Post-Parity-hack FAQ by EDGELESS
From now on, EDG tokens will be used for gambling on Edgeless Casino?
Yes, players will need to get EDG tokens if they want to make a bet. Actually, most ETH projects have the same model — tokens are used in exchange for a platform’s services.
But, wouldn’t it be hard for people to get EDG tokens instead of ETH?
Thanks to https://www.shapeshift.io/ and https://changelly.com/, players can instantly convert any crypto to EDG token without having an account and getting full anonymity.
Edgeless bankroll will be based on EDG tokens. How large is your bankroll going to be?
Yes, from now on, our casino’s bankroll will be in EDG tokens. We have not decided on a size of the bankroll. It depends on the price of an EDG token during a launch week.
Do you have sufficient funds to deliver everything that is promised in a whitepaper?
Yes, we have sufficient funds to operate for upcoming 1–2 years. Additionally, team tokens will be unlocked in 8 months which can be used for the series A investment or an ICO.
Ethereum increased in price significantly. How are you going to solve the large gas problem?
Our RNG function (1 hand) requires 1 ETH transaction. If PoS by the Ethereum Foundation won’t be released anytime soon, we will pack more hands into 1 ethereum transaction; that means players will be able to check blockchain RNG validation once the gambling session is over.
Heavy gambling dapp competition is on the rise. What are you going to do about it?
It’s not a bad thing. Since transparent gambling is a totally new field which has never existed before, more teams will drive more attention from the ‘traditional gambling industry’ luring their client base to crypto gambling. Real competition is Betfair, Pokerstars and Fulltilt, etc.
Besides that, our RNG and dapp speed is way ahead than most of our competitors. You can try our competitor beta dapps and see that waiting RNG to roll for 2 minutes is simply not an option for mass adoption.
So, when are you launching? :)
As written on a white paper — Q3. We have everything ready, including heavily tested backend and smart-contracts for Blackjack and Dice.
The last missing piece is a casino license + RNG certification. We have already submitted our documents. Once we get a specific date from governmental authorities, we will add a countdown on our website.