Online Poker Platform on the Ethereum Blockchain
September 21, 2017 – December 21, 2017
Interview with Acebusters
BitcoinChaser: What kind of problem, market deficiency or opportunity inspired you to launch your project?
Acebusters: Online poker should be thrilling, profitable and secure. Legacy poker platforms were not able to guarantee these factors and thus led to a downslide of the online poker economy.
We identified some main problems of the traditional online poker platforms:
Player Deposit Risk
In 2011, PokerStars and Full Tilt Poker, the biggest poker rooms at the time, were shut down due to bank fraud and money laundering causing many players to lose their funds.
Fraud by Poker Platforms
Many players suspect that platforms maximize rake by unfair shuffling. In addition, traditional business offerings can profit from the exploitation of personal data or arbitrarily block accounts of users that are too profitable.SnG is a very popular format and it will be one of the first features.
No “Mobile-first” Approach
A lack of user friendly interface for recreational players or players on the go.
Often players are limited to a single jurisdiction, which denies them access to rich liquidity of games and opponents.
All traditional platforms manage funds on behalf of the player as well as shuffle and keep the cards secret, posing as a trusted third party. By relying on this trust model these platforms incur high operational and regulatory compliance cost.
BC: How will your project address this problem, market deficiency or opportunity in a unique way?
Acebusters: With the Acebusters Dapp we offer the pleasure and excitement of playing poker (and of course the chance to earn money) to anybody, anytime and anywhere without the need for players to trust any third party with the custody of their funds.
Poker is only fun if it is also profitable for the players. We operate with a simple low-rake structure that is more profitable to recreational and professional players than rake structures of traditional platforms. Furthermore, we base our app on the Ethereum blockchain. The global reach of Ethereum will allow us to aggregate more players in one liquidity pool than any existing platform. We strive to bring back the golden era of online poker with low-rake and high-profit games.
The engineers that developed Acebusters are long-term veterans in the blockchain space. The Dapp was developed following industry best practices to guarantee the safety of the players’ funds at all times. We have taken the following measures:
- Bankroll always stays under the sole control of the player in his own wallet.
- Wallet software to secure account and bankroll is player’s choice.
- Peer review of smart contracts by reputable service provider.
We plan on implementing secure multi-party computation (MPC) as a protocol for game execution. This cryptographic protocol will allow players to shuffle the deck collectively while keeping the cards secret until they are revealed in the game. Superuser access and manipulation of the random number generator for shuffling can be provably prevented, regaining players’ trust using this technology.
Our Dapp can be accessed from the web or any mobile device, removing the need to install the custom software that traditional operators require. This eliminates practically any timing or geographical limits for playing.
No personal data or verification of players’ identity is required to use the Acebusters Dapp. Rather, by creating a personal wallet and acquiring NTZ, the primary token of the Dapp, anyone can become a player. The time it takes from learning about the existence of Acebusters to placing the first bet can be as low as 2 minutes. By reducing the mental cost of registration, more occasional players from any geography will be able to participate. While we have greatly reduced the hurdles to initial access, we have undergone great efforts to disincentivize access by minors and persons with a tendency for addictive behaviour.
BC: How do you think that competition will develop following your ICO?
Acebusters: We see several new startups on this market with similar ideas, so it will definitely be a crowded market in the future. But competition is always good for the overall development. Onlinepoker had a rough time in the last decade and we are happy to announce, that these days are over.
Today, we’re the only one with this kind of running system and with the use of multi-party state channels, a technology we developed to minimize the cost of interaction with the Ethereum blockchain, we have pioneered real-time cash games on the Ethereum blockchain. With this technology and the team behind Acebusters, we are in a very good position to stay on top of the competition.
BC: For all those who have read your white paper and are still on the fence about contributing to your ICO, what can you tell them that could lead them to buy into your project?
- We have a very strong team with experienced blockchain and smart contract engineers, as well as obsessive poker players.
- The global and increasing reach of Ethereum will help us to global scalability
- In contrast to most other ICOs which raise money with a whitepaper only, we have a running product. Sign in, test it yourself and follow the transactions on etherscan!
- Poker is a game which can and should be played by everyone around the world. We want to give the power back to the people who love this game. Everything we do is transparent, as well as every transaction with in the DApp. If you want to be part of the revolution of onlinepoker, get some NUTZ and join our crowdsale!
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