Why we need Fair Channel

January, 30th

Everybody knows just how popular ether is now. Tens of thousands of cryptocurrency farms worldwide mine Ethereum making millions of computing operations a second all of which are registered and stored in the Ethereum system. The more cryptocurrency exists in the world the more computing capacity we need to mine it and the more time it takes to fulfill transactions and conclude smart contracts. And now imagine that every bet is recorded in the blockchain system. You have to wait a few seconds and even minutes for every transaction and every bet, so the game eventually loses the lion’s share of its charm for you.

That is what FairChannel is for. In the FairWin system you make only two transactions in the Ethereum system — when you begin the game and “buy” tokens and when you leave the game and withdraw your funds. All game turns are registered in FairChannel which is not based on the blockchain technology. Every player can have a look at the game algorithm and make sure that all combinations were programmed in advance and no outside interventions in the algorithm took place, so the game result is absolutely fair. In the same way, if the return-to-player (RTP) rate is claimed to be 96 % the player can be convinced of it after a glance at the algorithm.

The beta-version of FairChannel will be developed in April, 2018. FairWin plans to launch the release version in July, 2018.