Review MEvU Proejct
MEVU is a decentralized platform that allows users to start bets with anyone. Basically, you can bet to see who will win the next NASCAR event or who will be the first to finish an exam. Anything that has a hidden outcome can be used for MEVU to create a bet.
Traditional ways of online betting are expensive to both the sports book and its users. The user gives up control and flexibility while accepting a lot more risk than that of just losing a bet. Players are forced to trust centralized sports books which are subject to government interference, fraud and hacking due to a centralized single point of failure. This all contributes to the negative stigma that surrounds online betting.
meVu is focused on abolishing this stigma and making betting fun again by bringing it back to the basics, between people the way it was meant to be. meVu allows people to bet on anything, anytime against anyone. Custom/social bets against friends are a possibility such as; who can drink the fastest, and who will win the next round of golf. If your friends are not around make new ones by finding or creating sports bets on the global meVu network. Creating your own odds, puts control, fairness and power back in the player’s hands. Global leaderboards foster competition and up the ante while heightening the thrill and excitement of betting against other players as opposed to sport bookies. Powered by the Ethereum blockchain these bets are all on a trust-less open source network that securely pays winners completely cutting waiting times and lowering fees from 10 to 2 percent.
- The platform uses the Ethehreum blockchain that utilises smart contracts which allows for transparency and increased security.
- The elimination of bookies and 3rd party institutions accelerates the rate at which players receive their funds. The automatic pay out system ensures that bets are paid out at an incredibly low fee.
- The token is set to receive accelerated growth. Though not guaranteed, the team intends to have it listed on credible exchanges after the public sale to offer an opportunity to trade it. Doing so will also increase its demand.
- The MEVU platform also eliminates 3rd party gouging which makes betting a fun-filled affair without much complications or limitations.
- Through the token there’s minimized regulatory interference which often brings about a lag in betting activities. Since the platform is decentralized, players can place their bets at any given time from wherever they are.
- Competition is foster due to the global leader boards. Placing bets on this platform can be done from any part of the globe which helps bring in a competitive spirit.
MEvU is a peer-to-peer, decentralized application that matches players who agree to odds on a bet. These bets can be centred on a sporting event or users can create custom bets on anything with two possible outcomes. Running on the Ethereum Virtual Machine, meVu’s open-source smart contract creates a secured escrow that is publicly viewable. This allows players to follow their Ethereum cryptocurrency “ETH” throughout every step of the betting process. Creating peace of mind that once the winner is determined the Ether will be paid out quickly, securely and automatically. All funds are held within a contract on the blockchain and no individual, company or government can interfere with the payout. meVu virtually eliminates the risk of hacking and regulatory interference as there is no single point of failure in a blockchain network. By clearing payouts on Ethereum, meVu can cut the waiting times of traditional sports books while reducing fees from 10 percent to as low as 2 percent because it is never processed by a bank or any 3rd party institution.
Our platform pairs people to compete against each other, removing the need for meVu to fund and back bets. Disputes between players on supported sports games are sent to Oracles who are incentivized to reach resolution through consensus. Furthermore, reputation systems and leaderboards foster the spirit of competition and deter malicious behaviour.
This diagram illustrates the intended structure of the meVu platform. The foundational layer is the Ethereum blockchain on which a network of smart-ontracts run upon. The meVu team will retain ownership over some of these smart contracts to control some aspects of the application such as which events will be supported by oracles, the registration of verified oracles and the ability to tweak a few important variables which may need adjusting. The rest of the smart-contracts will be owned by a central contract not visualized. Operating above the Ethereum Virtual Machine (EVM) layer are the traditional back-end components to any web service. These servers will hold application data to expedite front-end operations as well as the minimum required amount of user information to ensure no user is able to pose as multiple people. Finally, the top layer is the user interface where players can actually browse events and place bets. At launch this interface will be a web-browser application, a mobile version is planned for a later release.
Disrupting the Sports Industry:
When it comes to sports betting, there are a lot of operational costs and additional fees that must be applied before one can bet for a possible outcome. Clients have to pay these high fees because they have to deal with 3rd party institutions.
Also due to security vulnerabilities, regulatory repercussions, and the chances of personal information being exploited, operations and players are at risk of losing their funds. Despite these issues, there is over $400 billion sold in betting and 99% of its illegal.
MEVU solves this issue by creating smart contracts on Ethereum’s blockchain. This helps transparently and immutably store players information and funds, giving players increased confidence when it comes to betting. It allows the bet to occur quickly and securely.
Additionally, MEVU makes betting a friendly, fostering competition that matches players against each other instead of an anonymous bookie. Plays can be on virtually anything and set their own odds.
Since it cuts the costs of 3rd parties and traditional sportsbooks, MEVU players will always have a 2% transaction fee. Because of this, you can use MEVU as a platform for safe and entertaining betting.
Token Sales Detail:
MEVU will be having their initial token offering starting on 22nd January 2018. The following are the ICO details:
PreICO Price: 1 MVU = 0.18 USD
Price: 1 MVU = 0.34 USD
Minimum investment: 10 USD
Soft cap: 2,000,000 USD
Hard cap: 15,300,000 USD
Whitelist/KYC: KYC & Whitelist
Restricted areas: China, USA
For more information:
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1939693