Social encounters

Stefan Kovach, FunFair’s CCO has been speaking with Bloktcrypto about our game-changing casino technology and FunFair’s upcoming plans.

FunFair was founded around two principles, fun and fairness, and the FunFair team are using blockchain to bring players provably fair and premium gaming experience.

What Is Provably Fair Gaming, and Why Is It Needed?

Blockchain, due to its immutable and open source nature, offers transparent and auditable code, as well as funding custody services which are always in the players’ control. This gives players “provably fair” gaming solutions.

Typically, blockchain solutions have encountered problems with scalability — in short, the ability to process many hundreds or thousands of transactions in a short space of time, an integral feature for online casino operators.

As it happens, FunFair has a solution for that too.

Leaving It to Fate?

FunFair solves blockchain scaling for gaming scenarios through its proprietary “fate channel” technology, a key feature of FunFair’s technology stack.

But FunFair hasn’t left anything to fate, here’s how fate channels and their native FUN token work, and what they solve.

How Do Fate Channels Work?

Kovach: “Our Fate Channels allow us to overcome scaling issues by taking the real-time gaming component of games off-chain, while ensuring fairness with transparent code and with players not relenting control of their funds to the house during a game session.”

Fate Channels for Fairness

Fate channels likewise improve gaming fairness. Kovach adds that when opening a fate channel:

“Half the random numbers are generated by the player and half by the house. You might cheat on your side, but you can’t fix the other, so there is no incentive to.”

Eliminating either party trying to fiddle the odds in their favor.

Custody of Funds

When it comes to custody of funds, fate channels have got that covered too. Kovach explains:

“Our casinos never have custody of players funds during sessions. Unlike traditional e-casinos, players commit some ‘FUN’, our native gameplay token, and the house covers this to an amount that the player could win — with funds held in escrow on the blockchain. Upon closing the Fate Channel, correct payments are settled by interrogable smart contracts to both player and house, immediately.”

The FUN Token

The FUN token is a native Ethereum ERC-20 token which underpins the FunFair ecosystem.

Used for player wagers, casino license fees, game developer rewards, and affiliate revenues, the FUN token allows FunFair ecosystem participants to transact transparently, with greater speed and security than what other tokens would offer.

FunFair’s Advantages

With so many established and traditional casino operators already incumbent in the space, what advantages does FunFair offer which will give it a competitive edge in disrupting the online gaming space?

Kovach remarked that: “As a decentralized platform, many resources needed for traditional casinos aren’t required, therefore FunFair’s costs are far lower. We are able to pass these savings on to our partners. We don’t need payment providers, security is built in, server costs are negligible in comparison and chargebacks are non-existent.”

In addition to the clear financial benefits realized through FunFair’s platform, Stefen also pointed out that the huge blockchain and crypto audience is waiting in the wings to use a blockchain based gaming solution.

Plans for the Future

We asked Kovach what he thought the biggest challenge was for the future at FunFair, and he had this to share with us:

“Adoption is our sole focus at present. We’ve proven our Fate Channel tech through our live casino launch in CasinoFair. We are now committing the majority of our resources to make the platform as usable as possible.”

When asked which specific areas of focus FunFair would be targeted for research and improvement, a few stood out among the rest. Kovach added:

“There are various areas to focus on, including KYC procedures, wallets and funding, and how best to explain ours and the blockchain’s value propositions to a traditional casino player.”

During the CasinoFair proof of concept launch, the FunFair team have gained valuable insight into player behavior, promotion and campaign offerings which could be implemented with new clients, in addition to identifying and improving the UI/UX of their platform; so users have a seamless experience out of the box.

To accelerate their launch and the success of new operators using their platform, the FunFair team are gearing up for a dedicated affiliate program, opening the doors to vast new market opportunities.

To conclude, we think this statement from FunFair CCO Kovach best summarizes what is just over the horizon for FunFair:

“We believe that if we can provide the ultimate, functional casino experience that can match any existing igaming site out there, but with added provable fairness, then surely, it’s a no-brainer… For the players, they’re simply getting the best gaming experience on the blockchain.”

We wish the FunFair team the best of luck in changing the future of online gaming.