirement, the RNG result is scheduled to be obtained once a future block is mined.
Is a new project with breakthrough ideas. Betbox will change the electronic money industry, be a smart investor and have the right choice, and I think you are right when choosing BetBox. More information here:
Website : https://betbox.app/
WP : https://betbox.app/required/whitepaper_betbox_v1.pdf
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