Faireum Breeds better Performance in Decentralized Gambling
The gambling industry began full-scale activities in the year 1972. At the time, major participants were students, and the first event held in the library of Stanford University in the same year. Many years after, precisely in the ‘90s, the internet was invented. Since then, the shape of gambling was twitched and online games became the latest trend.
Many decades down the line, the industry cannot actually boast of attaining the full potentials. Despite the billion Dollar investments and futuristic tendencies of clocking a trillion Dollar worth of market capitalization, the gambling industry is still at the lowest ebb, and this is because of some reasons.
A Look at the Existing Issues
Many downsides confront the industry. First, there player face restrictions on their accounts; especially, when they are within the specified regions. They also battle slow payout, hidden fees, and withheld bonuses.
For the service providers, they have a bitter taste in their mouths. Issues such as high entry fees for developers; frequent downtime in the servers and high costs of operations limit their explorations in the industry. To make it worse, many countries are yet to recognize gambling as a legal activity.
To this end, the cumbersome challenges are the reasons why players and service providers have to look up to Faireum for solutions.
What makes Faireum different?
We’ve seen many blockchain projects springing up and trying to make ends meet. However, if you nurse some doubts about the platform’s prospects, it is important to note that it provides an “escape route” from the current trends and you can you can see an in-depth analysis about this in the Faireum Whitepaper.
So, sit back as I take you through the various benefits you stand to gain when you opt for decentralized gambling on the Faireum blockchain.
Paradigm Shift
Developers who had hitherto faced challenges when publishing Decentralized Applications (DApps) are set to get hitch-free processes on this platform. It is worthy of note that the core motive behind this project is to strike a paradigm shift that will get the decentralized community ready for a new online gambling experience.
Highlights of the Project
There are many other opportunities you stand to clinch when you decide to become a user-cum apostle of Faireum’s prospects. First, it will operate an open door policy that will facilitate interoperability with fiat cyber-based casinos. Firstly the platform features thousands of games and below are some of them.
Fraud will be on the decrease, and for the umpteenth time, developers will be able to monetize their works. Third and most importantly, Faireum provides a platform that will facilitate swift activities when gambling online. In addition to this is the reduction in operations costs and hidden charges, while facilitating payouts.
Key Participants in the Ecosystem
According the the Whitepaper, Faireum operates a trinity participation framework. The players, network supporters and developers are the core users of the platform.
Developers herein imply companies and private individuals that can set their DApps running on the platform, and also stand the chance of earning from their apps. There is also the tendency of getting rewards from the network – especially for developers that contribute to the growth of the platform.
There are four distinct network supporters, and each receives tokens a reward for their contribution. First, “block licensers” are vested with the responsibility of issuing licenses to blockchain projects that want to take part in online gambling.
Block Producers also known as “Supernode” will contribute to the validation and creation of new blocks. In the event that the chosen block was confirmed by the network, block producers will get token rewards.
Distributors take charge of the distribution of services to players. Finally, “block partners” vote block producers.
Apart from these, the final participant in the network is the user. They are meant to part with specific amounts of tokens (network fees) before they make use of any service on the platform.
Technology
The overall mission of the Faireum project is to provide transparency, efficiency, and security to online gambling. In addition, it is keen on creating a decentralized, server-free and transparent gamble system.
With the aid of the WASM virtual machine that powers its smart contract, Faireum has the capacity to strike interoperability with online gambling.
Roadmap
Token Allocation Information
Crowd-Sales: 55%
Team Members, Advisors and Developers: 10%
Reward Pool: 20%
Founders: 5%
Marketing: 10%
Token Specifications
Token Name: Faireum Token
Symbol: FAIRC
Platform: Ethereum
Token Type: Utility
Token Supply: 1.2 billion FAIRC
Soft Cap: 2.5 million Dollars
Hard Cap: 25 million Dollars
Accepted Payment: Ethereum (ETH)
Exchange Rate: 1 FAIRC equals $0.05 Dollars
Country of Registration: Singapore
Restricted Areas: China and the USA
PARTNERS
Fair Gambling
As the first four (4) letters suggest, Faireum is indeed “fair’ to players. With the right infrastructures in place and a network of users that are willing to drive its cause, there is no gainsaying the fact that Faireum is working on the premise of fairness in online gambling. Additionally, the team are a group of experienced individuals in their various field, at last count, there were Twenty One Team members and Four Advisors in Faireum.
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