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What is CHIPS Coin?

What is CHIPS Coin?

introduction

Bitpoker is a decentralized online poker platform that wants to become the future of online poker. The associated cryptocurrency of the platform is the Chips Coin. A coin currently costs $ 0.11. The cryptocurrency has a market capital of 2.3 million USD, of which daily nearly 2 thousand USD are traded (as of 09.12.2017).

What is Bitpoker?

Bitpoker is an online poker platform based on Blockchain technology. The decentralized platform is designed to enhance today’s poker industry by introducing the benefits of decentralized Ledger technology. Bitpoker works as a peer-to-peer platform and protocol that allows users to play uncensored over the Internet. It aims to be the open bazaar of the online poker industry, emphasizing that key game models – like today’s online poker sites – are being replaced by a more transparent, secure and decentralized structure.

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Like other distributed systems, Bitpoker wants to be proven to be fair. No central player can manipulate the game and change the outcome of the bets. The pre-sale for the Bitpoker Token (CHIPS Coin) started on August 15th, the general ICO took place in September.

Who is behind Bitpoker?

Bitpoker is led by CEO Dmitri Motorov, who has been a professional poker player for 11 years. He worked with Chief Technical Officer Lucas Cullen to develop Bitpoker. Lucas is a software developer active since 2011 in the Bitcoin business. He played online poker for the first time on Yahoo in 2001, and Bitpoker was his idea. Bitpoker is registered in Costa Rica under the name BITPOKERIO SLR.

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Bitpoker functions

Bitpoker used Whisper or ZeroMQ to allow users to quickly send and receive messages over the network, thus ensuring a faster gameplay. Deposits and withdrawals are on the Bitcoin handled network, which is faster than Fiat deposits and payouts, but obviously not the fastest cryptocurrency platform.

The money remains in the control of the player: The players are not asked to make a deposit. The players open the payment channels, which means that the funds are always under their control. They are never kept in a centralized wallet or server – as traditional online poker sites do. In terms of architecture, Bitpoker MVP will use either the Ethereum Smart Contracts or a P2P system. The white paper outlines plans for both options.

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The CHIPS Coin Token

As a CHIPS coin token holder, users can operate a “bitcoin table” and charge a small fee, which is paid out in bitcoins. CHIPS Coin token holders also enjoy the rake-free game. With the spread of the platform and limited supply, demand for the CHIP token will increase. The product may also be whitelisted and implemented in online casinos and poker startups – if they want to use a digital currency on their gaming platform, but do not feel the need to develop their own token from scratch. 60% of the total token offer was sold during the ICO. 10% each will be used for development in 2020 and 2021 and 20% will be provided to the team with a 3-year cut-off period.

Conclusion

Bitpoker is an online poker game based on Blockchain . The game aims to bring the benefits of blockchain technology to the world of online poker. There is no MVP yet, but the company plans to introduce it before the end of the year. The CHIPS coin token sale took place throughout September and October.

For More  Digital Coins Information  here

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