Edgeless Ethereum Casino| Crowdsale 28/02/2017



  • Decentralised Edgeless CASINO by etherslots.win

    The Ethereum smart contract-based Casino offers a 0% house edge and solves the casino transparency question once and for all.






    Online Casinos - Price and Transparency

    The online gambling industry was valued at USD $45 billion in 2016. However, it has two major problems: the price of the gamble and transparency. The price of the gamble comes from unfriendly user rules: a large house edge of 1% - 15%, money deposit/ withdraw fees and 2 - 3 days withdrawal delays. Besides that, there is no way of knowing what is happening inside the casino servers and how the mechanisms are programmed. It can be easily rigged. Players need to rely on trust in the casino which is not the best option in such a profit-driven industry.


    Using the power of the Ethereum smart contract, we are introducing the Etherium-based Online Casino which offers ZERO edge for its players and
    100% transparency.


    Crowdsale start February 28th, 2017, 3PM GMT

    Power hour (28th February 2017, 3:00 pm GMT - 28th February 2017, 4:00 pm GMT)1ETH = 1200 EDG

    1 week (28th February 2017, 4pm GMT - 7th March 2017, 4pm GMT):1ETH = 1100 EDG

    2 week (7th March 2017, 4pm GMT - 14th March 2017, 4pm GMT ):1ETH = 1050 EDG

    3 week (14th March 2017, 4pm GMT - 21th March 2017, 4pm GMT):1ETH = 1000 EDG

    Milestone 1

    In the first phase, we will develop 0% house edge Blackjack and the "Edgeless Lounge". The Lounge will ensure a decentralised price pool which is backed by 40% of casino profits. People will have a chance to win it using our EDG tokens. Another part of investment will be allocated to the casino bankroll/bank so the casino can pay out wins for the first wave of visitors. 50.000 ETH

    Milestone 2 

    At this phase, most of the funds will be allocated to security and hacker prevention plus increasing the size of Edgeless Casino’s bankroll so that it can payout larger wins. An increased bankroll can take more visitors and wager larger bets.  110.000 ETH

    Milestone 3

    We will work on the development of a new game - 0% house edge lunar/ russian poker. It’s based on luck and skill, the same type as Black Jack. The second game will be micro limit dice - a pure luck game.190.000 ETH

    Milestone 4

    This phase is all about sports betting development. It is on a smaller scale but has a better ROI than traditional games. Our Edgeless way provides a much lower edge than other casinos - sports betting will compensate this allowing our casino to stay competitive.250 ETH

    Milestone 5

    The Grand Vision - a platform for developers where they can easily take our tools and develop their own fully transparent casinos so that cryptocurrency and blockchain can become the standards of the casino industry and later on, the standards of the world.360 ETH

    How the crowdsale funds will be used?




    EDGELESS TEAM:

    Ignas Mangevicius, Co - Founder Blockchain-Based Systems Developer, Etherslots Founder

    Firstly he is a father and a husband. Secondly he profoundly enjoys developing centralized and decentralized systems. He is  a university educated Information Systems Engineer who has been  working in IT for more than 10 years.He is now focusing on smart contracts and Ethereum-based decentralized apps that he sincerely believes will make us a better world. His most recent project is the etherslots.win, Dapp built on the Ethereum blockchain.

    LinkedIn >

    Tomas Lukosaitis, Co - Founder Operations and Business

    Tomas is coming in from the field of P2P technologies, the sharing economy and FINTECH industry. He was working as digital marketeer in a platform called “SAVY”. It is a peer to peer lending platform which connects investors to consumer loan offers. Currently, Tomas owns an IT development company which specialises in Mobile App Development. His key competences which are needed for Edgeless Casino are: digital marketing, and operations management.

