GENATUM: BLOCKCHAIN CASINO AND SPORT BETTING PLATFORM
BACKGROUND
Genatum is now listed for trading :
https://crex24.com/exchange/XTM-BTCBlockchain technology has come a long way, and the trustless public ledger afforded by the advent of the blockchain has enabled many online gaming platforms to deliver value to its customers. GENATUM aims to redefine the user experience by ensuring that all online games are brought under the roof of one blockchain platform with ease of play for all stakers, allowing a seamless process process that builds trust and confidence, with instant payout of winning upon verification. The GENATUM platform shall have Fairness, transparency and clean-play are the watchword. The GENATUM platform will also provide all casino games like blackjack, video poker and slots. Also, sport betting will be featured, covering all major sports. GENATUM will partner with reputable service providers, using their secured API’s for accessibility. Also, roulette and baccarat will be featured on the platform.
The new blockchain technology has heralded an array of innovative asset classes and crypto currencies like Bitcoin, Ethereuem, Litecoin etc that has enabled the use of decentralized ledger protocol computing in online gaming. The Ethereum blockchain in particular has enabled the creation of tokens for any kind of project, including online blockchain-based gambling. The beauty of decentralized blockchain technology is that it is open-sourced, enabling independent parties to participate in the confirmation of transactions. The GENATUM project is based on the Ethereum protocol, and the GENAT token, XTM is the ERC 20 token standard application on the platform for use in staking and payout. The international online gambling industry has grown in the last couple of years, and a large number of blockchain based online betting platform also have emerged on the back of this development. Recent studies have shown that the global online gambling industry has increased by the billions in the last five years. Since data mining and calculations in the informal betting industry is hard to ascertain, it is really not possible to put a verifiable figure on the size of the market. However, it is projected that by 2020, the combine formal and informal betting market will be worth somewhere around USD5 trillion annually. Much of these markets exist in the western continent of Europe and North America. However, the Asian market is also big, especially with big casinos springing up in Macau and Hong Kong. Infact in certain areas of sport betting, countries like China, South Korea and the Arabian Peninsula are top leaders. The recent winter Olympics in South Korea saw huge surge on online sport betting. This momentum is projected to continue leading up to the 2018 Fifa World Cup and the Rugby World series. Also, betting momentum has increase in the ATP and WTA tennis circuits, with the highest online bets placed during the last Australian Open tennis Grand slam this past January. In the UK and India and some parts of Africa, online gambling in cricket matches have grown exponentially, with the result being that many new platforms have been launched to meet the needs of these new converts.
THE GENATUM PLATFORM
GENATUM seeks to create a decentralized online casino that provides solution to most of the issues observed in many online casino. The GENATUM platform utilizes smart contract to automate all games such that they can be verified on the public network and hence trust can be built on it by members of the community. Hence effectiveness and efficiency is achieved as this would be developed using the secured Ethereum infrastructure. One of the persistent problem in the online betting and gambling industry is that betting odds have more often than not been stacked against the customers. In some instances, the phenomenon of ‘house edge’ has ensured that the operators of the gambling platform have considerable advantage over the betting public. In some cases, some operators have hidden charges and also tweak the system in order to ensure that overall long term interest in put ahead of the consumers. Fees structure are difficult to understand and a lack of transparency in the operations have been a bane of this industry. GENATUM offers a whole world of new experience, enabling for renewed confidence in gambling enthusiast. The GENATUM platform enables the financial requirements to be fully met, ensuring that various parties at different location in the world can bet and play without the need for a central trusted authority. Safety, global betting liquidity and fairness is guaranteed.
THE GENAT TOKEN, XTM
The GENAT Token, XMT is an ERC20 token standard token and it shall be utilized in all game play on the platform, and winning shall be paid out in same. The coin shall be traded on major cryptocurrency exchanges, LIKE KUCOIN, HITBTC, YOBIT AND COINEXCHANGE. The token has a limited fixed amount which is created by an Ethereum contract at point of deployment. The growth in value of the token over time will ensure that all participants enjoy the immediate and future economic gains associated with the platform. GENAT TOKEN, XTM will be used for all economic activity on the platform.
Since the supply of GENAT Token, XTM is limited its value is directly proportional to demand. One of the remarkable features of the Genatum platform is that its license permits an operator to easily set up and host their own casino under a private label. Individuals or organizations will be able to select games from a marketplace and offer them to their players. Genatum has design an ingenious referral program which provides various different levels of referral for affiliates.
GENATUM PROVIDES COST EFFICIENCY
Blockchain transaction cost has become an issue in recent times and many innovative technological protocols have been developed to handle these issues. Segwit and a few others are recently examples of these. In the ethereum space, gas prices have posed a serious problem to the growth of online gambling platform. Hence GENATUM will develop a software system which allows a series of offchain transaction processing to complement and esure faster processing times of betting. Many online betting technologies, including RNG have been shown to be deficient in certain areas of security and fairplay. GENATUM Servefair gaming technology is a technology that provides safeguard to all concerned. A series of artificial intelligence protocol, coupled with cryptographic algorithm with unique sign on signature will be utilized for 100% security of the platform.. This can be done by clicking on the GENATUM Servefair button in your game window.
WHITEPAPER
The full whitepaper for this project is currently being developed and shall be ready in about 90 days from the date of the publication of the bitcointalk thread. Some of the elements highlighted here for the project will be fully incorporated into the whitepaper.
MOBILE DEVICES
The GENATUM Platform shall be deployed on mobile platform, and it will be available on Apple Store, Google play store and any phone running the android operating system.
Social media:
web:
http://genatum.iotwitter: @genatumgame
Explorer 1:
https://etherscan.io/token/0x0fb1660419476634609bd6cac0d13d7eb7e6ce24Explorer 2:
https://ethplorer.io/address/0x0fb1660419476634609bd6cac0d13d7eb7e6ce24Github:
https://github.com/GENATUM/ONLINE-GAMING-AND-BETTING-PLATFORM/blob/master/README.md
