introduction
Welcome to Spade, a blockchain-based platform that provides unprejudiced public randomness for the development and operation of distributed casino applications. Spade is designed to serve the interests of all actors in the online casino landscape, representing the new generation of digital institutions, a distributed facilitator.
The spark that sparked this project and continues to inspire us is that the early Blockchain and Bitcoin casinos just did not get it right. The blockchain community was younger and wilder, ideals of distributed freedom burning brighter ... still, early adopters applying blockchain technology to gambling promoted false ideals; which undermine the image of decentralized casinos. Instead of promoting transparency and cost-effectiveness that characterize blockchain technology, they promoted anonymity and cyberanarchy. Instead of making the casino for everyone, they kept it to themselves.
We are not to judge here. Instead, we are here to change. We do not say that old ways are bad, but we can prove that new ones are better. We believe in the decentralized future and appreciate the charm of gambling.
We quickly realized that between the old centralized gambling and the future globally distributed casino is just a fragile glass wall. That's it, a simple but intriguing idea. The future is here: We can run a decentralization casino with near-zero transaction fees and proven fairness randomness
As is often the case, technological advances have taken a giant leap forward that has gone unnoticed by most people: people still prefer the traditional narrow-minded and boring online casinos that are draconian house edges and can not be fair. Once again, no one has the right to judge: it's just an existential business need, produced by a rundown business model and an inch of greed.
Worse yet, even the most enlightened ones, those experiencing the dawn of the distributed world, have noticed, synthesized, a perfect match between distributed consensus protocols and gambling applications, and nothing. Some of these projects have been infamous for money laundering charges, some have affected the beauty of the idea by running centralized online casinos and simply cryptocurrency deposits, others have their moments of fame during the TGAs, but today only a few can remember names of these projects. Of course, there are some notable exceptions to this rule, but while they are locally successful, all these projects have not attracted attention. None of them has conveyed the essential message: "There is no glass wall; The future of gambling is now; we are better at every single quantifiable aspect;
We will do what no one has done before. Spade is a blockchain-based platform for the development of distributed gambling applications. As a platform for self-respecting gambling applications, we are equipped with the protocol to generate unprejudiced public randomness. As a team with some ambitions, we have demonstrably decentralized it fairly and completely. We believe it is important to stay true to the spirit of our business: if Blockchain is the universal and undisputed source of truth, then it should also be the broadcasting channel of chance. We think that individual points of failure should be perceived by everyone as a relic of the past.
This property that most restricts us is only part of what we offer in terms of the technology stack. In the following, we will delve deeper into the revolution in which we all are and detail the best
Explain iGaming protocol that the world has ever seen.
Industry Overview
In the European Union, the online gambling industry grew by nearly 19% from the first half of 2015 to the first half of 2016. The casino industry in particular generated more than $ 2 billion in revenue during this period. It will
expects this figure to reach $ 2.25 billion a year by 2020, representing sales growth of approximately 12.5% [1]. In the US, online casino revenue for the period 2015-2016 increased by 24.4% and is expected
by 2020 to $ 4 billion [2]. The EU and the US are only a small part of the global casino industry. Globally, online casino projections show that the market will grow by around 130% in 2017-2025, reaching $ 97 billion, with a cumulative annual growth rate of nearly 11%. Currently, over 6 million adults are officially participating in gambling around the world, with projections of 10 million by 2020 [3].
Since its inception, blockchain technology has been closely watched by gambling enthusiasts. Recent news from The Merkle [4] shows how popular online Bitcoin betting has become. Overall, the betting stakes made in February 2017 in online Bitcoin casinos have reached almost 3 bitcoins per minute. The price of Bitcoin was about $ 1,200 at the end of February, while it is now $ 5,900 (about 292 percent growth). This means that Bitcoin lost almost $ 715 million in February alone.
Currently, online casinos seem to be only slightly affected by the growth in interest in Bitcoin gambling and the blockchain-based casinos, which at present seem to complement traditional online gambling.
