Gambling has come a long way since the first stones or dice were cast. That era of physical games is now referred to as Gaming 1.0 – the original incarnation of human luck in the real world. Then came the digital era and sucked virtually every industry into the maelstrom of the internet. When gambling migrated from the velvet table to the digital table and the players started joining games from around the world, the era of Gaming 2.0 dawned.
But times are changing again and so is the industry as a new technological era starts in the digital industry. Blockchain is marshalling despite the lackluster repute of scams and market slumps, as the technology is the backbone of the new industry and it has far greater applications than base trade in tokens and coins.
Blockchain for iGaming 3.0
Gaming 3.0 is the next incarnation of gaming as decentralization is ousting centralized gambling sites and services from the throne. Even now more than half of all transactions on the blockchains of today are attributed to gaming services. One might rightfully ask why such a turn of events is taking place. The answer is the multiple advantages of blockchain-based gaming services over their traditional counterparts.
Contemporary blockchain games are decentralized in another manner as well. They are hosted on various blockchains and are scattered without a single entry point that would facilitate the lives of gamers and grant them a greater choice of games through a single gateway.
The DAOBet project is the blockchain infrastructure that seeks to assemble a vast number of blockchain-based games on an advanced technological platform designed specifically for gambling. Gaming 3.0 is the ultimate goal that DAOBet is aiming to achieve by providing gamers with a platform that would grant them the peace of mind and the instruments they need to play safely and in full knowledge that Lady Luck has taken the form of an immutable and unbiased technology.
But DAOBet is not only a platform for gamers, as the infrastructure of such an ambitious undertaking stands on the pillars of technology and an intricate system of supporting nodes managed by individuals who are also stakeholders of the entire ecosystem. DAOBet is for all involved in the gambling process as all have to benefit from the uninterrupted operation of the system – the gamers and the validators who will be the ultimate beneficiaries of the system’s operation.
No one needs to fail with DAOBet for the few to win, as all will win with DAOBet by relying on its advanced technology.
The DAOBet Technical System
DAOBet was originally designed from the ground up as a platform specifically for gambling, and that is why the development team outlined a number of important characteristics that would make such a specialized system viable and profitable under the strain of millions of transactions.
Being a gambling platform entails some risks, such as those related to legislation. DAOBet has never had any relation to gambling itself, but is acting as a platform for hosting gambling games. As such, the original name DAO.Casino had to be ditched in favor of a more product-friendly brand name that would better position the platform in a neutral and technological fashion.
The decision to rename DAO.Casino to DAOBet was a logical solution to distance the project from gambling itself and focus on what the players are engaged in doing within the confines of the DAOBet blockchain – betting. There is no legislation that forbids betting, as such, DAOBet will be simply granting gamers the chance to bet on a highly technological, secure, and fair platform by playing the games they wish.
Latency And Throughput
Gambling is not merely placing a bet, as the time factor is sometimes critical in deciding who will win and who will lose. In the blockchain world, this is called latency – the time it takes for a transaction to be confirmed by the network. The times needed for confirmation vary from network to network and from protocol to protocol.
The throughput is the number of transactions per second that blockchains can process. This factor is just as important and goes hand in hand with latency, as it depends on the time it takes for the Validators, or node holders, to produce a block.
Should either one of these factors drop to seconds or minutes in time, the gambling experience will falter and gamers will be irritated.
Finality may be a rather fatalistic term, but it can be equalized in its meaning to immutability. In reality, finality is the guarantee that no transaction on the blockchain can be changed after it is confirmed. Some blockchains do not provide finality at all, as some chains of blocks can coexist in parallel on several blockchains in the form of forks. Bitcoin is a perfect example with its forks. Such a situation leads to the risk that some blocks can be abandoned for others that exist in longer chains.
The gambling industry places special importance on the issue of finality, as having a transaction achieve completed status means that games can run faster and bets can be executed in shorter periods of time. If finality takes a long time, then decentralized gambling loses all competitive advantages before centralized solutions and even becomes a liability.
Proof of Stake blockchains offer good finality values, such as the EOS blockchain, where finality is usually achieved in under 180 seconds.
The DAOBet blockchain operates on the EOS blockchain’s basis. However, EOS’s finality is not fully suited for gambling, and that is why the DAOBet development team chose to improve on the characteristics. The approach of the POLKADOT project was chosen in the form of GRANDPA (GHOST-based Recursive Ancestor Deriving Prefix Agreement) for improving the finality of blocks. The given approach allows DAOBet to achieve finality of under 3 seconds for each block – a perfect solution for gambling and its demanding realities.
Gambling is all about the math and having an unbiased, fast and accurate Random Number Generator, or RNG is the key to having gambling games work in principle. Given that many games have their session results calculated in a matter of seconds and outside the game itself, such as in the case of jackpots, having a reliable RNG is vital.
DAOBet developed its RNG on the basis of BLS – a pairing-based signature scheme with a high enough level of security. Under the given scheme, the block producers sign the same transactions to create an aggregate signature with a deterministic random number. Such an approach eliminates the possibility of interference in the number generation process, thus ensuring unbiased gambling game results.
