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Bettium: The Betting Platform Will Operate at Intersection of Big Data and Blockchain

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In the highly sophisticated world of online betting – an industry worth around $50 billion annually – blockchain technology has opened up great scope for improvements in gamers’ experiences online.

With echoes of a forex trading robot, the Bettium seeks to further enhance players’ abilities by approaching the arena with a unique structure. Instead of punters versus bookmakers, the key difference on Bettium is that its players versus players.

Everyone has access to data and expert opinions to be as well informed as it’s possible to be when wagering. The platform will feature an AI assistant (Merlin) that will help users make educated decisions by processing big data and presenting its forecast and suggestions in an understandable form.

Bettium is essentially a decentralized marketplace that allows smart sports bets to be made between individuals. Resident experts and the latest analytical data are both on hand for gamers to adopt more calculated strategies for winning. Both contestants or teams in a wager can access big data, AI and many potent analytical tools to enable player’s decisions. Focusing rather on enabling a different, rich UX, the platform is applying blockchain technology in ways to give users the benefit of a sophisticated analytical approach to placing bets.

Presenting as highly professional and wholly transparent, the company has taken gambling intent a step further than others. At the turn of the century, online gambling exploded, giving any punter access to almost any bookmaker in the world. Now, rather than face gambling professionals, Bettium is enabling players with the kind of data and tools bookmakers use in their own calculations.

Moreover, the company epitomizes the sort of app anticipated from the development of blockchain. Focusing on a fair and equitable platform that can enable all comers equally, Bettium is confidently precocious in its offer, and with enhanced transaction speeds, a tight wallet structure that users employ to enable wagers and reduced costs for players, it is expected that it will be well received.

What Issues will Bettium Resolve?

Although sleek, online gambling is very often simply a transference of a real-world casino into the online arena. Some aspects are improved through the elimination of human croupiers and other physical aspects of the average casino, but the majority of the benefits are for the casino itself. Gamers face the very polished, rapid and hidden technology behind any online casino or bookmaking concern. It is a given that the bookmaker is in it for their own interests. They offer odds and a punter takes them or leaves them, without ever enjoying the trade knowledge and sheer volume of resources a bookmaker will employ to offer the odds in the first place.

Statistics show that the overwhelming majority of gamers are infrequent participants.

Regular versus Irregular Betters. Source: Bettium Whitepaper

By far the majority of people placing bets on sporting events are interlopers, totally incapable of employing the analytical approach of bookies and other gaming houses. In the absence of the breakdown of the barriers between casual and professional members of the industry, the odds are wildly skewed in favor of the bookmakers.

The Bettium Solution

By shifting focus to the camaraderie between peers and building in access to the typically unseen “backend,” all bookmakers employ daily – AI, big data, and complex analytical tools – Bettium is pitting player against player. Both have access to the same resources to place the wager, and unlike employing a bookie or totalizer or any other third party authority to generate those odds, the odds arise from the P2P interaction as the two parties place their bets. Far more communal, transparent and enjoyable for many, the platform increases speed, enables a sophisticated yet elegant ease of use and also reduces costs all round. With modern sports betting being a mixture of science, strategy and new, evolving technology.

The Bettium build also addresses issues of trust, scalability and the omnipresence of the invisible barrier behind which the casino typically wins most hands. Rather than funnel the gaming public through a betting system controlled by a single third party looking to profit more than the players, by building a peer to peer platform, Bettium is enabling a large number of gamers who place sports bets around the world. The developers speak of “unprecedented flexibility and reliability.” and the construct is a subtle but still substantial departure from the norm that should appeal to millions in the community.

ICO Snapshot

  • Token Type: Utility,
  • Platform: ERC-20,
  • Symbol: BETT,
  • Private Sale: June 1-30, 2018,
  • Pre-Sale: July 1-7,
  • Token Sale: July 2018,
  • Token Supply: 1 billion,
  • Soft Cap: $7.5 million,
  • Hard Cap: 30 million,
  • Price: 1 BETT = $0.05,

A total of one billion tokens will be minted. As a cryptosphere startup, acceptable currencies to Bettium for buying in are BTC, ETH, and XEM.

The Bettium team

Bettium’s core team comprises CEO Nathan Hunt, Chief Legal Officer Brian Bellerose, Business and Technology Strategy Executive Manager Ron Lewis, Sheldon Bennet on Blockchain Analysis, CTO Alex Kamilov, App Engineer Dan Hunt, Alice Douglas in charge of investor relations and Full Stack Developer Edward Luque.

Advisors who are aiding the team in rollout include Peiwei Ni, the Chairman and CEO of Super Block, Crypto Market Advisor Alexandru Radulescu, the CEO of Findo Gary Fowler, and Maury G, an APAC consultant.

The company is European but will service the globe on its platform. The developers have a strategic plan for disbursement of funds raised, with an eye on ensuring scalability and improvement post-launch.

