This document is to bring awareness of how Unilot stands above the rest of the competition. It’s meant to show some technical background behind the differences. Included is a comparison of one of the main competitors to Unilot to further drive the idea behind this document
Decentralized Gambling Intro
What Unilot and other blockchain gambling solution, offer to shift how online gambling is done. From centralized server controlled by some company which runs some code / logic owned by the same company, to decentralized blockchain solution with code transparency.
Why? Because having 1 company handling (code, database, game logic, money ) creates an opportunity for theft, fraud and hacking. History proves many incidents where these centralized solutions, simply ran away with money from their customers, or having some developer or even owner of the company have “God” access to see other people’s cards. These loopholes exist and are too hard to resist for most.
Going decentralized solves a lot of these issues, it removes the power from some server running some code and distributes it among many nodes, these nodes execute the same code that is visible to everyone. Furthermore introduction of smart contracts, allows for Escrow style setups, where the actual balance of the pot/game is held by this decentralized network with specific instructions to release the payment upon confirmation to the winner(s).
Type of Online Gambling Solutions
There are few types of solutions, this document is not exhaustive but will give you an idea of what’s out there and how Unilot differs
Type 1 Decentralized Blockchain Bankroll Dependant
Example of this solution is company named Edgeless. They focus on providing a solution that requires no further development. However due to the nature of their design, they wish to act like a “casino” where they take a “seat” at a table. This requires them to have a bankroll to support their losses as key to generating revenue for Casinos is the fact that house “always” wins (55% of the time actually). So in the long run, that bankroll grows as people attempt to win against the house.
The drawback besides having to require additional investment to power the bankroll, is its nature of existence heavily depends on relying on blockchain network like Ethereum. That creates the following drawbacks:
- If Ethereum network is slow, so are the games
- If Ethereum ever suffered an attack or ceases to exist, so will Edgeless as a company. As they do not own anything other than front-end (pretty interface/visuals) of the games.
- High cost of the transactions being passed on to the players
Type 2 Decentralized Blockchain Gaming Development Solution
This solution is a lot more complex, it does not offer out of the box gaming. It offers a platform where a company interested in becoming an online gambling solution can learn the code/protocol offered and create their own “online casino”.
- Must develop your own games
- Have your own investors to pay for the overhead (developers, marketing, etc)
- Must bring their own bankroll to support the game play
It is not a solution for everyone, it is a solution for companies who have enough money to even consider this solution.
Type 3 Decentralized Peer To Peer and Blockchain
This is where Unilot resides. It is a combination of older technology (Peer to Peer) and Blockchain. The main difference is Unilot does not require any bankroll, it does not depend on some blockchain solution to exist and it reduces the costs by utilizing Peer 2 Peer communication which is faster and free. The players in multiplayer games like Poker can keep each other “honest” through Unilot’s consensus algorithms, blockchain smart contract comes in handy when it’s time to pay the winners and to log the moves/outcome of the game for future audits.
Furthermore, people who wish to host their own poker tournaments, can simply use Unilot to launch their own poker game. There’s no coding involved, there’s no need for bankroll and they can modify the rules of the game while generating their own revenue. They can generate their own revenue by specifying what their “cut” of the pot is going to be. The players of the tournament will be buying into the game and that will act like the bankroll needed.
The big plus is Unilot isn’t just some front end pretty picture code, it can interchange which blockchain network to use in case one goes down, it can shift the game play audit logs away from blockchain network to something else entirely. It is future proof!
Side note: Unilot also offers non multiplayer games like Lottery where complexity is far less than Poker.
Business Case Example : Edgeless vs Unilot
Business model difference: Edgeless model requires bankroll fund, to support Casino style betting where bankroll fund is equivalent of a house. Edgeless aims to provide 0% fee per game with hopes of generating income through bankrolling it’s own games, wherein Unilot keeps a cut of every game played, removing the need to maintain and grow it’s bankroll fund while guaranteeing it’s income by keeping a predetermined fee on every game.
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