MECACoin: Decentralized and trusted online casino platform

MECACoin: Decentralized and trusted online casino platform
on November 19, 2018

There are many online casinos operating legally, but legality does not guarantee a regulation of fairness. In traditional (non-blockchain) online casinos, game systems and winning distributions lack transparency and there is no method available to verify gaming processes when a problem or conflict occurs. There is always the chance that casino winnings are manipulated through the non-random generation of game-utilized numbers by casino operators or hackers. As casino operators also have direct access to the assets of their users, the possibility exists for other fraudulent activities, outside of game manipulation, to also take place. Many players have voiced their concerns regarding these issues, and yet there is still little evidence to assure users or foster trust in regards to accurate compensation and that games are being run with fair odds.
MECA Casino has the chance to remove these fundamental doubts. Many players are currently enjoying the convenience and anonymity that cryptocurrency-based casinos provide, but these casinos are still not taking advantage of the full technological abilities of the blockchain in order to foster trust and transparency.

While this is an improvement to the gambling industry, these new cryptocurrency-based operators are still utilizing their own privatized servers that lack transparency in regards to game processes or their number generation methodology. This underutilization of available blockchain technology results in a questionable level of fairness for players.

A few Ethereum-based casinos running within the above-mentioned business framework have achieved relatively successful ICO fundraising; the most notable of these projects being Funfair and Edgeless.

MECA Casino, through the use of its utility token MECA Coin, is working to eliminate two major issues in the online gambling industry:

1. The lack of transparency due to the previously centralized nature of gambling platforms, which results in a lack of player trust

2. The often overlooked ‘fun factor’ of both online and offline casinos, where gambling-based entertainment and playtime is reduced due to overwhelmingly house-favoring odds and a general lack of visual quality in gambling games.

We intend to solve both these issues through an open and transparent blockchain that is not only accessible by all, but enables anyone to operate their own on-chain casino by becoming a ‘Master node’ within the system.

As of 2017, the online casino market is estimated at $45 billion.’ This figure continues to increase as new markets enter the arena. Significant growth is occurring in Europe and N. America where online gambling is steadily gaining legal status and thus opening the door for other countries to follow. According to the 2016-2022 report by Research and Markets,” the online casino market is estimated to grow to $81.71 billion by 2022.

We’re currently seeing a market shift from existing online casinos to blockchain-based online casinos that utilize cryptocurrencies. These new online casinos are fundamentally changing the structure of business, operating at around a tenth of the existing ‘house edge’ odds of traditional online casino platforms. The market is also rapidly expanding on the strengths of anonymity and the freedom that cryptocurrency facilitates for simplified deposits and withdrawals.

MECA Casino & MECA Coin

CRYPTO MECA!

Limited is the publisher of MECA Coin. The company will be based in the self-governing British Crown dependency, the Isle of Man, and will develop and service MECA Casino.

The development of games for MECA Casino started in 2016 Development on seven games has been completed, including more complicated table games like blackjack and baccarat five more traditional slot machine-based games, and altemative VR (virtual reality) versions of each game interface.

Sports betting services will also soon be added to the platform Future detailed development plans will be regularly published through a development milestone plan, accessible via our website Mecacoin.io.

Players demand fairness and entertainment, and in exchange for those provisions, they pay fees Fees are shared with Masters who ensure the transparency of the blockchain through their role as a node, and help the platform grow as they bring more players into the space. While Masters maintain the stability and transparency of the chain, remit players, and provide entertainment MECA Casino’s primary long-term role will remain focused on providing the highest level of game quality along with expanding the virtual city and other interactive elements in the world.

Not only are transaction speed and processing systems of early blockchain technologies Gke Bitcoin and Ethereum not currently an appropriate choice for processing transactions within a fully decentralized casino, they also do not serve as a strong candidate for an exchange medium in such games.

To resolve this, MECA Coin is designed to be easily exchangd to and from ‘MECA Chip’, a playable currency for use solely within the MECA Casino platform. All transactions within the platform will be processed through the MECA Chain.

The MECA Casino platform has the advantage of fast prooessing of Large scale transactions in proportion to the number of active users. To process internal game wchanges, the internal MECA Chain is used for instantaneous and fast transadions

MECA-Chan will also be used for random number generation, an essential element in providing transparent and fair games and distributing correct winning amounts. Random numbers required in garner are created by the game server, player and Master nodes. As three random numbers are generated, we’ve implemented triple-layer, random number integration; an impossible to fabricate result which is also verifiable.

Masters participate as nodes on the MECA Chain, and the MECA Chain is maintained and developed through consensus among Masters. Tokens that MECA Chain stores and processes are called MECA Chips The MECA Chain is responsible for transaction processing and moving MEGA Chips.

Masters will as as general nodes in the MECA ChWn, with a portion of nodes being designated as delegates who will execute the verification process during block creation.

Master nodes pay for the transaction fees of their casino’s players which are deducted from their total fee collection. This contributes to the stable operation of the internal chain.

Meca Coin Token Information

Total amount: 5 billion MCA

Token name: MECA

Symbol: MCA