Coin2Play: A Digital Token For Online Gambling and Gaming Industry
Over the last few years, the online gaming and gambling industry has made a constant growth with the ever-growing rise of the smartphones users. Here is a graphical data from Statista that shows that online gambling market continued to 10% CAGR over the last decade.
The interesting thing is that the advent of digital-token economy and blockchain has added further spice to it. A number of online gambling platforms are adopting the route of tokenization to incentivize the players.
Coin2Play (C2P) is one such platform working on a cryptocurrency-based payment solution for the online gambling industry. Coin2Play (C2P) aims to integrate seamlessly with other online gambling and gaming platforms and facilitate instant and secure means of transacting funds among them.
However before we proceed to understand the working of Coin2Play, let us take a quick look into the benefits of using digital tokens in online gambling as well as the gaming industry.
Benefits of Using Digital Tokens in Online Gambling Industry
A majority of the digital tokens operate in a decentralized manner without any sort of regulatory involvement. The use of digital currencies facilitates quicker payments to the players while allowing them to game anonymously.
Moreover, the secure blockchain technology enabling transfer of funds in digital assets gives better security to players. It helps to reduce frauds done by several online gambling platforms. Use of digital tokens also improves the cost-efficiency of financial transfers. This in-turn also translates into high-cost saving and better profit margins for online gambling platforms.
Moreover, Casinos can save majorly on cash handling commissions and pass the benefits directly to the gamblers. Also, the use of blockchain brings accountability and transparency ensuring proper fund distribution is done by online gambling platforms without any hidden surprises.
Gold Poker is an example of one such digital token used in online poker games. This open-source cryptocurrency facilitates instant private transactions without any middlemen.
Benefits of Blockchain and Digital Tokens for the Gaming Industry
Use of digital tokens can prove to be a game-changer for the online gaming industry. Digital tokens can facilitate for instant and easy in-game purchases instead of relying on third-party apps to convert the fiat transactions.
Additionally, high encryption technologies like blockchain, which support the digital tokens can ensure secure transactions as well as prevent data theft. There are some popular projects like WAX and Enjin Coin that lets users trade virtual assets against cryptocurrencies.
The use of blockchain technology has also revolutionized Esports betting while bringing higher transparency and accountability to this sector.
CryptoKitties is one of the most popular decentralized gaming application built on the Ethereum network. The game also demonstrates the effective use of blockchain-based smart contracts which can trigger events automatically as different tasks are accomplished.
Coin2Play aims to leverage the distributed ledger technology (DLT) aka blockchain for its decentralized nature of the operation. This way they plan to have transparent and distributed systems, controlled and maintained by all the participants, instead of relying on central body control.
The Coin2Play platform is developed with a hybrid implementation of Proof-of-Work (PoW) and Masternode system. With a robust infrastructure in place, Coin2Play implements a payment model giving stable returns over the investments made by users, miners, and masternodes.
Coin2Play provides its own API for easy integration of its payment services online games, casino gambling, and other platforms.
Reason For Choosing Masternode
The Coin2Play team believes that Masternode is an up-and-coming digital currency full-node used in the cryptosphere. The Masternode keeps a full copy of the entire blockchain in real-time. The Masternode can be accessed by any participants and stakeholders on the blockchain.
Some of the special functions of these nodes are enabling instant transactions, increasing the privacy of transactions, allows for easy participation in the governance of blockchain, etc.
Thus using Masternode will keep the Coin2Play team ready for future developments in the blockchain and gaming industry. Staying compliant with the master node implementation will help Coin2Play attract a number of big investors to the platform. That will increase trust among its users.
Coin2Play (C2P) is a masternode/PoS digital token with a maximum supply of 50 million and a master node collateral of 10 thousand. Block rewards include 65% for masternodes and 35% for staking.
The C2P digital token is available for trading on CryptoBridge and CoinExchange trading exchanges. The digital token has been also listed on CoinMarketCap, the most popular cryptocurrency index.
Development Plans of Coin2Play
The development and marketing team at Coin2Play has shared some details regarding the future plan and roadmap of the token release.
Q3 2018: In this ongoing quarter of 2018, some important tasks scheduled include the official launch of the Coin2Play platform along with the release of GUI wallet for Windows, Linux, and MAC platform. The wallet is now available for download on all these three platforms.
Additional plans include CoinExchange.io Listing, Crypto Bridge Listing, MNCN Listing, MNO Listing, Delta App Listing.
Q4 2018: Some important tasks scheduled for the upcoming quarter include: Casino Platform – Stage 1, Casino Platform – Stage 2, Blockfolio Listing, Live Coin Watch Listing, Coin Lib Listing, Third Exchange Listing.
The enthusiastic development team of Coin2Play has already accomplished important tasks like CoinMarketCap listing and Wallet release. The team has also launched Coin2Play Android Wallet and the iOS Wallet can be expected in the coming days.
Coin2Play has also released a YouTube Video of its Android wallet highlighting a very user-friendly user interface.
By Q1 2019 the team plans to launch Stage 3 of the Casino Platform while by Q2 2019 they would release the entire Coin2Play ecosystem.