Quote from: EtherSpin on March 11, 2018, 12:00:24 AM

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Quote from: ninjaskip on March 05, 2018, 01:45:40 AM

Does Etherspin run on top of Ethereum? How would it be possible to bet with coins that are not a standard ERC20 token?

Great question! For ERC-20 tokens, we will handle it directly on the Ethereum blockchain through smart contracts. The implementation of non ERC-20 coin bets will be handled by watching incoming bets, passing that data directly to our smart contract which then will involve requesting a random number as we did before, and logging the bet event (with proof and result) to the blockchain for records. Then, our server will distribute the winnings accordingly. As a result, the bet process will be partially off-chain. However, the random number generation and proof remains the same - retaining the advantage of provable fairness in EtherSpin's platform. Users can still verify the authenticity of the bet by viewing the bet event details through a block explorer.

Thank you for that interesting answer, but there is another question I would like to ask in regards to your response. If the distribution for winnings from off-chain bets happens via your servers, does that also mean that part of the process is centralized?

Great point! Many cryptocurrencies do not support smart contracts like Ethereum does. As a result, we are able to decentralize the important aspects of gambling. Without smart contracts however, many cryptocurrencies lack the same functionality smart contract-based cryptocurrencies allow.

In other words: in it's final version it is mostly decentralized or completely decentralized? I hope I don't get on your nerves, I just want to understand your setup in full. I personally am a strong believer in decentralization in regards to almost any aspect of life.

No problem! The goal is full decentralization of the platform. There are upcoming advancements and improvements being made in coins that will allow cryptocurrencies like Bitcoin to be added with full decentralization. See here: https://altcointoday.com/lightning-network-developer-is-bringing-smart-contracts-to-bitcoin/

The technology advancement is moving towards decentralisation more and more. I think Etherspin will really be benefiting the community for having a Smart contracts and decentralised platform!

thebestgamer

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