Casinos have always been an attraction for people all over the world. The choice of decentralized casinos like JustBet has raised the bar for players as it provides an incomparable gaming experience. The user has the chance to initiate the betting through the native token of the platform, which is WINR. This casino works on a pre-built algorithm.
Decentralized casinos provide a type of safety that should never be compromised. This platform uses cryptographic hash features to confirm that players or game providers will not be able to cheat before the initiation of the game. The casino also uses a blockchain hash that provides the numbers in a random order.
The player can directly bet through the wallet and settle instantly at your address. The amount that the user bets on the platform will automatically be minted in native WINR tokens at a rate that is predefined by a smart contract for every period until the token reaches the maximum supply. Every wagered amount is converted into different WINR tokens. This is known as Proof-of-Wagering.
The platform is built on the Polygon Layer 2 Ethereum network and is aimed at providing a tamper-proof gaming experience. It provides betting directly through the wallets and no third party or KYC is needed.
The platform airdrops 64% of the gaming profits daily to the users who participate in staking the WINR tokens. Another 16% of the gaming profits are distributed through the weekly lucky draw lottery
How JustBet Games Work?
JustBet Games is a platform that offers in-game betting. The players can bet on the teams. The gamblers can bet on who will win, lose, or draw in the game. They can also bet on the number of goals the team will make or on the correct score of the game.
The list of games offered by JustBet includes soccer, basketball, cricket, track and field, golf, tennis, etc.
The platform provides a list of many games that users can play in a decentralized and autonomous environment. The list includes names like Moon, Dice, Slot Machine, Poker, Flip Coin, Keno, etc.
The platform works on a predefined algorithm that decides by calculating, picking, and settling on ideal and available operational decisions. Each game contract is associated with a router contract. The results of the game are played to trigger the feature of the win or lose.
Every game has spacing among the predetermined set of numbers. The protocol limits the number from 1 to 100 for dice. The transaction hash of each bet is stored on the blockchain. The protocol combines the block difficulty, block hash, and timespan. By combining them, the protocol gets a random number that is an integer. The output is the game result, which is a random number.
What Is WINR Token?
WINR token is the native token of the platform. The tokens are minted depending on the amount the user is gambling. There are nine rounds of minting and in every round, a minimum number of tokens are minted for the gameplay.
The minting of the WINR tokens is not linear but is on a standard logarithmic curve. This encourages the players to gamble more to win more, and then the curve slows down as the users are gambling more.
Current Analysis of JustBet Games and WINR Token
As per DappRadar, the total supply of the token is 229.24 Million. It has a fully diluted market cap of $18.4 Million. The circulating market cap of the token is $16.3 Million. The 24-hour volume of the token is $220.98K. The time high is $0.101 and the all-time low is $0.0134.
The data on DappRadar shows that JustBet has a unique active wallet of 78. It has made 801 transactions and has a volume of $126.45K. The platform has a balance of $3.35 Million.
The weekly chart of the WINR protocol shows that the current price of the token is $0.0711. The chart shows that on November 13th, the price was $0.0769. The price of the token was $0.0701 on November 14. On the 15th of November, the price of the token was $0.0788 and it changed to $0.0794 on the 19th of November.
If the seven-day chart of transactions and volume of JustBet games are observed, then it is found that the UAW on November 13 is 100, the transactions made are 165, and the volume is 195.11K. On November 15, UAW was 130, transactions were 612, and volume was $293.57K. The UAW was reduced to 93, transactions were 411 and volume was $97.76 K on November 17th. The value has changed to UAW is 69, transactions are 493, and volume is $122.22K on
Summary
JustBet is the platform that offers in-game betting. Gambling can be done based on the scores and results of the team. It is designed to provide a democratized gaming experience. The platform works on the Proof-of-Wagering model. The minted tokens are earned through each game transaction.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
Source: https://www.thecoinrepublic.com/2023/11/20/justbet-decentralized-gambling-platform-for-good-experience/