About Faireum

Faireum is a public blockchain which focuses on the problems of the online gambling industry and resolves them with a set of protocols that provides a decentralized, low-cost, transparent and secure gambling experience.To achieve this, Faireum uses its token and game contract to guarantee users a premium betting experience and superb services across lottery, horse-betting, sports-betting, casino games, digital games and countless more.

Basic Information

The Industry

In 2017 the global gambling industry was valued at $533 billion, with future predictions putting that figure at 1 trillion USD by the year 2021. As the online gambling marketing continues to experience consistent growth, spurred on by the emergence of new technologies and the increased accessibility of the internet, Asia has established itself as the fastest growing iGaming market in the world.

Mission

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.

Features

Structures of Online Gambling

The internet has brought many novel approaches to betting structures, changing the gaming industry. To this day, betting remains one of the most well-known and lucrative internet-based businesses. According to H2 Gambling Capital, global online gaming revenues were worth an estimated $43 billion in 2017, making up 10% of all global gaming revenues (offline and online combined).

Basic Framework

Faireum develops its industry-level public blockchain to provide the technological basis for its platform. The Faireum blockchain ecosystem encompasses ledger nodes, P2P networking, a virtual machine for Smart Contracts and a set of rules for token distribution, which includes token reward, payment gateway, digital asset exchange and cross-chain atomic swap.

Security

Centralized systems cannot assure 100% security nor possess a high fault tolerance.

High fees

The profit model of gambling platforms makes high fees for gambling operators.

Negative social reputation

Players have a strong feeling of uncertainty and doubt towards counterparties in live games.

Faireum Blockchain Solutions

Faireum is a blockchain platform with an Application Programming Interface (API) that is suitable for third-party business providers to access through the consensus mechanism and the Faireum Virtual Machine (FVM). The Faireum main blockchain uses the Web Assembly (WASM) virtual machine as the default runtime for smart contracts and Byzantine Fault Tolerance (BFT) + Delegated Proof-of-stake (DPos) as the consensus mechanism.

Applications for business

The Faireum Smart Node (FSN) is a blockchain node that runs on the user’s computer or smartphone, which can provide both wallet functionality as a client and proxy functionality as a server.

Video

Team

Member Ishihara Yoshihiko CHIEF EXECUTIVE OFFICER Evan Dai Shore CHIEF OPERATING OFFICER Jixing Jin CHIEF INFORMATION OFFICER

[su_quote]Quote This article is writing on 17 Feb 2019 based on information available online & news portal. If you feel it’s outdated or incorrect, please write here to update it. Mail us: support@coinworldstory.com Or Whatsapp Us- +13098896258[su_quote]

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