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Neoplay (NPLAY & EPLAY) — Paxtradings Report

//Neoplay (NPLAY & EPLAY) — Paxtradings Report

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What is Neoplay?

Neoplay is the first online dicing platform that operates on both the NEO and Ethereum blockchain”

-Neoplay Founder, Peter Yang

Paxtradings Quick Facts

  1. Neoplay is a decentralized, provably-fair, cross-network dicing platform that enables users to place bets on the result of a random 100-sided dice roll.
  2. 5,000 NPLAY + 5,000 EPLAY = 1 ETH = 10 NEO
  3. May 5, 2018 — June 2, 2018
  4. 85,000,000 total available / 100,000,000 total supply
  5. A gambling platform built for both NEO and Ethereum platforms

Q&A with Peter Yang, Founder of NEOPLAY

Paxtradings: For those who are not familiar with NEOPLAY, can you explain what it is, and what the team aims to accomplish?

Yang: Neoplay is the first online dicing platform that operates on both the NEO and Ethereum blockchain through both of its native tokens, NPLAY and EPLAY. Neoplay’s primary goal is to introduce and grow the online gambling industry into the future smart economy NEO was designed for.

Paxtradings: How do the NEOPLAY tokens (NPLAY and EPLAY) function within the platform and why are they needed?

Yang: Neoplay’s native tokens, NPLAY and EPLAY, will be used to re-roll lost bets made by users on each blockchain, respectively. All users holding NPLAY or EPLAY will, therefore, have an objective advantage through Neoplay’s unique re-rolling mechanic. Additionally, all tokens spent on re-rolling will be permanently burned by Neoplay’s smart contracts, meaning the total supply of tokens will decrease as players leverage the tokens. Both tokens will be credited to all crowdsale contributors.

Paxtradings: Can you explain your relationship with random.org, and your ability to balance dice rolling randomness vs. security?

Yang: Using block headers, timestamps, or hashes to source the generation of random numbers could allow clever users to manipulate their odds of winning. Neoplay has instead opted to source all random numbers from random.org, commonly referred to as RO. RO derives its random numbers from atmospheric noise made up mostly by lightning strikes occurring 40 times per second, 3.5 million times a day providing an exceptionally high level of randomness. RO is also a verified source for random number generation already providing many traditional and on chain gambling platforms with random numbers.

In addition to sourcing numbers from RO, Neoplay has also developed its own cryptography based security system know as “salting and hashing” to compensate for a “man in the middle attack” meaning intercepting numbers sourced from RO would yield nothing. The random numbers are hashed and a secret string is then added at various points, the mixed string is finally rehashed yielding the result. This method enables the Neoplay platform to be extremely secure even when compared to existing online gambling services.

Paxtradings: What makes NEOPLAY more fair than going to the local casino? What about compared to other online gambling services like Bovada?

Yang: A smart contract acts the same way as a legally binding contract would, but without the need for a governing body. This technology enables platforms like Neoplay to offer users a truly fair game that the user can verify for themselves. Users can now know for sure without a doubt the result of their bet and the expected payout will be fair. Additionally, Neoplay is completely open source officially publishing all its code and making it public for all. Unlike other off chain applications, where users need to trust a third party, once the currency has entered the smart contract neither the user nor the owner can interact with it.

Casinos and other online gambling services don’t necessarily have to abide by their own company policy. In addition to being significantly safer, Neoplay is also significantly cheaper. Neoplay operates on the blockchain, which allows the platform to operate with little overhead cost, which then translates to a very small house commission. Furthermore, Neoplay is the only platform that allows users multiple chances to win their bets in exchange for tokens. Existing casinos can hold house edges of up to 5–7% depending on the game.

Paxtradings: What will the main interface be for NEOPLAY? Do you plan to develop a mobile application or keep it desktop specific?

Yang: The main interface will be very user-friendly with a max bet option, a slider to select the bet, an input for the quantity bet. We are currently working on a mobile version of the platform, but this may take time to ensure the same level of security because of the limited applications and libraries available for mobile development.