However, this is happening at an incredible pace and the trend is showing the possibility that blockchain-based gambling can take over online casinos. If the current pace of technological advances in the blockchain industry continues, consumers will soon be left with no advantage in the more traditional online casinos.
1. To form this index, we create an equally weighted portfolio of 888 Holdings, bet-at-home.com, GVC Holdings, Ladbrokes Coral Group and MGM Resorts (although Bitcoin is only traded on weekends and holidays days).
2. When replacing "Online Casino" with "Online Gambling" the results are similar. Even replacing "Bitcoin Casino" with "Blockchain Casino" does not change our results. The results of the search for "Ethereum Casino" are similar to those at "Blockchain Casino". However, one must keep in mind that it is possible that people looking for these keywords are not looking for a true blockchain-based casino, but want to play cryptocurrency like Bitcoin.
Spade is the new-generation blockchain-based gaming platform aimed at all participants in the modern casino ecosystem. We call it "new generation" because Spade meets all the above conditions of a "right"
Blockchain casinos met. We build Spade on the blockchain called Cardano [24]. The Cardano Project itself is a monumental work that incorporates the best practices and most far-reaching innovations in the field of cryptocurrencies and packages them in a single state-of-the-art system. It is developed and maintained by a large team of graduate programming and cryptography programmers and experienced engineers.
In the following, we will show how Spade provides an environment for designing gaming applications that are characterized by:
Nearly missing processing fees and proof-of-stake-based scalability, which is out of the reach of another existing on-chain casino protocol;
A mechanism to produce decentrally proven uniform randomness at arbitrary lengths of time;
Provides rich smart contract functionality that enables creativity in game design limited only by the developer's imagination (and, of course, the demand for the resulting product);
Fairness of earnings is essential to gambling; It is the core.
Spade uses Cardano to shape its ecosystem, solving the problems normally associated with the on-chain casinos described above. Here's how:
Transaction fees and scalability: the size of transaction fees is usually a function of the given value. Scalability can be defined as the relationship between system resources and the number of nodes. Scalable systems gain in efficiency as new nodes join the network:
BitTorrent and IOTA protocols are two prominent examples. Proof-of-work based blockchain systems do not scale by construction: indeed, maintaining a common ledger implies every node possessing a full copy of this ledger. Without this condition, the security - most important property of such systems - is compromised. Therefore, there is no gain in efficiency when a new node joins the network. Ouroboros is a Proof-of-Stake protocol, meaning that at any given time, a trusted set of nodes maintain the integrity of the system other systems and are directly relevant to gambling protocols.
Random number generation: Finally, Ouroboros, the POS protocol underlying the Cardano blockchain, relies entirely on the generation of an unbiased (ie evenly distributed) entropy. The nice thing about the idea is that the blockchain itself serves as a broadcast channel: the even randomness is generated on-chain! That's the key point for us, so let's go into that.
POS systems are highly dependent on the ability to generate good randomness "to inject pure entropy into the system". Without it, the integrity of the protocol can be interrupted. This results from the fact that if there is a way to manipulate the process of selecting an agent that is selected to validate the next block, an adversary can influence the voting process. This is the root of the infamous "nothing-at-stake" issue and invalidates the whole concept of POS-based distributed consensus protocols. Another prerequisite for the plausibility of POS protocols is, in addition to the provable random number generation, that these numbers are actually passed to all participants of the protocol. In other words, the delivery of uniform randomness must be guaranteed at the protocol level. To be a valid term, especially from a formal academic point of view, Ouroboros must have a mechanism to create and transmit "good" randomness. In addition, to be scalable, the generation and verification processes must be computationally cost effective.
S P 8 D E THE GAME OF CHANCE. CHANGED. READ WHITEPAPER
TOKENS A DECENTRALIZED PLATFORM FOR GAMING DAPPS ROADMAP
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Author: Rggadi