Quote from: magician on March 23, 2014, 09:12:53 PM

Description

http://chancecoin.com/static/images/logo.png

Chancecoin (CHA) is a protocol, coin, and client used to bet on dice rolls and other games in a decentralized casino. Owners of the coin may gamble, with randomness provided by published NY Lottery Quick Draw numbers. Owners of the coin are automatically invested in the house bankroll. The protocol is built on top of the Bitcoin blockchain. Coins were created by burning Bitcoins during a proof of burn period.

Burn information

Maximum coins burned: 1,000,000
Burn period: Bitcoin blocks 291860 to 298340
Coins burned in first block: 1,500 CHA per 1 BTC
Coins burned in last block: 1,000 CHA per 1 BTC (coins per block scaled linearly in between these blocks)
BTC burn address: THE BURN PERIOD IS OVER
Maximum coins burned per address: unlimited

Casino information

House edge: 1.0%
Maximum win: 1.0% of bankroll

Wallet software

OS X binary
Windows binary
Install from source on GitHub

Installation instructions

See http://chancecoin.com/participate

Resources

Home page
Download Chancecoin software -- including decentralized casino, decentralized exchange, and wallet
Technical details
Subreddit

How do I buy CHA?

Download the Chancecoin software and place an order using the decentralized exchange. Or buy CHA on the official centralized exchange, Poloniex.

How do I gamble?

You can gamble using the decentralized casino in the Chancecoin software. Open Chancecoin and click on "Casino." Choose the amount of CHA you want to bet, and the desired payout or odds of winning (one will determine the other). Then click "Roll."

How do I bankroll the house?

By owning CHA, you are automatically bankrolling the house. On average, you can expect to earn the house edge of 1.0% per bet.

Donations

Donations to 1CHANCeWHSRAfvfi4rwo8v6NEY64RfZYqB are welcome.

Developers

Magician and Venetian

I've read in the technical section of Chancecoin's site how payouts are handled. But I would appreciate a more in-depth technical explanation of the following topics. How is Chancecoin at all protected from an individual altering their client to award themselves extra Chancecoin? What is the method of consensus between peers to determine the proper random numbers to use? When a gambler loses how is the CHA verifiably destroyed, and when a gambler wins where does the b*(p*(1-e)-1)*c/(c-b*p*(1-e)) CHA come from? Has anyone read through and verified that the source code was secure? No where in this thread have I seen proper replies to these questions.