    LinkedIn >

    Tomas Draksas, Co - Founder Professional Gambler and Poker Player

    In 2008 - 2013, online poker was on the rise and a lot of new players were jumping into the game. At that time, Tomas  decided to study the math of probability and poker. Later on, his direction changed to investing, cryptocurrency and digital marketing. He is the CEO of a conversion rate design company, Convi Design, which provides solutions to start-ups in the field of conversion rates and sales funnels. Additionally, he is investing into other startups. His key competences which are needed for Edgeless Casino are: probability math and models, gambling theory and psychology, digital marketing.

    LinkedIn >

    Dipl.-Ing. Julia Altenried, Smart Contract and Dapp Developers

    She studied computer science at the University of Salzburg and the Politechnical University of Madrid. Julia has gathered over eight years of experience as a software engineer, working for different international companies, and then founded JAM Data. Julia specialized in IT-Security and later blockchain technology with a focus on Ethereum smart contract development. In Blockchain technology, she sees the potential to increase transparency in governmental operations as well as business processes, thereby reducing corruption worldwide. When not working, she is traveling around the globe or practicing Yoga.

    Dipl.-Ing. Stefan Höller, Smart Contract and Dapp Developers

    Stefan was formally educated at the University of Salzburg. His career started 15 years ago as the e-commerce department head for Austria's largest bicycle retailer. He's a professional mean-fullstack engineer and early blockchain enthusiast. Currently, he is consulting for companies regarding decentralized applications. Stefan sees blockchain technology as a powerful tool to bring equal chances to developing countries. He is a fitness-freak and passionate about exploring foreign cultures.

    Paolo Rebuffo, Advisor of Edgeless Project Blockchain Investor and Analyst

    Paolo Rebuffo is a whale cryptocurrency investor and senior advisor/strategist of "Digital Identity". His work is related to search and analysis of valuable blockchain-related projects. "Digital Identity" has its own development team that is currently working on the bitcoin and ethereum blockchains. They also do direct financial investment in other crypto projects. Besides that he actively travels the globe and meets blockchain project teams in person.


    Ransu Salovaara, Advisor of Edgeless Project CEO of Revoltra.com and TokenMarket.net

    Ransu is the co-founder and CEO of Revoltura, the company behind BitcoinETI, Europe’s first bitcoin-backed exchange traded instrument. BitcoinETI is listed on the Gibraltar Stock Exchange and traded at the Frankfurt Stock Exchange. Ransu is also an escrow for several blockchain projects. Additionally, he is an active blockchain community member and believer in decentralisation.

    LinkedIn >

    whitepaper:https://github.com/EdgelessCas...


    Bounty: https://edgeless.io/bounty.php

    FAQ:

    Q: What is Edgeless Casino?

    Edgeless casino is fully transparent since
    it is based on Ethereum Smart contracts. All Ethereum smart contracts
    are non-changeable and publicly available for everyone to see and
    examine.

    Q: How are other traditional online and bitcoin casinos cheating?

    There are two main ways. First, the casino
    can easily overcome their own 'random fairness check' without being
    spotted. Second, the casino can easily fake win sums and hide profits
    from investors (in case they are sharing it with investors). Check the
    1.2. Section in the White Paper for a detailed explanation.

    Q: How Edgeless Casino is transparent?

    Edgeless casino is fully transparent since
    it is based on Ethereum Smart contracts. All ethereum smart contracts
    are non-changeable and publicly available for everyone to see and
    examine.

    - Edgeless Casino players will trust that the casino will
    not able to cheat against them. EDG shareholders will alway be sure of
    that.  

    - Edgeless Casino is transparent by providing full disclosure of the amount of profit earned.

    - EDG shareholders will be able to trust that in 30 days
    cycles, they will be transferred 40% of Edgeless’s profit to their
    wallets by non-changeable smart contracts.

    Q: What is “The House edge”?

    The House Edge is a term used to describe
    the mathematical advantage that the gambling game (therefore the
    commercial gambling venue) has over you as you play over time. This
    advantage results in an assured percentage returned to the house over
    that playing time, and for you, it is an assured percentage loss of what
    you bet.

