Bettium (BETT) ICO Review – ICO Token News
Bettium is a decentralized blockchain analytical platform for peer-to-peer (P2P) betting offering Artificial Intelligence (AI), Big Data analytical tools and algorithmic capabilities. Bettium provides unified functionality for professionals, amateurs, analysts, experts, and developers of betting solutions. The traditional betting industry, with its inefficiency, over-regulation, and bloated commission structure, is ripe for disruption. While other blockchain solutions have emerged, none presents an infrastructure solution with the functionality and capability of Bettium. More than a betting space, Bettium is a comprehensive database, a repository for information and systems that can potentially make all decisions for the user.
A fully decentralized platform, Bettium resolves all the challenges that have plagued traditional betting systems. The platform provides a transparent and safe betting system, completely protected from manipulation by players, third parties, and the bookmaker himself. P2P betting is by its nature fair and self-regulating: with odds and terms determined by users themselves, there can be no manipulation to cover fees or boost margins. Built-in AI and Big Data capabilities will allow players to develop their own forecasting strategies and combine them with algorithmic capabilities available on the platform. Bettium will also provide access to the statistics and forecasts of successful players, experts and analysts.
Betting and settlement operations take place exclusively through BETT Tokens, which can be bought and sold on an internal exchange. Tokens thus will continue to have intrinsic value long after speculators have left the market. Decentralization ensures that the system will be available worldwide, practically immune to shut down, and free from third-party interference. Under a system of oracles and smart contracts, winnings will be paid instantly and automatically, without the involvement of bookmakers, operators, or any bank/platform that might impede the process.
BETT Token Economics
The BETT token serves multiple purposes on the Bettium platform. Firstly it functions as the primary betting currency; secondly, it serves as the means of payment for services and subscriptions marketed on the platform. Collecting fees in BETT ICO tokens will increase the robustness of the platform and provide for a stable tokenomics model. Tokens will also be used to form prize pools in tournaments organized or sponsored by Bettium.
The BETT token provides a number of incentives for investors:
- Online betting is a promising market that continues to develop at a rapid pace due to geographical expansion (Asia and Africa) and new betting markets (E-Sports).
- Bettium is a real, functional product that will be ready for rollout in a matter of months. Unlike many other projects heavily dependent on speculation, Bettium offers a token in which the blockchain serves a practical purpose, i.e. the token has true utility, catering directly to the needs of Bettium users.
- The BETT token has practical value. The growth of many other tokens is fueled by PR/marketing campaigns and speculation, leading to the infamous “pump & dump” model that can destroy token value early on. Bettium has integrated real technological value into the BETT token, endowing it with multiple functionality, to mitigate the volatility typical of the cryptocurrency market and improve long-term prospects for token holders. BETT tokens have and will always have practical utility within the framework of the platform. This approach will help to ensure sustained liquidity and demand.
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Use of Blockchain and Decentralization
Blockchain refers to a decentralized public registry storing records in multiple locations of all transactions that have occurred since the inception of the registry. Each transaction is irreversible and verified by a consensus majority of participants. With thousands of copies on nodes throughout the world, Blockchain is by its nature immune to most hacking attempts. Advantages include transparency, anonymity, efficiency, scalability, and many others.
Transparency and Data Authentication
All records in the blockchain are decentralized, unchangeable and irreversible. At the same time, they are completely transparent, i.e. available for viewing at any time by any member of the network. The same database is replicated to each user, meaning each node is able to authenticate and verify any new or prior transactions. “Smart contracts” can be set up under which certain actions will irrevocably take place (such as the exchange of money) if certain outcomes occur (such as one team’s victory in a sporting event).
Entries in the blockchain are anonymous. While the transactions of a given account or wallet can be viewed by any member of the Blockchain at any time, accounts themselves are not identified with individuals. The user’s personal information remains confidential, protected by essentially unbreakable encryption protocols.
Transactions on conventional betting services pass through a number of intermediaries (banks, payment systems, and brokers), incurring commissions at every step. Blockchain allows the user to conduct transactions directly, without intermediaries, under transparent conditions known in advance to all parties. This is true for commercial contracts, private payments, betting on the Bettium platform, or any other transaction carried out on the blockchain. Commissions are minimized and transaction speed maximized, as users connect to each other directly in cyberspace without interference from banks or third parties.
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- Nathan HuntCEO
- Ben MarrelBDO
- Brian BelleroseChief Legal Officer
- Ron LewinBusiness and Technology Strategy Executive Manager
- Sheldon BennettBlockchain Analyst
- Alice DouglasInvestor Relations & Community Manager
- Edgard LuqueFull Stack Developer
- Alex KamilovCTO
- Dan HuntSoftware Engineer
- Yuri ProshinCCO
- Alexandru RadulescuCrypto Market Advisor
- Peiwei NiChairman and CEO of Super Block
- 1August 2018
-alpha 1.0 MVP - UI design and basic user functionality
-support fir cross-chain transactions on ERC20 Ethereum standard
-pre-production of wallet interface
- 2September 2018
- Alpha 1.1 Version
- Testing of the API and auto betting algorithms
- Token Listing on cryptocurrency exchanges
- initial development of smart contracts
- initial development of private blockchain
- 3October 2018
- development of API and trust account management interface together
with associated smart-contracts
- the first version of IA advisor and integration into the
-integration of Big Data function and API for user-managed machine learning
- development of mining compensation protocol and implementation of
- 4November 2018
- expansion of analytical function (smart forecasting) and
auto-betting algorithm (complex wages based on conditional outcomes)
- launch internal conversion platform
- testing of Al management of the auto-betting function
- Development of Decentralized Oracles Network
- 5December 2018
- receipt of gaming license (Curacao)
- The launch of first mobile clients (IOS, Android)
- Development of Merlin protocol for off-chain transactions using lightning network protocol (network scaling)
- Alpha version of the private blockchain
- development of HyBer test network for developers
- 6Q4 2018
- Comprehensive security testing
- The beta release of the platform for developers - external testing
of Al/machine learning algorithms
- The launch of desktop clients (Mac/Win)
- release alpha-version of proprietary "BTU Wallet" functionality
-the release of BETT wallet beta functionality
-the release of P2P betting functionality – first P2P bets on Bettium platform
- Start the first betting tournament to celebrate the beta
launch of the platform
- 7Q1-Q2 2019
- the rollout of HyBer test network for developers
- initial testing of consensus POS in the HyBer test network
- Development of Merlin protocol for off-chain transactions using
lightning network protocol (network scaling)
- The launch of the full-scale marketing campaign
- The launch of AL League and 2nd betting tournament tied to the full
rollout of Bettium platform
- first public wagers
- 8Late 2019
- The announcement of additional features driving future growth
- The final release of private blockchain and BETT wallets