Public Crypto BLOG: S P 8 D E - A Decentralized Blockchain Platform For Gambling

On the Internet there is a huge number of gambling projects, casinos, high-yield investment projects (HYIP), their number is estimated at millions. Every day many of these projects are closed and opened due to illiterate management, fraud of organizers and lack of transparency.

Conclusion of funds from the system by organizers, low advertising budgets leading to system stagnation, incorrectly constructed economic model, lack of transparency in the system, problems with deposit input and withdrawal due to lack of project regulation.

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.

SP8DE is a protocol for blockchain-based platform with multiple features that are essential for the growing blockchain gambling industry and whose solid implementation is lacking in any of the currently existing projects in this space.

Sp8de is a blockchain-based platform capable of supplying unbiased public randomness for developing and running distributed casino applications. Spade is designed to suit the purposes of all the actors comprising the online casino landscape and as such represents the new breed of digital institutions, a distributed intermediary.

Sp8de is using blockchain technology, that has many advantages :

Decentralized 3.0
The backbone of Sp8de, the Cardano blockchain is the first Proof-Of-Stake protocol without security compromises.

Scalable and Efficient
Tens of thousands of transactions per second: no user experience constraints.

Sp8de Smart Contracts
Smart-Contracts scripting language that was specifically designed for this.

In what follows we will illustrate how Spade provides an environment for the design of gambling applications which are characterized with:

1. 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;
2. A mechanism to generate decentralized provenly uniform randomness at arbitrary time-spans;
3. 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);

Sp8de is the new-generation blockchain-based gaming platform aimed at all the participants of contemporary 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.

Cardano is scalable, secure, and complex yet elegant. The major takeaway is that designing a successful POS protocol requires solving the same problems that constrain the creation of provably fair on-chain casinos. With Cardano as a backbone, Spade is set to become the best of its kind.

Solving PROBLEMS

A number of other projects utilizing the blockchain are entering the gambling industry by either aiming to create a platform for online casinos or by simply placing a specific game or a variety thereof on-chain. As noted above, among the issues which are solved by simply creating blockchain-powered versions of the games, three main problems remain yet unaddressed:

Transaction Settlement Time: it takes significantly longer to settle a transaction on-chain than off of it as each block requires time to be mined.
Transaction Fees: the fee for each transaction can become prohibitively high and preclude small bet sizes.
Provably random: the generation of randomness on-chain is a challenging as miners can see and modify block headers before everyone else.

SOLVED

The Problems which solved by Sp8de using Cardano blockchain :

Transaction fees and scalability: the size of transaction fees is normally a function of the degree to which a given distributed system scales.
Random number generation: finally, Ouroboros, the POS protocol underlying Cardano blockchain in its workings fully relies upon generating unbiased (i.e. uniformly distributed) entropy.
Flexible and finance application-tailored scripting language: those who have experience with the Bitcoin scripting language know how draconian and inflexible it is, those who spent thousands of hours grinding through Solidity (the Ethereum scripting language), know how quickly it might become overly complex.