Improve your betting experience with PROOF OF TOSS
Improve your betting experience with PROOF OF TOSS
User experience (UX) is the dominating field of today’s digital world. Companies of different sectors are trying to outcompete their rivals by adding functionality to their products, upgrading website design and analyzing user behavior. The genuine definition of UX coined by Don Norman in the early 1990’s seems to be fading away. According to Norman, UX is not limited to the visual elements the end users are dealing with but is their full interaction with the companies’ services during the full journey to fulfill their needs. The underlying technology, as well as smart design, play a key role in delivering speed, stability, and reliability to the end users in all industries all over the globe. Here comes the inevitable question: how can blockchain, a technology of the 21st century, upgrade user experience?
Blockchain has been disrupting several sectors such as finance, data storage, cybersecurity and real estate. One of the industries blockchain is reshaping today is gambling and betting.
The latest trends in gaming show that users are adopting and embracing the simplicity of betting online. Nevertheless, more than half of them admit that the online gambling and betting experience could be improved.
Blockchain has the power to not only eliminate the middlemen such as payment solution providers but to improve the betting experience at its core.
Tech hurdles in betting
The gaming industry has reached an annual turnover of around $400 billion and is still on the rise. Thus, market operators need robust technologies at the core of their businesses to support the massive amounts of information driven, processed and stored in their systems. Moreover, due to market growth, these tech solutions must be flexible, fast and scalable. Maintaining the system of this size over time has proven to be a serious challenge market operators face.
Online bettors have already experienced tech benefits that ease various activities, e.g. placing bets and withdrawing funds. Processing time, security and reliability are factors that play a significant role in client retention and loyalty.
Tech convolution in betting
While traditional betting operators are extending their processing power by buying additional hardware, blockchain is offering a more efficient approach how all transaction can be processed in less time, with less effort, at lower costs and most importantly, advancing user experience and security.
Key benefits blockchain can bring to betting:
- Decrease processing time
- Increase the speed of transactions
- Protect from fraudulent activities
- Provide a secure environment for payment and withdrawals
- Instant payments
Improving the betting experience with TOSS token
TOSS tokens are the fuel of the PROOF OF TOSS ecosystem. They will facilitate all the transactions within the said ecosystem. Being part of blockchain, the TOSS token is secure and reliable. Moreover, TOSS tokens will give more opportunities for a single user, than traditional market operators are ready to offer. Placed in the user’s TOSS wallet the token will enable users to complete various roles such as create Wagers, place bets and act as judges in DCJ (distributed crowd judging mechanism) and withdraw rewards.
Users have full control over their TOSS wallet, and are able to hold all their winnings in TOSS tokens.
The minimum token minting, in case hard cap is reached, will be 1 021 428 571 TOSS tokens.
All transactions in TOSS tokens will be run by Smart Contract, leaving no room for fraudulent activities, human error and eliminating all third parties from the deposit and withdrawal process.
Protecting from fraud
The PROOF OF TOSS protocol will include two solutions. A solution for bookmakers provides the infrastructure to integrate blockchain into their current betting business models. The peer-to-peer solution is a fully functional decentralized platform, where users are creating Wagers, place bets and can act as judges in the distributed crowd judging mechanism. In both solutions, there is a system of deposits, that protects users from fraud.
In the solution for bookmakers: in order to create a Wager a bookmaker needs place collateral to support all possible payouts. This collateral is fixed by the Smart Contract, which guarantees the user that all their bets are backed by a sufficient amount of TOSS tokens.
In the peer-to-peer solution there are two types of deposits: to create Wagers and to judge. The deposit to create Wagers exists to sustain the supply of interesting and relevant events for players to bet, while the judging deposit increases responsibility amongst randomly chosen judges. These deposits also determine the rewards that creators and judges receive for doing their jobs well.
Being created on the blockchain all transactions in TOSS tokens ecosystem are immutable and transparent.
TOSS token holder benefits
All TOSS token holders will get the following benefits:
- Access to the smart betting ecosystem from all over the world
- High speed of transactions
- Instant payouts
- Secure betting environment
- Several roles with only one ecosystem
- Full control over the TOSS tokens with the own TOSS Wallet.
TOSS token. How to purchase
Currently the PROOF OF TOSS ecosystem is under development. According to the PROOF OF TOSS team the MVP (minimum viable product) with the functionality to place bets will be ready before the start of the public token sale which is planned for the 12th of April.
Right now, the project is going through its private sale. The minimum purchase amount during private sale is 142 ETH with the bonuses starting from 40%. To get more information about participating in the private presale talk to the team in Telegram https://t.me/proofoftoss.
PROOF OF TOSS is offering their “whitelisters” an additional 1000 TOSS tokens on any purchase. Whitelist is limited. Join today! Don’t miss out!
For more information about PROOF OF TOSS and the smart betting protocol check out the Short paper of the project.