LetBet Pioneers in Blockchain to Make Online Gambling Safe and Legal in Your Neighbourhood

The global online gambling market will surpass $50 billion in 2018, creating a borderless economy the size of wealthy Luxembourg.  You can safely bet that many governments would like to be collecting taxes on this rapidly expanding market, which has doubled in size since 2011.

As long as corruption is high in the bookie-run gambling market, some governments will ban gambling, pushing gamblers into high-risk illegal gambling markets that often shut down overnight and keep players’ winnings, much to their disenchantment with the system. The self-regulating Blockchain is a promising technology to create safer, fairer gambling markets and rid the industry of the corruption that has kept gambling off the legal books.

Illegal Gambling

Fortunately, most jurisdictions do not punish players for gambling illegally, although some unlucky gamblers in strict states such as Singapore and Saudi Arabia have been rounded up by authorities. Nevertheless, the ‘illegal’ status of gambling keeps many from participating in games of chance, online and casino gambling.

The centralized gambling markets rely on third parties to take money, conduct fair play and return your winnings in a timely manner. These third parties known as ‘bookies’ have long been accused of match-fixing. Since the Chicago White Sox through the World Series in 1919, match-fixing has become more widespread and sophisticated.

In 2013, “Europol found over 380 European football matches that were fixed”. In the digital world, game algorithms can easily be tweaked and results falsified. If Lady Luck is on your side and you outsmart the house, a bookie is more likely to look for ways to limit or close your account.

Replacing the Bookie With a Smart Contract

Gambling on the Blockchain replaces the bookie with a smart contract. Players place bets directly with each other on a decentralised peer-to-peer betting system. The transparency and provability of transactions provide regulators with security in the system. Without a bookie to manipulate outcomes in his favour, the fairer system delivers a zero house edge. These innovations would favour the online gambling sector in June when the United States’ Supreme Court will rule on allowing states to legalise sports betting.  

The Blockchain is benefitting from favourable legal rulings in other areas. More gamers are winning and buying rewards and gaming assets. Typically, these assets have stayed within the game environment. Blockchain gaming worlds are allowing players to trade game assets outside of the game. A number of US court rulings have deemed these assets non-gaming winnings, and allowed players to legally keep them. In addition to swords and castles, increasingly rewards will be divvied out in crypto tokens, more analogous to cash winnings. The legalising of gambling will uncomplicate the status of these game assets.


LetBet pioneers in Blockchain chooses to revolutionize online gambling. LetBet moves gameplay onto a trustless platform. Instead of giving a third party your money, escrow is staked directly from your digital wallet. All actions on the LetBet platform are performed using the “LBT Coin”. Besides its utilitarian value, the coin’s value should increase as the LetBet market grows.

When it comes to speed and data quality, LetBet seeks to distinguish itself among Blockchain gaming platforms. Data is streamed from leading brokers, including Bet365, William Hill and BetFair, to help you find the best odds. LetBet’s proprietary Blockchain processes transactions at a speed of xx versus one minute on average on the Ethereum Blockchain.

The LetBet developer team has put its veritable experience and expertise in creating a smart fork within the Ethereum blockchain which is suitable for not only online gambling but for many other activities as well. This blockchain is a zero chain, meaning that it does not require any transaction fees, which increases its appeal greatly. LetBet has endeavored to revolutionize the online gambling industry with its secure, trustless and fast platform. It invites gaming enthusiasts to get a share of the pie by participating in the ICO.

The LBT Presale has already started on 20th Jan at price from $0.4 and has sold 3 million tokens as of 25th Jan, while ICO begins on February 25th with price from $0.8. Come, be part of the revolution!

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Cyber-Physical Chain (CPChain) is the first decentralized infrastructure of the next-generation Internet of Things (IoT), leading to the formation of a trusted and new distribution IoT systems. The platform has been given enhanced scalability and security, tackling real-time issues faced by blockchain, and providing comprehensive solutions for data collection, sharing and application in the IoT industry. The ecosystem is enabled for multi-party data transactions and IoT-big-data-based Artificial Intelligence decision-making applications.

