Topic: [ANN][BWT] | BITWIN | Pushing the boundaries of blockchain iGaming Innovation - page 9. (Read 27589 times)

Base price of the token is the lowest price, at which Bitwin Team will be able to sell some of the tokens.
It was established above the price that people buy into our offering, because we do not want any team
members pushing the price down after hitting exchanges and discouraging our investors.

I found an information on one of the ICO listing services, https://foundico.com/ico/bitwin-2-0.html to be exact, about
token sale phases. Could you explain why is there a 10% discount in the 3rd stage of token sale, which seems to be the final stage?
What is the point of the token base price then?

That's a really good question. We can talk about decentralization with regard to slot games voting mechanisms or distribution of
game developers, however I do not think these are the most important.

Two key features that differentiate Bitwin Casino are :

1. Random number generation happens on Ethereum blockchain and fairness can be verified by any interested party.
2. Bitwin never holds players' money - there is no deposit, you simply interact with a smart contract and depending on wager result, money is being
    transferred back to your account with winnings, or your wager is sent to Bitwin's account.

Well there are two aspects to that question.

First of all, before deploying smart contracts and other infrastructure corresponding to payment process in productive environment,
all smart contracts will be tested internally and externally to minimize any possibility of a hack occurring in the first place.
However not a single system is bulletproof, so to further reduce the risk we do not hold players money inside a smart contract for
an extensive period of time. Let's look at an example :

Player starts a slot game #1 corresponding to a smart contract #1.
A payment channel #1 is created between his account and Bitwin that records the balance of transactions
until the channel is closed ( a player closes the session with a slot game #1 ) and funds are paid back with winnings to a player.
Depending on a type of attack, in theory the only amount that can be hacked is the amount held in a channel #1 or SC #1, which would be
immediately visible for Bitwin.

This approach is much better, since the alternative is to either hold players tokens in a single wallet and balance funds internally ( which is not decentralization of iGaming solution ),
or assigning unique addresses to every player, however in this case we have the same issue of ensuring SC security and additionally we force players to transfer funds to an account for which
they do not have a private key.

Of course extensive tests are required to ensure highest level of security, however we are confident that this will be Bitwin's strong suit.

Interesting that Bitwin never holds players money. Then what if the smart contract is being hacked and stole all the funds which collected in the smart contract?

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We would love to see BWT token trading on our platform!

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Happy trading!

There are no plans to adjust prizes, all developers will be treated equally, whether they have just one game that players love, or they have ten of them.
Rewards for developers in tokens are influenced by volume of their games, so in the theory one popular game can be more profitable for a developer, than 10 average ones.

I suppose you will be adjusting the prize accordingly if there is only just a couple of games submitted (in a given round), let's say 3, or even just 2?

What gambling or online gambling projects was the team involved in before Bitwin?

Well, a short answer would be - yes. However, we are also discussing a possibility to delivery a "Top Content Creators" list, that would
additionally promote best performing developers and their content, but at this stage it is just a discussion.

 I really like the games queue and voting system! Will the game profit share be the only reward for developer’s winning ‘product’?

Hello,

The team was involved / worked with projects such as : Betsson, Betsafe, Betway, Expekt, Betngo, Europe-bet.com.

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That's a really good question. We can talk about decentralization with regard to slot games voting mechanisms or distribution of
game developers, however I do not think these are the most important.

Two key features that differentiate Bitwin Casino are :

1. Random number generation happens on Ethereum blockchain and fairness can be verified by any interested party.
2. Bitwin never holds players' money - there is no deposit, you simply interact with a smart contract and depending on wager result, money is being
    transferred back to your account with winnings, or your wager is sent to Bitwin's account.

You mention decentralisation in the project - in what way will the platform be decentralised?

What gambling or online gambling projects was the team involved in before Bitwin?

Hello,

Since I do not know if your question refers to current Bitwin 1.0 platform, or the project described in our whitepaper Bitwin 2.0 I will answer both :

Bitwin 1.0

     Every single game you can find on our demo platform ( www.bitwin-demo.com ) is a working product, you can check it out by playing with play money.
All the contracts with major game providers like NetEnt are signed. The same is true for PSP and casino operating software.
Our Sportsbook platform is already entirely integrated into a platform managing Bitwin Casino & Sportsbook.
We were reviewed and received a Curacao Gaming license, so Bitiwin right now is a fully legal online casino.


Bitwin 2.0
 
     This is the project we are announcing here. It is a very ambitious undertaking to create a white-label solution for online casino operators
that is going to be :
  
- cheaper for players ( Bitwin Network based on Raiden )
- more secure ( Bitwin will never hold or control any of your funds )
- transparent ( RNG is done on blockchain, while it is not the most efficient solution, transparency is our main concern )

All of the components building Bitwin 2.0 solution are designed at least to a point of developers documentation.
I do not think here is the place to describe the progress of each and one of them, however I can tell you that Sportsbook solution
is a sourced solution based entirely on blockchain, we will announce our partner soon.
Bitwin Network and RNG are undergoing test, while 1 game is ready by itself but is undergoing tests to integrate with BW Network and RNG output.

In case of any questions, don't hesitate to ask on any one of our social media channels.

Do you have ready-to-run game projects, your own or created in partnership? Are there signed contracts and memorandums of intent with game developers? The project looks interesting, but you are not pioneers in this industry.

Very nice project, awesome graphic layout!

The website and ANN thread will be updated with the token sale pricing and schedule within 10 days. We will announce it on our community channels and other media.

When will you announce the token sale schedule and pricing?

Yes. We plan to deploy both versions of the platform in other languages including Korean, Russian, Japanese, Chinese, German, Spanish and Portuguese. Actually, we are currently looking for a Russian translator for both websites and documents. Various translations will also be a part of the upcoming bounty campaign.