EtherJack
At the moment, there exist a number of games and platforms working within the
blockchain, powered by smart contracts. However, because of certain technical
limits, most of these games are effectively incompatible with the architecture. As a result, on-chain gambling is constantly talked about but old-fashioned off-chain games being susceptible to all the same dirty tricks are played. This problem might be solved when blockchain becomes faster and transactions are confirmed within seconds.
EtherJack offers a game, for which quick transaction processing is not critical, and which is latency tolerant. The game is designed in such a way that the presence of the latency does neither break the game nor make it less interactive or engaging. Thus, EtherJack enjoys all the advantages of an on-chain game (100% fair and transparent, with clearly defined and unchangeable rules) and doesn’t suffer from the downsides associated with slow processing speeds.
EtherJack.io is the first fully smart contract based jackpot game. The core game process is safe and secure, running completely on-chain, operated by contracts with disclosed source code, with only optional extensions basing off-chain.
In EtherJack, the whole game process is controlled by participants, in this sense it’s a massively multiplayer community game.
This is the game: There’s a jackpot and there’s a countdown timer running, if someone bids that person now claims the jackpot, the bid is added to the jackpot and the timer is reset. If nobody claims the jackpot by the moment the timer runs out, it goes to that last person who placed the bid. The rules are simple
All described above is totally implemented in smart contracts with published source code thus the developers (or anyone else) can’t affect the game process, can’t manipulate or adjust it, or change the rules on the fly. The fixed contract code ensures the game is transparent and fair to all participants.
The JACK token ICO
A total of 1 million JACK Tokens were created. 2.5% of the amount
will be used for bounty rewards. The rest 97.2% is available for sale during ICO.
The ICO lasts until the jackpot (Jackpot contract’s balance ) has at least 333 ETH.
When the threshold is reached, a 2 day timer starts. When the timer runs out,
ICO ends, and the game starts.During ICO, investors transfer Ether to the Jackpot Contract (0xe64d5f33E28387855d33980719f27f0d579392aF) and receive JACK in return.
JACK is the token currency used in the game, so it has its intrinsic value
just according to the game rules, and a growing price as coded in the contract.
The sale price of JACK changes during ICO, so it’s more profitable to buy first rather than last. 20% of each sale during ICO, is used for the marketing budget.The rest (80%) goes to fill the jackpot. The more Ether is accumulated in the jackpot by the game start, the more attractive the game will be for the players. Player activity generates profit for JACK holders and makes the price of JACK grow faster.
The JACK token has an intrinsic value as it has two main functions:
• It can be used for bidding instead of Ether (therefore its value is no less than the bid price at any time);
• Its holder can get (dividends) of all bids made and new JACK tokens
sold through the Jackpot contract.
The value of JACK is backed by the presence of the jackpot prize, since the jackpot is the motivating factor behind players placing bids. Every time a bid is made, jackpot grows in size, dividends are paid out, and JACK supply stays the same. This drives the growth of the value of JACK.
There is a fixed initial supply of 1 million JACK. The total supply will never exceed the initial supply and can only decrease due to JACK tokens being burned when used for bidding. No new JACK will ever be minted..
LINKS FOR FURTHER INFO:
Game website: https://etherjack.io
Twitter: https://twitter.com/etherjack_io
Telegram: https://t.me/EtherJack
Bitcointalk announcement: https://bitcointalk.org/index.php? topic=2810343
Whitepaper: https://etherjack.io/EtherJack.io.pdf