Why does the betting DAPP do not need to be issued?

In November 2017, the “Encrypted Cat” on Ethereum became the first DApp (decentralized application) on the blockchain. A cartoon cat that can only be seen but not touched can sell for $170,000. The high price does not attract the attention of all investors in the world, but also leads the trend of DApp.

Developers have launched various applications in the public chain of EOS and wave field. The increasing transaction volume and fiery data have made DApp the hottest topic in 2018. In all DApps, gambling can be considered the most popular category.

With EOS, the number of betting games has already accounted for 28% of the total DApps on EOS. In the top 10 DApps in EOS, 60% of them are gaming games, and the transaction volume also accounts for 71.74% of the total transaction volume. The wave of DApps in the wave field also accounted for 69.7%.

• Analysis of the market: On May 1st, the fixed investment in multiple positions will gradually reduce profits, and the bag will be the king.
• Getting started with blockchain | What is a 51% power attack?
• Money Anhe: To subvert yourself, instead of waiting for others to subvert | Chain node AMA highlights

The number of betting DApps is huge, but the gameplay is basically the same . Players bet and receive rewards at different odds. In addition, the Gaming DApp can mine, and each time you bet you will get the Token of the Gaming Game. These tokens can be pledged in the game in exchange for a profit distribution on the gaming platform; or converted to a decentralized exchange for conversion to a common cryptocurrency.

Using the most popular Endless Game example, if a player places an EOS bet, the player can get an ET of 2.5 regardless of whether he wins or loses. ET is the project Token of Endless Game. It pledges ET in the game and gets the profit of the game. The more pledge, the more dividends.

Why do betting games send coins?

The operation method of the currency is currently making the gaming game unique in the DApp. In general, the issued Token has three uses .

The first is pledge dividends . The Token issued by the Gaming DApp allows players to pledge the casino's profits by pledge, which means that even if the game loses money, the player can take a share of the casino's profits. In the casino, the dealer will definitely pump water, and the appearance of DAPP Token makes it easier for players to accept that they may still earn some money.

This method gives players more reason to stay in the gaming game, on the one hand to win money, and on the other hand to divide the casino's profits.

Moreover, with the emergence of Token, there is a new way to "stack the code" . "Stacking aberdeen" is to pull people's heads. In traditional casinos, new customers can get certain economic rewards, as well as in the gaming DApp. The first-time player can generate a game invitation link, and if the subsequent player enters the game through the invitation link, the Token obtained by the bet will be partially distributed to the inviter. Some influential companies and individuals rely on DApps to pull their heads, and even if they don't participate in the gambling process, they can make a lot of money.

In addition to attracting players and pulling people more effectively, sending money is also an important way for the team to make a profit . In general, the game team will retain a portion of the Token, each team's holding ratio is different, the highest is close to 50% of the total Token. The team can cash in on the exchange as the cost of running the company and DAPP.

But let's think about it carefully. The above mentioned Token functions are almost irrelevant to the blockchain. DApp's Token does not need to participate in these links at all. Any traditional casino can perform the same function even without the use of coins or traditional points or chips.

Profits are dividends and people are getting ahead. In traditional casinos, there is a well-established system. The blockchain is not needed. The Internet solves these problems.

Blockchain does not solve the problem of fairness and security

The problem that the blockchain should solve is the fairness and security of the casino .

In the game, the blockchain also guarantees the fairness and security of the game. Any drawn cards are already recorded in the blockchain and cannot be tampered with, so that every time the lottery results, everyone will Convinced, there will be no losers who question the old thousand.

But the introduction of Token raises another question – it artificially creates a new kind of unfairness.

The Token of the Gaming DApp is obtained at different times, the cost is different, and the earlier the admission, the lower the Token acquisition cost. Using Endless Game's ET example, the first players who enter the game can exchange 10 ETs with one EOS, but now an EOS can only switch to 2.5 ETs, which is equivalent to the EOS currency standard. The cost of an ET increases. 4 times.

In other words, when trading on an exchange, low-cost player chip prices are more advantageous than high-cost players . The first-time player gets the Token at the lowest price, and then the new player continues to enter. The cost of the player getting the token is higher than that of the early players. As the Token costs higher, Token is on the decentralized exchange. Prices will also rise, so early players get more profit on decentralized exchanges. The way the currency is issued is increasingly unfair to late game participants.

Not to mention that the cost of obtaining a Token for a team or project private placement will be lower. The main purpose of the project's currency is to allow the project or private investors to get a return by selling coins.

Moreover, the security of the Gaming DApp has also been questioned by users. Using EOS as an example, in September 2018, six EOS gaming DApps were hacked, of which EOSbet suffered heavy losses and 50,000 EOS were stolen. In October, another 4 gaming Dapps were attacked, and EOSbet lost another 130,000 EOSs this month.

Until April 29, 2019, the Gaming DApp on EOS remained unsafe. According to DeckShield, a PeckShield security shield, the three EOS Gaming DApps were hit by a new transaction memo, which lost a total of 12,883 EOS.

Gaming DAPP does not require currency

If you change the game Token to a platform currency (such as ETH or EOS), the entire game can still run, but there is no room for private investors or teams that want to cash out. It is because of the difference in Token acquisition costs, or the poor information, so that DAPP likes to send coins.

The DAPP team's currency has not only satisfied the purpose of making money, but also allowed private investors to use their personal connections to get resources to start the operation of the entire gaming DAPP.

When this model is seen, there is no longer a real person in the DAPP DAPP who wants to make money by gambling, but instead turns it into a probabilistic game. Everyone knows clearly that when you place a bet at the safest rate without restriction, the game conforms to the law of large numbers, and you only need to pay a fee to get the DAPP token. First participate, you can get Token first, the cost is amazing, then they arranged thousands of robots to batch brush Token. Then continue to invite new people to enter, let them pick up at a higher price.

However, if the Token is replaced by a public-platform platform, the team's income distribution is completely transparent, and private investors and teams can only benefit from the fee. Then this game will definitely not be played .

From the theory of the "fat agreement", if the DAPP team really wants to be responsible for this ecology, it should choose to use platform coins as the distribution method, in order to promote the healthy development of the overall ecology.

Taking EAP Fomo3D as an example, this DAPP mainly uses ETH as a bet and benefit means. When the game players are the most, it has caused the congestion of the Ethereum blockchain network, and more people realize Ethereum and this DAPP. .

Similarly, EOS PixelMaster Pixel Masters also use EOS as a game token. The game runs longer than other pixel games in the post, because later pixel games have been added to the mining function.

When you see a blockchain DAPP has its own token, please be careful. If you just want to experience the game, please enjoy it; if you want to speculate, I am sorry, you never know how much the price of the chips in front of you is lower than you.

BlockBeats' recommendation to the DAPP development team is that if you want to maintain the ecology of your game and participate in the public chain ecology, be sure to use the platform currency as a chip or points. The mining mode will only make your DAPP a brush. The mine was smashed by tens of thousands of robots.

Author: Block rhythm BlockBeats 0x29 Source: Block rhythm BlockBeats

We will continue to update Blocking; if you have any questions or suggestions, please contact us!