Proof of Toss: New Generation Rates

garbuzyachakasha (26)in #ico • 6 years ago

Proof of Toss is a platform that focuses on providing betting services, which use Blockchain technology as the basis for its development. Proof of Toss provides users with a more relaxed and more user-friendly betting service. The proof of Toss will run using a decentralized system, which runs on a P2P network. Proof of Toss will be a solution related to the problems facing the betting industry today.

The people behind it claim that they will be seeking to create a completely decentralized betting platform that puts the power back in the hands of the people using it rather than the company running the entire thing. They also state that, in their opinion, there are a whole host of problems associated with the online better industry, and they feel that it is their task to get out there and modernize the approach and to build a different ecosystem that is fairer to everyone.

Benefits for Users

Transparency – with the help of the blockchain technology, this platform will be able to provide users the tool to monitor all transactions made.
Control Personal Funds with one Wallet – users will solely control their funds from one wallet to smart contract wallet and vice versa. All payments, withdrawals and deposit will be instant.
Wide Range of Opportunities – users have a choice to place a bet, create a Wager or be a DCJ judge. They can take one role at a time. But for token holders, multiple wallets can be created.
Users can be Operators – users can take the role of an operator when the amount required for the collateral for a wager has been met.
Irrevocable Transactions – any transaction that has already been written in the smart contract and been published in the blockchain is considered final and irreversible. This will increase the users’ accountability in the system.
Fair Results - internal distributed crowd judging mechanism will be utilized to get the most accurate results of any event.
No Termination of Service – due to the decentralized nature of funds ownership in the Proof of Toss platform, users will never lose their rights to access and interact within the system.
Equal Opportunities – different roles are available in the system for users to participate. Everyone will be treated equally since the platform does not store personal and financial data – meaning, no qualifications are considered to be able to place a bet.
Pseudonymity – Proof of Toss does not hold personal information of all users. KYC is only performed to verify users as per requirement of the regulatory bodies. After becoming a member of the community, proof of identity will no longer be required. The only time that a member will be providing his/her personal data is when purchasing and selling tokens to third party marketplace.
Faster Transactions – through the utilization of RSK’s smart contracts this platform is able to provide speeds of 400 transactions per second, eliminating delays on payments, deposits and withdrawals. And at the same time reducing costs.

Benefits for Bookmakers and Sportsbook Suppliers

Higher Profit Margin – with the full utilization of the Toss token within the platform, intermediaries are no longer needed for transaction handling, thus, eliminating high transaction costs.
Wider Market Coverage – since the platform is blockchain-based which is limitless and overly popular, opportunities to expand market share and reach a higher number of new users will be unimaginable.
Wider Scope of Events – due to the reduced transaction costs in creating an event within the platform, operators will be more confident to create any kind of events, big or small, without worrying about possible loss of profits.
Trust and Security – all business rules and workflows are embedded in smart contracts which makes the entire platform transparent and all transactions irreversible.
Better Odds – no commissions will be collected within the platform. This will enable operators to take full control of the odds they provide. To attract more players, they can offer better odds to all players without worrying about lower profit margins due to commission deductions.
No Chargebacks – since all transactions are irreversible and transparent for all, claims and chargebacks are not possible.
Higher Liquidity – all payments are sent directly to the wallet which will eliminate long processing time and would increase liquidity.
Boundless Accessibility – anyone holding the Toss tokens will have no restrictions in in accessing the platform.
Impressive Business Solutions – Proof of Toss will offer a free open-source solution for all joining bookmakers.

Users can directly view and track transactions that they make, so Proof of Toss runs transparently and is trusted by the user. In addition, the Proof of Toss will run using a decentralized system, which will be highly transparent and less fraudulent. The Proof of Toss also complains a token named TOSS, which can be used by the user to transact or trade on the exchange. By using this token, users can directly transact quickly and at no additional cost. Proof of Toss could provide better opportunities because the Proof of Toss does not require third-party costs and is lighter in the cost of the company. Proof of Toss also issued a digital wallet that can be used by users to store and send their digital assets quickly and safely. Proof of Toss will be a platform that provides users with a better and more secure betting service and becomes a solution to the problems facing the betting industry.

The Technical Aspect of Proof of Toss

With their aim of providing a decentralized betting platform, and one that is able to provide users with complete democracy, it does mean that they are going big on trust with this project. They will be using Ethereum as the base for their platform, which does provide a sense of security and stability thanks to the technology that is being put into place.

By using the blockchain, they are going to be able to provide their users with a number of key services that may make a difference when deciding as to whether or not they should go ahead with using this platform. However, the solutions that they offer include the likes of completely transparent transactions reducing fraud, instant payouts, and the use of Smart Contracts to formalize the transactions that take place on the blockchain.

With this, users can also become judges on the platform that determine the results of events that people have placed wagers on. Also, the judges can then earn money as a result of playing this role creating a winning situation for them without having to wager their own money.

Toss Token Details

Token: Toss
Price: 1 ETH = 10,000 Toss tokens
Soft Cap: 8,500 ETH
Hard Cap: 71,500 ETH
Platform: Ethereum
Minimum Investment: 0.071 ETH

For the ICO, they are only going to be accepting ETH, and there is also a minimum investment being put into place for you to take part. This minimum investment has been set at 0.071 ETH which is not a huge ask, so that should not really influence your decision as to whether or not you should invest as there are so many other options out there that certainly ask for more.