Frequently Asked Questions

Tournaments & Gaming  —  The Blockchain  


 

Tournaments & Gaming:

How is Peerplays different from other gaming platforms?

Does Peerplays have a “house” for me to bet against?

How are players protected against cheating?

Will Peerplays have casino games?

Will Peerplays allow sports betting?

What is the difference between on-chain and server hosted games?

Can I use Peerplays to play tournaments in League of Legends, Counter-Strike, Starcraft, Dota 2 or other MMO games?

I am a game designer –  can I integrate my games into Peerplays?

What are PowerUp Points?

What are Mega-Jackpot Tournaments?

 

The Blockchain:

Who controls the Peerplays Blockchain?

Is there “mining” in Peerplays?

Does Peerplays qualify as a “DAO”?

Is Peerplays the same as BitShares?

What is the purpose of Peerplays core tokens?

How does profit sharing work?

What are User-Issued Asset (UIA) tokens?

What are gateway assets?

What is the Peerplays decentralized asset exchange?

What are smart contracts and how does Peerplays use them?

How does the referral program work?

 

Tournaments & Gaming

 

How is Peerplays different from other gaming platforms?

On Peerplays, players can participate in tournaments which take place on the blockchain rather than on a centrally owned server, and wagering is done with tokens connected to the blockchain rather than funds held by a centralized gaming company. This means that players from anywhere in the world can use Peerplays without the major restrictions that often come with using traditional gaming platforms.

 

Does Peerplays have a “house” for me to bet against?

No. Peerplays is a peer-to-peer network that connects players together to play games against each other.

 

How are players protected against cheating?

Peerplays is open-source, which means that anyone who reads computer code can audit the all the games to verify that they function as described. Card games, for example, are organized on Peerplays through a series of programs that randomly seat players at tables, and use private key cryptography to keep cards “hidden” to everyone but the player who holds them. This prevents the network from cheating or manipulating its users, and also greatly reduces the risk of collusion between players at a table. To read more about provably fair gaming on peerplays, check out the Peerplays whitepaper.

 

Will Peerplays have casino games?

Yes. Peerplays can host multi-player casino card games “on-chain”. which means that gameplay and wagering is fully decentralized and fair without needing to trust a 3rd party. 

 

Will Peerplays allow sports betting?

Yes. Anyone in the world can bet on games or play in fantasy leagues on Peerplays, because all wagering, bookmaking and tournament brackets are hosted securely on the decentralized blockchain. The wagered funds are automatically distributed upon “settlement”, which happens when the official game results and statistics are published to the blockchain by decentralized oracles. 

 

What is the difference between on-chain and server hosted games?

On-chain games are built directly into the native blockchain code. They are provably fair and do not require any 3rd party service to play them. Peerplays on-chain games include casino card games and many 2 player head-to-head games.

Server hosted games will include graphics intensive games and popular eSports titles, and in fact any game in the world that is hosted on a server can be connected to Peerplays. The Peerplays tournament management software organizes players into brackets and processes payments and wagers, so game hosting websites can use Peerplays to eliminate most of the risks involved in operating a betting platform from their server.

 

Can I use Peerplays to play tournaments in League of Legends, Counter-Strike, Starcraft, Dota 2 or other MMO games?

Yes. Peerplays is working to establish partnerships with major gaming services to integrate their platforms and give their users the choice of wagering through Peerplays.

 

I am a game designer –  can I integrate my games into Peerplays?

Yes. Any game in the world can be integrated into Peerplays as a server hosted game. For on-chain games however, there are strict procedures, code testing and vetting processes in order to ensure that your game does not cause any damage to the rest of the blockchain.

 

What are PowerUp Points?

PowerUp is a crypto-token on the Peerplays blockchain which is automatically given to players in amounts based on their game scores, win-loss records, and other factors. PowerUp are required in order for players to register for Mega-Jackpot tournaments where they can win large jackpot prize pools that are sponsored by the network itself.

 

What are Mega-Jackpot Tournaments?

Peerplays users have the opportunity to compete for large prizes called MegaJackpots. These prize pools accumulate because a percentage of every network fee is sent by the blockchain into a Smart Contract-secured account called the MegaJackpot Fund. The Smart Contract then automatically schedules and hosts Megajackpot tournament events and distributes the funds from this account to the winners of the each tournament.

The Blockchain

 

Who controls the Peerplays Blockchain?

Peerplays uses a blockchain consensus technology called Graphene, which allows Peerplays core token holders to participate in the growth and maintenance of the network, while the code restricts the influence that any one member or group can have. There are three types of participants:

  • Voters – Anyone that holds Peerplays core tokens can use the power granted to them through those tokens to cast votes for the “Witnesses” and “Advisors” that they think would be best suited to work for Peerplays.
  • Witnesses – These are the network nodes that timestamp all updates to the global blockchain database. Their job is similar to that of “miners” in Bitcoin, only they must be voted into position by Peerplays core token holders. Like miners, they can only observe what happens on the Blockchain and notarize it – they do not have the ability to restrict or alter the content. They can also be removed instantly by voters if they are not performing up to standards.
  • Advisory Committee – A committee of technical advisors is voted into place, so that consensus can be reached on issues that involve updates to the parameters of the Peerplays Blockchain. Some examples include changes to the network fee structure, updates to the core blockchain code base, or adding new features to Peerplays after they are built. Like Witnesses, these advisors can also be fired if they are not performing to the liking of their constituents. 

