After reading all this white paper, the applied Fate Channel technology is very good, this project as the backbone and potentially possessed by this new state channel, hoping the future is good and better
So you already know details about this project. What is main difference of this project compared to other casino ICOs?
The main benefits of the Funfair Network are:
- Trustless
- Secure
- No theft
- No confiscation
- No freezing of funds
- No one acts as custodian of your funds
- No malicious players
- Assured payouts as operators must wager the maximum amount available to be won each play and there will be no annuities, i.e. if you can bet it you can win it once submitted to contract as the house has to stake the total amount available to be won.
- Provable fairness beyond initial Random Number Generation play by play.
- Transparent, auditable and complaint (regulators will be happy)
- Low low overheads (massive reduction for operators compared to traditional online gaming)
- Inflationary economic model, casinos must acquire all funds required to wager prior to bets taking place to give a fair chance player can win amount claimed.
- Tokens are burned as network fee for the first two years reducing supply.
- Scarcity + need for liquidity increases value.
- Future privacy with ZK Snarks when Metropolis offers Eliptic Curve Crypto.
Performance (Speed): No other gaming company (ICO or otherwise) has solved off-chain scaling. Without this games are very slow as you have to wait for confirmations throughout the public blockchain turn by turn for true decentralised gaming with provable fairness.
Take a look at VDice and Etheroll, play them they are unbearably slow, worse due to the ice age hitting block propagation is now more than 20 seconds and some need more than one confirmation.
By using oraclise or another third party for RNG they have further time to waist (often 3-5 blocks, at best 1-2 minutes).
Blocks will only get slower as the network gets more congested and Ethereum has a problem scaling. Without Fate Channels other competing companies cannot offer casino games at speed.
Since we launched some like Dao.Casino say they have a solution that is similar, but this is currently hypothesized with no evidence of reality.
Funfair is the ONLY casino gaming platform with a WORKING SOLUTION TODAY for fast and provably fair off chain scaling for instantaneous play.
Without this players get bored and leave. We want them to have fun and play safely.
Performance (Gas Cost): Ethereum price rising means more expense in gas costs, all other casinos (none have off chain scaling or are centralised playing hands without the use of blockchain transparency and thus aren't provably fair) have to factor in gas costs making microtransactions unfeasible, read:
https://proofofsteak.com/can-ethereum-casino-games-disrupt-the-online-gaming-industry-ff36fa2bfa47and watch the videos you will see how slow and costly they are:
"
Etheroll & vDice decided to opt for a very high minimum bet size to ensure their gas cost doesn’t overwhelm the bet size. The min in Etheroll is 0.1 Eth (today its $24) and vDice was 0.22 Eth. And even then, the gas cost is over a $1 for most of those games."
Funfair has no gas costs to concern themselves with aside the opening and closing of a fate channel at the beginning and the end of a session.
Fairness Never has full transparency of turn by turn play operated at the speed players want to play. Full auditible proof of Random Number Generation creation is tied to each transaction and is view able on the public blockchain at the end of play with all timestamps verifiable.
Fun We are a group of games developers spanning 4 decades and have created a lot of cult games from your youth including Nintendos Satr Fox and the 3D FX chip, the hardware required to run it. We don't only create fun by the tech that makes it possible. Fate channels was a challenge not a problem. Real probably fair peer to peer gaming is coming and we will provide the best games to play alongside the tech.
Team (Jez San, Jeremy Longley and Oliver Hopton) responsible for cult video games of 80s-2000s (Star Fox, Super Nintendo 3D FX chip, Harry Potter, Aliens, Populous, Star Glider, Theme Hosptial etc.)
https://en.wikipedia.org/wiki/Argonaut_GamesLegalityFunFair is a developer of gaming technology and will license the platform and games to Casino Operators the world over. Important to stress that FunFair is not a casino operator, and never will be.
FunFair's business model is thus completely legal and it licenses to operators who will take liability for operating legally themselves. that's why we can say who we are. doing it this way, we don't have to operate in the shadows.
We have taken the best legal advice, we are not paying dividends. We are strictly a casino network. This means that we can work with affiliate gaming sites that have gaming licenses in place and can offer full transparency of fair play to players and regulators.
We are transparent and safe. Neither we or our affiliates are custodians of players FUN tokens.
Reality Funfair tech exists and is playable, not undelivered promises. Try the competition's games or proof of concepts, then try ours, don't believe anything from anyone that doesn't have evidence of delivery and working proof of concepts that are on blockchain and playable. The choice is obvious.
It's working today and live to play on the test net here:
https://showcase.funfair.io/