    Imagine that you are playing roulette and you bet 100$ on a
    colour red. Because roulette has a number zero coloured in green, which
    is neither red or black, the house gets an advantage of 2.7%. This is
    calculated by:100 : (36 +1) = 2.7%

    So if the house has an “edge”, you basically lose every
    time. If you bet 10$, your expected loss is 0.27$ dollars. In 1 hour,
    you can spin approximately 20 - 25 times. If every time you bet 10$, in
    that hour you are expected to lose 5.4$ - 6.75$.

    Q: Are Edgeless tokens tradable on exchanges marketplaces?

    If a token holder wants to trade the tokens,
    he/she may do it easily because the tokens are based on the ERC20
    standard. In order to prevent multiple withdrawals using the same
    tokens, the tokens will be locked for trading for the rest of the
    interval after the profit has been collected. As soon as the next
    interval starts, the tokens will be unlocked automatically.

    Q: How to reduce edge up to 0>#/h3### A casino has a blackjack edge because they have the best decision making position - the last one. That means players can bust before the house even draws a card. To compensate for this edge, the house gives additional bonuses for the player such as 1 to 3 payoff in the case of a blackjack, and the ability to double bet if the casino has a bad card. That’s exactly what we would do - by increasing these additional bonuses to reduce the house edge to 0%.

    Q: What is "Edgeless Lounge"?

    "Edgeless Lounge" is a special lottery game
    which can be played using EDG tokens. Participants compete to win a
    lottery pot and prizes are paid in Ethereum currency. 40% of Edgeless
    Casino profits go into a prize pool for "Edgeless Lounge". The lottery
    takes place every month.

    Q: Where your team is based? Have you built any other projects on blockchain?

    Our team is based in Lithuania and Germany. First ETH casino project we built is: etherslots.win

    Q: Why do I need Edgeless tokens?

    - Participate in the "Edgeless Lounge" lottery game and win a share of 40% of casino profits!

    - Edgeless Casino is fully transparent since it based on Ethereum smart contracts

    - Edgeless Casino players will be able to trust that the casino will not cheat against them

    - EDG shareholders will alway be sure that Edgeless Casino is transparent in providing the full amount of profit earned

    - Edgeless is the first casino with 0% edge based on Ethereum blockchain

    - Edgeless Casino will have strong competitive advantages
    (0% edge, transparency) to increase market share in order to become a
    sustainable business.

    - Edgeless Casino will provide many gambling games (BlackJack, Video Poker, Dice, Sports Betting)

    Q: How Edgeless casino can be profitable with 0% edge?

    Casino profits and 0% (0.83% in practise) house edge concept.

    There are several ways how Edgeless Casino can be
    profitable. Edgeless Casino provides games which depend on LUCK+SKILL
    and Sports Betting.

    The first two games provided will be Blackjack and Video
    Poker. Both games are played with a combination of LUCK and SKILL. That
    means players make choices and either play well or poorly. To give an
    example of such a situation:

    Blackjack: 

    House has a 6 card. 

    The player has 16. 

    The player wants to collect at least 17 and hits for one more card. - BAD MISTAKE. 

    The player just made a huge error, because, 12+ against 6 ALWAYS STAYS. (according to Blackjack basic strategy)

    An average player does not play ‘the perfect game’ therefore, in the long run the casino makes a profit from his mistakes. 

    An analogy can be taken from poker. A new player is
    playing against a Pro. Both have equal probability conditions - 50% vs.
    50%. However, the Pro player makes better choices and the new player
    makes bad decisions, and in the long run, the Pro wins.

    Look at this EXTENSIVE RESEARCH  from players’ mistakes in Blackjack - on average they give away an 0.83% edge to the casino. https://wizardofodds.com/image/ask-the-wizard/how-poor-are-bj-players.pdf

    And that's exactly what the casino will earn - 0.83% which is the same as playing dice with an 0.83% house edge

    The second stream of profit comes from sports betting.
    Sports Betting connects bettors against each other, charging vig / juice
    / rake from each side for their bets. In this area, the casino will
    earn 4% from all money wagered. An analogy can again be taken from
    poker. Imagine two players are betting 10$ against each other and the
    rake is 1%. So, they are actually betting 9.90$ and winner gets 19.80$. 

