DAO.Casino is making headway on its next-generation blockchain wagering platform. Unlike many of the other blockchains that can support online gaming, DAO.Casino is purpose-built with gambling in mind.
The company recently announced that TestNet 2.0 is now available and that it brings some great new features to anyone who is interested in helping DAO.Casino to take its platform live. Anyone who wants to use the platform can do so, and help to develop what could be the most popular blockchain wagering architecture in a few years’ time.
Online gambling is an enormous market, and it is a perfect fit for blockchain-based platforms. The real issue for developers is finding the right blockchain platform for online gaming so that there aren’t ongoing problems for the online betting community.
DAO.Casino has identified some of the most important aspects for a blockchain-based platform to bring to the marketplace, and TestNet 2.0 demonstrates a continued commitment to creating a first-tier blockchain that would fit the needs of both online casinos, and gamblers.
DAO.Casino Brings TestNet 2.0 Online
DAO.Casino’s TestNet 2.0 is an opportunity for anyone that wants to participate in the development of an amazing gambling-focused blockchain to jump onboard.
The update to its original TestNet 1.0 adds numerous features, including the ability for users to become both Validators or Delegators. Validators will be able to fully participate in the democratic platform that DAO.Casino has created, and users can vote for Validators with the platform.
Users can create accounts with DAO.Casino’s TestNet 2.0, as well as deposit test tokens with Validators, and stake them against Blockchain’s resources. Users can become Validators, as long as they possess enough of the BET token, which is the native token for the DAO.Casino platform.
According to the company, some of the most important innovations in DAO.Casino’s TestNet 2.0 are:
-Dedicated staking resource type “vote” used for Validator voting along with traditional CPU and
-Dynamic number of Validator nodes based on the total stake amount (from 21 up to 100);
-Transaction sponsorship for providing a way to “sponsor” resource reservation needed for
transactions made by other accounts. This feature will allow organizations to easily onboard new
users by performing actions on the blockchain without initial token deposits.
DAO.Casino has an interesting approach to the token economics of its platform, as has made community involvement the cornerstone of its design philosophy.
A Superior Gambling Platform
Online gaming is a billion-dollar industry. There is no end to the number of events that could be used to drive wagering, but the online gaming space has some big problems.
Whenever there is money on the table, trust is an issue. Many of the largest online gambling providers have less-than-stellar reputations. It isn’t hard to find a long list of complaints about failure to pay for winning bets, or other serious account problems.
Blockchain is a perfect solution for online gambling. There is certainly no shortage of blockchain-based wagering platforms, and people everywhere seem to understand that the future of online gambling is probably going to be based on blockchain.
Better Ways to Wager With DAO.Casino
Development at DAO.Casino is moving quickly.
DAO.Casino has made a number of advancements in the development of its platform outside of the TestNet 2.0 release.
One of the biggest things to come out of the company in the last few months is the announcement that it would be using an On-Chain Random Beacon based on deterministic threshold BLS signatures.
In plain English, this puts DAO.Casino in a unique position in the online gambling space. Other blockchains struggle to make events provably random, which is the basis of many casino games.
The Need for Provable Randomness
DAO.Casino decided to use a built-in random number beacon that is rooted in deterministic threshold Boneh–Lynn–Shacham (BLS) signatures. These BLS signatures create a provably secure pairing-based system backed by research that was undertaken by Stanford University.
Random values are created by block producers who sign a common message which can then be used to generate a composite signature. That signature is then treated as a deterministic random number, but only after 2/3 of the block producers receive cryptographical signatures.
Unlike other blockchains that struggle to provide this type of provable randomness, DAO.Casino has created it at a base-level in its architecture. As a tailor-made solution for online gambling, DAO-casino is setting itself from the pack.
DAO.casono’s Innovative Token Economics
DAO.Casino’s Test Net 2.0 includes the ability for token holders, called Delegators, to vote for block producers, also called Validators. The DAO.Casino token ecosystem is highly democratic, which may be one of its most attractive features from the standpoint of a decentralized system.
Unlike the online casinos of the moment, DAO.Casino opens the door to a fully-featured online wagering space that is free from the problems that centralized authority creates.
It is simply unacceptable that a casino can keep a punter from collecting on their winnings.
The control that smart-contracts create for everyone involved in a transaction is a huge benefit, but the ability for users on DAO.Casino’s system to vote for block creators takes decentralized control to an entirely new level.
How DAO.Casino Makes it Work
When a person chooses to participate in the DAO.Casino ecosystem, they won’t be charged any feels or commissions on smart-contracts when they are executed.
DAO.Casino creates income for Validators by forcing anyone who wants to build a dApp on their blockchain to stake a certain number of tokens, which will be calculated based on how many blockchain resources the stake will demand.
According to DAO.Casino:
Resources, allocated by stake can be:
CPU – The measure of computational complexity
NET – Number of bytes transferred and stored
Voting – Special resource type, associated with the Validator election process voting power
The minimum lock-up time is 2 weeks, during which staked tokens cannot be transferred or spent in other ways, but still remain in possession of the user.
The removal of any charges related to executing a smart-contract is a good thing for any dApp that seeks to create a wagering platform, as it removes one of the biggest costs associated with using blockchain for online gambling.
There is Still Time to Jump on DAO.Casino’s Development Team
The launch of DAO.Casino’s Test Net 2.0 is a big step in the direction of a much more open and adaptable online gambling space. Anyone who wants to become either a Validator or Delegator on Text Net 2.0 can find more information about how to join on DAO.Casino’s site, as well as tutorials for both positions.
As cryptos more into the mainstream, there will be a global demand for rock-solid blockchain wagering platforms that can cut centralized authorities out of the equation. The advantages to gamblers are enormous, and there has already been a lot of interest in the sector.
DAO.Casino is also creating a holistic solution for wagering dApps, which can be tested out today. TestNet 2.0 is a big step in the right direction, and it could help to propel DAO.Casino’s architecture into a leading position in the global betting industry.