When we started the DAOBet project two years ago, we set out to achieve a very ambitious goal: to create the first iGaming ecosystem governed by technology. We call it Gambling 3.0. A lot has changed since then - blockchain technology has evolved, new chains and solutions have been created, crypto market trends keep shifting, and even our own brand has been reinvented. One thing has not changed: our goal remains the same.
The reason why decentralized gambling cannot compete against traditional online gambling goes deeper into the user experience issues and how the user perceives the in-game experience. For now, there is a problem of the UI/UX inadequacy issues, while the player gets slow game performance due to state-channel opening and transactions’ speed. Moreover, there is transaction cost implied as GAS within Ethereum. However, there might be security issues when the transaction can stay unconfirmed or be reverted.
From what the market is experiencing nowadays, it takes forever to load the game and make a transfer, as well as the design of gambling DApps is not intuitive and slick. It does not only relate to the design peculiarities, but the whole problem also lies behind certain blockchain algorithms and turning stones. So, to compete with traditional online gambling, DAOBet decided to launch its own blockchain for the gambling industry.
The Research Behind
From the market perspective, the vast majority of blockchain transactions are gambling-related. That shows the demand for Gambling 3.0.
What our team is working on has never been done before. We are the first who published scientific research on Game Channels, combining them with our own Signidice PRNG. It is a vital step towards achieving our ultimate goal. Everything we have done and developed so far has been based on Ethereum blockchain, but it is our duty to continuously re-evaluate our progress and keep a close eye out for even better solutions that could serve as a base for our ecosystem.
After conducting extensive internal testing, gathering feedback from developers and putting in months of research, we have come to the conclusion that Ethereum blockchain in its current state is unable to provide the perfect user experience to match the best iGaming industry standards. Even with Game Channels, we could not guarantee cheap and fast transactions due to Ethereum blockchain limitations.
Ethereum Blockchain changes, and we believe in the future of Ethereum and further long-term success. Although we, gamblers, companies, and the whole industry cannot wait any longer. After the research, we concluded that there is an only option to solve the industry problem right now.
After all the hard work and researches, we have decided to create our own Blockchain, built specifically for the gambling industry needs. We set our sights on EOS.io, a blockchain that has recently seen a surge in adoption, especially among gambling DApps.
EOS.io does improve many of Ethereum’s issues such as transaction fees and scalability. We also took into consideration its disadvantages, to name a few - network performance and scalability of EOS.io come at a price of decentralization and lack of finality. With this governance model, we could not achieve our goals without sacrificing the key advantages of our ecosystem.
All things considered, the blockchain market is a fast-paced environment and as such, there is no clear way to have an accurate prediction for any upcoming trends, and yet our project needs to be based on solid foundations that uncompromisingly meet our requirements. With this in mind, we decided to develop our own blockchain to become a heart of DAOBet ecosystem.
What DAOBet’s blockchain is based on
DAOBet blockchain will be tailored specifically to Gambling 3.0 needs, one that will be the first to solve all of the problems of the growing blockchain gaming sector at once, namely finalization, random number generation, transaction costs, performance bottlenecks. Our blockchain will be based on EOS.io, sporting zero transaction fees, and high performance, with integrated RANDPA finality (this is the new finality algorithm, that we developed specifically for this blockchain) and built-in Random Beacon solution, based on threshold cryptography (details will be published in upcoming articles) to ensure that all of the requirements of our future platform are met.
Current token owners will be able to become Validators and Delegates in our network, similar to how it is done in Cosmos and EOS.io.
To sum everything up, our vision will not change, our roadmap, however, will be updated. Blockchain development can be a costly process, but we embark on this journey with a team of expert developers who will ensure a relatively quick and painless transition to the new blockchain through the execution of a thoroughly deliberated roadmap.
After this announcement, we are embarking on a swift and well-planned journey to launch the Mainnet of our blockchain by the end of Q3. By the 29th of April, we are planning to open source the part of our code, while the Testnet 1.0 release is to launch by the end of May.
In Q2 2019 we have set the following milestones: Testnet 1.0 release, RANDPA implementation, Testnet 2.0 and Governance implementation. The first version of our Technical Paper is scheduled to be published in Q2, clarifying all the details and showcasing the technical specifications of our blockchain. Q3 2019 will be marked by the Testnet 3.0 launch, Game of Stakes, and built-in PRNG implementation. After undergoing a thorough audit process, our blockchain is expected to be ready for its Mainnet launch by the end of Q3 this year. We plan to tie our first blockchain B2C casino partnership announcement to the launch of Mainnet. Details concerning plans for the last quarter of 2019 are to be announced.
We are forming a solid data-driven approach and we are that no one had ever done before. We did not want to make the official announcement for our community members until everything was tested and running correctly.
In the light of such significant changes, DAOBet is hosting an AMA session to address any questions. A series of articles explaining some of the roadmap milestones, where we will describe the new tokenomics and validator nodes in detail, will also follow.
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