The Industry Challenges

At present, the IoT is based on centralized technology and function mode in the fields of smart homes, medical care and intelligence transportation, and encounters the common issues in connection costs, data value, trust and business models. The current IoT solutions are expensive as the data centers developed for one single project have a number of IT systems with their own databases and management tools. This inefficient architecture doesn’t meet the demand of billions of connected devices worldwide. Moreover, the majority of IoT devices yield lower profit in proportion to their life cycles.

The CPChain Goals to Address the Industry Challenges

Being based on the blockchain’s distributed ledger and an open-source distributed database having multiple parties, CPChain is the comprehensive IoT data platform that solves the “isolated data island” problem. This is because the decentralized IoT system developed on the blockchain can handle data from tens of billions of connected devices.

Due to the use of blockchain technology, decentralization brings utmost privacy and security. No data is stored in a centralized data center, which decreases the risk of malicious disclosure and hacker attacks.

CPChain is the blockchain-based IoT system with a P2P decentralized network that allows participants to participate in data sharing process equally. Users are able to authorize their data access and its applications and can get a huge volume of valuable data from the service providers at much lower cost. This leads to the creation of smarter services and realization of the value transferred via real-time data flow.

Features of the Platform

CPChain’s parallel distrusted architecture of the distributed cloud storage system and decentralized blockchain system tackle the scalability problem of high-level data storage and sharing. The platform presents a new hybrid consensus protocol for complex public blockchain based on the collaborative optimization design of communication and computing. Also, the side chain consensus system having high security, concurrent and real-time machine transaction is developed by blending an edge computing and hardware safety methods in the industry chain.

 The homomorphic encryption allows computation of encrypted data without needing to decrypt it. The data marketplace lets traffic data to be integrated to optimize traffic routes and insurance rates. Lastly, the integration of sensor data of cars predicts the maintenance of automated vehicles.

About the Team

Dr. LONG Chengnian (Ph.D. in Electrical Engineering), the co-founder of the platform and principal scientist, is the professor at School of Electronic Information and Electrical Engineering at the Shanghai Jiao Tong University; one of the most prestigious universities in China and within the top 150 universities in the world. Dr. LONG has written and published more than 50 papers in various international journals and conferences and was honored with the title of New Century Excellent Talents by Ministry of Education in 2011.

The Final Thought

CPChain’s decentralized system separates the data layer from the control layer, develops a parallel architecture to strengthen system scalability, offers open data sharing function and protects user privacy and accuracy.

To know more about the platform and explore its features in details, please visit http://www.cpchain.io/

Internet monopolies are easy to manipulate it seems. Especially if they are ad revenue driven and don’t really care who or what is advertised. Both Google and Facebook have been a hotbed for scams, phishing websites and malware recently, especially those involving crypto mining.

Cyber security researchers Trend Micro have discovered a surge in Coinhive web miner detections due to a malvertising campaign abusing Google’s advertising platform. According to the report they team discovered that advertisements found on high-traffic sites not only used Coinhive, a popular open source crypto mining script, but also a separate web miner that connects to a private pool.

Ads abused

Google’s DoubleClick advertising platform had been compromised. Malicious ads were served in Japan, France, Taiwan, Italy, and Spain according to the research. As of January 24 the cyber security specialists recorded a 285% surge in Coinhive miners originating from DoubleClick advertisements. The malvertising websites contained two different mining scripts which work in the background, leeching off users’ computer hardware to mine for crypto currency. The target coin is usually Monero as it is anonymous and cannot be tracked back in the blockchain.

According to a Trend Micro blog post;

“The advertisement has a JavaScript code that generates a random number between variables 1 and 101. When it generates a variable above 10, it will call out coinhive.min.js to mine 80% of the CPU power, which is what happens nine out of ten times. For the other 10%, a private web miner will be launched. The two web miners were configured with throttle 0.2, which means the miners will use 80% of the CPU’s resources for mining.”

