ICO listing: Joy Gaming ICO

joytoken_ico
ICO JoyToken

JoyToken

Ended ICO : 20/03/18 – 19/04/18

Finally, a new online gambling crypto-currency that is trusted globally

Joy Gaming’s technology offers a novel solution to connect small developers, software houses, large casinos and players. It creates a gaming ecosystem that both empowers players and helps developers and casinos reduce risk. The lack of trust and transparency is a concern with the online gambling industry. Players tend to use reputable casinos instead of smaller sites, even if they offer more “interesting games”, because players naturally gravitate to casino brands that they trust. Joy Gaming’s technology is a transparent blockchain-based system, which will help improve trust in the gaming industry. Joy Gaming’s technology enables users to play in a transparent and code- governed environment. This allows players and developers to have confidence in the fairness of the games. Through an innovative RNG generator, players will have peace of mind that the games they play are fair and safe. Developers, casinos and businesses benefit from an ecosystem that provides liquidity sharing and fair compensation. By connecting developers and casinos, we aim for an optimal solution where all participants in Joy Gaming benefit.

Joy Gaming’s ICO solution is blockchain-based and it allows developers to create games that are run on its backend through a smart contract, rather than directly on the blockchain. As all the results are recorded within the blockchain, there is significantly lower fraud. Thus players can verify that developers are running games exactly as described on the blockchain. Further, game developers and software houses can connect and integrate with liquidity providers, such as casinos, to provide access directly to their games. Both the casinos and the developers bene t from the additional revenue and increased game innovation. The lack of reputation of any specific site can be offset by the fact that rules and underlying infrastructure of the games are recorded on the blockchain (in addition to the approval system before games are allowed to go live on the Joy Gaming network).

The Joy Gaming ICO network relies on decentralised smart contracts to guarantee and record everything on the blockchain. Through the blockchain, we will be able to audit everything that happens on Joy Gaming. Users that play the games will be able to view, in real time, the outcomes and the rewards of the network. Unlike traditional casinos where deposits are made to the casino account, users will always have control over their JoyToken wallet (and withdrawals are simpler and conducted more quickly).

Our Platform will use the Ethereum network as a Blockchain based ecosystem. The Ethereum network is well-established, accepted, and used by the community with a full Turing language capability. While there are some latency issues, a middle-ground decentralised solution is proposed below that can significantly reduce this latency.

The usage of an Autonomous Agent (i.e. a Smart Contract) builds trust in the system because any conflict of interest between the gambler and the Platform is managed and audited in a decentralised manner. No third party needs to be involved since all the transactions are done via a Smart Contract, which guarantees everyone has access at all times and can verify the game’s fairness.

Our technology stack is primarily composed of three main components: the Blockchain Layer, Game Applications (back/front end) and the Random Number Generator (RNG). The back/front end of the games will be running on databases, however all parts that could lead to any form of dispute between the player and the Platform will be decentralised and audited over the Blockchain using Smart Contracts.