Bettex Coin

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Bettex Coin

A decentralized betting exchange

 

Project’s main idea is to set up a decentralized betting exchange based on the blockchain, where a cryptocurrency Bettex coin (ticker BTXC) will be used as a means of payment. The “Bettex project” is aimed to solve the existing problems and make bets via the Internet more accessible to the broad masses. It will take the game industries to a new level.

It will follow the principles of decentralization, a distributed network, cryptography, etc. Project will eliminate many problems of the gambling industry by using the basic cryptoindustry concepts in “Bettex project”. Bets with “Bettex” will become more available, reliable and secure.

Bettex coin is a digital cryptocurrency with POS/Masternodes implementation, developed on the Xevan algorithm and used on Bettex platform.

Bettex project features

For real use
Bettex Coin will be the means of payment for the decentralized betting exchange “Bettex”

Implementation
Bettex Coin – is a digital cryptocurrency with PoS / Masternodes implementation.

Masternodes
Masternodes are a decentralized network of node supporting the Bettex Coin network.

Blockchain Technology
The Decentralized betting exchange “Bettex” will be based on the blockchain.

Next generation
Bets with “Bettex” will become more available, reliable, private and secure!

Immutability
Once stored, data can’t be changed or deleted.

 

Problems of betting platform’s

Though the betting exchanges have a lot of advantages, they also have some problems with the centralized data processing and storage system. Today, gambling companies constantly face numerous problems:
– The dissatisfied payment systems. Mainly, the problems of the regional limited acceptance and delays of payments;
– The high banking fees. The online payment systems offer excessively high banking fees, which are unreasonable for the gambling business;
– The third parties’ involvement in the payments increases the transaction commission, which is covered by the means of gamblers;
– A lengthy verification process, which can take up several days.

Solutions brought by Bettex project

The project will eliminate many problems of the gambling industry by using the basic crypto industry concepts in “Bettex project”, including:

  • Different fraudulent activities;
  • Processing problem;
  • Fault tolerance problems;
  • Private access problems;
  • Lengthy time verification;
  • The risks of using the third parties to replenish the account balance and storing their funds in third-party companies.

 

Bettex

The decentralized betting exchange will be based on BigchainDB, that combines the main features of building databases and blockchain. BigchainDB is a software with the block properties (e.g. decentralization, immutability, owner-controlled assets) and database properties (e.g. high transaction rate, low latency, indexing and querying of structured data). This combination makes BigchainDB useful for a wide variety of use cases.

Project developers have made significant improvements in the BigchainDB, including the integration of Tendermint for the inter-node networking and Byzantine fault tolerant (BFT) consensus. Using the best features of BigchainDB, the project will be able to develop a secure, private and fault-tolerant betting exchange.

Evaluate the advantage of using BigchainDB:

Bettex advantages

BigchainDB allows to create a full decentralized stack and integrate the existing technologies. For example, using project’s own cryptocurrency Bettex coin (fork PIVX v3.0.0.1.) for payments on the decentralized betting exchange “Bettex”.

Tendermint consensus process can make thousands of transactions per second. It will allow the Bettex to operate in a high-load mode even in the harsh adversarial conditions, with validators crashing or broadcasting maliciously crafted votes.

Bettex coin

One of the main goals of the Bettex project was to create a currency, matching all the necessary modern criteria of the crypto industry and suitable for integration into the “Bettex”.

Bettex Coin – is a digital cryptocurrency with POS / Masternodes implementation, developed on the Xevan algorithm and it uses consensus Proof of stake to validate blocks. Bettex coin is a fork of PIVX. It is capable to perform fast transactions with low transaction fees, which is an important factor for solving today’s problems in the gambling industry.

 

Masternodes of the project

Masternodes is a decentralized network of nodes supporting the Bettex Coin network. MN performs the important network functions and receives a part of the rewards per block for this. It supports Bettex Coin with processing transactions and providing network security. 5000 BTXC and a little knowledge of working with Windows or Linux are required to run the MN. Therefore, any node that has 5000 BTXC in the wallet can become MN. The reward for MN will be calculated based on the active masternode number and the current award for the block.

 

 

Coin specification

Coin name: Bettex coin
Ticker: BTXC
Algorithm: Xevan
Coin type: POS&MN
RPC port: 31471
Block time: 60 sec
Coin for PoS: 1000 BTXC
PoS reward: before 166599 blocks is 20% from block, after 10%
Coin maturity: 120 blocks
Masternode collateral: 5000 BTXC
Masternode reward: before 166599 blocks are 80% from a block, after 90%
Max Coin Supply: 50,000,000 BTXC
Minimum stake age – before 86400 blocks is 6 hours, after – 12 hours
Premine: 1,000,000 BTXC (all premined BTXC will be burnt until the block 550500)

 

Roadmap

Q2 2018
Presale Bettex MN

Q3 2018
Listing Bettex coin on exchange layer 1*
Listing Bettex coin on mastenodes.online

Q4 2018
Alpha version betting exchange “Bettex”

Q1 2019
Beta version betting exchange “Bettex”
Bettex coin wallets for Android and iOS
Listing Bettex coin on exchange layer 2*

Q2 2019
Final version betting exchange “Bettex”
Listing Bettex coin on exchange layer 3*
Mobile version betting exchange “Bettex” for Android and iOS