Conclusion

The Bettium platform comes at gaming from a different angle, but one that is sure to have wide appeal due to its democratic build and a transparent cap on losses. Moreover, the inevitability of doing it alone that comes with online gaming is broken – a big plus – with the introduction of the P2P model. With greater transparency in play, greater camaraderie and a sense of empowerment other venues cannot offer within the standard model and arrangement of players in the wager; the ICO is set to experience good uptake. The betting tournaments in which prize money will be paid in BETT tokens is planned for early 2019, with a prize pool of approximately $1 billion at the prevailing exchange rate.

The backdrop is the billion-dollar online gaming industry. The reality of greater foresight and control over outcomes is sure to attract droves of gamers who will begin making the features Bettium offers a new industry standard. The company’s homepage says it all:

“BIG DATA AT WORK FOR YOU – Analytical Blockchain Platform for P2P Smart Betting.”

With not only the data but the tools to strip it something of a novelty for individual gamers, the company’s offer is apparent.

Investors are advised to do their own homework before buying into any ICO, but as a member of a super healthy industry, pitching a different take on things that incorporates a vast improvement on UX, the ICO is rated a definite buy.

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China’s Tsinghua University Partners with Ripple to Create Blockchain Research Scholarship Program

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From the moment that Ripple first launched its platform, it has been looking for ways to spread cryptocurrency and their own products throughout the industry.

They have even managed to cross a major milestone as they established over 200 partnerships involving 40 separate countries. One of their most recent partnerships involves Tsinghua University, in an effort to launch a new scholarship program that will educate students in China.

While China has held a strict anti-crypto stance, the same has not been true of blockchain technology.

The program, which will be called the Blockchain Technology Research Scholarship program, is the combined venture of Ripple and the Tsinghua University Institute of Financial Technology (THUIFR). This university is one of the top schools in all of China, though THUIFTR was not started until 2017. It has been a collaborative effort between Institute for Interdisciplinary Information Sciences, PBC School of Finance, School of Software and Law School at Tsinghua University.

As students participate in the program, they will learn about the ins and outs of blockchain technology. On Twitter, THUIFR claims to have already hosted a seminar, titled “Innovation and Development of Digital Currency and its Regulatory Path.”

The partnership with Ripple will allow the program to launch in China, focusing clearly on the international regulations that govern the blockchain. Ivy Gao, the Director of International Cooperation and Development for THUIFR, said,

“Most importantly, I believe, this program will greatly help with their future research or career in the field of blockchain technology.”

The SVP of Global Operation at Ripple, Eric van Miltenburg, said,

“The program’s goal – to provide students with opportunities in blockchain research – closely aligns with that of Ripple’s University Blockchain Research Initiative. We’re thrilled to support THUIFR in this endeavor and look forward to its launch.”

Ripple has created an impressive reputation for itself as a major player in the fintech world. There are multiple banks using its xRapid product as their own blockchain solution, with more being added as the word spreads. However, it is perhaps the unique philosophy of Ripple’s platform and products that appeals to China, considering the substantial difference from that of Bitcoin’s ideology.

Their token has become the second-most valuable crypto asset, which could be due to the pattern of collaboration between financial institutions, governments, and universities.

According to the most recent data provided by CoinMarketCap, Ripple is presently being traded at $0.3175, ranking second by market capitalization.

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Bitcoin

Was November the Last Big Bitcoin Sell-Off? Trader Expects Slow Grind in 2019

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By CCN.com: According to a trader and crypto technical analyst, November 2018 may have been the last sell-off of Bitcoin and a long consolidation period is expected throughout 2019.

Since experiencing a steep 13 percent drop on January 10 from $4,036 to $3,502, the Bitcoin price has been relatively stable in a tight range in mid-$3,000.

Chart from TradingView

What Does Low Volatility Mean For Bitcoin?

While it seems as if the price of Bitcoin has been volatile throughout the past two weeks, the volatility of the dominant cryptocurrency occurred in a tight range between $3,500 to $4,000.

No major movements below or above key support and resistance levels were recorded, preventing any meaningful short-term price movement.

One trader said that if the trend of relatively low volatility in a tight low price range continues, the sideways action of Bitcoin will extend throughout the year, resulting in a long consolidation period.

“The longer this sideways action takes place the more I think the bottom is in. November was one of the worst monthly candles in history. It’s very possible that was the last of the major selling and now we’ll have a consolidation period that lasts most of 2019,” the trader said.

bitcoin price
The trader is predicting bitcoin to trade sideways through much of 2019. Pic: Shutterstock.

On Sunday, Bitcoin recorded a six percent drop against the U.S. dollar in a 24-hour period from $3,700 to $3,470. The asset has since recovered above the $3,500 mark and based on the performance of the asset in the last 48 hours, Bitcoin is expected to demonstrate stability throughout the week.

