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Author Topic: WHITEPAPER OF BLOCK-RACING ICO  (Read 440 times)
Goofyman
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November 11, 2016, 06:09:47 AM
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1.What is Block-racing?

Block-racing is a car racing game based on Ethereum blockchain, a gaming platform that gamers can play and bid money on, it is also a venture that we invite you to invest in.

Game is all about fun and fairness.  But most gaming relies on centralised servers to host all the gaming data, which makes them vulnerable to attacks and hacks. Anyone with admin access would be able to forge data and tamper gaming results. Needless to say, it takes off the fun and your money, it is unfair. We are not OK with it.

Block-racing is the world first racing game based on Ethereum blockchain and smart contracts, on which data control is never placed in a single hand, not to mention wrong hands, it is not to be compromised by design.

It is as reliable as Bitcoin itself.


2.Smart contract manages your bids

Every gamer have access to his/her money in real time. Nobody hold your money, because money and gaming are coded in smart contracts that govern the gaming and ICO, not even we as devel-opers can meddle with that.

Block-racing is based on smart contracts, which means block rac-ing is self executed and game earnings are sent to gamer accounts in real time when a game session is over without human interfer-ence.

The smart contract will automatically distribute profit of gaming to digital shares of its investors.

3.We are going ICO

Block-racing is not only a game that you can participate, a plat-form that you can place money bid on, it is also a venture that we invite you to invest in. We are making Block-racing Initial Coin Offering on Nov 11, 2016, GMT.

4.Why should you invest in Block-racing?

Literally, Block-racing is a cash-flow machine that never stops running.

It is a 24*365 gaming platform. A new gaming session is conducted every 20 minutes, 24 hours, and 365 days. It never stops.

It never stops generating revenue for you as well.

5.How to join Block-racing ICO?

The Block-racing ICO will take two steps:

1.   Warrant offering
2.   Initial Coin offering

The price of a share warrant is 1 ETC, which is 20% of the ICO share (You need to buy 0.2 warrants to buy 1 share,). When ICO starts, you only need to pay 1 ETC for 1 share, which means a share is sold at between 1.2-1.4 ETC (Your investment has no risk at all because warrant is transferrable and tradable instantly on blockchain as a digital asset). Upon receipt of the warrants, we will arrange the equity contracts for you as soon as possible.

A.   If you use ETC official wallet to invest, you will receive equity warrants directly (recommended official wallet download at https://github.com/ethereumproject/go-ethereum/releases)

B.   If you use exchanges with BTC, ETH and ETC, the development team will hold the warrants on behalf of you. When the warrants are converted into the subscription shares, the development team will transfer your warrants to corresponding shares at exchange rate of the designated exchange.


5.1.Share warrant

Share warrant is an option by which you are entitled to buy the share of the Block-racing Initial Coin Offer. You pay 20% of the share price for the warrant. If you change your mind later and want to relinquish your option, you can always sell it because the option is a tradable digital asset.

5.2.You decide the ICO cap
We place the valuation completely in your hands. There is no limit of the digital assets accumulation for the ICO; you decide how much Block-racing will be worth.

The official price is 1 ETH per share and there is no minimum re-quirement for the total number of shares you buy.

All shareholders split the revenue of the entire project.

6.Warrant schedule and pricing

The warrant is offered with an Early-bird Discount Plan.
The warrant purchase starts at 00:00 AM, 1st Dec. 2016, GMT, closes at 24:00 AM, Dec 31st, 2016, GMT

0.2 ETC, 11th Nov
0.25 ETC, 12th-15th Nov
0.3 ETC, 16th-20th Nov
0.4 ETC, 21th-30st Nov

The coins used for the warrants include Bitcoin, ETH and ETC; in exchange rate at 11:00 AM, November 11, GMT, POLONIEX.

7.When to buy shares?
The share will be open for purchase when the development is completed and the game is online. The purchase window will be open for one month, which allows warrant holders to evaluate the project before making the investment decision.


8.How is the transactions completed?
Your fund will be sent to the smart contract (In the meantime, the warrant is revoked); the shares are automatically issued and immediately tradable on the Onchain.exchange Website.

9.Technical Whitepaper for Blockchain Racing Project
The core program for the game is a smart contract. Another smart contract holds the share and pays out dividends.

