Seeking to become a disruptive force in online gambling by bringing the wonders of blockchain technology — with immutable transactions, transparency, and security — Sp8de is having a token crowdsale to fund its marketing and development to become the next generation of gambling. While the public has largely avoided casinos using the blockchain, Sp8de aims to bring its benefits more successfully. For users of tablets and portable devices, the speed and scalability of the platform will be especially appealing.
To make the Sp8de platform ideal for online gamblers, the team behind the project has selected the Cardano blockchain on which to build. The Cardano blockchain is an advanced blockchain that allows for the development of decentralized applications (Dapps) and smart contracts. Founded by Charles Hoskinson, a cofounder of Ethereum, it is meant to scale more effectively than Ethereum and predecessor blockchains. Notably, the Cardano blockchain uses a proof-of-stake algorithm called Ouroboros that is continually being tested and developed by academic cryptographers. The speed and security offered by Cardano as an advanced blockchain will give gamblers a positive experience that will encourage them to continue gambling, and its security will provide assurance to those concerned about hacking or theft online.
The blockchain will open new doors for the online gambling industry, by allowing for transparent and decentralized transactions between users around the world. The transactions are viewable on a public ledger that cannot be tampered with, bringing confidence to an industry widely perceived as rigged due to large house edges and political efforts to restrict competition. The decentralized and open nature of the platform will allow developers to contribute to the project and be compensated, fueling the growth of the ecosystem. Additionally, the software running the platform will be open-source, allowing the public to verify that the platform is provably-fair and secure. Sp8de will remove, to the greatest extent possible, the house edge and will generate random numbers that can be verified with its open-source software to enhance the gambling experience of users and win their trust.
The native token of the Sp8de, SPX, will be used to pay for fees and services on the platform. Initially, SPX will be ERC20 compatible, meaning it will run on top of the Ethereum blockchain. Once the platform is ready, and the Cardano blockchain on which it runs is developed further to make it suitable as a blockchain, given its early stage of development, the platform will be migrated to the Cardano blockchain with a token swap of equivalent value.
The token crowdsale to raise funds for the realization of this project is taking place right now and will last until March 11, 2018. During this time, investors will be able to obtain SPX at 58,888 per ETH. In total, 8,888,888,888 SPX will be minted. As the platform grows in popularity, SPX has the potential to increase in value, but as always, investors must do their own due diligence and decide for themselves if Sp8de is a good investment for them with the understanding that cryptocurrencies will always carry risk.
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