    More information on how sports betting is making money: 

    http://www.biasharainsight.com/2016/01/how-do-sport-betting-sites-make-money/

    To sum up - the first stream of profits is from games of
    luck+skill. The second stream of profits is from Edgeless casino with
    0% edge games and is a very strong marketing channel for attracting
    players to Edgeless Casino. Gamblers can enjoy fair betting conditions,
    and a good percentage of visitors will do Sports Betting which generates
    4% returns to the Casino.

    The concept has not literally come out of the blue - discussions on zero edge casinos are already occurring in the community.

    https://www.bitedge.co/blog/0-...

    https://www.reddit.com/r/Bitco...
    wi/which_is_the_lowest_house_edge_fair_bitcoin_casino/


    Join: https://edgeless.io/crowdsale.php




  • EDG token investor’s protection

    Edgeless ICO day is approaching, so we are going to release more information on our Edgeless Token.

    Due to the many the poor ICOs that have come before, more and more investors are getting serious about their investment protection. Since a crowdsale is a ‘product’ for investors, we will outline here the main crowdsale governance elements protecting investors from scams, token devaluation, or a failed ICO.

    1. Smart Contract Escrow — The ICO is based on Ethereum Smart Contracts which automatically govern all ICO process. Contracts are uploaded to the blockchain. During the ICO it’s impossible to interfere with this process. It also works as an escrow. What that means for ETH is that the smart contract automatically sends EDG tokens to investors. Other famous projects which have used the same escrow system are golem, vDice, and melonport.

    2. Smart contract protection from hacking: Edgeless ICO uses officially tested/ released Ethereum Foundation contracts. We also build our contracts on that. However, ICO contracts are relatively simple, so there are not so many points at which it can be hacked. Moreover, we are carrying out significant contract testing prior to the ICO, and our contracts will be audited by First Blood’s IT advisor — Mikko Ohtamaa. Similar contracts have been used by other successful ICOs, such as golem, vDice, melonport.

    3. Early investor protection — ICO minimum goal. We set milestone 1 as a minimum ICO goal of 50 000 000 EDG tokens sold (41666 ETH — 50 000 ETH). If this minimum goal is not reached, the ETH is automatically returned to investors. This process is guided by a Smart Contract, and it also protects early investors in the event the project does not raise sufficient funds for development.

    4. Unsold token burning — The ICO sells 440 000 000 EDG tokens. Unsold tokens are automatically burned by the Ethereum Smart Contract. Investors are thereby protected from possible token devaluation, for example, in the event that half of the tokens were not sold, and a development team was in a position to devalue the token.

    5. The dev. team gets 10% of the EDG tokens. Tokens are automatically locked for 12 months by a Smart Contract. This means investors can be sure that the Edgeless dev. team has an economical incentive to increase the value of the token, and investors are also protected from the risk of immediate token dumping following ICO.

    6. Instant Bounty participant payouts are made based on the ICO ETH raised. Other part is released over time. This protects investors from bounty participants dumping tokens early and devaluing the token.

    7. What if I do not understand Smart Contracts and I cannot be sure that all the points mentioned above are actually programmed into the contract? Actually contracts are not that long, and we will release a medium post explaining which line is responsible for which of the above functions. Our contracts will also be audited by a 3rd party to confirm that all the investor protection functions mentioned above are actually programmed into the contract.

    8. Profit sharing tokens risk NOT appearing on large exchanges. That’s why our project does not offer a profit sharing token or deal with exchanges beforehand.

    9. Project communication after ICO: Following the ICO, weekly project updates will be issued via newsletter/ twitter/ blog and other channels. In this way the blockchain community and investors can see the direction of the project. Constant project communication also raises the value of the token and helps the project to grow even more.

    10. Raised funds diversification. Cryptocurrency value jumps around quite often and there is a risk of ETH price going down. Therefore, to protect raised funds from unpredictable pricing, the fund will be diversified into several different assets.

