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Cryptonia Poker, an upcoming online poker platform, based on blockchain technology, is all about fair play, transparency and liquidity.
The company has been running Cryotonia Poker game rooms for a while to gain a proof-of concept, but now they are launching a cryptocurrency called Cryptonia as the official currency for playing online poker.
The currency is based on Etherum and allows smart-contracts. Thus, taking online poker to the next level, with its features like quick transfer of funds and anonymity of the users.
Their idea is to create an ecosystem, where the crypto currency will be listed on exchanges, and the holders of Cryptonia will see rise in the currency’s value, as more and more players demand Cryptonia.
They are undertaking an ICO or initial coin offering to make the tokens available to the users. The company is releasing total 1 Billion tokens known as Cryptonias. This currency will be listed on exchanges, so that players can easily purchase and exchange tokens from anywhere in the world.
The distribution of tokens will occur in the phases explained below.
ICOs and Distribution of Tokens
- The players and investors can buy 75% of the tokens in total
- Fifteen per cent are to be kept reserved for business promotions and for tournaments which will attract other players from all over the world to play online poker on the platform
- After the end of ICO, five percent will be reserved for the Exchanges, where the crypto currency will be listed
- The rest five per cent will be reserved for promoters, management and advisors for their contribution
Methods of Using and Transferring Cryptonia
The users can use Cryptonia to play poker online. The following steps show how the platform allows easy transfer of funds to play poker.
- Firstly, the player can add tokens known as Cryptonias from their personal currency wallet to their Cryptonia poker main wallet
- The transaction is updated in the platform’s server
- After completion of the transaction in a few seconds, an updated amount can be seen by the player in their main poker account
- The players can request to withdraw funds from their Cryptonia Poker main account, from any part of the world where Cryptonia currency is permissible
- After the request, the Cryptonia tokens from the main account are transferred to the user’s currency wallet in seconds
The crypto-currency based gaming rooms will be launched after the ICO that will occur in two phases—Pre-ICO and ICO – benefitting both players and investors.
Increase in Token’s Value
With an increase in the demand of the currency after the ICO and promotional tournaments, the interested online players will have to buy Cryptonia at the market price. Those who purchase Cryptonia during the ICOs will benefit later as the demand for the currency will rise and hence its value.
Thus, the exchange price will keep on increasing with a higher demand, enabling more and more players to join the online poker ecosystem and benefiting in long term.
Ensuring Fair Play and Random Number Generation
Despite having issues in the past with some online poker platforms, the market is still growing fast and attracting people from all over the world. Measures have been taken to overcome those issues and make poker rooms safe and secure.
Blockchain technology ensures fair play and transparency, and hence encourages more and more people to join.
To maintain liquidity in the game by encouraging leisure players, random numbers are generated using blockchain technology, which decentralises number generation and ensures fair play.
Cryptonia Poker’s blockchain technology and smart contract-based transactions help in avoiding delays in payment processing. As mentioned above, their tokens can be exchanged anytime and anywhere.
Also, one of the features that is attracting more and more players to Cryptonia Poker is maintenance of privacy of the players. No irrelevant data is collected during their registration process; hence, no risk is involved for the players regarding leaking of sensitive information.
Their ICO and platform is worth checking out for crypto currency and blockchain enthusiasts.