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Wagerr – Betting Industries Meets Decentralization


What happens when you bring an ever expanding industry to the blockchain? Decentralized awesomeness of course!

Wagerr, as the name suggests, is pushing to bring the betting industry into the decentralized realm. So, hey-ho, lets go!

The Problem & Its Solution

For any product or service to be successful it must have a real-world use case, something people need.

Wagerr, in this case, is aiming to solve multiple issues within the wagering/betting space.

Such problems are illegal wagering through crooks, illegal centralized dodgy wagering sites, ‘rigged’ centralised ‘houses’, and so on.

By pushing a complete wagering platform, Wagerr is tapping into a ‘$400,000,000,000’ market.

“$400 billion is illegally wagered on sports each year

-NBA Commissioner Adam Silver”

Decentralized Trustless Betting

One thing that really stands out is trustless betting, which solves the issues of rigged sites that are set up to make you loose.

Through the use of executable smart contracts (ASSC’s), Wagerr essentially is creating an escrow system where bets are escrowed and once the results are out, winners are paid out accordingly.

This alone is one hell of a problem in the gambling space and if Wagerr does live up to its promises then it’ll surely reduce corruption and fraud, whilst also introducing new people into the next-generation of gambling.

Oracles – Wagerr’s Forging System

Oracles are an essential part in Wagerr’s decentralized systems. They essentially “act as consensus agents that retrieve real world sporting event data and record the outcomes on the blockchain.” which is used to verify winning bidders.

Oracles also forge betting smart contracts thus allows Wagerr to process and verify bets much more efficiently.

Orace Incentive- Anyone can run an Oracle

Oracles collect 50% of betting fees, and get a fixed block reward portion in reward for their work with ‘securing the Wagerr system’.

To become an Oracle you must hold a certain amount of Wagerr, more news about this will be released by the team presumably after the ICO.

oracles-wagerr
Explained: Wagerr Oracles
    • It is also quite important to note that there will only ever be 2000 Oracle spots in exsitance.

Value Coupling –

Wagerr’s coin value is deependant on it’s user base, as more people use Wagerr, more bids are placed and since each bid placed burns an X amount of Wagerr coins, Wagerr’s supply drops and scarity drives the price up.

Therfore if Wagerr does go mainstream one day, it’s price tag will be much more than when it first started, and thats exactly what investors want!

Application Specific Smart Contracts

A new and unique feature Wagerr introduces is ASSC techonlogy (Application Smart Contracts);

ASSC’s are created for a single purpose in the Wagerr ecosystem and work synchronously with Oracle Nodes to confirm a certain thing such as who won X race; in this scenario an ASSC is created and relays it’s message to an Oracle node.

Once the oracle node verifies the data, the ASSC will be terminated and in this case the bets in favour of the winning list will be rewarded.

Why do this? Well ASSC’s take very little time to verify as they are affixed to a set parameter with one job to complete thus making them much more efficient and helps keep Wagerr’s immutable nature.

Wageer’s Team – 
It seems that Wagerr has a transparent team list that are experienced in the crypot field, you can read more about their team here. Having a strong team with experience behind its back really makes the difference in developing a successful especially one that is competing with such a huge industry.

ICO Structure & Essential Details

  • There will be a total of 10 rounds in Wagerr’s ICO, each of 8.5 million coins, the ICO will be played off in the typical ‘first come, first serve’ fashion, also as the rounds progress, bonus rewards reduce.
  • Golden Tokens: Wagerr has offered an extra bonus for those who invest late, giving anyone the chance to win ‘golden tokens’ if they participate in Rounds 6-10
    • ICO Goals & Milestones: The more money raised in the ICO, the more Wagerr will be developed.
    • If Round 1 (minimal goal) is completed successfully, Wagerr will build a Head-to-Head Matching system and tokens will be issued;
    • Round 3 completion will introduce Multi-User betting to Wagerr;
    • Round 5 completion creates Direct-on chain betting;
    • Round 8 is completion will intrduce Fantasy Betting to Wagerr.
  • Escrows: The ICO will be escrowed with a total of 3 people. It will most likely be a Multi-User wallet, the escrows consist of David Mah (Wagerr Cheif Executive Officer), Steven Grove (Sigwo Technologies, President), and Visual Thach ( IT Acquired, Executive).
  • We can confirm that these escrows are real people and some of our team members have even worked with these members in the past.

The Final Verdict

Wagerr is truly trying achieve something never attempted before in crypto-history, and if the team prevails with their goals; Wagerr will reap nothing but success. Click here to learn more about Wagerr.