Betbox (OX)

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. 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 smart contracts are devel-oped 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 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. *OX holders may lock tokens into the specified smart contract to receive profit share of the period. The locked OX will be burned within the process.

Whitepaper

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What is Betbox

There are several different approaches in decentralizing betting applications on the market. Most companies are eager to deploy a similar solution as other centralized pro- viders, just on a blockchain. Most of them are targeting the traditional sectors as sports betting, casino and card games.

From a technical point of view there are several options available to deploy a reliable infrastructure on a distributed ledger technology e.g. Ethereum, Gnosis, Wave or other proven protocols. Betbox’s core is built on Ethereum public mainnet to enable ETH wa- gering and to guarantee full transparency and security within all automated processes. Development with “React Native” technology allows us to provide a full-fl edged access to betbox features whereas all money-related tasks will be handled by smart contracts on the Ethereum public Mainnet itself.

In order to raise ourselves from the competition we are introducing a business model based on social interaction. The provided infrastructure enables our users to participa- te in innovative blockchain based games/bets within or outside their personal network. Our research has shown that there is no need to decentralize classic bets but rather introduce entertaining features which enable users to compete against each other in real-time and connect globally to shape a sustainable and challenging ecosystem. At a later stage we will introduce further features on a relayed Proof of Authority side- chain to reduce transaction costs and introduce features with microtransactions or similar requirements with high-throughputs.

Our main focus is to address our product to the mainstream and not only to crypto- enthusiasts. A necessary step to reach a large community, besides providing an easy- to-use mobile and web application, is to enable FIAT transactions within betbox. As our ecosystem is built up to handle native ETH and also ERC20 Tokens we can easily adapt our product to introduce traditional assets in the network as soon as all regulatory aspects have been cleared.

BETBOX ECOSYSTEM

After the creation of our basic decentralized infrastructure we now focus to bring bet- box 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.