DAO.Casino ICO starts on the 29th of June

Perspective blockchain platform is designed to bring transparency and decentralization to the gambling industry
29 June 2017   733
Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks
 

Ethereum

 An open-source blockchain-based distributed computing platform featuring smart contract functionality, which facilitates online contractual agreements 

Gambling is one of the most popular profitable entertainment industries in whole world. Nowadays, there are a lot of casinos and other gambling solutions online. But the main disadvantage of these projects always became security.

Blockchain technology draw the attention of gambling industry fast. It can provide necessary security level for this industry by transparency and decentralization.

In last year a lot of gambling blockchain-projects appeared, some of them gained big funding. These projects' success bring more popularity for blockchain usage in gambling and new platforms appear regularly.

On the June 29th at 01:00 PM GMT new gambling blockchain project starts a token sale - Dao Casino. ICO will last for 28 days or until maximal goal reached. Project is designed to create new ecosystem for blockchain gambling industry.

dao casino token saleHow it works DAO.Casino

The main feature of Dao Casino is that this solution will allow to "built-in" a blockchain technology in any gambling product. This will provide the transparency and fairness to the games. Also, developers will create new roles - "bankroll sponsor" and "random provider".

Creators assure that this protocol will help all industry members, such as game developers, casino operators, referrals and players cooperate without the need of 100% trust. Game developers will become independent from the casino operators.

Developers plan to gain 25 000 000 $ in ETH, without minimal crowdfunding target. Project development will continue regardless of the amount of funds collected.

On the first day of the campaign, participants will be able to purchase 2000 BET tokens for 1 ETH. In 13 days, participants will be able to buy only 1800 tokens for 1 ETH. Further, the amount of BET tokens purchased will decrease by 100 every three days until the end of the campaign, which is scheduled for July 26, 2017.

On 20th of June, the prototype of this platform was presented. In had 3 games - a beta version of blackjack, dice and "Hack DAO".

Bank of China Filed a Patent to Scale Blockchain Systems

Bank of China has filed a patent application for a process able to scale blockchain systems  
23 February 2018   95

According to a document released by China's State Intellectual Property Office (SIPO) on February 23, the application was invented by Zhao Shuxiang and first submitted on September 28 last year.

The application states that instead of letting a new block store transactions from its previous one, a data compressing system could be used to pack transactions from multiple blocks into what the patent calls a "data block."

For example, when the system receives a request to compress transactions from block 1 to 1,000, it causes a new data block to be formed and temporarily hosted on a different storage system. Then, the system will run the packed data through a hash function with a hash value. After that, the compression system will attach labels in order to identify blocks on the blockchain.

With the use of the described method, the patent claims a reduction in the amount of the data stored in new blocks as transactions mount in a blockchain while ensuring that data from all previous transactions will still be tamper-proof and traceable.

At the moment, the patent in the review process.