Dao.Casino : Next generation gambling industry

DAO.casino is an open ecosystem for gambling games that don’t rely on a trusted third party. It is a decentralised governance system built on Ethereum that rewards all developers, security auditors and community members for their contribution to the platform where players can discover and play scam-free games using familiar and straightforward user interface.

Introduction to DAO.Casino

DAO.Casino software, which is written in solidity, expresses business logic to support the growth of a fair and sustainable gaming and gambling industry. It’s a socio-technical protocol — a fully decentralised backbone / governance protocol — which creates a balance between the platform’s usability and its autonomous economic infrastructure.

DAO.Casino is using random number generation in a way that the numbers are provably random, which helps against the unfair practices and standards of the traditional gaming and gambling industry. We will describe exactly how the random works in the system in a following posts.

What does this system have to offer to each one one of its associates, be it players, game or .sol developers or token holders?

For the Players

The existing gaming and gambling infrastructure is rigged, and players have turned out to be the biggest victims of unfair betting outcomes. There is no such thing as a trusted third party, because each gaming service — at some point of time — manipulates the results to suit their business models. And the saddest part is the inability of players to call/prove the bluff, because the betting outcomes are calculated behind the curtains.

So the first and the foremost thing DAO.Casino focuses on usability. With usability, the platform wants to provide a perfect mixture of straightforward user-experience, provable fairness, and higher payouts. To sum it up, these are some of the benefits users can receive by using DAO.Casino:

  • Straightforward UX
  • Discover unlimited provably fair indie gambling games
  • Choose most suitable UI
  • Get high payouts
  • Take part in a potentially the largest lottery on Ethereum

For the Game Developers

DAO.Casino wants to eliminate a developer’s need to rely on closed-source gaming markets, make it easier to monetise their work, to raise funds for development, or to expect bankrolling without paying heavy commissions.

With its focus on offering a sustainable model DAO.Casino offers an environment to developers in which they can build games freely & retain their IP, release their game under open source licences, raise funds and bankroll without needing to rely on central authority. In the subsequend releases of the system in 2017 offer integrated serverless hosting for the front end as well. In this project developers get to receive:

  • Scalable P2P marketplace
  • P2P referral system support
  • Possibility to raise funds for the bank roll
  • Build your own Casino (front-end)
  • Verifiably genuine RNG provided by DAO.Casino
  • IP stays with the dev

For the Token Holders

DAO.Casino token holders don’t just hold tokens under their mattress. Any member of the DAO.Casino can contribute & get rewarded for their active engagement:

  • Crowdsource any game’s bankroll
  • Become a referrer & help the players with game discovery
  • Join RNG providers system

Business Model

DAO.Casino’s business model is decentralised — anybody who bring value to the system gets rewarded for their contribution. No one decides who is rewarded, as this is hardcoded in the protocol — a system of solidity contracts (detailed architecture will be published shortly) That’s the beauty of the system: it appreciates its participants, and rewards them likewise. Automatically.

DAO.Casino’s code is administered by maths — a cryptographically verifiable code over cryptographically verifiable data which Ethereum allows us to do — which automatically distributes funds amongst all the participants who bring value: developers, referrers, and random number providers.

Ilya Tarutov CEO, it’s not difficult to see that online gambling is broken — it’s a black box and it is impossible to say whether it can be trusted or not. and yet people want to play. there are ways of providing much better experience for the players and the gamedevs and creating a sustainable business model that scales. and Ethereum provides a very useful technology to achieve that.

DAO.Casino tentative first release is in April 2017.

Project Features

Resilient: Tokens are distributed amongst many games. No eggs in one basket.

Fair: Reward system is transparent & automatic (not controlled by central authority).

Open & Extensible: anyone can add a game or run their own casino UI.

Sustainable: Maintained by many participants.

Initial Token Features

  • In-game currency — A native token to speed up transactions inside the house
  • Random Number — Token holders can become providers of random numbers used by games.
  • Bank roll backing — Token holder can back up a game of choice

DAO.Casino The Future of Gambling

There was no way for two strangers to flip a coin on the internet without relying on someone else.

There are a lot of limitations and challenges with current gambling and gaming solutions available online. Unfair practices, insufficient rewards, and outdated policies are among the many issues currently faced by gamers and developers. DAO.Casino aims to rectify such standards by introducing a socio-technical protocol to the gaming industry.

The aim of the project us to build a flexible gaming environment that offers users the freedom to play, and developers the freedom to create. For users, DAO.Casino aims to provide a better user-experience and the highest possible payouts, while for the developers, it aims to be the platform that nurtures, showcases and monetises their work.

DAO.Casino understands the importance of its goals, and therefore believes in a systematic and practical approach to achieve them all. Firstly, the project takes care of the risks that are often associated with the online gaming and gambling sector. It is building an environment that is primarily resilient to attacks, and is sustainable. They design a viable network that efficiently integrates communication, governance and financing, and rewards all the participants for the contribution of value: for example for providing a random number or making a game.

Decentralisation is the Future

DAO.Casino utilises Ethereum’s smart contract technology, which disrupts the traditional gambling and gaming industry by introducing decentralisation.

