Fair Plays at Peerplays—Blockchain’s Own Gaming Platform
Let’s face it, online gaming has never been the fairest for gamers. With hackers and tweakers of all sorts, you never know when your pro opponent is a mere bot.
Enter Peerplays—a decentralized, provably fair global gaming platform, built on the most advanced blockchain technology available today. The platform allows users to design their own specialized tokens or chips, as well as trade gateway tokens for popular cryptocurrencies and then wager those tokens in the games present on the Peerplays blockchain.
Players are matched on the platform on a peer-to-peer basis instead of having a house (like you have in most games where player wager some amount of money). A point to be noted here is that whatever amount is wagered by the players, is escrowed by the smart contracts. These are released to the winners when certain conditions in the game are met and verified.
As you might have already understood, this makes the game as fair as it gets. Moreover, the blockchain is a trustless system so you don’t really have much to worry about in terms of security.
You might be wondering how fast the system is, right? Because surely a system so good would have millions of players on it. As Peerplays’ whitepaper states, “It currently offers the fastest block production times and the highest throughput of any decentralized blockchain consensus mechanism available – supporting 3 second blocks and a potential throughput capacity of over 100,000 transactions per second.”
BitShares, Steem, and Muse are all built on the technology behind Peerplays, Graphene. On Graphene-based blockchains, stakeholders elect trusted signing “witnesses”, and a periodic, randomly chosen deterministic block signing order allows each witness to know when their turn to sign is approaching. Thus, block production speed is only limited by the bandwidth capacity of the signing nodes and the speed of light – which is about 1 second for a packet to circle the globe – meaning a high bandwidth network could achieve about 1 second average block times.
Not just fast, it is—as they say—provable. It is a universally auditable platform and all smart contracts written for the platform are written in open-source code. So if you’re having trust issues, check the code, simple. The way it works is as follows:
“By broadcasting an OTC, each player essentially enters into an “arbitration agreement” with the blockchain, after which time their only recourse is to follow the rules. The release of escrowed funds is always dependent on voluntary moves (or lack thereof) on the part of each player, so failure to perform these actions in a timely manner, or failure to produce the “winning hand” automatically removes a player’s eligibility to receive the jackpot payout.”
Pretty simple, and perhaps something that didn’t require you to frequent Google, right? It isn’t every day that you come across a cryptocurrency that explains how it works as simply as this one does. And that is something worthy of a lot of appreciation.
Wait! There’s more. At the time of writing the article, Peerplays (PPY) was trading at a little under 1 USD—a gain of about 4 percent in the last 24 hours. During the day, PPY was trading at 1.06 USD which it hit multiple times throughout the day. Earlier this month, the cryptocurrency traded at 1.12 USD. Looking at its 100-day chart, the trend has been an upward one, showing a lot of promise. On an annual chart, however, the trend has been quite a downward one.
With a total market cap of $4,488,932 USD and a 24-hour volume of 263,625 USD at the time of writing, the cryptocurrency certainly did seem like one which is here for long.
And that is still not it. The platform is still growing and is coming up with new features which are being built as you’re reading this article. So watch out for PPY, for it might be just the right kind of cryptocurrency you would want in your portfolio.