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Wagerr Announces Mainnet Betting Release

David Mah

• 3 min read
Wagerr Announces Mainnet Betting Release

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The highly anticipated and much awaited Wagerr Betting release is finally here. Following successful public and private testing sessions, and the integration of zWGR 2.0 updates, we are ready to fork the blockchain and enable betting functionality.

New Wagerr wallets will be available for download on September 11th, this will prepare the network for a fork at block 298386 which is approximately 6:00 PM UTC Thursday, September 13th, 2018. The latest Wagerr wallet will be available Tuesday on Github (note: the link will be live starting sometime Tuesday)

The impending Mainnet fork will enable our first iteration of “Direct-Chain” betting. With “Direct-Chain” betting, users can place bets against the chain itself, and the chain will burn and mint coins as required. The “Direct-Chain” betting fee is 6% of the profit from winning bets. The Oracle portion of the betting fees will be distributed to all active Masternodes.

The 6% “Direct-Chain” fee means that Wagerr will offer some of the most competitive odds in the world for major events. Not only will Wagerr offer some of the most competitive odds in the world, it will also be accessible and usable by bettors all over the world without restriction. On September 13th Wagerr will be introduced to the world as the only application of its type, an unrestricted, globally available, provably fair betting network.

As a result of the introduction of distributed ledger technology and the Wagerr team’s incredible work building a decentralized blockchain with a functioning Oracle layer and strong economic backbone, the disruption of one of the world’s largest industries is about to begin.

Wagerr’s first Mainnet betting event will be the Canelo vs. GGG 2 boxing match taking place on Saturday, September 15th.

What better way to introduce a universally accessible, decentralized betting platform, than with a highly anticipated global sporting event! People from all over the world will tune in to one of the biggest boxing rematches of all time, and now they can wager on it securely. No matter your location, you will be able to bet on it using Wagerr.

As mentioned above, we are including more than betting functionality in this update. Anonymity is extremely important to the Wagerr team, bettors worldwide, and cryptocurrency users. This update will include zWGR 2.0, which will bring new features and security updates to zWGR. Most notably, this update will allow anonymous zWGR staking within the QT wallet. You will be able to earn staking rewards by minting and supporting the zWGR pool. Only version 2 zWGR minted after the maintenance period will be eligible for these rewards. zWGR 2.0 will also allow deterministic seed keys to be generated for your zWGR, enabling you to easily backup your zWGR outside of the wallet.dat.

The Wagerr Development Team will first proceed to implement zWGR version 2 on the Mainnet. To allow this transition to occur we have outlined a specific plan as follows:

  1. 10th September 10:00 UTC - The Wagerr Development Team will place the Wagerr Mainnet network in maintenance mode. This will disable all zWGR minting and spending temporarily. If you need to spend any zWGR, please do so before this time. Your zWGR balance will be 100% safe. Maintenance mode is planned to last two weeks but may need to be extended. Communication will come from the team when new wallets are available and maintenance mode is disabled.
  2. Ensure you have a recent backup of your wallet.dat, as zWGR is stored in your wallet.dat and not your WGR private keys. If you are unfamiliar with the process, please refer to our guide.

Stay tuned to our social media channels for updates on the wallet release, upcoming fork, and betting functionality. Do not miss out on history in the making!

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