9.1.Smart contract of the game
The key of the project is to offer a fair random number. System timing follows blockchain time. The game interval can be modi-fied, from 5 minutes to half an hour, by administrator account. Bids can be put before each game, and can’t while racing starts. When the block time reaches a racing starting time, the racing ranking random number will be derived from that block hash. The avoid balance overflow, the payback rate is set dynamic, i.e. payback rate is (total amount put in one Pool)/ (the total amount of the winning bid), and thus no remainder is left after each game. Major bidding patterns include winner number, sum of No.1 and No.2, winner odd/even, winner big/small, etc. ETC is used as the currency for game token and dividend token.

 


9.2.Management of game shares
The game smart contract charges 1% of all biddings as service fee, which will be automatically transferred to the smart contract that manages the game shares.

The share management smart contract is a standard icowarrant.com smart contract, which follows the mechanism:

●   Warrant is issued first.
●   Development team develops the project with the warrant issu-ance income.
●   Shares are purchased after the development is completed. Fi-nal share will be issued immediately after the payment is sent.
●   Warrant and share are transferrable and tradable at any time (Both are listed in the onchain.exchange exchange)
●   The project dividends will be distributed periodically.

9.3.The Dapp client
The major function of Dapp client is racing page, bidding page, and account page, also providing game result stats and dividend history. It also provides a link to the exchange for ETC.
The Dapp will be published to ETC block chain. The Dapp pro-gram me can be downloaded from the ETC blockchain via its txids.
Also a light weight ETC wallet with web browser will be provided open source, it downloads the Dapp codes from ETC blockchain. This is a thoroughly decentralized way, with no Internet address, no centralized server. ETC transfer, warrant transfer, share trans-fer, and game bidding will be supported by this wallet.


10.How to participate in the ICO?
You can use Bitcoin, ETH and ETC to join Block-racing ICO. 

10.1.Pay with Bitcoin
Bitcoin paying address

 

1JobqE3BnMnF32QzdRgMq3vne7ajhtpXya
(This is the chbtc.com exchange center address)

Please send confirmation email to blockchainracing@gmail.com before you pay. Include your Bitcoin address and number of Bitcoins you invest.

Note: Send the confirmation email before you send Bitcoin. If you cannot provide with Bitcoin address (In case that you send Bitcoin from an exchange center), we suggest you set the number of your Bitcoin unique in digits after the decimal dot, so we know it is you.  When the Bitcoin is sent to the ICO account, it will be converted into ETC at Poloniex exchange rate at that time and your warrant.

When warrant is issued, please use the identical email address to provide ETC address for your warrant.

You can also entrust development team to hold and transfer your warrants, or use Bitcoin to buy shares (If you invest more than 10K ETC).

The future ICO will follow this manner. And of course, ETC pay-ment will be welcome.


10.2.Pay with ETH

 
ETH Address:
0x4b310acda6268bd0b55ad4f2ea80942becf0277d
(This is CHBTC.com exchange center address)

Please send confirmation email to blockchainracing@gmail.com before you send ETH. Include your ETH address and number of ETH you invest.

Note: Send email before you send ETH. If you cannot provide with ETH address (In case you send ETH from an exchange center), we suggest you set the number of your ETH unique in digits after the decimal dot, so we know it is you.  When the ETH is sent to the ICO account, it will be converted into ETC by Poloniex exchange rate at that time and your warrant.

When warrant is issued, please use the identical email address to provide ETC address for your warrant.

You can also entrust development team to hold and transfer your warrants.


10.3.Pay with ETC

 
ETC Address:
0x5301cdee52d29cdad7b422ac6a3151a57b058d79
(This is CHBTC.com exchange center address)

Please send confirmation email to blockchainracing@gmail.com before you send in coins. Make sure Include your ETC address and number of ETC you invest in your email.

Note: Send email before you send ETC. If you cannot provide with ETC address (In case you send ETH from an exchange center), we suggest you set the number of your ETC unique in digits after the decimal dot, so we know it is you. 

When warrant is issued, please use the identical email address to provide ETC address for your warrant.

You can also entrust development team to hold and transfer your warrants, or use ETC to buy shares.



11.Contact Us

Twitter: @blockRacing88
Medium: @blockRacing88
Website: www.blockracing.com
Crowdfund Mail: blockchainracing@gmail.com
Wechat Account: Blockchainracing

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November 11, 2016, 05:30:59 PM
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I think people now have too much of these ICOs but good luck though.

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November 12, 2016, 11:08:03 AM
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this good about ico selling and about detail coin
is good post to annoucement section
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November 12, 2016, 11:39:20 AM
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escrow needed? i can do the escrow.
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