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BITWIN - Pushing the boundaries of blockchain iGaming Innovation

BITWIN - Pushing the boundaries of blockchain iGaming Innovation
Wednesday 30 January 2019

 The online gambling industry is growing every year. Back in 2016, the level of financial turnover in this area amounted to 41.77 billion dollars. In 2017, this figure increased to a value of 47.11 billion dollars, and in 2020, its volume may increase to 59.79 billion dollars.
Despite the rapid growth, the gambling industry is experiencing a number of problems that hinder its more rapid development, including:
  • lack of transparency, which does not allow to check the principle of the casino and its honesty;
  • high Commission for receiving the won funds - up to 9 percent;
  • the long process of transferring winnings to the player's account, which can take up to 48 hours.
The solution to these problems could be the use of Blockchain technology, but even It does not give a 100% guarantee of honesty, since the owner of an online casino can register the game code in such a way that the winnings in each individual bet are sent to several wallets installed by him.
The Bitwin platform, which uses the Ethereum network and its smart contracts to work, will be the solution to all the above problems.

Project objective

The main goal of Bitwin developers is to create an honest and secure online casino that takes care of customers and allows absolutely everyone to make sure of the honesty of the game.

Principle of operation

At the moment, one of the most important problems of the online gambling industry is the problem of trust, which developers will solve through the use of Ethereum smart contracts. These smart agreements will ensure the most honest random number generator, the results and code of which can be checked in the distributed registry of the Ethereum network at any time. It is important to note that through the use of smart contracts of this network, users will be able to check the results not only in games where they are the only participant, but also in many user games, such as roulette and blackjack.

 Another distinctive feature of the Bitwin platform will be its own Bitwin Network based on the open source code of the Raiden Network. This network provides players with a number of advantages, including:
  • financial transaction confirmation time-less than 1 second;
  • the low level of fees;
  • bidirectional channels of payment;
  • the absence of a fixed amount of the transaction.
It is worth noting that only the final result of the player is recorded in the Ethereum Blockchain, due to which the platform manages to reduce the level of transaction costs, which allows players to withdraw even small amounts.

 Within the framework of the platform, a number of gambling games will be presented with an excellent graphic design that distinguishes Bitwin from other services. These include:
  • slot machine;
  • roulette;
  • blackjack;
  • dice.
Also, within the Bitwin project, the possibility of betting on the outcome of sports events will be implemented. The results of the events will be checked with the help of a unique FansUnite Protocol, which provides for the delivery of reliable data in the shortest period of time by interested participants of the platform. This Protocol, which uses smart contracts in its work, allows to completely exclude the data processor and payment for its services, thereby providing higher payments to players.

The list of games presented on Bitwin will be constantly increasing. Each developer will be given the opportunity to present their game for placement on the site and profit. It is important to note that all games are hosted on Bitwin only after checking the site by developers and testing by users, provided that they receive positive feedback from the latter.
In addition to all of the above, one large jackpot will be played on the platform, the volume of which will constantly increase due to the transfer of 1 percent of the win amount of all games. It is important to note that this percentage will not be charged to players, but to casino operators.

The main currency of the platform will be BWT tokens, which can be used for bets and voting for inclusion in the platform of a new game. Coins can be purchased during the ICO.

Dates and details of the ICO

The developers intend to sell during the crowdsale 247 million coins at a price of 0.098 dollars per 1 BWT. The sale dates will be announced by the project creators later.
Softcap project - $ 1.32 million, hardcap - $ 18.5 million.
The distribution of tokens is as follows:

Conclusion

The Bitwin platform will allow players to enjoy gambling without worrying about the honesty of their results, the safety of funds and the long process of withdrawal of winnings. Due to this, this platform can become the best resource for players who love excitement, which will attract a multi-million audience to it. Therefore, investing in BWT coins will be very profitable in the early stages.

Official resources of the project BITWIN:



AUTHORSHIP:
GPScrypto

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