Breaking the Two Most Common Myths about DAO.Casino
It appears like deja vu!
Just a few months back, DAO.Casino was approached by a reporter who was keen to know about our relationship with “THE DAO PROJECT”. After arguing with him for hours, explaining that we are nowhere closer to the business structure of The DAO, which was an investor-directed venture capital fund, we wrote this lengthy post to present our case, and the noise settled.
But it seems like we have more explanations to make, this time for our so-called similarity with fellow casino projects. After we announced our project on BitcoinTalk, a handful of responses we received were “just another casino platform ICO”, or to be more specific, “copy of beep-beep-beep.”
While we have tried to answer on BitcoinTalk, we believe writing the truth on a bigger wall will make more sense. This is the very reason we are writing this blogpost. So without further ado, let us find this opportunity to break the most common myths about DAO.Casino.
Myth #1: DAO.Casino is a casino platform
We don’t blame people. Our name has the word ‘casino’ and it wouldn’t even take a Joey Tribbiani to guess that we could be a casino platform. But in reality, we are not. DAO.Casino is actually a protocol for gambling industry. Its an automated value distribution system acting as an mechanism of incentives and expressed in a system of Ethereum contracts.
So if somebody thinks that an Ethereum-based casino platform ABCXYZ is a competitor of DAO.Casino, it is wrong. Our protocol doesn’t compete with casino platforms; it in fact welcomes their integration.
Myth #2: DAO.Casino has a usual PRNG System
There are 3 methods to get pseudorandom numbers on Ethereum virtual machine that everyone is using: an oracle, internal blockchain data, and a server (which is also an oracle really). As far as pseudo-randomness goes, DAO.Casino is bringing an out-of-the-box approach. We won’t be using servers to generate randomness. Our is against the common practice, but we need PRNG to work fast but we also need to keep it decentralised and to eradicate the need of servers by using economic incentives (and counter incentives) on top of technical layer of providing equally unpredictable pseudorandomness for the games.
For our first release, we have chosen to implement Signidice algorithm on the games released for testing by the time of the launch. This algorithm is suitable for Ethereum-based games, where the outcomes of each bet is dependant of two things: RNG and — optionally — the number, chosen by player, without the action of the other player. The Signidice algorithm, therefore, is suitable for two party games such as roulette, slots, etc.
We always make a point that instead of thinking of decentralised gaming & gambling industry related projects as competition we should start thinking centralised vs decentralised. Almost a quarter of all smart contracts (as of Jan 2017) on Ethereum that are marked verified on EtherScan are game related. Growth in this field for the past 1.5 years means the market is growing & it’s good for the overall industry. If there were just one game or one casino it wouldn’t find a proper market niche in gambling industry and wouldn’t remain weird fringe stuff. If many people making games and casinos it makes sense to create something like DAO.casino — figure out PRNG and decentralised transparent value chain.