Introduction
Since the time of the internet revolution, every industry in the global scenario has been taken over by a storm. The gambling and betting market, especially has grown so exponentially that it is not able to facilitate the evolution. The total gambling market capitalization today, is expected to reach $400 billion and is showing great potential for growth, embracing new technologies and innovation.
Blockchain is a fine example of tech that is currently changing the world. This technology is aimed at making transactions faster, safer and transparent. The company Proof of Toss was therefore inspired by the idea of making betting effortless, enjoyable and profitable for all participants. Backed by blockchain technology, they have created a unique ecosystem where it creates a fair win-win situation for market operators and players, both of whom are aimed at keeping their competitive advantage
The ecosystem and it’s benefits
Some of the benefits offered by the platform are that they provide Irreversible transactions and high level of responsibility of all users. This means that no transactions can be reversed and this therefore increases the level of responsibility. They provide equal opportunities for al the users. Users may switch roles at their own desire. The rules of use are fixed in Smart Contracts, hence there is no scope for deviation. Since the platform is developed via RSK’s smart contracts, there will always be ensured with High speed of transactions at 400 transactions per second and reduce costs. The users are given various roles to ensure that they win. They can take up the role of Wager, place a Bet or join the DCJ as a Judge. Since it’s a fully decentralized ecosystem, there will never be any issues arising for funds ownership. Each user retains clear cut control over their wallet and have the highest access rights.
The process starts when a Wager is created for an event happening in the near future. Users place Bets on suggested outcomes and once the event is over, the judges are called for verifying the result. These judges are responsible for giving fair and true results. The players are asked to choose the possible outcomes and choose the size of their Bet in TOSS tokens. Once the wager is published, it automatically becomes available to all the users. The platform also has multiple filters such as dates, categories, and tags.
Token and ICO
The token is denoted by the symbol TOSS and it is a functional token that will be used as the primary form of exchange between the users.
The entire ICO is divided into pre sale and token sale. They will be accepting payments in the form of ETH. They have a Hard Cap at the level of 71 500 ETH (main sale - 46 500 ETH, private sale - 25 000 ETH) , while Soft Cap is 8 500 ETH. The token sale dates: April 24th- June 24th. They seem to have a very promising token sale. Do take a look at their website to know more information about the ICO and the company.
For more details visit
Website:https://toss.pro/
Whitepaper:https://toss.pro/wp-content/uploads/2018/02/White_Paper_PROOF-OF-TOSS-WHITEPAPER.pdf
Published By:karanj
Btalk Profile:https://bitcointalk.org/index.php?action=profile;u=1030341