OK, Let me see IF I understand this correctly.
FIRST OFF, I had to look up the definition of a "Smart Contract". Here is a short version:
Smart contracts also known as a smart property are computer protocols that facilitate, verify, or enforce the negotiation or performance of a contract, or that make a contractual clause unnecessary. Smart contracts often emulate the logic of contractual clauses. Proponents of
smart contracts claim that many kinds of contractual clauses
may thus be made partially or fully self-executing, self-enforcing, or both. Smart contracts aim to provide security superior to traditional contract law and to reduce other transaction costs associated with contracting.
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With emphasis on the smart contract, 2 players can before starting a contest each put up say $20 to the winner(let's call it an escrow), and the winner of the contest will automatically
(Fully Self-Executing, Smart Contract) be awarded the $20 that was put up in the escrow.
Now if I understand this correctly Game Credits cannot perform Smart Contracts such as the MobileGo coin. So in other words players can gamble money on their ability to win such a contest.
Is this correct ?
IF So, then wow, because that is Peer to Peer gambling
Again IF this is the case, THEN I will have to buy more Game Credits, I simply do not own enough.
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You already have GameCredits / GAME - why release another token?
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We've gotten this question many times.
GameCredits doesn't run smart contracts. That means decentralized player run tournaments (players awarding other players for winning), virtual item exchange, and peer to peer match play (where one player says if you win I'll pay you 20$) aren't possible with GameCredits.
Rather than miss out on these billion dollar markets, we decided to create a coin that would enhance the functionality of the GameCredits Store. By creating MobileGo we are effectively increasing the market possibility of the Mobile Store, ultimately drawing in more players who will only be able to use GameCredits to buy games and in-game items. At the same time MobileGo will allow us to create a massive marketing fund for the GameCredits Store. Half of all funds raised during MobileGo will go to acquiring millions of gamers to the GAME Store. This whole process will begin this spring directly after the launch of the mobile store. Creating MobileGo will both increase the popularity of GameCredits and create one stop (the GameCredits Store) for every new and exciting feature of the mobile gaming industry.
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