YoBit Coin

What is YoBit Coin

YoBitCoin is an innovative project powered by Blockchain and smart contracts which aims at making the online gambling and betting industry decentralized.

The current statistics show a sharp rise in the global gambling and betting markets. The Industry has recorded a growth record of 9% CAGR over a span of seven years and is expanding three folds than the global GDP. Furthermore, Internet has diversified the reach of gambling which enable millions of people to play right sitting from their homes.

Despite the impressive growth, betting and gambling industry is notorious for being unfair. The lack of transparency is the biggest reason behind the same. Moreover, some other issues have also plagued gambling industry such as high fees, low payouts, favoring house against the odds, poor RTP, hacked random number generators (RNGs) etc. In fact, as all the process is centralized and attached to bank, a user may lose out all his winnings and the bank blocks his account. The problems aren’t only limited to players but operators as well.

Here Yobitcoin comes to play. The decentralization of the platform ensures transparency and multi-layer security cover. Adding feather to the hat, there is no intermediary involved in the complete process so a player is sure that his winnings will not be confiscated under any circumstances.

The smart contracts over Ethereum platform help in impartial distribution of player winnings based upon the bets placed and the betting conditions. These smart contracts develop a bond of trust and credibility as all operations are between the operator and the player without any involvement of other party,

YoBitcoin reduces the operational and transactional cost significantly which further aids in scalability and versatility of the business. Thus, giving it a global recognition and develop an ecosystem which comprises of casual betters to high currency betters, third party developers/ affiliates to betting agencies.

Introducing a Novel Wave of Betting & Gambling: YoBitCoin

Even though conventional betting is a sheer case of luck, but is highly criticized for favoring the odds in favor of the house and making them the ultimate deciding authority. All this is because traditional betting follows centralized approach where even if a user makes a win, he is not eligible to take the promised payout. And if he loses, he loses everything!

Due to some fraudster operators, the complete gambling industry is been looked with a suspicious vision. Again, a handsome fees and complexity of betting makes some of the potential betters to stay at bay. Well, all that makes gaming not a fun but a risky business.

The main aim behind creating Yobitcoin was to redefine the “fun” for which actually gambling was incepted. It should make people satisfied and should be aimed to give players a headache. Yobitcoin is designed to remove all the intricacies related with traditional betting platforms by powering with a fully Blockchain platform supported by YBC tokens and smart contracts

Here the players challenge each other or their friends within a group and play against the odds set by the bookmakers. So, irrespective of the outcome either win or loss, the money stays with the group instead of going to the bookmaker.

With Blockchains coming into play, all the transactions are fairly visible and transparent as they are recovered over the distributed ledger. Only Blockchain guarantees a fair play, easy winnings, faster payouts and zero fraudulent activities.