Many organizations and individuals all share jurisdiction over the Peerplays blockchain, so it is impossible for any single entity to gain control over the database. Since Peerplays has a voting mechanism built into the code, any issue that requires consensus (like making updates to the code) can be resolved by polling the owners of the network itself – the core token holders.

 

Is there “mining” in Peerplays?

No. In order to facilitate real-time gameplay, Peerplays uses a next generation technology called Graphene, which allows for 3 second block production and up to 100,000 transactions per second. It is both the fastest and highest transaction capacity of any decentralized blockchain consensus mechanism available today.

 

Does Peerplays qualify as a “DAO”?

Yes. In fact the term DAO, which is short for “Decentralized Autonomous Organization”, was first coined by Daniel Larimer, the lead developer of Graphene – which is the technology behind Peerplays, as well as BitShares and STEEM. Back in 2011, he began using the analogy of the DAC or “Decentralized Autonomous Company” to describe a blockchain that functions as a crypto-equity, rather than a crypto-currency. He eventually created Graphene as the realization of this very idea.

As a Graphene-based blockchain, Peerplays allows the core token holders to vote and arrive at consensus (one share one vote), much like shareholders in a company or cooperative organization. Also, a percentage of every fee paid by Peerplays users is automatically distributed as profit sharing into the accounts of Peerplays core token holders, similar to the way a company would pay a stock dividend except that the process is fully automated and guaranteed by the blockchain.

 

Is Peerplays the same as BitShares?

No. Peerplays uses a modified version of Graphene, which is the same blockchain consensus technology that BitShares uses, but you wouldn’t say that Peerplays is the same as BitShares anymore than you might say that Namecoin is the same as Bitcoin because they both use the same mining algorithm.

 

What is the purpose of Peerplays core tokens?

Each core token has a weighted vote, allowing its holder to participate in the growth and maintenance of the network. Also, each core token represents a percentage of every fee collected from users of the network. These fees accumulate into a virtual account on the blockchain, and are distributed as profit sharing payments into the accounts of core token holders at regular intervals.

 

How does profit sharing work?

Like most online gaming platforms, the Peerplays network collects a small percentage of each jackpot, which is called the rake fee. These fees are automatically sent by the blockchain into a virtual account, where they accumulate until they reach a certain threshold or time interval. Then, they are automatically distributed to the accounts of Peerplays core token holders, according to the total percentage of core tokens belonging to each account.

 

What are User-Issued Asset (UIA) tokens?

Any player can create and issue their own cryptocurrency or crypto-asset tokens on Peerplays. They simply register the name of the token and the amount of tokens they wish to issue, and then they can charge a fee to other users who want to buy, sell, or transfer their token. These tokens can be used to represent whatever the creator desires.

 

What are gateway assets?

Gateway assets are UIA tokens which represent an item or currency which is held off chain by their creator (usually a trusted 3rd party). A Gateway service typically offers transfers into fiat currencies or other crypotcurrencies such as BTC, ETH or STEEM, but Peerplays users also have the unique opportunity to operate gateways for valuable “in-game” items, which are found in many MMO and RPG games.

Gateway assets on Peerplays can be used as wagers and buy-ins for tournaments or games, and can be freely traded for other assets on the Peerplays Decentralized Exchange. Peerplays offers a great opportunity for reputable businesses who wish to operate gateways and earn fees for their service. In fact, there are already a growing number of profitable businesses who operate both on-ramp and off-ramp gateways into the BitShares Decentralized Exchange, which is currently the largest Graphene-based blockchain ecosystem.

 

What is the Peerplays decentralized asset exchange?

Peerplays account holders can place buy orders and sell orders on-chain for the assets they hold. These orders are automatically matched and filled by smart contracts, which means a global orderbook is maintained on the Peerplays blockchain rather than a third party server. A fully operational example the decentralized orderbook technology enabled by Graphene can be found here.

 

What are smart contracts and how does Peerplays use them?

Smart Contracts are blockchain-based computer programs which contain a deposit address where users can send funds to be held in escrow until a certain outcome or condition has been met and verified. Peerplays uses smart contracts to hold players’ funds while they are playing in games or tournaments, and to determine who gets the jackpot after the tournament is over. Peerplays also uses a type of smart contract to match orders on the decentralized asset exchange, to handle the distribution of profit sharing payments, and to distribute PowerUp rewards tokens.

 

How does the referral program work?

Imagine if you refer a friend to open a bank account, and then for doing this you were automatically entitled to a percentage of every fee they paid the bank from that point forward. This is how the Peerplays account referral system is set up.

Each time a player registers a new account on Peerplays, someone must pay the initial account registration fee. This can be done through a faucet that is operated by an tournament hosting partner, or by any other Peerplays user. This means that each new account is tied directly to the account which paid the fee to register them. Peerplays then directs a percentage of every network fee paid by the new account from that point forward – every asset creation fee, rake fee, trading fee, etc., back into the account of the person who registered it. The remaining percentage then goes to the network to be paid out as profit sharing.

You can see a fully operational example of this referral program by registering a referral member account on BitShares at www.freedomledger.com, and then referring your friends to trade on the BitShares Decentralized Exchange.