Truegame Review: When Blockchain Meets Online Gambling
Meet TrueGame – the new decentralized platform that intends to implement blockchain technologies in online gambling.
About TrueGame’s concept
The main goal of the project is to provide the fair and transparent system of gambling for online users who are tired of scammers, illegal and unfair centralized web-casinos. TrueGame develops the ecosystem where users can earn and let others earn on popular online games via smart contracts and blockchain.
Also, the project issued its own token TGAME that serves as the major utility cryptocurrency for all users of this ecosystem. The team is located in Costa Rica, most developers are familiar with blockchain technologies and have an experienced advisory board.
You can already play dozens of games and earn on them via TrueGame platform on the official website. Also, users will receive the opportunity to create their own lotteries within the network of TrueGame.
The authors decided to provide smart solutions in order to fix a few significant shortcomings of the centralized “gambling” sites:
1. Transparency of gambling operators
Developers find this as a key problem for offline and online gambling projects. For a player, the processes occurring in the casino are not obvious. As a result, a player does not trust a website completely. A gambler cannot check the integrity of a gambling site and never trust them completely.
2. The payment ability of a casino
The second important gambling problem is the solvency of a casino. You can never be sure that the administration has the means to paying players, including transfers of the promised amount of jackpot. Thanks to smart contracts and blockchain, the player's distrust in the casino’s solvency is eliminated.
Gaming algorithms of TrueGame platform and the random number generator software are based on open-source codes. These are available on GitHub portal. And the distribution of winnings takes place in a protected and independent environment of blockchain, where nothing and no one can influence these processes. Players can check the development and outcome of the game in a special open ledger.
The platform provides full transparency of the gaming business: people's funds are stored in a smart contract that automatically pays out winnings, without the participation of casino administration or game organizer. The availability and size of jackpots can be easily checked by anyone.
ICO and token
During April the team plans to launch presale and crowdsale stages of token sales. The main token is TGAME. Investors can buy TGAME tokens with ETH, LTC and BTC. The minimum personal investment is 0,1 ETH. Soft cap - 2 million USD. Hard cap is 9 million USD. Unfortunately, US residents can’t invest in ICO directly. During sale phases, investors will be able to buy 210 million TGAME (the total volume is 300 million). The price: 1 ETH = 9,25 TGAME.
TGAME tokens are distributed in such way: 210 million (70%) – for crowdsale; the remaining amount will be divided among the team members (15%), advisors (4%) and participants of their bounty program (1%). Also, 10% of TGAME tokens will be distributed to the reserve team. Al unused tokens will be burnt. The team also plans to buy the part of tokens from holders to maintain liquidity.
The raised funds will be spent in such way: 45% - to attract the new audience; 12% - for the development of TrueGame platform; 10% - for the legal support; 33% - for the reserve fund of payments and Jackpots.
More details about presale and ICO read on the subdomain of the main website.