Other reports indicate that YouTube has also been affected as it runs the same Google ad code. Secutiry researchers commented;

“YouTube was likely targeted because users are typically on the site for an extended period of time. This is a prime target for cryptojacking malware, because the longer the users are mining for cryptocurrency the more money is made.”


One way to prevent such incursions is to block Javascript from running in the web browser however this may render some legitimate websites unusable. Keeping browsers patched with their latest updates also helps to prevent rogue code however hackers are continually evolving their methods of attack.

As cryptocurrencies become more prevalent the level of sophistication for mining malware will increase. Exchange hacks and coin theft is also becoming more prevalent. Ad driven companies such as Google and Facebook rarely vet their paying advertisers and will only do so after something such as this has happened.

Other than NEM, the middle BB is acting as a good support line in most altcoins. Because we were expecting Lumens and EOS to appreciate, we can see the big role the middle BB had in shoring prices.

I anticipate more buy pressure as the week comes to a close but my main focus will be on LTC and let’s see what happens to that double bottoms.

Let’s dissect these charts:

NEM Under-Valuation despite Close below Minor Support Trend Line

alt coin NEM bears
XEMUSD 4HR Chart for January 27, 2018

Price eventually broke below the minor support trend line but the follow through has not been impressive so far.

In fact after the trickle down, NEM found support at around $0.75 before reversing.

While it did so, notice the double bar reversal candlestick and a bullish candlestick below the lower BB? Does this hold significance in the coming sessions? Yes indeed it does.

While NEM bears would be in charge if prices close below $0.75, our attention will shift to the middle BB and the minor resistance trend line as potential ceilings. I recommend patience at current levels because NEM is trying to find bearing.

Lumens aim at $0.73

alt coin Lumens bull break out
XLMUSD 4HR Chart for January 27, 2018

The path towards $0.73 is on and despite a tad bit of bear pressure yesterday, Lumens buyers found support at the middle BB and wriggled its way higher.

As mentioned yesterday, last week’s highs will be definitive and all we have to do is what and see what price action has got up its sleeves.

If there is a shift of trend, buyers must close above $0.73 or if not, prices must at least close above the middle BB in our entry chart.

NEO Support is at the Middle BB

alt coin NEO analysis
NEOUSD 4HR Chart for January 27, 2018

We are shifting the odds of this week closing as a bullish candlestick close to 1.

If NEO continues with their higher highs then two things must be happen:

First, prices must close above that very minor resistance trend line in our entry chart and secondly, prices must stay above the middle BB which is our short term support in the sessions to come.

Any close below the middle BB and sellers can begin loading up their positions.

Remember, prices are trending at key Fibonacci retracement level anchoring on last week’s high lows and if bears drive NEO value below the 78.6% Fibonacci, we can just forget about going long.

LTC Prices Oscillating Inside a Descending Wedge

alt coin LTC analysis-wedge
LTCUSD 4HR Chart for January 27, 2018

No fireworks as far as LTC price action is concerned and unless some minor but key trend lines are broken in the coming sessions, sellers would still be in charge.

As far as we are concerned, LTC price action is moving tightly within a descending wedge but after yesterday, January 23’s double bar reversal pattern was confirmed as a double bottom.

Now, if we expect buy sparks, we need a convincing break above the resistance trend line otherwise we remain in a downtrend.

EOS Inches Higher

EOS buyers
EOSUSD 4HR Chart for January 27, 2018

So far, so good and as we can see from the chart, EOS buyers found a trampoline at 38.2% Fibonacci level and chances are they might test $15.

Despite the move up, there have been some obstacles especially after yesterday’s bearish candlestick which threatened to derail our bullish projection.

Because of last week’s higher highs, the best buyers can do this week is perhaps test $15 which is pretty nice. However, chances of clearing $18 are low unless of course something trend changing happens.