    What do you think about investor’s protection which is available due to power of an Ethereum Smart Contract?

    QUICK LINKS:

    Website: www.edgeless.io

    White paper: http://bit.ly/2jHIb7T

    Slack: edgelessethcasino.signup.team

    Telegram: https://t.me/joinchat/AAAAAEBTy7K9KXQcQsyozQ

    Reddit: reddit.com/r/edgeless

    Twitter: twitter.com/edgelessproject

    Facebook: www.facebook.com/EdgelessCasino



  • Edgeless Token (EDG) is on myetherwallet

    Crowdsale did not even started yet and EDG token is already on myetherwallet.com

    Smart Contract will send you EDG tokens instantly, during an ICO start. Real time.

    About author, 

    Tomas DraksasDrake as Edgeless.io Co-founder, Professional Gambler and Poker Player



  • Day after Edgeless ICO start and Black Jack Bet

    Hey blockchain community and gambling enthusiasts!

    The Edgeless team are extremely happy to have successfully reached the 1st milestone on the first day of the ICO, raising 52 000 ETH. (960.000$)

    Milestone 1 guarantees the Edgeless Project to the gambling market, and our solidity programmers already started working on it.

    In this milestone we guarantee to develop:

    • 0% house Black Jack
    • Edgeless Lounge Lottery
    • Proper bankroll management system

    Some additional deliverables we are considering which were not included in our white paper:

    • A Smart Contract which would allow people to bet for a casino/ to a casino’s bankroll.

    This is similar to the system currently used by BTC casinos. People can bet on the casino’s bankroll and receive a certain amount of return. Over a long run, the casino’s bankroll wins.

    However all BTC casino owners can easily “drain profits”, creating admin accounts and rigging odds specifically for that account.

    In our case, everything is based on a Smart Contract so all information is public and people can be sure that their profits are not being drained.

    Black Jack beta

    Second really excisting thing is 0% house edge Black Jack Beta. Our developers are working hard on a 0% house Edge Black Jack. We expect to launch a beta version on Ethereum Test Net in late March. Stay tuned, more details are coming soon.

    Further goals we are working on in the coming week.

    • 0% house edge Black Jack Montecarlo simulation. We will soon be publishing the rules of a Black Jack game which offers a 0% house edge when played at optimal strategy. We will also be publishing files for a Montecarlo simulation, which you can view on your own or provide us with feedback on rule changes.
    • Building an EDG token infrastructure and adding it on etherscan, parity and other necessary ethereum infrastructure units.
    • Continuing work on an ICO and spreading the word about how an ethereum casino startup is going to disrupt the whole industry

    QUICK LINKS:

    Website: www.edgeless.io

    White paper: http://bit.ly/2jHIb7T

    Slack: edgelessethcasino.signup.team

    Telegram:https://t.me/joinchat/AAAAAEBTy7K9KXQcQsyozQ

    Reddit: reddit.com/r/edgeless

    Twitter: twitter.com/edgelessproject

    Facebook:www.facebook.com/EdgelessCasino



  • Update on EDG token infrastructure

    Hello EDG tokens holders!

    We are happy to announce updates on:

    1. EDG token logo
    2. EDG token in ETH wallets
    3. Token Verification by Etherscan

    We have uploaded the official logo of our token to github

    EDG token on ETH wallets

    EDG token is already added as a “default” token on Parity and Myetherwallet.

    This is how a token looks on parity as a default token

    And EDG token on myetherwallet as a default token

    Regarding other ETH wallets: other ETH wallets still require adding EDG tokens manually. If you have it, add it manually using a token address:0x08711d3b02c8758f2fb3ab4e80228418a7f8e39c (DO NOT SEND ETH HERE)

    Token Verification by Etherscan

    EDG token is successfully verified byetherscan and added to their ETH token list: https://etherscan.io/tokens

    Etherscan tracks all ETH blockchain movement including mov

    Some upcoming news:

    • This week we are officially launching Edgeless Beta Black Jack on Ethereum testnet
    • This week we are publicly releasing the Montecarlo simulation of Black Jack rules so people can test it on their own and simulate thousands of hands

    ‘Sneak peak’ of Black Jack GUI



  • Edgeless beta 0.1 announcement!

