Scalability is one of the major issues that are faced by the world of blockchain as of now. As the technology is still in its nascent phase, different projects are trying to figure out ways to improve the transaction throughput on a blockchain network.
FunFair is one of the blockchain-based project floating around and aims to revolutionize the way online casino gaming works across the world. Recently, BlockPublisher got in touch with Jez San Obe, who is the founder of the project, to inquire him about the project in detail.
Talking about how FunFair solves the issue of scalability, Jez stated:
FunFair is the first project to build ‘Generalised State Channels’ and prove that they work reliably on main net. We call the technology Fate Channels because they not only scale realtime micropayments – in both directions – from casino and from player, but most importantly, the games run from smart contracts off chain which makes them cheat proof and extremely fast – with ‘dispute resolution’ to go back to the chain when any errors or cheats are attempted – but they also generate realtime random numbers which are essential for the fair playing of casino games.
Jez pointed out the implementation of the “Fate Channel Technology” at the core of the platform which makes it stand out in the arena. Further adding on to his statements, Jez stated:
Fate Channels are a huge benefit for scaling of slower blockchains – they’re close to an optimum scaling solution for casino gaming as the amount of realtime transactions between the player and the casino are often in the hundreds and thousands for each game session. To try and do these sheer number of transactions on chain would be ineffective, expensive (on gas) and too slow, which would not be an enjoyable experience for the player. The scaling makes the games low cost to play, and allows them to work instantaneously without delays normally associated with blockchains. FunFair has been live on main net with a commercial offering since Sept 2018, has been testing on main net for much of 2018, and was running on the test nets with the first state channels in June 2017.
Fate Channels allow FunFair to scale itself to a level at which it becomes feasible for real-time transactions that take place in the ecosystem of casino gaming. FunFair allows players to enter the arena of casino gaming without any third party involvement, saving the fee. Online casinos can be made by the players in a matter of seconds.
The casino industry is just one of the many industries that are being revamped completely by the employment of the revolutionary blockchain technology. It will be interesting to see how many more industries it affects.
More details regarding the project FunFair can be found here.