Decentralized Finance News – DEFI NEWS

DeFi News updated several times a week, DeFi, GameFi, Metaverse, NFT news. Actualité de la finance décentralisée , #crypto #NFT #Metaverse

BitPaid, next generation blockchain platform

Avr 12, 2022
4.88 (712 votes)

BitPaid, next generation blockchain platform. Discover its ecosystem and direct access to its official website.

Bitpaid

Bitpaid enables any business to send, receive, store, convert and accept payments in crypto-currencies in a secure and cost-effective manner.

It is a fast, simple and efficient innovation from monetary administrations that opens up access to Crypto markets.

Bitpaid permits any business to safely and cost-adequately Send, Receive, Store, Convert and Accept CryptoCurrency Payments.

BitPaid consist of multiple programing, first of all the smart contracts are based on Binance Smart Chain (BEP20). Which is fork of Ethereum Protocol.

Bitpaid, how is it different from other protocols?

BitPaid is on daily base providing different applications to their users.

All the latest trends application is developing by BITPAID. There goals is to achieve all those forks which is implementing by experts in the market to give them a new shape of version with better quality services. So it can give the advantages as compare to ongoing application.

BitPaid is based on Binance Smart Chain (BEP20) at the moment but they are expending their products all around the world. Which is best sign.

While other projects with single aim to achieve one goal on the other hand BitPaid is aiming to achieve more goals with different products.

BITPAID is based on multiple applications. In which some latest and trending application exist and some are ongoing.

The application list is given below:

  • yield farming
  • staking
  • NFT
  • casino gaming
  • IDO
  • exchange (DEX)

BitPaid crypto games:

BitPaid Crypto Games offers a simple experience: connect a wallet, place a bet on a random number and get rewarded if you guessed right, without any kind of authentication like email connections. It’s clear that this project will make a lasting impression on GameFi news.

Here are some words from the team:

Let’s define our goal. We want our casino to work this way.

A user chooses some number between 0 and 99 and bets ETH on this number. The user gets notified if they win immediately after a block with this transaction is added to the blockchain (it means the result
should be available in the exact same block).

After this the user can send another transaction to claim their prize which is their bet multiplied by 99 The requirements are also very simple.

No centralized services.

No random oracles – they are cool, but we can do it without their help.

Security is the first priority – no one should be ever able to get an advantage of the casino to increase their chance of winning.

First. The nature of casinos. When I think of the word “casino” I imagine something bright, rich and luxury. Las Vegas, neon signs, gold, drugs and easy money. We are attracted by these dreams of instant wealth. And we are sure that the place that can make us rich should have billions of dollars in its safes.

We don’t know how much money do casinos possess in reality, but we believe there is much.

This is very important. All these luxury things won’t matter if there is a big display inside the casino that shows how much money does the casino have available in the prize fund. You can’t say “come on, everybody gets a million!” if everyone sees that you only have $10k. And in the decentralized world there is such a display for everything.

Everyone could check how much money your contract has on it and then adjust their expectations.

We can’t fix this problem. If our casino has only 1 BNB on its balance, there is no way to win 100 BNB in it. This makes it less attractive to users – no one is becoming millionaire in one night. But we can offer
transparency in exchange. We can say: “Here are the rules. No one can break them (even the casino owners).

If you follow these rules, you have a fair chance to transform your $1 into $99 in seconds. No lies”.

Every casino needs a reliable source of randomness. Centralized casinos don’t have randomness – they have algorithms to make money and sometimes share a bit with some lucky ones. Crypto Games can’t do
things the same way – they should be fair. Moreover randomness in a Crypto Game is the key point of security – it is the armored door protecting the prize fund. If your casino has weak randomness, your
prize fund will be stolen.

Randomness is hard to achieve in a deterministic environment, because it is defined to be undetermined. They are two incompatible things.

However there are some tricks to obtain secure randomness in such an environment as EVM and I will teach you them.

Direct access to the official website

Vous aimez, partagez-le à vos amis, merci!

MDN

You cannot copy content of this page