Gambling applications lead the cryptocurrency market in terms of the number and volume of transactions. In the third quarter of 2019, they amounted to $933 billion – almost half of the total turnover of the Ethereum, EOS, Steem, Tron, TomoChain and IOST blockchains combined.
Gambling providers favor EOS and Tron. In Ethereum, gambling accounts for 5% of the total transaction volume, in EOS and Tron - 63% and 86%, respectively. Nevertheless, these blockchains do not cover the needs of the gambling industry.
Users need quality games, and developers need a powerful virtual machine to create them. Casino owners are interested in quickly connecting and setting up applications.
DAOGroup includes several products: DAOPlatform, DAOWallet, and DAOGames. They work on the DAOBet blockchain, which was launched by validators in November 2019.
The beta version of the DAOWallet crypto wallet was also released in November of last year. DAOPlatform and DAOGames are under development.
DAOPlatform is a set of modules for blockchain casinos. The client selects the games, the payment systems, the reports and the affiliate software. DAOPlatform deploys a casino and transfers it to the owner for further operation.
DAOPlatform uses smart contracts for all financial transactions. This ensures the security of the casinos, the players and the traffic providers.
The client selects casino games in the DAOGames marketplace. It features roulette, blackjack, poker and dice. In the future, the developers will add various card games and slots to the list.
Product developers and marketers from leading game providers: Evolution Gaming, iGP, and Enlabs participate in the creation of DAOGames applications.
The user will log in to the DAOPlatform and gain access to games using the DAOWallet crypto wallet.
Using the wallet, the users can buy and send BET Tokens, receive winnings and withdraw funds to credit cards.
The DAOBet Blockchain
DAOBet is a blockchain for the gaming industry based on EOS. It has inherited the main advantages of this network: the lack of fees, high transaction speeds, scalability, and support for the WebAssembly virtual machine.
DAOBet has retained DApps compatibility. Decentralized EOS applications can be transferred to the DAOBet blockchain without modification.
At the same time, the blockchain’s developers changed the number of validators, the mechanism for finalizing transactions, and the approach to using network resources.
In addition, they deployed a Signidice PRNG pseudo random number generator with a certificate of conformity from Gaming Laboratories International on top of DAOBet.
The BET Token
There are no transaction fees in DAOBet. (BET) Networking requires the user to have resources: random access memory (RAM), bandwidth (NET), processing power (CPU) and votes (VOTE).
The internal BET Token is designed to work with the given resources. It allows users to:
· reserve resources for voting, conducting transactions and executing smart contracts;
· buy a place to store data on the DAOBet blockchain.
The size of inflation (re-issued tokens) depends on the number of votes (VOTE) that users have reserved. The more VOTEs blocked, the less the inflation.
DAOBet implements Sponsorship Tx. With it, applications conduct user transactions at the expense of their own resources.
By sponsoring transactions, the gameplay is made completely free for users. The latter will not need to worry about resources and will be able to focus on playing games.
Dynamic Validator System
DAOBet uses the Delegated-Proof-of-Stake (DPoS) consensus algorithm in which validators are responsible for creating and checking blocks. For their work, the validators receive part of the issued BET Tokens.
Any user who is ready to deploy a full node and maintain its smooth operation can become a validator.
The network can have from 21 to 102 validators. Their number depends on the volume of reserved votes (VOTE). The more votes users have, the more validators are online.
The dynamic validator system and inflation prevent network centralization and corruption among block producers.
RANDPA Transaction Finalization Mechanism
The finality of a transaction is the state in which it becomes fully confirmed and immutable.
Finality can be probabilistic and absolute. In the first case, the transaction is finalized after confirmation by the network nodes. In the second case, in is finalized after a certain period of time.
The finality of the transaction is important for gambling. Games in which the user needs to wait a few minutes for the result will be uncompetitive. For this reason, DAOBet includes a RANDPA finalization mechanism.
RANDPA is a joint development of MixBytes and DAOGroup. It finds and finalizes the transaction blocks that were confirmed by ⅔ of the validators. As a result, the transaction finalization time is reduced to 2-3 seconds.
DAOGroup has developed a blockchain ecosystem that can solve the problems of players and gambling operators.
· DAOPlatform will help future casino owners get a finished product and a gambling license;
· DAOGames will provide gambling operators with games from leading suppliers;
· DAOWallet will be a universal means of authorization for players;
· DAOBet will ensure the rapid operation of ecosystem elements.
DAOBet addresses the weaknesses of EOS, namely – network centralization and slow transaction confirmation using a dynamic validator system and the RANDPA finalization mechanism.
High network bandwidth and the absence of user fees can make DAOGroup the main competitor of centralized solutions for online casinos.
Article courtesy of ForkLog Magazine.
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