FunFair is a crypto project that aims to revolutionize the arena of online gaming through the employment of the blockchain technology. The prospects that are offered by blockchain technology are game-changing and FunFair has targeted a relatively interesting niche of the market to employ it, online casino gaming.
In order to get to know more about the project, BlockPublisher got in touch with the Founder of FunFair Technologies, Jez San Obe. The following Q&A gives one a clear-cut insight into the project.
What is FunFair’s long-term vision?
Jez: The long term vision is to enable trustless gaming so that players can feel confident to play online casino games without fear of being cheated or loss of funds. For the first time, we have been able to separate the player and casino and escrow their funds so that neither has to trust the other and yet both can play any form of casino game in real-time. The wins go directly back to the player. The games are secure and provably fair, especially the execution of the smart contracts that power the games, as well as the random numbers chosen to represent the games of chance.
To create a way for players to play casino games in a safe and secure environment with increased fairness and instant wins, without the casino taking custody at any time of the player’s funds. We think this technology has the potential to disrupt the casino gaming industry.
What consensus algorithm is used at its core and why?
Jez: FunFair is built on the Ethereum public blockchain. The tech is designed to run on public blockchains to ensure fairness. Ethereum currently uses Proof of Work at this time, but it will transition to Proof of Stake in the foreseeable future in a release known as Serenity.
We are able to protect the player from cheating, and .. for the first time, not require a deposit into casino custody before you can play. We achieve this by building the casino games rules into smart contracts which are executed in real-time as the games are played, and we use advanced State Channel tech to guarantee cheatproof games which has the advantage that it doesn’t require the customer to have made a deposit into casino’s custody.
For the first time, games can be played with funds directly from your own wallet, with winnings paid instantly back to your wallet. Before smart contracts existed this wasn’t possible (you had to trust the casino and deposit your money in their custody) and before State Channels existed, this was too slow to be fun. Also, when picking random numbers, previous casinos had risk of cheating by the miner or block validator…whereas with state channels we avoid that risk by keeping the random numbers entirely off chain.
What products are present in the FunFair ecosystem right now?
Jez: We have built a protocol and platform for offering casino games that for the first time are provably fair and zero casino custody. Yet FunFair isn’t the casino. FunFair is the tech provider to the casino industry and will have multiple casino operators and white labels using the technology within a year. The first one is already live – www.casinofair.com – and the second one is soon to launch.
There are already eleven games live on the platform, and another set of games are on their way.. being finalised as we speak. All the favourites are there..from blackjack, video poker and roulette, through to several slot machines, dice games and now a wheel of fortune style game. Almost every category of popular casino game is represented and more games are coming each month.
What is the target audience of the platform?
Jez: FunFair is a protocol and platform for casino gaming. Its designed to be operated by casino operators – initially that will be experienced casino operators but eventually it could be anyone who wants to run a casino. Most casinos will become white labels, which allows them to configure the casino with their own branding, logos and look and feel to have their own unique casino.
At the time of writing, FunFair’s token is ranked at number 106 on CoinMarketCap. It will be interesting to see how this project evolves as more and more developments are made in the crypto and blockchain arena.