No blockchain can operate without a viable system of internal economics, or tokenomics. DAOBet is no exception as it has developed its own system of incentives that encompasses both the players and the Validators, who will be supporting the system’s operation.
Without offering proper incentives to players and Validators, the blockchain will fail, and that is why DAOBet has focused much attention on creating favorable terms and profitable operational foundations for attracting a great number of Validators to engage their equipment in keeping the DAOBet blockchain up and running.
DAOBet operates on the internal BET Token, which has a total initial supply of 167.270.821 BET. The tokens act as the main medium of exchange and rewards for all operations on the platform. However, the BET is not just a means of rewarding Validators for their work, or a medium of payouts for players. The BET Token also acts as a resource management tool within the DAOBet blockchain by placing restrictions on processing power usage, bandwidth and other parameters of blockchain operation.
Given that the DAOBet blockchain operates on the PoS algorithm, the Validators keep the system running. All of the Validators are elected by the token holders via voting. The winners of the voting process with the most votes from 21 to 100 receive the right to produce blocks.
Since all participants of the DAOBet blockchain are free from commissions on transactions with smart contracts and their execution, those wishing to field Dapps on the blockchain need to stake some tokens. The resources needed for the blockchain are then calculated on the basis of stake values as such:
- CPU - The measure of computational complexity;
- NET - Number of bytes transferred and stored;
- Voting - Special resource type, associated with the Validator election process voting power.
With 2 weeks as a lock-up period, the staked tokens cannot be used by their holder and thus guarantee uninterrupted operation and resource allocation for the blockchain.
Inflation will be applied to eventually increase the number of tokens as a means of blockchain self-funding for operational activities and development. The inflation itself is fully automated and calculated by the blockchain, depending on the number of staked tokens:
- 20% if the total staked token amount is under 33%;
- 20% to 10% (grows gradually) when the staked amount sits between 33% - 66%;
- 10% for a staked amount of more than 66%.
The tokens that emerge from the inflation process are used to reward Validators after a 20% tax is retained, which is allocated to the Blockchain Fund. The fund is controlled by network contributors, such as developers, Validators and others participating in expansion of the blockchain.
By applying basic mathematics, we see that the Validators will be earning from 8 to 16% of all annual token supplies at 0.53 BET per block produced every half a second.
If DAOBet is to be seen from a profitability perspective for those maintaining the network, it becomes clear that it is one of the most liquid and rewarding systems out there.
One versed in the blockchain world and familiar with the solutions available would start thinking whether any other network out there would be suitable for Gaming 3.0. It is true that there are a number of blockchain systems capable of catering to the demands of gamblers. But, yes, there is a but, that is all still in theory.
On the other hand, DAOBet is in Testnet mode and has proven technical characteristics that are functional and being constantly improved. By combining its RNG, finality values and staking-based governance system, DAOBet is on top of its competitors in the fairness, technological and economic playing fields. In addition, DAOBet has a comprehensive sponsorship system that allows anyone willing to partake in the system without even maintaining the equipment needed for running a node.
No matter how advanced a technology is, it is worthless if it does not bring economic benefit, considering that we do not live in a Platonic, altruistic world. DAOBet is technology and economics that caters equally to its users – the gamers, and to its supporters – the Validators, and those willing to sponsor their operations for a share of the profits.
Let the Game of Stakes begin!
Testing is a long, boring, meticulous and even annoying process, especially when testing a blockchain ecosystem with dozens of nodes and millions of transactions. DAOBet is a gaming platform after all, so the development team decided to launch its blockchain testing process in the form of a game that anyone can participate in.
Game of Stakes is the game launching on September 30 that encompasses all the layers, levels and challenges of blockchain operation under real conditions with real people all for the noble purpose of improving the operation of the DAOBet blockchain.
Game of Stakes is a collective IT game for those vying for the role of a network Validator. Being one of the chosen is no simple task as would-be Validators will have to face the treacherous world of blockchain node operation head-on and fend off internal and external attacks on the network in a completely randomized environment.
The participants of Game of Stakes will have to cope with a number of tasks, such as producing blocks without interruptions, building fault-tolerant infrastructures for subsequent stable maintenance, coping with constant attacks, updating software and conducting hard forks, and using the network to identify faults and bugs. All of the participants will be rewarded with Validator Points for their efforts and the winners will be the holders of the most points.
Such a game will be a critical element in identifying and eliminating any faults within the DAOBet blockchain before the Mainnet is launched.
Gaming is only going to evolve and better it evolve on a platform tailored for the gigantic industry. It is the players who are the ultimate beneficiaries as gaming experiences have no price, they are the joy of millions and the pastime of generations.
DAOBet is fully designed for the gaming industry with its technical and economic sides. If iGaming 3.0 ever had a face, then the DAOBet brand is certainly going to be its herald in the coming future.
Interested? Here is how to join the Game of Stakes in 3 steps:
- Fill this form: https://daobet.typeform.com/to/Vcin1c
- Register your account using the instructions: https://github.com/DaoCasino/Game-of-Stakes
- Launch your node with this script: https://github.com/DaoCasino/Game-of-Stakes/tree/master/run-producer
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