Paxtradings: Can you explain the re-rolling mechanics to us?

Yang: The re-roll feature will enable players an additional opportunity to win their lost bets against the house in exchange for Neoplay’s native tokens. The re-roll will cost NPLAY if the user is playing on the NEO blockchain, and the re-roll will cost EPLAY if the user is playing on the Ethereum blockchain. In a traditional dicing platform, users would automatically lose their initial bet as soon as they lose a roll.

Users can still play exactly like this on Neoplay’s smart contracts, however, if the user holds the right token for the smart contract, then their loss will be suspended and held by the smart contract. If the user decides not to re-roll, then the loss will be realized and there will be no way for the user to re-roll the last bet from that point forward. If the user does re-roll, the tokens will be burned by the smart contract and the player’s previous roll will be re-rolled. Re-rolling further differentiates the Neoplay platform and gives Neoplay’s native tokens their intrinsic value. Re-rolling further differentiates the Neoplay platform and gives Neoplay’s native tokens intrinsic value.

Paxtradings: Why go with both the NEO platform and the Ethereum platform for the project?

Yang: Developing the Neoplay platform on both NEO and Ethereum is critical for two key reasons. Most of the blockchain gambling market is currently focused on networks like Ethereum, meaning the jump from one network to the next could be inconvenient for existing users, thus slowing the platform’s growth. By developing the platform on Ethereum alongside NEO, we have effectively paved an easy road for existing users to migrate to our platform, enjoy the benefits of re-rolling, lower fees, and promote activity on the platform all without any extra effort from the user.

The second key reason lies in diversifying away risk. If in the future a critical fault is discovered in NEO or Ethereum, Neoplay could still operate without any trouble and all else remaining equal. Crowdsale contributors will also be holding both tokens on both networks guaranteeing them more security and less risk.

Paxtradings: How far along is the project today and when can contributors expect to use the platform? What does the roadmap look like for the rest of 2018?

Yang: The Neoplay project is in its later stages of development and, depending on the success of the crowdsale, could be fully operational by the second quarter of 2018. Our official roadmap is available in our whitepaper.

Paxtradings: As a non-NEOPLAY question, we like to ask for unique predictions for the ICO and cryptocurrency space in the future. Where do you see both in the next 3–5 years?

Yang: The impact of distributed ledger technology and cryptocurrency will dramatically transform the global economy as we know it today. Everything from artificial intelligence, transportation, communication, content creation, advertising, governance, privacy, computation, etc. will be re-examined and completely overhauled in ways nobody can truly predict. Neoplay will be at the center of that transformation leveraging the power of smart contracts to provide truly fair gambling services to users globally.

ICO Information

The main ICO began on May 5, 2018 and will end on June 2, 2018. There are a total of 85,000,000 Neoplay tokens (NPLAY & EPLAY) available during the main ICO, representing 85% of the total NPLAY & EPLAY supply. A hard cap of 85,000,000 is set for this period.

5,000 NPLAY + 5,000 EPLAY = 1 ETH = 10 NEO = 1 NPLAY & EPLAY token

Current accepted currencies for Neoplay include ETH & NEO.

Neoplay is an ERC20 token, so it’s important that contributors use ERC20 compatible wallets to send funds to the ICO smart contract, and to receive the Neoplay tokens.

Token Information

There are a total of 100,000,000 NPLAY & EPLAY tokens being created, with 85,000,000 available during main ICO.

Contributors will have their tokens distributed shortly after the end of the ICO. Visit the Neoplay website for more information and the contribution address.

How To Participate

Roadmap

Team

View the Neoplay website here.

View the only comprehensive list of active and upcoming Initial Coin Offerings (ICOs) here.

References

  1. Neoplay Website, Neoplay (2018)

https://www.neoplay-crowdsale.io/

2018-05-22T00:33:20+00:00May 22nd, 2018|Categories: ICOs|

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