MECA Casino: Bringing Transparency to the Gaming Industry
Originally published on: CCN
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August 14, 2018
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The gaming industry first took flight several decades ago, with casinos being established at numerous tourist locations around the world. More recently though, with the advent of the internet, the online casino market has grown rapidly. This, however, has made casinos become increasingly difficult to trust for the common user. With no way to check how electronic games work, users are left to simply hope that game results are fair and payouts are reliable. However, MECA Casino believes it has the solution. Its new blockchain-based platform is poised to entirely transform the landscape of online gaming and raffle.
One of the first problems that MECA Casino identified early on was credibility. As online gambling websites are relatively obscure and backed by anonymous individuals, there is no way for players to know whether or not the games they are playing are free of bias. With blockchain technology, however, the company can introduce transparency and trust to online games. The decentralized nature of the platform means that players can easily verify and audit results themselves at any time.
Technically speaking, the MECA Casino platform is a decentralized application built on top of the ICON blockchain. The developers chose ICON over its competitors like Ethereum because it was the best fit in terms of transactional speed, reliability, and transparency. This allows the developers to “generate random, confirmable results and smart contracts to ensure accurate payouts.”
The platform is capable of supporting individually-owned casinos and related assets. Those looking to provide games as a service can purchase the rights to such a casino and then earn revenue whenever users play games there. Individuals in charge of a particular casino function similar to a ‘house’ in traditional gaming nomenclature, but do not have any say in the fairness of the game. These ‘Casino Masters’ then have the right to trade casinos through smart contracts. Furthermore, they will be able to control the decor and interior layout, that will potentially lure more players to their specific casino
In addition to the quality of life improvements to online gambling, the company is also proposing a drastic reduction in service fees charged to the end user. It plans to do this by introducing a cryptocurrency named MECA Coin (MCA) and charging a house edge that is a mere one-tenth of the industry average. These MCA tokens are scheduled to be sold in two fundraising rounds, public and private. While the latter is expected to run sometime this month (August 2018), there has been no set date for the public sale yet. A total of 2 billion MCA tokens will be offered across both fundraising events.
The company is not only focusing on making games fair and transparent though. A key factor is making the games and environment high-quality and fun, not just gambling. These games are being developed with HTML5 and can potentially run on any device with a modern web browser. Development is well underway, with several seven complete titles at the time of writing. “Our classic table games include Blackjack, Texas Holdem; and Baccarat. We have several slot machine games with cutting-edge graphics and a variety of themes, such as outer space and Greek mythology. Our games are an enhanced version of the real casino experience.”Furthermore, in 2019 MECA Casino will also offer a sports betting platform.
So far, the MECA Casino team is aiming for a platform release in the third quarter of 2019 with a variety of games available immediately at launch. Development will continue on the project and within three to five years, many more ‘high-quality games’ will also be made available. For this, it is co-developing games with ME2ON, a South Korean game developer, significantly adding to the workforce and experience pool to accomplish these ambitious goals.