All charts courtesy of Trading View

FOMO Moments

Looking at the top 25 cryptos during today’s Asian trading session a clear winner has once again emerged. Markets have failed to gain momentum over the past couple of days and have largely been trading sideways. The top ten by market capacity are all in the red and only RaiBlocks is showing solid gains.

According to Coinmarketcap XRB is up almost 22% in the past 24 hours. After a week of down trending from a high of $20 it has made a comeback from a reversal at $13 yesterday and is currently heading back upwards trading at $17.63 at the time of writing.

News that the launch of its underlying product, the RaiExchange, is imminent would have caused the renewed interest in this altcoin. People have been waiting patiently for the exchange to come online and according to the RaiExchange Twitter feed it will not be long:

“So close we can taste it. All of our account management features are now live. Two-factor auth, password management, security logs, session management, password reset, etc.”

RaiBlocks is different to most cryptocurrencies as it operates on a ‘block lattice’ as opposed to a chain. Each block contains its own transaction and updates account balances mathematically after each exchange; there is no public ledger with a transaction history. According to the blurb on its website RaiBlocks offers fee-less, instantaneous transactions, as well as unlimited scalability, making it ideal for peer-to-peer transactions.

XRB has a market capacity of $2.3 billion, with 133 million total supply, all of which are already circulating. It is traded heavily on Korean exchange Kucoin which has over 70% of the volume.

More info on RaiBlocks can be found here: https://raiblocks.net/

Happy trading.

FOMO Moments is a new section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and fundamentals.

In Davos at this year’s World Economic Forum, Bitcoin has continued to be a polarizing subject, attracting both criticism and praise from business figures, industry experts, and world leaders.

Nobel Prize-winning economist Robert J. Shiller had the following to say about the cryptocurrency: “I tend to think of Bitcoin as an interesting experiment, not a permanent feature of our lives. We’re over-emphasizing Bitcoin, we should broaden it out to blockchain, which will have other applications.” Shiller is not alone, other Bitcoin critics have conceded that they do see genuine promise in blockchain, the decentralized technology behind cryptocurrencies. Mark Zuckerberg, for example, believes it can be used to improve Facebook.

Bitcoin itself, however, has not yet convinced the large majority of its staying power, this often due to the token’s lack of stability. It hit a record high when it approached $20,000 in mid-December, but then tumbled rapidly, falling to below $12,000 within a few days. As we’ve seen, the token’s value has continued to shift ever since, with frequent drops and recoveries.

Cecilia Skingsley, deputy governor of the Swedish Central Bank, was also skeptical about Bitcoin during the panel session. “It’s too volatile to be used as money,” she asserted. Adding that digital currencies: “Don’t store value, they fluctuate, and they’re not at a stable rate of exchange”. This is the reason payment processor Stripe gave for its decision to end support for payments using Bitcoin. According to the company: “[Bitcoin] evolved to become better-suited to being an asset than being a means of exchange.”

There were, however, others in Davos who saw reasons for optimism. “I think this is one of the most audacious, generous and profound inventions that I’ve witnessed in my career,” said Neil Rimer, general partner and co-founder of Index Ventures SA, during the panel. “We’re nine years into this experiment. It’s gone well at times and quite poorly. It could fail completely and go to zero, but it has accomplished a number of things I think are remarkable.” With regards to regulation, Rimer conceded: “I do think [Bitcoin] needs to be regulated, just like anything I would want to become mainstream should be regulated.”

Cryptocurrencies are a diverse topic, but what’s certain is that the discussions in Davos have further brought it on to the world stage — which can only be a good thing for the cryptosphere. This sentiment is echoed in a statement by Nic Cary, co-founder of cryptocurrency wallet Blockchain, who said: “To us, we are seeing increases in transaction volume and to me, that’s one of the first indicators that more people are using this in their daily lives and that’s really interesting to me.”