Betnomi (BNI)

What is Betnomi

The Gambling industry is plagued by a host of issues and inefficiencies - the result, a lack of trust between players, developers and services providers due to multiple intermediaries, high fees and unintuitive user experiences. There is an urgent need for an overhaul of the whole online gambling system. A major solution to a bet and modern gambling system is a decentralized gaming platform that leverages the advantages of Blockchain technology. The gambling industry is plagued by a host of issues and inefficiencies – the result of a lack of trust between players, developers and service providers due to multiple intermediaries, high fees and unintuitive user experiences. There is an urgent need for an overhaul of the whole online gambling system. A major solution to a bet gambling system that would bring it close to its future is a decentralized gaming platform leveraging Blockchain technology.

Betnomi is a public Blockchain and a set of protocols, which focus on the gambling industry and provide a decentralized, low cost, transparent and secure betting, and gambling experience. Betnomi uses its own native currency and smart game contract to guarantee a superb and premium betting experience and services in lotteries, sports betting, casino games and other digital games to users. Betnomi releases a smart client based on the set of protocols for the creation of a trustful, borderless, secure, and fast online gambling network that benefits all.

Our Mission

Betnomi has developed a competitive public Blockchain based on the best practices of Bitcoin, Ethereum and Hyperledger. The consensus algorithm adopted from the Byzantine fault tolerance based delegated proof of stake (BFT-DPos) assures the verification of transactions on the Betnomi Blockchain as well as its performance.

The protocol we are working on is a set of the standards used for gambling DApp on the Betnomi Blockchain. It is also compatible with all of the WASM Blockchain contracts written by high-level programming language and implements Betnomi protocols. The first version will be released at the end of 2019, it will keep on evolving together with the Betnomi ecology, and will be the key component to bring a next-generation, unbeatable gaming experience to the user.

Our mission is to enable the next generation of many-to-many gambling and betting applications. By building on top of existing Blockchains, our applications will be able to be deployed in a peer-to-peer environment, with complete fairness transparency and visibility. We believe Betnomi is revolutionary, and will change everyone's expectations of how bet and fast applications and gaming can be.

Structures of Online Gambling

The internet has brought many novel approaches to betting structures, changing the gaming industry. To this day, betting remains one of the most well-known and lucrative internetbased businesses. According to H2 Gambling Capital, global online gaming revenues were worth an estimated $43 billion in 2017, making up 10% of all global gaming revenues (offline and online combined), By 2022, the global online gaming market will be worth €65 billion. With over 6 million adults gambling or gaming around the world and estimates of greater than 10 million for 2020, the gaming market overall is growing rapidly, with the online segment of the market expected to accelerate faster than that of traditional casinos.

Mobile play accounted for an estimated 37% of online gaming revenues in 2017, over triple the 2010 mobile user base of 11.5%. With mobile use continuing to rise, it is expected to reach 49% by 2022. However, the major mobile platforms which dominate the market have heavily restricted "real-money" gaming apps from listing on their app stores or have banned them outright.

There are many types of online gambling. The Betnomi presents the theory and technology for developers and service providers to develop and deploy them on our main or side chains, and reach a global audience of users in a decentralized environment. Below are some prevalent online gambling games to note, you can also see the benefits Betnomi will bring to all types of online gaming.