Re: [ANN] [ICO] EDGELESS - New Era Of Casino (0% Edge and Full Transparency)

WoW Project Edgeless Casino another gaming token Wink

What is the difference and what are the advantages of your tokens, and tokens vDice?
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Yes

Ethereum Smart Contracts can be a total game changer for a whole gambling industry, therefore so many projects are raising in this area. Seeing this potential from our first project: etherslots.win we decided to create more powerful.

A short comparison table of Edgeless and vDice.

vDice - fully transparent dice

it's a first ethereum dice. Concept is pretty much similar to any dice casino, however it's using Ethereum Smart Contracts which makes a game fully transparent - that's a game changer. However ethereum blockchain does not have required transaction speeds for gambling dapp - it takes 1 - 2 minutes for vDice to generate a random number and decide a winner. From user experience, its really bad (hopefully ethereum blockchain will improve and transactions are going to be faster) and for now there is no way to scale a business, compete with bitcoin/ fiat casinos. It also offers a profit sharing model which is nice but might lead to legal troubles in the future. Also token has a hard time being accepted to large exchanges. Exchanges do not want to take profit sharing tokens, it's too risky for them from legal point of view.

Edgeless - next generation gambling experience

Edgeless will be on Ethereum Blockchain which guarantees a transparency.

Edgeless offers luck + skill games (Black Jack, Lunar Poker) with a 0% house edge. This is a totally new gambling concept, it's like next generation gambling experience. Idea is not new, people have been discussing it for years. However it was not possible to implement it on fiat running casino - operational costs are too high. Thank's to blockchain, crypto operational costs extremely low in comparison to fiat online casino - it makes possible to run a 0% house edge casino (0% edge luck+skill games profitability is similar to 0.83% edge pure luck game: https://wizardofodds.com/image/ask-the-wizard/how-poor-are-bj-players.pdf

Also 0% house edge games is a perfect marketing to attract masses of gamblers: https://medium.com/edgeless/casino-with-0-house-edge-perfect-marketing-strategy-7c1f2d49beb0#.9ufrf25j8

Edgeless is using different transparency mechanism (people will not need to wait 2 minutes) which makes casino way much faster and more user-friendly. Therefore we can compete with fiat casinos. More info: https://medium.com/edgeless/ethereum-blockchain-casinos-are-extremely-slow-solution-aaa2e3e95208#.c38fktdxt

Edgeless DOES NOT offer profit sharing token. We are more safe from legal side and our token has way much higher chance to appear on large exchanges.

Our token is backed by a monthly lottery game where EDG tokens can be used win a share (40%) of casino's profit.

I think vDice had a first mover advantage, and while we are not first on Ethereum, we had to learn from vDice mistakes and improve all other areas of our business model. We are aiming to compete with fiat online casinos - because that's where real casino market is!

So, what do you think about our concept?

Thank you very much for the detailed answer and comparisons and the benefits of your game! For yet now I can not say what I think of you! I need more time to study the white paper!

Thank you for your interest

If you have some more detailed questions, feel free to join our slack community group. We will answer instantly: https://edgelessethcasino.signup.team/

Also test today game http://etherslots.win ... created a new wallet, started the 1 ETH began to SPIN the drum, tried to play 10-15 times the rate of 0.1 or 0.2 After you click SPIN to spin the drum about 2 minutes and and nothing happens, and I did not win or lose to write off the balance of about 0,1ETH assume that transaction Angry

That's why we are creating Edgeless Casino - casino which can generate a random number FAST and have a proper gambling experience.
Reason why our slots are spinning for 2 minutes, it's because it uses same method as all Ethereum casinos. Random generation through oraclize. It requires 4 requests to the blockchain for random number generation. And that's why our slots, vDice or any other Ethereum casino is extremely slow.

Our new model will use blockchain only 2 times and non of them are going to be related to random number generation. However these requests will validate whether it's a real random number or not.

A short summary: it will take 2 hashed seeds. One from player, one from casino and smart contract will bend into a number which will be used for randomness generation. Right now all bitcoin casinos are using a same method, but they can easily cheat. Because they can provide their seed as 2nd entity and know player's seed before hand (that's the method 999dice.com is using to cheat against own players). In our model, casino will always provide own seed 1st and process will be guided using ethereum smart contracts. That's why casino cannot cheat without being spotted on the blockchain.

Here we have detailed explanation how Edgeless random generation will work:

https://medium.com/edgeless/finally-we-will-have-fully-transparent-casino-in-2017-7ef1ecd845a#.hveoaugq2
https://medium.com/edgeless/ethereum-blockchain-casinos-are-extremely-slow-solution-aaa2e3e95208#.47hdjvmdy

Quote from: fantoos on February 11, 2017, 07:08:06 PM

I was interested to read about 0 % house edge at the moment because without casino may be run but what benefit will I get as investor. Where the all revenue of profit will come in case casino doesn't charge any fee for its services through platform to perform gambling activities. any answer would be great though I also am reading the whole opening page slowly to catch the idea.

catch is:

Our games are not pure luck games. We will offer games of luck + skill such as Black Jack or Lunar Poker. That means, casino makes profit from imperfect play of the player. On average players make mistakes for 0.83%. So 0% house edge luck + skill games is equivalent to 0.83% pure luck game such as roulette. Data behind Black Jack: https://wizardofodds.com/image/ask-the-wizard/how-poor-are-bj-players.pdf

Concept is not new. People have been talking about 0% already for a while, however it's extremely hard to implement on fiat currency casinos - due to high operation costs. Thank's to blockchain crytocurrency - casino operational costs are extremely reduced and it becomes possible to create a casino which offers 0% house edge and has absolute transparancy.

Detailed explanation how luck + skill games work: https://medium.com/edgeless/0-house-edge-blackjack-and-0-house-roulette-whats-a-difference-in-casino-profitability-c8d732142433#.7xz8fjec5

So what do you think about this concept?