Title: Betting on the blockchain - Chancecoin vs. LottoShares Post by: FreeTrade on August 22, 2014, 12:36:02 PM Two of the most interesting new altcoins come with a built-in casino. They allow users to make bets in the blockchain. The bets are automatically resolved in the blockchain by miners using open source software. Essentially they are distributed and de-centralized casinos. Here's a comparison of the two players.
Blockchain security: Chancecoin: Piggybacks on the Bitcoin blockchain using the Counterparty model. LottoShares: Forked from Litecoin and uses its own blockchain. It supports merge-mining with other scrypt coins. Distribution: Chancecoin: Proof of Burn : Investors burned 480 BTC in 240 transactions. LottoShares: Distributed to a wide range of addresses in existing coins (20% to BTC, 20% to DOGE, 10% to PTS, 10% to AGS, 10% to MMC, 6.6% FBC, 10.9% SHC, 8% to Devs, 4.5% to various bloggers, exchanges, websites, btctalk users) Comment: Chancecoin's distribution ensures a small initial number committed number of shareholders who have sacraficed BTC for their stake. LottoShare's distribution ensures a wider base of less-involved shareholders. Games: Chancecoin: Dice Game (1% House Edge + 3 cents transaction fee) Video Poker (1% House Edge + 3 cents transaction fee) LottoShares: Dice Game (0% House Edge, no transaction fee) Lottery (15% House Edge, no transaction fee) Maximum Win: Chancecoin: 1% of bankroll LottoShares: No maximum Bet Resolution: Chancecoin: ~ 5 seconds LottoShares: ~ 20 seconds Title: Re: Betting on the blockchain - Chancecoin vs. LottoShares Post by: KillerByte on August 22, 2014, 04:09:18 PM interesting...
Title: Re: Betting on the blockchain - Chancecoin vs. LottoShares Post by: CoinHoarder on August 22, 2014, 04:25:03 PM interesting... Very interesting indeed. Thank you OP for breaking down the two crypto currencies in an easy to read format. Decentralized gambling/gaming is important IMO because centralized gambling sites can scam their customers by rigging the odds and/or run away with the customer's money. A decentralized crypto currency won't do that. :) Are there any other decentralized gaming projects on the horizon? I know Bitshares is planning BitsharesPlay... maybe they have other projects as well. Nxt has NxtPoker and Dice-x.. maybe they have other projects as well. Am I missing any other projects? Furthermore, are Chancecoin and/or Lottoshares implementing other forms of gambling? |