Betbox is a fully decentralized ecosystem acting in various DApps with the assignment to provide a fully transparent, fair and yet challenging environment for people with a passion for gambling and a sense for competition. Our users may contribute their knowledge and experience to the growing project by submitting ideas or solutions, which are ready for implementation, in return for OX. Betbox smart contracts are devel-oped to reimburse 20% of the commissions (ETH) taken by the company for betting, every quarter of the year to volunteering parties* in return for tokens to moderate the inflation of OX. 100 Mio. OX will initially be created. The closure of each bet in the betbox smart contracts will create a single OX and randomly distribute it to a user of the ecosystem. The RNG of betbox is based on issuance of future block hashes on Ethereum public mainnet. *OX holders may lock tokens into the specified smart contract to receive profit share of the period. The locked OX will be burned within the process.
OX will be used as means of payment and will be utilized to participate in certain features and bets and act as staking currency to obtain a distributed proof of authority network. We developed a smart-contract bundle based on Solidity performing all actions within betbox in an immutable and transparent way without risking any attacks We utilize pseudo-random information from the future (block hash) to execute a random number generation on the blockchain. The RNG is used for lucky games and gambling. Our oracle is used to solve disputes and to find a consensus on public matters. For this mat-ter we integrate Verity into our ecosystem in order to create a global betting infrastructure for people powered by people.