Drinking list
Joy Token – Infrastructure protocol for gaming industry

Joy Gaming’s technology offers a novel solution to connect small developers, software houses, large casinos and players. It creates a gaming ecosystem that both empowers players and helps developers and casinos reduce riskThe lack of trust and transparency is a concern with the online gambling industry. Players tend to use reputable casinos instead of smaller sites, even if they offer more “interesting games”, because players naturally gravitate to casino brands that they trust. Joy Gaming’s technology is a transparent blockchain-based system, which will help improve trust in the gaming industry. Joy Gaming’s technology enables users to play in a transparent and code- governed environment. This allows players and developers to have confidence in the fairness of the games. Through an innovative RNG generator, players will have peace of mind that the games they play are fair and safe. Developers, casinos and businesses bene t from an ecosystem that provides liquidity sharing and fair compensation. By connecting developers and casinos, they aim for an optimal solution where all participants in Joy Gaming benefit.

The existing Gaming ecosystem is largely reputation driven – a reputation built up by increased advertising. To acquire and retain players, casinos are forced to spend large amounts in order to build trust and reputation through brand awareness. In addition, large casinos control game development. Players are forced to trust these casinos because a lack of transparency means that players can’t track their wagers and thus can’t assess the legitimacy of each bet.

Smaller developers also suffer because they are paid a small percentage of the games revenue and face difficulties when publishing a new game, such as: lack of immediate income and access to the large gaming platforms.

The Joy  Gaming solution

Joy Gaming’s solution is blockchain-based and it allows developers to create games that are run on its backend through a smart contract, rather than directly on the blockchain. As all the results are recorded within the blockchain, there is significantly lower fraud. Thus players can verify that developers are running games exactly as described on the blockchain. Further, game developers and software houses can connect and integrate with liquidity providers, such as casinos, to provide access directly to their games. Both the casinos and the developers bene t from the additional revenue and increased game innovation. The lack of reputation of any specific site can be offset by the fact that rules and underlying infrastructure of the games are recorded on the blockchain (in addition to the approval system before games are allowed to go live on the Joy Gaming network).

The token management

In a traditional online casino, Clients send money to the casino in order to play its games. This creates the opportunity for potential fraud. Joy Gaming solves this problem by using Blockchain technology. All player funds will be stored in each player’s JoyToken wallet. When a player places a bet, the money will be sent to a Smart Contract which will manage the outcome of the bet in a decentralised manner. Using Blockchain means that the casino (i.e. the Joy Gaming Platform) has no control over the player’s money at any time.

The summarise:

  • The player owns his/her money at all times.
  • The player is the only person who has management rights over their funds.
  • Wagers will be managed in a decentralised manner using Smart Contracts.

Game application

Game application codes will be hosted on their servers or hosted through the IPFS/Sia/Storj network. Game outcome will then be communicated to the Smart Contract. Thereafter, the game servers will provide the state of the game to Blockchain using JSON RPC via IPC. The user experience won’t be impacted by the usage/availability of the Blockchain because all game outcomes will be available immediately. This feature ensures that user experience is close to traditional gameplay, while ensuring that the process is also fully transparent and decentralised. Every game code will be accessible on the Blockchain along with full auditability on the random number generated.

Token sale

JoyTokens will be available for purchase on the Ethereum network as an ERC20 token. There is a current challenge with the ERC20 token: if you send your token to a Smart Contract, you have to use the “approve + transfer form” function to make the transfer. But, if you send your token to an externally owned address, you have to use the “transfer” function. Unfortunately, if you make a mistake using those functions, then the money is lost.

Token Distribution

Presale 20% 140,000,000
Sold during ICO* 30% 210,000,000
Rewards pool (VIP etc) 10% 70,000,000
Sold on the platform 23% 161,000,000
Founding team, vested for 24 months 12% 84,000,000
Ambassadors, Fund Raising Fees 3% 21,000,000
ICO bounties 2% 14,000,000
Total 100% 700,000,000

 

For more information, visit the WEBSITE or read the WHITEPAPER.

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