The online gambling industry is growing each year, with projections that the global online casino market can reach almost $100 billion within 7 years. This rising trend, combined with the increasing popularity of new blockchain based technology, calls for a gambling based blockchain. Spade now took it upon them to create a revolutionizing blockchain for the gambling industry.

Spade wants to create a blockchain powered platform, built to deliver a trustless and unbiased eco-system. The goal of the blockchain-powered platform of Spade is to become the new foundation in the online casino world, with future potential such as allowing the development of decentralized and distributed casino applications.

According to their whitepaper:

“we can run a zero-house edge decentralized casino with close-to-zero transaction fees and provably fair random numbers feeding entropy into a myriad of Smart-Contract-based open source casino applications that can be developed by anyone who has a worthy idea by means of state-of-the art application-specific as well general-purpose programming languages”.

One of the main issues with online casinos is that they are centralised. Despite the introduction of the blockchain technology, the problem remains because there hasn’t been a decentralized casino application with a desired user experience. Spade says they will create this. Also networks like Bitcoin and Ethereum are slow and have high transaction fees, this prohibits small bets.

Even projects which utilize blockchain technology raise several concerns, notwithstanding settlement times and transaction fees. Provable randomness is a huge problem, since miners, given enough incentive, can modify headers for newly generated blocks, affecting the outcomes. The truth is, that most such projects are unable to provide solutions to these persistent problems.

Spade is different, in that the project attempts to workaround all the existing issues and deliver a true, new-generation blockchain casino experience. It does so by firstly, utilizing the Cardano blockchain and leveraging its Ouroboros consensus protocol, which is provably secure and peer reviewed.

Spade’s Roadmap:

Additionally, Ouroboros, being a proof-of-stake protocol, supports scaling and security, and given its native reliance on unbiased entropy, it fits perfectly with what Spade aims to achieve in the online casino space.

The platform’s native token will be SPX, and will be the only currency used for betting. Currently, the Spade pre-sale is live, and a total of 888,888,888 SPX tokens will be sold until February 1, 2018, at the rate of 98,888 SPX per ETH.

Distribution Schedule:

After the pre-sale, the token sale will progress in four stages, each followed by a Jackpot round for participants, with the last sale ending on March 10, 2018.

The Jackpot rounds are unique to Spade’s token sale, and will involve a limited number of lots randomly distributed among token holders. Participants in the early stages of the sale will have a smaller chance of winning, but the lots will be large, while those participating later will have higher chances of winning smaller lots.

Interesting Links:

Spade's Whitepaper

Spade’s Website

Leave a comment to let me know what you think of Spade! I am at-least excited to see the Cardano Blockchain getting used.