· March 15, 2018 · 4:00 pm
Gambling Platform Betrium to Launch Main ICO After Raising More Than $1.2 Million During Its Pre-ICO
Betrium is a partially-decentralized worldwide betting exchange and sportsbook – developed by MIT and MIPT graduates – which accepts cryptocurrencies and offers low commissions. It also serves as an effective platform for event organizers, developers, and third-party service providers. After an extremely successful pre-ICO round, the Betrium main ICO is set to begin on March 26th and run through April 29th.
Unregulated Gambling: A $1 Trillion Industry
Last year, the global gambling market totaled roughly $533 billion, and the betting market alone made up $70 billion in global gross yield — and that’s just the regulated portion! The unregulated gambling market is significantly larger, as Interpol pins the total unregulated gambling market at $1 trillion.
Additionally, over 100 million people bet on sports every month. Thus, it seems rather obvious that the gambling market is ripe for effective cryptocurrency implementation — which is exactly what offers.
Advantages for All
There are many advantages to using Betrium.
First and foremost, Betrium lets organizers earn, as it offers a unique betting creation platform for event organizers in e-sports and small sports leagues.
Secondly, Betrium offers worldwide support, since the platform is available globally and supports cryptocurrency withdrawals almost anywhere. Customer support is also available 24/7 in 18 languages.
Thirdly, and perhaps most importantly, Betrium boasts the lowest commissions around. It does not take commission from deposits, withdrawals, and winnings. It also does not tax personal income.
A Platform for Everybody
Betrium offers gambling solutions for everyone.
For event organizers looking to earn money, Betrium provides a special partner solution. Each account on the Betrium Network is able to create custom events and earn on betting in an easy and effective manner. As an example, an e-sports organizer may create a match on Betrium, add the potential outcomes and publish it — all in only a few clicks. Betrium does all the work when it comes to odds-making, so it’s almost guaranteed to turn a profit. The platform also provides special marketing tools for promoters.
Betrium is also one of the first to offer advanced Open API for developers, bots, third-party apps and betting service providers, and the team actively develops Betrium Framework for the most popular software platforms.
Holders of BTRM tokens also regularly receive a share of Betrium’s profit, which is an important element of the platform’s token-growth mechanism. Betrium shares exactly half of its profit annually, thus making the BTRM token directly backed by the platforms financial success. Profit sharing also helps ensure the appreciation of the token.
Bye Bye, Volatility
Betrium offers unique cryptocurrency volatility stabilization for its users — meaning balances are fixed in virtual USD/EUR, preventing users from massive losses from unexpected cryptocurrency dumps. This is achieved by integrating exchange functionality (USD/BTC/ETH) and by securing partnerships with various local and global exchanges.
The BTRM Token
In order to bring the platform to life, Betrium is launching an Initial Coin Offering (ICO).
BTRM tokens are issued on the public blockchain and are ERC-20 Ethereum-based. Only 140 million BTRM tokens will be issued.
The Early Pre-ICO and Pre-ICO have both successfully concluded.
The ICO is scheduled to run from March 26 to April 29, and users are rewarded with 1200-3000 tokens per ETH, making the cost of one BTRM token 0.00033-0.00071 ETH. The ICO soft cap will be 1200 ETH, and the available token supply is 63 million BTRM.
You can learn more about Betrium, follow its industry-leading team, read the project’s whitepaper and check out the roadmap on its .
What do you think of Betrium? Are you interested in the token’s revenue sharing potential? Let us know in the comments below!
Images courtesy of Betrium
Bitcoinist does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions related to the company.
Published at Thu, 15 Mar 2018 20:00:55 +0000
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Bitcoin Lightning Network Is Coming: Test a Transaction Now
Although bitcoin has managed to gain credibility and legitimacy in the financial world, skyrocketing transaction fees and long transaction times are becoming an increasingly severe handicap. The good news is that developers are making progress towards the bitcoin Lightning Network (LN) implementation. LN promises to reduce bitcoin’s transaction fees dramatically, and achieve near-instant transactions. You can test a bitcoin LN transaction right now.
Lightning Network Promises to Reduce Transaction Costs and Confirmation Delays
bitcoin users are unhappy about the high costs of transaction fees. bitcoin average transaction fees have spectacularly surged from about $0.69 USD in January 2017, to over $28 USD on December 18, as shown in the chart below. BitInfoCharts provide this chart.
Moreover, the bitcoin network traffic has become clogged due to the rising demand for transactions per block. As a result, confirming bitcoin transactions is taking an extremely long time. Bitpay :
Block sizes are limited, so this means that transactions which exceed the capacity for a block get stuck in a queue for confirmation by bitcoin miners. This queue of unconfirmed transactions is called the bitcoin mempool.
Now, bitcoin enthusiasts and cryptocurrency experts are centering their hopes on the LN approach to reduce transactions fees and long time-delays.
Solving bitcoin Scalability Problem
The bitcoin Lightning Network is essentially a decentralized system where users can set up trustless micropayment channels to conduct one or multiple payment transactions off-blockchain.
These channels reside outside the bitcoin blockchain. However, once the payment channel is closed, the transactions that occurred between the channels are then broadcast, as a single transaction, to the main blockchain network. Thus, no matter the number of micro-transactions conducted, the blockchain is accessed only twice, when the channel is opened and when the channel is closed. Obviously, this approach would significantly reduce the load on the blockchain.
Presently, three teams are independently working on the LN implementation: ACINQ, Blockstream, and Lightning Labs. In early December 2017, they that their respective systems had completed payment tests on the main bitcoin network. Moreover, these tests achieved interoperability across all three implantations.
Right now, to educate potential LN users, the website allows you try a testnet bitcoin LN transaction. Reddit user Nabugu provides the details of the test .
As demand for bitcoin continues to grow, transaction costs and time delays are bound to get worse. However, many bitcoin enthusiasts and experts are excited about LN. For example, Ryan Radloff, co-founder, and principal at CoinShares, explicitly CNBC that LN was the solution, adding:
[LN] is a technological implementation that, later this year, is going to solve this [problem], and we’re very excited about that.
What do you think would be the impact on the cryptocurrency ecosystem when bitcoin Lightning Network starts allowing users to make cheap micropayments at near-instant speed? Let us know in the comments below.
Images courtesy of AdobeStock, ACINQ, BitInfoCharts
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