SP8DE Review and ICO Detail-A DECENTRALIZED PLATFORM FOR GAMING DAPPS
In the European Union the online gambling industry grew nearly 19% from the first half of 2015 until the first half of 2016. The casino industry in particular generated over US$2 billion in revenues during this period. It is expected that until 2020 this number will reach US$2.25 billion per year representing about 12.5% revenue growth. In the US for the period 2015 until 2016 online casino revenues increased by 24.4% and are expected to reach US$4 billion by 2020.
The EU and the US are just a small part of the worldwide casino industry.Globally, the projections of the online casino show that for the period 2017-2025 the market will experience growth of about 130% reaching US$97 billion with cumulative annual growth rate of nearly 11%. Currently over 6 million adults are officially participating in gambling activities around the world with projections of reaching 10 million by 2020.
Since inception, the blockchain technology was the subject of close attention by gambling enthusiasts. Recent news from The Merkle show how popular online Bitcoin betting has become. In aggregate the wagers put on online Bitcoin casinos in February 2017 have reached nearly 3 Bitcoin per minute. The price of Bitcoin at the end of February was about US$1,200 while now it is US$5,900 (approximately 292% growth) which means that as of today almost US$715 million worth of Bitcoin was gambled in February alone.
The Mechanics of Spade
Spade is the new-generation blockchain-based gaming platform aimed at all the participants of contemporar casino ecosystem. We call it “new-generation” as Spade satisfies all the aforementioned conditions of a ‘proper’ blockchain casino. We build Spade on top of the blockchain called Cardano.
The Cardano project itself is a monumental work that embraced the best practices and most far reaching innovations in the area of cryptocurrencies and packed them into a single state-of-art system. It is being developed and maintained by a large team comprised solely of PhDs in the field of programming and cryptography, and experienced engineers.
In what follows we will illustrate how Spade provides an environment for the design of gambling applications which are characterized with:
- Close-to-absent transaction fees and Proof-of-Stake powered scalability that is beyond the reach of any other on-chain casino protocol currently in existence
- A mechanism to generate decentralized provenly uniform randomness at arbitrary time-spans
- Provides rich Smart Contract functionality that allows for creativity in game design that is bounded solely by the fantasy of the developer (and the demand for the resulting product of course)
The Spade Protocol
Before delving deeper into the mechanics of the SP8DE protocol itself, we opt to give a brief overview of the Cardano blockchain and, in particular, the Ouroboros protocol that underpins it. As mentioned above,Ouroboros is the first provably secure POS protocol. All POS protocols rely heavily on the miner selection process whereby a participant is selected at random to sign a block of transactions.
In essence it is a POW system without the anchor to the real world – that of processing power. A precondition for an effective POS protocol is the ability to select the next ‘miner’ (or minter using the POS jargon) randomly with the
uniform probability which is proportional to one’s stake in the system. The uniform nature of the probability distribution is an essential element: if it can be skewed or biased by any protocol participant, the security is compromised rendering the protocol useless.
At the heart of Ouroboros is the so-called Follow-The-Satoshi (FTS) procedure. Its essence is simple: assuming input of the uniform randomness, FTS is guaranteed to select a stakeholder with the uniform probability proportional to the number N of coins (or satoshis) one possess relative to the total number of coins in the system. In short, FTS does the job: it possess the qualities required to make an effective POS protocol. But, as always, there is a catch: FTS assumes input of ‘proper’ randomness. But where does it come from? Before answering this question, let us lead your through the mechanics of FTS procedure itself: it will prove useful later on.
Whether to Invest or Not?
Unlike the current centralized gaming sites, spade requires participants to fully understand the mechanisms of the ICO procedure instead of depending on the graph figures. This can prove to be cumbersome to first-timers for it follows a strict structure that is quite confusing.
Additionally, due to the decreasing value of tokens after each sale, individuals taking part in jackpot rounds have slimmer chances of winning the large jackpots giving more chances to those who enter later. This can be discouraging to early entities even though they have higher chances of participating in as many rounds as they please.
|Crowdsale Opening Date||
34 days ago
|Crowdsale Closing Date||
in 28 days
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