View source for Faireum

'''Faireum (FAIRC)''' is a public [[blockchain]] with a set of protocols, which focuses on the gambling industry and provides a decentralized, low cost, transparent, and secure betting and gambling experience. It has its own native currency and [[smart contract]] to ensure a one-of-a-kind gambling experience. Faireum releases a smart client-based on the set of protocols for the creation of a trustful, borderless, secure, and fast online gambling network that benefits all. 

== History ==	
=== Origin ===
The online gambling industry has been unstable over the years due to several host issues and inefficiencies. Players, developers, and service providers lack trust with each other because of multiple intermediaries, high fees, and unintuitive user experiences. Faireum saw the urgent need to overhaul of the whole online gambling system. A major solution to a fair and modern gambling system is a decentralized gaming platform that leverages the advantages of blockchain technology. 

=== Milestones ===
Faireum has developed a competitive public blockchain based on the best practices of [[Bitcoin]], [[Ethereum]] and [[Hyperledger]]. The consensus algorithm adopted from the Byzantine fault tolerance-based delegated [[proof-of-stake]] (BFT-DPos) assures the verification of transactions on the Faireum Blockchain as well as its performance. The protocol of Faireum is a set of standards used for gambling DApp on the Faireum Blockchain. It is also compatible with all of the WASM blockchain contracts written by a high-level programming language and implements Faireum protocols. The first version will be released at the end of 2019. It will keep on evolving together with the Faireum ecology and will be the key component to bring a next-generation, unbeatable gaming experience to the user. 
The mission of Faireum is to enable the next generation of many-to-many gambling and betting applications. By building on top of existing blockchains, our applications will be able to be deployed in a peer-to-peer environment, with complete fairness, transparency, and visibility. We believe Faireum is revolutionary and will change everyone's expectations of how fair and fast applications and gaming can be. 

=== Token Sale ===
1.2 billion Faireum tokens will be issued during the Presale and the main token sale event. Each Faireum Token will initially be mapped into one corresponding ERC20 token on the Ethereum ecosystem as the Faireum ecosystem is being developed. 
There are three major participants in the Faireum token economics: users, network supporters (nodes), and developers. Faireum will also build a marketplace on FSN for listing games and Dapps. 
Before the public release version of the Faireum blockchain, all Faireum tokens will be minted based on the ERC20 standard on Ethereum. In the first release version of Faireum, the genesis block would produce the same amount of coins for 1:1 exchange between Faireum and Ethereum. Faireum tokens on the blockchain will be the main circulating token for our gambling ecosystem. Accompanied by the functional improvement and the incorporation of partners, the application of Faireum tokens will be diversified. 
In the future, Faireum token in the Faireum blockchain will become the native currency of the Faireum Environment. 

=== Faireum Price ===
The price per token is $0.05 USD = 1 FAIRC. During the pre-sale from March 25, 2019 to April 24, 2019, clients can avail 30%-40% bonus. During the public sale from June 1, 2019 to June 30, 2019, clients can avail 5%-25% bonus.

== Architecture ==
=== FAIRC Token ===
The token symbol for Faireum Token is FAIRC. Its total supply is 1,200,000,000 FAIRC. 
==== Token Sale ====
1.2 billion Faireum Tokens will be issued. Each Faireum token will initially be mapped into one corresponding ERC20 token on the Ethereum ecosystem as the Faireum ecosystem is currently being developed.

=== Faireum Independent Blockchain ===
Faireum is a blockchain platform with an Application Programming Interface (API) that is suitable for third-party business providers to access through the consensus mechanism and the Faireum Virtual Machine (FVM). The Faireum main blockchain uses the Web Assembly (WASM) virtual machine as the default runtime for smart contracts and Byzantine Fault Tolerance (BFT) + Delegated Proof-of-stake (DPos) as the consensus mechanism.
The random number from Faireum blockchain is not just data that can be deduced from the program. Combined with the block hash and zero-knowledge proofs, it is not possible to deduced or predict our random number generator by using an inverse. We refer to this algorithm as Zero Random Algorithm (ZRA).
In addition to ZRA algorithm, the Faireum blockchain is pre-configured with several other Random Number Generators (RNGs), including Faireum Random Digital (FRD), dedicated to digital games, Faireum Random Casino (FRC), dedicated to casino games, and a dynamic probability balance index generator, called Faireum Dynamic Betting (FDB), which is preset for real-time results such as sports quizzes.

=== Faireum Virtual Machine ===
			Faireum platform has an Application Programming Interface that is suitable for third-party business providers to access through a consensus mechanism and the Faireum Virtual Machine (FVM). The Faireum main blockchain uses the Web Assembly Virtual Machine WASM) as its default run time for smart contracts.

[[Category:Blockchain based platform]]
[[Category:ICO]]
[[Category:Gambling]]
[[Category:Online services]]