    The time has come!

    Let me introduce Edgeless Black Jack beta 0.1

    beta.edgeless.io

    Ethereum based Black Jack with decentralised random number generation and payouts.

    DISCLAIMER: Keep in mind that this is a beta version. The purpose of it is to showcase/ prototype blockchain solutions for Edgeless online gambling applications. It might contain errors or bugs or security issues. If you find some, please report them to [email protected]

    Key features

    • Black Jack based on Ethereum cryptocurrency
    • Betting integration with metamask
    • Smart Contract guiding all casino transparency and reporting it to the blockchain
    • Players can provide a randomness generation seed using random.org, Mozilla crypto library generated randomness, or even create their own number seed

    Main features which ARE NOT in the beta version, but will be added later on for full beta functionality

    • Betting integration with myetherwallet
    • 0% house edge Black Jack rules (as you can see now there is no split and double functions which significantly reduce the house edge. These features and 0% edgeless rules will be developed later on)
    • Upgraded game user interface. Right now we are using oversimplified designs for the beta version. Updated versions will have much more fancy design :)

    An updated development roadmap will be published after the ICO.

    Beta bet limits

    Right now you can bet a unit which is call “finney”. It’s 1/1000 ETH.

    Options are:

    0.1 chip — 0.0001 ETH

    1 chip — 0.001 ETH

    5 chip — 0.005 ETH

    10 chip — 0.01 ETH

    Transaction costs (gas)

    Right now betting (transaction) gas is paid by the player. Due to the increased ETH price, gas is relatively high. However the gas price will be significantly reduced in the full version of Black Jack.

    Casino speed and metamask transaction confirmation

    In the current version of the casino metamask is always asking for confirmation before a bet and payout claim. It’s quite irritating. Also shuffling gif is open while metamask is communicating with Edgeless Casino which reduces the speed.

    That’s why our final version will be able to use more available ETH wallets such as myetherwallet integration. Then the casino will function at the speed of light and deliver the best user experience.

    Despite this our gambling dapp is still the FASTEST dapp among all ETH based gambling dapps and our competitors are a long way off when it comes to the speed of the casino.

    How randomness is generated?

    It’s using client’s seed (number) and casino’s seed (number). Both numbers are blended into a random number which determines a final outcome. Main idea is that even if casino change own seed or randomness generation formula — final outcome is still going to be unknown, because there is an input (seed) from a player.

    After the game blockchain confirms whether there was no change/ interruption in that process and makes sure that everything is transparent.

    If etherscan API says

    “{“jsonrpc”:”2.0",”result”:”0x0000000000000000000000000000000000000000000000000000000000000001",”id”:1}”

    It means client’s seed and casino’s seed matches last game results and there were no changes during a randomness generation process.

    If etherscan API says

    “{“jsonrpc”:”2.0",”result”:”0x0000000000000000000000000000000000000000000000000000000000000000",”id”:1}”

    That means client’s seed and player’s seed does not match last game results and there was an external interruption during the process.

    More info you can find on ourwhitepaper or blog post.

    How to bet on Edgeless beta?

    1. Download metamask and switch it to Ethereum main net
    2. Fund your ETH wallet on metamask
    3. Go to beta.edgeless.io
    4. Place a bet
    5. Accept metamask confirmation
    6. Enjoy! and don’t forget to provide feedback to [email protected]

    QUICK LINKS:

    Website: www.edgeless.io

    White paper: http://bit.ly/2jHIb7T

    Slack: edgelessethcasino.signup.team

    Reddit: reddit.com/r/Edgeless/

    Twitter: twitter.com/edgelessproject

    Facebook:www.facebook.com/EdgelessCasino




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