DAO.Casino is a decentralized protocol for the gambling industry. It is an open protocol that for everyone. The DAO.Casino is automated value distribution protocol on Ethereum smart contracts that are designed to reward security auditors, game developers and community members for any contribution made on the platform. DAO.Casino also aims to lower the entry level for every game developer, in addition to lowering operation overheads for online casinos or monetize their work. The protocol defines interactions between untrusted participants in online gambling.
The online gambling industry faces serious issues. From user balance account management to RNG to developers access to the gambling market. DAO.Casino protocol is to offer a sustainable model that will benefit all parties involved in online gambling. The system provides a P2P marketplace for game developers and supports independent front-end platforms where players can play and discover gambling games by design.
DAO.Casino has some features that make it an admirable decentralized protocol. The protocol has no single point of failure. The process of value transfer is replaced by code consistently which is executed by the Ethereum network. The Ethereum network is a system of smart contracts that can be triggered by particular actions performed by only the participants. The actions correspond to the value that participants add to the ecosystem. The consistency of the codes of the protocol is a useful feature in the gambling business.
The DAO.Casino platform achieves security of the system through cryptographic verifiability, consistency, and transparency of software used to automate processes. The process involves economic incentive and trust mechanisms for its participants. The protocol requires a fee system, but the fee is a hardcoded reward system for participants.
DAO.Casino uses the BET token in all its processes, transfer and paying for and receiving services. The BET token is an ERC20 token and it is used as an in-game currency from all the game contracts integrated with DAO.Casino. The token also powers the protocol reward system. Overtime BET account history can be used for ranking the players and the game and as a reputation system. BETs can be ordered on the platform wallets by any Ethereum client and by players or by advanced Ethereum users.
The system is led by founder and CEO Ilya Tarutov and co-founder Konstantin Lomashuk. Konstantin started his first business at age 17 and became deeply interested in the blockchain technology since then. Ilya, on the other hand, is a serial entrepreneur with experience in marketing, operations, and finance.