Gambling has always been a broadly adopted activity which had always been embraced by the community, though some still believe it has destroyed many lives. I believe gambling should be done moderately and obviously, you should know what you are doing, just like crypto space you should know never to invest what you could not afford to lose. With that being said, obviously Gambling platforms bring forth both positive and negative impact, apart from the financial freedom some would certainly have gained, some get wrecked and bankrupted by gambling due to either addiction to gambling or unfairness in the platform. I would like to talk about real problems individuals face in gambling and how an amazing project #FAIREUM plan to bring an actual solution which will revolutionize online gambling platforms as a whole.
Faireum is a public blockchain which focuses more on the problems of the online gambling industry and then resolves them with a set of protocols which provides a decentralized, transparent, low-cost and secured gambling experience.
Ridiculous high fees has always been one of the problems faced in gambling, you get charged and you just wondered why the hell did i even get involved in such deed, since the main reason people gamble is for gains why then do we have to be treated unfairly when it comes to fees which some are even hidden, I guess that is because the profit model of gambling platforms always aim to make ridiculous high fees for gambling operators which is absolutely shocking.
As if that wasn't enough, we also experience unfair odds, just because the platforms stake the odds against us players by tampering with the known Random Number Generator (RNG) by modifying the parameters. So you sit there hoping to receive a genuine lucky number but rather the Number generator get tampered with and that could only end in huge disappointment.
Money laundering and tax evasion had always been a huge problem in gambling too, because it was almost impossible to keep track and be honest in following the Local tax rules, there was absolutely no strict measures as too how this could be controlled effectively hence another problem which we obviously face in the gambling industry.
Also since playing live we do not really know the other parties, it would bring such uncertainty and lack of boldness in playing because then we don’t know what other counterparties is capable of, some players even pull back from have doubts. Since the industry is also centralized, there is lack of safety and transparency there, how to we trust platforms with our personal data and how do we know who else has access to them. If I continue to discuss problems we face in gambling industry, I would not finish this article but let’s rather focus on the solution that Faireum will bring to the table.
Faireum is a broad blockchain platform which has an Application Programming Interface, it has consensus mechanism and Virtual machines which would be accessed by third-party business providers. Because Faireum main blockchain uses the Web Assembly virtual machine as their stable runtime for their smart contracts and Byzantine fault tolerance plus delegated proof-of-stake as their consensus mechanism, the random number from their blockchain will not just be data which could easily be derived via programming from their program. Due to the fact that with the combination of block hash and zero-knowledge proofs, it is so impossible to derive or predict random number generator by using any kind of an inverse, that is what they refer to as Zero random algorithm. With that being said their system is also pre-configured with several other Random number generators which are dedicated to several games like Digital games, casino games, and sports quizzes.
There would be huge selections of both official games and other best games from their other network of providers in their gambling platform. Such as,
- Lottery
- Casino
- Digital games
- Sports betting
What also caught my attention in the project is the fact that they do have Applications for business which entails Faireum Smart Node; this node runs on user’s computer or their smartphones which can provide each user with both functionality as a client and also proxy functionality as a serve. This works as a node service, a client service integration, it provides wallet or you can call it a game center, last but not the least works for smart node partners and a smart exchange.
Conclusion
Faireum blockchain will bring on an utmost transparent, safe, reliable and hassle free gaming and gambling platform with numerous choices to select from. You know you will not be cheat neither will you be unsecure.
Token sale details
1.2 billion Faireum Tokens will be issued. Faireum ecosystem is currently being developed hence each Faireum token initially will be mapped into one corresponding ERC20 token on the Ethereum ecosystem
• Token name: Faireum Token
• Token symbol: FAIRC
• Total Supply: 1,200,000,000 FAIRC
• Sales Supply: 600,000,000 FAIRC
• Token Exchange: $0.05 USD = 1 FAIRC
• Soft Cap: $2.5M
• Hard Cap: $25M
• Sales During: 2 months
PRESALE
25 March 2019 ~ 24 April 2019
30% ~ 40% Bonus
PUBLIC SALE
1 June 2019 ~ 30 June 2019
5% ~ 25% Bonus
To read more about Faireum team and roadmap, kindly visit their website as link is provided below and also read their whitepaper to get more in-depth of the project.
Website: https://www.faireum.io/
Whitepaper: https://www.faireum.io/assets/files/Faireum_whitepaper2.0_En.pdf
Facebook: https://www.facebook.com/faireumofficialpage
Twitter: https://www.twitter.com/faireumofficial
Telegram: https://t.me/faireumofficial
Medium: https://www.medium.com/@faireumofficial
Github: https://www.github.com/Faireum
Youtube: https://www.youtube.com/c/faireumofficial
Bounty0x username: tinakoya