Hsaka, a cryptocurrency analyst, said:

Inside Bar; Low that was taken out (3480) holding as support; Continue leaning neutral here, can’t short HTF support, will wait for a break (even moreso when confluent with that CME gap).

A slow grind upwards in the first two quarters of 2019 could allow Bitcoin to establish a proper bottom and a mid-term trend reversal. If the price of asset recovers quickly in a short time period, as seen in the major sell-off of cryptocurrencies in November 2018, it can leave the asset class vulnerable to a large short-term correction.

With events that are considered as catalysts to fuel the momentum of Bitcoin in the first two quarters of this year including Bakkt and Bitcoin exchange-traded fund (ETF) far from being materialized due to the shutdown of the U.S. government, it has become more likely for the cryptocurrency market to demonstrate a low level of volatility in the upcoming months.

How About Alternative Crypto Assets?

Historically, alternative crypto assets, especially low market cap cryptocurrencies, have tended to perform strongly against Bitcoin when the asset is in a sideways market.

However, as seen in the performance of tokens and other major crypto assets in the past 48 hours, the stability in Bitcoin is unlikely to trigger short-term rallies for assets with lower volumes and valuations due to the current conditions of the market.

Some analysts believe November to have been the last sell-off for Bitcoin and expect a several-month-long consolidation period to occur.

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Dow Futures Prep for Opening Bell Plunge as Bitcoin Price Turns Volatile

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By CCN.com: The US stock market returns to action this morning following Monday’s holiday break, and the Dow is gearing up for a triple-digit loss at the opening bell. The bitcoin price, meanwhile, experienced a jolt of volatility ahead of the US trading session to break out of what had previously been a relatively calm day for the cryptocurrency market.

Dow Futures See Triple-Digit Pullback

As of 8:29 am ET, Dow Jones Industrial Average futures had declined by 144 points or 0.58 percent, implying an opening-bell loss of 135.35 points. The broad S&P 500 and tech-heavy Nasdaq also steeled themselves for losses at the open, with futures for the two indices down 0.60 percent and 0.68 percent, respectively.

dow jones futures nasdaq S&P 500
Dow Jones Industrial Average (blue), S&P 500 (red), and Nasdaq (orange) futures declined on Monday and Tuesday ahead of the week’s opening bell.

With the US stock market closed on Monday in observance of Martin Luther King Jr. Day, futures trading had nevertheless portended Tuesday declines. As CCN reported, China published its official GDP growth statistics for 2018, which showed that the world’s second-largest economy had expanded at its slowest pace in 28 years.

That data emboldened US President Donald Trump, who implored China to “stop playing around” and “finally do a Real Deal” that would end the ongoing US-China trade war.

“China posts slowest economic numbers since 1990 due to U.S. trade tensions and new policies,” the president tweeted on Tuesday. “Makes so much sense for China to finally do a Real Deal, and stop playing around!”

Hu Xijin, the editor of the China-based Global Times, responded to that tweet with a warning that Beijing won’t sign an “unequal deal,” even if the country experienced negative economic growth.

“China has hoped to reach a reasonable trade deal with the US. When China’s GDP grew at double digit rate, we wished China-US relations go well. But if the US forces China to sign an unequal deal, Beijing won ‘t yield even it is a negative growth, let alone 6.6%.”

Meanwhile, the March 1 end to the US-China tariff truce continues to inch closer, placing more pressure on the two economic superpowers to find common ground.

Bitcoin Price Turns Volatile on Tuesday

Though not on a holiday itself, the cryptocurrency market had been relatively calm on Monday following Sunday’s moderate pullback. This morning, though, bitcoin and its would-be peers have begun to regain a bit of their characteristic volatility.

bitcoin price
A relatively calm bitcoin price broke out of its slumber on Tuesday, at least for five minutes.

After range-trading between $3,550 and $3,500 for most of the day, the bitcoin price took a sudden drop shortly before 11:40 UTC, slipping as low as $3,401 before recovering above $3,520 in a whipsaw movement that took less than five minutes. As of the time of writing, the bitcoin price sat at $3,557 on Bitstamp, about $33 below its intraday high of $3,590.

Day-over-day movements were relatively muted throughout the wider cryptocurrency market. The ripple price (XRP) declined by 1.22 percent to a global average of $0.317, while ethereum, bitcoin cash, EOS, litecoin, and bitcoin sv all moved by less than 1 percent. Stellar, whose price often moves in tandem with ripple, declined 1.33 percent to $0.102, and tron outperformed the index with a 4.51 percent jump to $0.026 that was likely connected to the announcement that TRX holders would earn an airdrop when the new BitTorrent cryptocurrency arrives.

Altogether, the cryptocurrency market cap — which measures the aggregate valuations of all cryptocurrencies — stands at $119.7 billion, representing a 24-hour increase of around $100 million.

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