SatoshiFomo, the First Dapp Game Built on the Bitcoin Cash Blockchain - Crypto Coin Press - Crypto News, ICO's, Analysis, Live Prices

SatoshiFomo, the First Dapp Game Built on the Bitcoin Cash Blockchain

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Dapp games also known as blockchain games, in general, are considered to be the most practical use for blockchain technology outside of the financial industry and have gained rapid growth over 2018. They have been playing an important role in popularizing and normalizing blockchain technology to the public. With the launch of SatoshiFomo, Bitcoin Cash is also welcoming its first dapp game.

What’s SatoshiFomo?

SatoshiFomo is a decentralized investment game running on the Bitcoin Cash network where players invest to gain profits by purchasing keys which are their stakes in each game round. With each key purchased, the round is prolonged and the price of key subsequently goes up. Key holders receive a stream of passive income from the game as keys are bought during the round and the player who buys the last key when the round is over wins the jackpot. The game is highlighted by the following features.

Easy to play. Integrated with SatoshiGame which is a platform for applications on Bitcoin Cash, seamless in-game payment is now available. Moreover, the game is playable on both PC’s and mobile devices.

Highest dividend rate. What people concern the most in an investment game is its ROI. Compared with other similar games, the dividend rate of SatoshiFomo is as high as 75% and is withdrawable at any time, which means players can expect double or even triple of their investment in a very short time. On testnet, the first investor of 1 BCH managed to achieve 100% ROI when the second 1 BCH came in.

Triple profits capping. In SatoshiFomo, the highest dividends a key holder can receive are no more than 3 times of his/her previous investment. The capping is designed to prevent the earliest 1% of player from taking 99% of dividends. It ensures late participants’ profits to the greatest extent. It is important to point out that players can always reinvest their dividends to expect more profits.

A DPOS consensus based on the 1-plus-m-of-n multi-sig mechanism. The absence of smart contracts has been a great obstacle to developers to build dapps on the Bitcoin Cash blockchain. However, by introducing a DPOS consensus based on the multi-sig mechanism which is the key feature of Bitcoin, SatoshiFomo managed to reach decentralization to its greatest extent.

For every 100 BCH deposited in the game, a random number will be generated by hashing the blockheight and timestamp at the time to determine 11 supernodes from 50 player candidates. Together with the official public key, they form a 1-plus-m-of-n multi-sig address. Here ‘1’ represents the official public key and ‘m-of-n’ indicates the player supernodes. For any transaction requests to this multi-sig address, it will need both the official and 6 other supernode signatures out of the 11 to get through. For instance, if a transaction has the official signature, but doesn’t have supernodes’ signatures, it will fail and vice versa. Moreover, to encourage supernodes to take their obligations, each supernode will receive 0.1 BCH each time for signing.
The overall mechanism works similar to EOS’ DPOS consensus. What has to be pointed out is that compared with smart contracts, it may not be as decentralized as it seems. However, since each jackpot is secured by a random 1-plus-m-of-n multi-sig address, it’s nearly impossible to be taken away by individual or group.

Why choose Bitcoin Cash?

As of now, most dapp games are live on Ethereum. But it doesn’t mean Ethereum is a perfect platform. It’s not news that Ethereum jams up again or gas fee goes crazy high. No gaming experience can be expected in such cases. The Bitcoin Cash network on this point has its own advantages.

Fast processing speed. Replying the powerful zero confirmation mechanism, transactions can e done in seconds. No more wait times.

Low transaction fee. Unlike Ethereum where from time to time you have to pay over 100Gwei for a single transaction to miners, which could be several dollars, while on Bitcoin Cash the transaction fee is less than one penny.

High scalability. Most would deem Bitcoin Cash is merely a cryptocurrency, but as a matter of fact, it’s a top-notch platform for dapps and games as well. With a proper design, complex and playable applications can also be built. SatoshiFomo is not only a social experiment but also an exploration of the great potential in the Bitcoin Cash network.

Click to participate: Game Website, Discord Community, Telegram Community.

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