Faireum provides a sports betting facility without a bookmaker, which acts more as a betting exchange. Many bettors are unaware of the opportunities of trading with betting exchanges rather than with bookmakers. A betting exchange, apart from offering more opportunity for a bettor to trade their position, provides more value and more flexibility by allowing bettors to set their own RTP. The resulting impact of the emergence of betting exchanges was the disruptive nature that they brought to the betting industry, as more and more bettors realize their value as compared to traditional bookmakers.
Betting exchanges provide a platform for bettors to trade the results of specific events, whether these are current affairs, politics or sports-related. The main difference between the traditional bookmaker and a betting exchange is that a betting exchange allows bettors to bet against each other and not against a bookmaker. Betting exchanges have since allowed
users to place bets on each other or set their own RTP, replacing a model made up entirely of gaming options and RTP restrictions offered by gaming companies. However, compared to traditional bookmakers, betting exchanges in operation are few, therefore limiting the choices available to bettors.
Faireum is a public blockchain with a set of protocols, which focuses on the gambling industry and provides a decentralized, low cost, transparent, and secure betting and gambling experience. Faireum uses its own native currency and smart game contract to
guarantee a superb and premium betting experience and services in lotteries, sports betting, casino games and other digital games to users. Faireum releases a smart client based on the set of protocols for the creation of a trustful, borderless, secure, and fast online gambling network that benefits all.
Faireum has developed a competitive public blockchain based on the best practices of Bitcoin, Ethereum and Hyperledger. The consensus algorithm adopted from the Byzantine fault tolerance based delegated proof of stake (BFT-DPos) assures the verification of transactions on the Faireum Blockchain as well as its performance.
The protocol we are working on is a set of the standards used for gambling DApp on the
Faireum Blockchain. It is also compatible with all of the WASM blockchain contracts written by a high-level programming language and implements Faireum protocols. The first version will be released at the end of 2019. It will keep on evolving together with the Faireum ecology, and will be the key component to bring a next-generation, unbeatable gaming experience to the user.Faureum's mission is to enable the next generation of many-to-many gambling and betting applications. By building on top of existing blockchains, our applications will be able to be deployed in a peer-to-peer environment, with complete fairness, transparency, and visibility.
We believe Faireum is revolutionary and will change everyone's expectations of how fair and fast applications and gaming can be. Website- https://faireum.io
Whitepaper- https://faireum.io/assets/files/Faireum_whitepaper2.0_En.pdf
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