FunFair Coin (FUN) is the cryptocurrency of the FunFair platform. The platform offers the possibility to design and operate block-chain based games of chance.
FunFair currently has a market capitalisation of USD 98 million, of which USD 3 million is traded daily.
FunFair solves some of the problems that other gaming platforms face.
FunFair Coin – The Cryptocurrency
The cryptocurrency is used to finance the platform. It also functions like a casino chip.
Any player wishing to play online at a FunFair casino must purchase FunFair Coins to place a bet.
The prize will also be paid out in FunFair Coin. Developers are paid out in FunFair Coins.
Casino operators who offer to gamble via the FunFair platform can also finance this only via the coin. Players who recruit new players will receive coins as a reward for the affiliates.
Furthermore, the cryptocurrency functions as a means of payment for fees, whereby the coins are destroyed afterwards.
This has the advantage that the value of the existing coins increases.
FunFair – The Platform
The platform is based on the Ethereum blockchain and works with its own Fate Channel solution.
The Fate Channel is based on the idea of the State-Channel, which became known through the Lightning-Network of Bitcoin.
State-Channels have the function to verify payment transactions quickly.
Thereby, new monetary values can be signed by the provider and the user. FunFair uses the EthereumVM-capable blockchain for this purpose.
The state channel is nothing more than a smart contract that is constantly being updated and signed to confirm new emerging values on both sides.
FunFair programmed so-called Fate channels from the state channels. FunFair doesn’t want to tell you exactly what Fate channels are all about.
The company is merely saying that no one has to wait for blocks that still have to be mined.
Fate channels are one of the platform’s basics.
The FunFair platform is connected to the Fate channels and two other players.
On the one hand, with game developers who are paid in the cryptocurrency and deliver game content.
On the other hand, with license holders who have to pay a license fee in the cryptocurrency and receive white-label casinos for it.
The casinos can be designed according to your ideas. Licence holders, in turn, are connected to players and affiliates.
Players can bet with the cryptocurrency and are also paid in FunFair.
Affiliates attract new players, with a reward in FunFair for each referral.
Compared to other online casinos, including traditional casinos but also other block-chain casinos, the FunFair platform offers the advantage of being decentralised, allowing for a continuous gaming experience, transparent code, low operating costs and a great gaming experience for users.
Online casinos and blockchain casinos offer many a feature, but not all of them are combined in one platform.
The FunFair platform revolutionises online gaming. It advertises to be able to put your casino online with just a few clicks.
Other values that the platform represents are fairness, speed, security and efficiency. FunFair allows players to play their games or design their own online casino.
You can’t buy it directly for fiat on any exchange. You can choose the best bitcoin exchange for your region and buy BTC there, then trade it for FUN on exchanges. Learn here how you can instantly convert altcoins to bitcoin and vice versa.
Our recommendation is always check if Coinbase is available for your country and buy there – as it is by far the safest and best regulated bitcoin exchange. Coinbase is legit and safe cryptocurrency exchange.
If your country is not available on Coinbase – check for exchanges that are good Coinbase alternatives and buy BTC on one of those exchanges. You can always exchange your coins on Changelly (see our review of Changelly here), instantly and directly to BTC.
Best and safest option to store your coins is to download an official coin wallet and store it on a hardware wallet – our recommendation is just go and buy Ledger Nano S, it is the safest option.You can read our review of Ledger Nano S or check out other best hardware wallets here.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com