CoinPoker – A blockchain-based cryptocurrency poker platform

Source: Ambcrypto, originally published on .

https://ambcrypto.com/coinpoker-blockchain-based-cryptocurrency-poker-platform/.

CoinPoker, built on blockchain technology, is an online poker platform that will transform the way online poker operates. Blockchain technology enables the growth of online poker by avoiding payment processing issues, managing the game’s integrity, maintaining transparency, and creating purely random number generation.

CoinPoker’s main goal is to ensure that gameplay is fair and transparent and does not include expensive costs associated with blockchain transactions and storage of data. Ethereum smart contracts help in fulfilling these criteria, in addition to eliminating the need for a middleman in a transaction between two anonymous parties.

The Ethereum-based token contracts comply with the ERC20 standard, ensuring safety and anonymity.

CoinPoker is fully developed and functional. With highly skilled developers working on the Android and iOS applications, they are expected to launch in the Q2 of 2018.

Random number generator [RNG] transparency on blockchains

Random number generator [RNG] is the most important part of poker software. However, several software-based RNG is actually pseudorandom number generators [PRNGs], which only appear to be random.

CoinPoker uses blockchain technology to ‘improve randomness’, even though it relies on certain traditional RNG techniques to maintain speed. It uses a decentralized RNG, which not only fulfills the criteria of transparency and zero transaction fees but also the manageable speed.

The RNG currently runs on the blockchain partially. They plan to transform into a complete blockchain before the end of the year.

Coinpoker's Revenue Distribution Model

CoinPoker’s Revenue Distribution Model

For full transparency of revenue distribution, smart contracts will be used, where everyone can view the movement of funds in their wallets through distribution channels. Unethical or robot play will be identified and eliminated the CoinPoker Fairplay security and fraud system by analyzing the actions of each account to tell the difference between human and bot-like behavior.

Additionally, Captcha, which requires a human to solve a problem that a robot cannot, can identify such activities. The players can also report any suspicious actions in the game.

CoinPoker’s Official Currency – Chips [CHP]

The brand new cryptocurrency Chips [CHP] is the official cryptocurrency of CoinPoker, which will be based on Ethereum. It is transferable and can be used for buy-in for all the games available on CoinPoker. It will enable the user to play poker ‘safely and comfortably’.

It will be available across the globe and can be bought online from any geographical region. However, CHP can be used only on the CoinPoker platform from places where online poker is legally permissible and by a person who has rightful possession of the CHP in a Permitted Jurisdiction.

CoinPoker ICO was different from other ICOs as they already had a working product which now continues to develop further.

CoinPoker's roadmap

CoinPoker’s roadmap

It recently launched the first Crypto Series of Poker [CSOP], which will comprise of daily tournaments held between May 27th and June 3rd, with the total prize pool of 10 million CHP. The schedule is as follows:

Crypto Series of Poker schedule

Crypto Series of Poker schedule

According to the development plan, in the Q2 of 2018, CoinPoker will have a fully decentralized random number generation. They also plan to have advanced AI fraud detection techniques and store the poker server data on blockchains through smart contracts.

In the Q3 of 2018, for RNG transparency validation, poker data review page and tools will be released publicly. The player referral and partner program and bonus and insurance systems will be launched.

The loyalty program, which will help recreational players earn points through various games and limits, will be launched in the Q4 of 2018. These points can be converted into CHP and used to buy into games at CoinPoker.

ETH Madness tournament series was held from April 23rd – April 27th. This two-week ETH tournament had 200 ETH tokens up for grabs, instead of 100. Between May 27 and June 3, Crypto Series of Poker (CSOP) events will be held to give back to the people who supported CoinPoker in the ICO period.

As promised during the ICO period, CoinPoker will hold several large-scale promotions in the coming months.

For more information about CoinPoker, Click Here!

The post CoinPoker – A blockchain-based cryptocurrency poker platform appeared first on AMBCrypto.

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