Name/Token Symbol:BLOCKBUSTER (BBX)
Number of Tokens: 100,000,000,000
Hard Cap: 40,000,000,000 BBX
Website Url: blockbusterlottery.io
White Paper Url: https://blockbusterlottery.io/whitepaper/BLOCKBUSTER_Whitepaper_US.pdf
With a current market cap of about $15 billion, the online gambling industry is without a doubt a significant and quite popular market. Sadly, despite this steady growth and opportunities for expansion within the space, the market is still laced with several problems; from a high probability of manipulating results to low accessibility due to regulatory and payment restrictions, as well as challenges bordering on trust. Will participants be paid on time or at all if they eventually win? These are some of the challenges facing conventional online gambling systems.
Additionally, the fact that funds and user information are typically stored on centralized servers make online gambling sites a honeypot for hackers, thereby increasing the risks of security breaches.
BLOCKBUSTER is a decentralized online gambling platform that seeks to solve the afore mention problems associated with traditional online gambling systems. The network uses blockchain tech to enforce transparency. Users can verify the drawing process and confirm that betting is not manipulated. Upon winning a game, the digital balance will be instantly available for withdrawal.
Quoting the project’s whitepaper:
“BLOCKBUSTER’s drawing process utilizing hash values obtained from the blockchain is operated and open transparently to the users for the reviewing. The computation of the algorithm is executed on the blockchain which significantly reduces the risk of being hacked. Simplified payment method is applied to the system so the user threshold to the participation is greatly lowered.”
There are three core aspects of BLOCKBUSTER’s solution, all powered by the platform’s local currency, BBX. They include BLOCKBUSTER LOTTERY, BLOCKBUSTER GAMES, and BLOCKBUSTER BETTLE. Participating in the game can be also done using BTC or ETH (but using BBX has a discount of 1%).
Each of these aspects represents a well-structured game and opportunity for players to win amazing prizes (if they are lucky enough).
Similar to the traditional lottery, for example, BLOCKBUSTER LOTTERY is a decentralized service where participants can a buy lottery ticket using either BBX, BTC or ETH, amongst others. Thereafter, a four-digit number will be generated and a lucky winner selected. BLOCKBUSTER GAMES, on the other hand, has sub games like Dice, Ladder and Hearts & Spades.
In general, all prize money is paid in BTC irrespective of the payment option used when participating. The project also has a buyback program in place to promote growth and stability. 70% of all profit generated from the platform will be used to buyback BBX from exchanges.
BLOCKBUSTER has 8 individuals on its team. Headed by John Kim, the team has experience cutting across software management, business development, finance, and software engineering.
BLOCKBUSTER is just starting out and so far, they have been able to reach their design and economics milestones. Upcoming milestones include the release of their lottery service, BLOCKBUSTER games and BETTLE, all scheduled for 2019. It is also worth noting that BBX has been listed on a top-10 exchange and plans more listing in this year. This will help fuel the development and adoption of the crypto.