crypto.bi

Introducing Coinrace – A new decentralized betting game for the blockchain

Update

There has been no activity in the project’s Telegram group since inception.

The project’s domain name has been placed for sale.

For these reasons, we’ve moved this project to the Dead Coins section.

Original Post

A new decentralized betting game with the guts and code to take over the cryptokitties wave is out. Coinrace is a race track built on the ethereum blockchain.

The game features cars that are branded with cryptocurrencies. Written in Solidity with smart contracts responsible for economic rewards, coinrace is changing the rules of betting protocols through the blockchain technology.

The volatility of the cryptocurrency ecosystem and the attendant difficulties of cashing in on the sector has forced many would-be investors to fold or already existing ones to leave.

To make sure that players and investors are assured of good returns, coinrace has instituted a special decentralized betting game that is loved, not just by enthusiasts of the blockchain technology, but also by critics.

The game is not cumbersome, rules are clear, the user-experience design is at the core of the game’s interface, and it has a simple mechanic at its core that will make it the next generation of betting protocols.

The inspiration and the journey

In the cryptocurrency space and in the realm of the blockchain technology, many games have been introduced, starting with the cryptokitties wave. Since then, many other decentralized betting games have been introduced. But the market is still suffering from issues.

Many of these games simply copied the cryptokitties code – dwindling innovation in the sector. Some of the other decentralized games are left as whitepapers or remain in beta versions for so long that investors and gamers lose interest.

This has changed, thanks to coinrace. It is a working decentralized application played and enjoyed by cryptocurrency enthusiasts. It is not just a whitepaper but a working Dapp.

From Tote betting

A tote is a form of betting that has been around for so many years, dating back as far as the Ancient Rome when gladiatorial fights used this kind of betting to entertain and win rewards in addition.

As the world developed, this type of betting entered football, baseball, and horse races, as well as other sporting fields. But Coinrace decided to apply this roman betting game through the new, disruptive technology, the blockchain, making use of cryptocurrencies to develop a decentralized betting game.

How coinrace is organized and played

To play coinrace, visit http://coinrace.co, where you can play the game on Ropsten and later on Mainnet and make a solution of your preferred race. The MetaMask plugin is needed since you are going to need it for undertaking transactions on the ethereum network in your browser.

In order to play, players

  • make the choice as to which race and coin they prefer to bet on.
  • Proceed to buy Race tokens and bet on the cryptocurrency/car they are confident will bring the best possible returns.

These are the current race options available for players:

  1. Old School. This features traditional cryptocurrencies that we all know, including Bitcoin, Ethereum, Litecoin, and Dash.
  2. Smart Coins: Which features cryptocurrencies that are doing more than just acting as money or speculative assets, but comes with their own blockchains that allow other things to be built on. This category includes Ethereum, Neo, Cardano, and EOS.
  3. Bitcoin Forks: this category features Bitcoin Fork coins including Bitcoin itself, Bitcoin Cash, and Bitcoin Gold.
  4. Anonymous Race: This features cryptocurrencies that are providing security and protecting identity beyond the traditional cryptocurrencies. This category includes Dash, Monero, Slash, and Bytecoin.

Coinrace’s future plans

As a decentralized betting game, coinrace has a lot of ambitions. In the future, there will be a lot of upgrades to make the platform a betting protocol of choice.

Raiden Network Integration

Coinrace envisages an integration with not just the Raiden Network, but also Plasma. This move will be to ensure that the game is scaled for seamless playing, the operation of a payment gateway that would allow for peer-to-peer in-game asset transfers, and a possibility of near-free transactions.

An internal decentralized exchange development

Coinrace will develop a decentralized exchange (DEX) that will make sure that any ERC20 token is capable of operating and being accepted into the game. Apart from being able to eliminate using centralized crypto exchanges, this future addition will also make coinrace a more decentralized environment.

Conclusion

Coinrace is not just building a game for cryptocurrency and decentralized betting game lovers, but also building a platform where other decentralized totes would be developed and deployed, giving community members the opportunity to create their own games and profit out of their creations.

Links

Website

Telegram

#CryptoPB

Crypto.BI CryptoPB Presents