Upcoming ICO: Betrium – expectations are high ahead of ICO
Positioning itself as the answer to a chain of ‘problems’ in the existing gambling industry and the ‘future of gambling’ – can Betrium’s partly decentalized betting service live up to expectations ahead of its upcoming ICO?
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What’s the problem?
According to its whitepaper, there are a host of issues that plague betting services. From the lack of worldwide accessibility and withdrawals only available in certain countries, to the inability to accept cryptocurrencies, high commissions and the taxing of personal income. Betrium also highlights the slow processing of bets due to the reliance on Ethereum blockchain, as well as the volatility of cryptocurrencies.
The Betrium team says its technology will turn these disadvantages around with its platform that provides zero commissions, eliminates taxes and provides profitable odds.
To combat the slow bet processing, Betrium is not just powered by Ethereum but accepts cryptocurrencies from around the world, processing bets faster and stabilizing the unpredictability of cryptocurrencies.
Due to be launched between July and August 2018, Betrium will also provide a platform for event organizers to create their own events, matches and games on the blockchain. Developers will have access to Open API, allowing them to create their own apps and betting bots, resulting in an even broader range of uses for the Betrium platform.
Bets placed outside the blockchain
All bets occur ‘off-chain’ and are only added when the event has happened and the outcome cannot be changed. The bets are broadcast over the network straight away and the odds are recalculated. This allows for high-speed processing, made possible with the decentralization of the platform.
Betrium’s ICO is expected to raise in the region of $5 million and will run from 26th March – 29th April. 45 % of the BTRM token supply will be distributed in the ICO, this is equal to 63,000,000 BTRM. There is a soft cap set at 1,200 ETH and a hard cap of 22,000 ETH. BTRM tokens will be listed on the exchange after the sale is complete.