Online Gambling industry has always followed a centralised model, meaning players are made to rely on trusted third parties. This is an extremely closed network — a kind of black box — whose internal functionalities are hidden from its very own users. Its lack of transparency is the only reason which has got players concerned about the right outcomes of their bets.

While for the game developers, a closed-source gaming market means that they cannot monetise their work, or raise funds for development, or expect bankrolling without paying heavy commissions.

DAO.Casino addresses the issues faced by both developers and users. For players that are concerned about fairness, the project ensures pure mathematical randomness in the outcomes of each of their bets. It that there is no human intervention, or any kind of bot-based manipulation.

For the game developers, DAO.Casino means a dedicated and transparent P2P bazaar where they can monetise their work, raise funds and bankroll without needing to rely on centralised models.

The Future of Gambling will be Decentralised, indeed.

A Global Open-Source Casino

There is no such thing as a trusted third party. And to build a self-governing global casino, a lot of questions have been asked as to what else would run this casino if not a human. The answer lies in mathematics.

DAO.Casino is working on solving the two main issues for the new gaming industry to thrive. They are: Usability and Autonomous Economy. While the former ensures a better and interactive experience for users, the latter speaks about a sustainable and autonomous economic model that fairly rewards all the participants. It is the key to build a global casino that features huge jackpots that anyone can win (and nobody can steal).

Cryptographic verifiability, transparency and auditability for the code and incentive mechanisms for the humans (and the machines) can solve this and offer a much better experience for everyone.

DAO.Casino is working actively on it.

The Business Model

DAO.Casino’s business model works as a reward system for its active participants. The platform’s socio-technical structure is designed to reward independent game developers, security and audit enthusiasts, community members, and even to the people who help the developers to promote individual indie games through referrals.

It is understandable that game developers with no-to-insufficient knowledge about Ethereum would be reluctant initially to join DAO.Casino. But they really don’t have to be experts, as they will be able to use audited solidity contract templates to take part in the system anyway.

Progress So Far

DAO.Casino project was conceived in summer 2016 by researching the possibilities of developing an exclusive smart contract that features an autonomous economic model. In the near future, the project will announce a detailed architecture explaining how an autonomous finance model will work alongside initial solidity contracts.

At present, DAO.Casino is launching a new front-end system of governance and finance, the details of which will be announced in our future posts. They are also working with a game developer to test his gaming software on their system.

Future Plans

While the development of its initial infrastructure is underway, DAO.Casino is also focusing on forming partnerships with other Ethereum projects in order to bring out the best for end users. The project is also following the developments of new protocols and systems that could prove beneficial for their decentralised gaming infrastructure.

Dao.casino – Next generation gambling industry built on Ethereum

Online casinos take about 10% of the total legal turnover in the world gambling business, and 60% of online casinos belong to 22 leading networks. Another 30% are subsidiaries of well-known offline casinos, and the remaining 10% is owned by private individuals. Taking into account these monopoly phenomena, the developer has few chances to attract the required number of audience members to start its project in this market.

Internet gambling games cause distrust on the part of the players in most cases. The player is faced with the following problems:

  • After transferring the money to the game account, it is not credited or it is stolen
  • For unknown reasons, the money disappeared from the account
  • After withdrawing the money from the deposit, it has not been credited to the plastic card
  • The player has not received the promised bonuses
  • The player is not able to enter his game account
  • The casino charges a fee for the gain withdrawal
  • The player can withdraw funds only on a certain day

The organization of the gambling market is based on an open code and on smart contracts, and using blockchain technology is required to ensure safety. With the help of smart contracts, it is possible to unite all participants of the gambling game market, and to establish commonly understood, honest rules for the game prescribed in the blockchain in which there is no place for fraud.

We are bringing to your attention the first Decentralized Autonomous Organization in the gambling industry — Dao.casino.

Dao.Casino will invest the funds in game developers, making a profit as a percentage of earned game money. On the other hand, Dao.Casino provides the developers with a convenient platform for placing games with a large flow of users.

Key parties:

  • Creators and developers of Dao.casino
  • DaoTokenHolders (DTH) — Investors who have invested Eth funds in the Dao.casino
  • Developers of gambling games
  • Referrers — those who bring the players to the platform / game
  • Players

Existing problems in the market of online gambling

  • The player is afraid of fraud on the part of online casinos
  • The player cannot check the result of the draw
  • The player is forced to pay a big fee for the game
  • The developer cannot promote his product and embed it in a passable area
  • The developer does not have enough funds to develop the game
  • The investor cannot buy shares of online casino and invest therein

Dao.casino objectives:

  • Earn a profit for its investors
  • Provide developers with convenient tools for game development
  • Create an AppStore-like platform with a large flow of users
  • Raise the honesty and provability of games to a new level
  • Reduce costs for the development and promotion of gambling games
  • Provide games with a big jackpot

Coming soon

During month of March we will be publishing:

  • Detailed system architecture
  • Detailed token distribution & functionalities
  • Detailed description of RNG
  • Initial solidity contracts
  • Security audit results
  • Bounty winners

MORE INFO ABOUT DAO.CASIONO:

. WEB . MEDIUM . SLACK . TWITTER . FACEBOOK .

 

source:

Dao.Casino team Blog

  1. Dao.Casino 1
  2. Dao.Casino 2
  3. Dao.Casino 3

 

 

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