Lets Meet

Chips

About Chips

CHIPS is a decentralized adopatable gaming platform that meet the needs of any card game and predictable betting scenarios. The initial draft is written by jl777 is here. The underlying cryptocurrency this gaming platform uses is CHIPS and for real time betting and it uses CHIPS over Lightning-Network.

Chips is a direct fork of Bitcoin codebase which means it inherets all it’s latest features from Bitcoin, including features like segWit, Taproot and ligtning-network. The gaming protocol is referred as “Pangea Protocol”, and the full details of this protocol can be read in Pangea Protocol whitepaper

The code implimentation of Pangea Protocol is coded in a codebase called BET, which is written completely in C language by jl777 and sg777 who are the main core developers of the idea to implimentation of Pangea Protocol.

Pangea poker is one of these games. Pangea poker is a project that will revolutionize poker to be truly decentralized.

CHIPS uses the Lightning Network in order to settle transactions off-chain. This is useful in poker, where each bet is a mini-transaction from player to pot. It is unneccessary to record this transaction in a blockchain, but with the Lightning Network being able to record this in so-called payment channels, a lot of (probably unlimited) transactions between players and a poker pot can happen before the end result of one playing hand is recorded on the blockchain.

Since CHIPS is a bitcoin fork and is the first cryptocurrency not to use an Ethereum contract for decentralised poker gameing. This is an improvement, since the rising EtherGas price will make playing poker more expensive with the influx of new players on Ethernet contracts powered poker games.

In short:
  • Lightning Network enabled
  • Microtransactions – used for betting or any other micro-transaction application
  • Will be used widely in betting platforms within the Komodo Ecosystem
  • Will be the only currency supported in Komodo Platform’s Pangea Poker
  • Can be integrated into any other gaming system such as online casinos, betting, or incentivized gaming of any type
  • Proof of Work
  • 10 second block time
  • SHA-256 algorithm since CHIPS is almost a pure BTC fork.
  • Explorer: http://explorer.chips.cash/
  • Since CHIPS uses a 10 second block time, total CHIPS supply has already been mined which is 21,000,000 (21 million CHIPS). To prevent CHIPS from being vulnerable to attacks due to low hashing power, CHIPS uses delayed Proof of Work (dPoW) service from Komodo Platform to ensure the security of the CHIPS chain.
  • And since all supply has already been mined, to secure itself from extream difficulty hash attacks (Difficulty Bomb), CHIPS also utilises Adaptive Proof of Work (aPoW) feature.
image

Next Case

Hempcoin