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What is Faireum

The Gambling industry is plagued by a host of issues and inefficiencies - the result, a lack of trust between players, developers and services providers due to multiple intermediaries, high fees and unintuitive user experiences. There is an urgent need for an overhaul of the whole online gambling system. A major solution to a fair and modern gambling system is a decentralized gaming platform that leverages the advantages of blockchain technology.

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.

The Faireum team is currently developing a platform that will create a paradigm shift in the online gambling industry and solve all aforementioned issues. After the ICO, Faireum will fully implement and run a blockchain-based ecosystem with its own set of protocols, where developers can publish their own Dapps with custom features to meet Online Gambling requirements. The ultimate goal of Faireum is to remove the risk inherent in the current system by making it decentralized, transparent and trustful.

In the traditional and online gambling industry, different kinds of information like the consumption of users, related VIP level, quantity of the win or the professional estimation of capability, are collected and stored in different centralized systems. Data exchange is connected with great difficulty, which leads to problems with the evaluation of virtual assets like ranking, performance, credit, etc.

The Faireum Chain will abstract the protocol for the virtual assets, which will ensure the data structure of the storage and transfer. Virtual assets either from Faireum or from third parties will be stored permanently on the Faireum blockchain.

Additionally, the Faireum blockchain will enable other requirements from the owner of the virtual assets through smart contracts. Through the protocol of virtual assets in Faireum, virtual assets could be transferred or stored easily. Moreover, the game developers and third-party service providers could also design their own module of the virtual assets based on this protocol.