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WHITEPAPER

INTRODUCTION

Joicoin is a blockchain-based game platform company located in the Silicon Valley. 

With the recent boom in cryptocurrencies like Bitcoin and Ethereum, We developed a keen interest in the blockchain technology underlying those digital currencies and developed JOICOIN to merge his interest in gaming with blockchain technology and encourage fair, free-market economic liberty. 

To achieve the asserted goals of cryptocurrencies:

  1. Economic mobility must be protected. Currency participation must be possible not only for certain demographics, but a plurality of people. 

  2. Cryptocurrencies must be used not as a store of value, or an investment vehicle, but as a freely exchanged currency. 

  3. Currencies must be scalable. To do this, a platform to encourage mass cryptocurrency adoption must exist. Only on such a platform can a shared economy amongst developers, businesspeople, and users be realized through profit maximization.

  4. Developers should not try to create profits through cryptocurrencies themselves. Cryptocurrencies must belong to everyone. Developers must distribute cryptocurrencies fairly and must generate revenue in a manner acceptable to stakeholders.

JOICOIN uses games as a platform to satisfy this rubric. Gameplay mines JOICOIN through proof-of-leisure. Anyone can play and winners and losers are determined by a fair set of game rules which deposits Joicoins to the winner’s wallet. Unlike other cryptocurrencies, winners and losers are decided not by sheer processing power but by a user’s proficiency at the game. Thus, the first objective of JOICOIN is to fairly distribute and share wealth amongst its users through leisure.

Users do not need cash deposits to begin the game because if deposits are required to play, the success of JOICOIN becomes a metric of cash gambled, not of leisure/gameplay hours. 

The user earns Joicoins through gameplay. There is no racial or national prejudice. Through this procedure, JOICOIN can reach profitability and expand the JOICOIN community. If JOICOIN transactions increase, JOICOIN can organically evolve into a payment method. It will initially be used within the gaming/gaming adjacent industries then expand as a payment method in other fields. This is JOICOIN’s second objective.  

Many issues arise when cryptocurrencies become primary subjects of profit generation. Participants can experience a moral anxiety when this occurs because they participate in a marketplace where collusion between artificial market manipulators, massive mining companies, and well-endowed capital may exist. JOICOIN is only a platform operated by the Joicoin Organization. 

Game developers who participate in initial game offerings may share in the profits raised by ad revenue and JOICOIN fees through a fair distribution system. Users enjoy the game and earn JOICOINS through gameplay. Platform managers and game developers are all winners under this regime, one where a shared mass economy can be cultivated. This is JOICOIN’s final objective. 

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HOW IT WORKS

The JOICOIN coin is mined through games - the game itself is what confirms transactions and is the sole means through which the coin can be mined. At the end of each game, the winner is awarded with the coins that have been mined during that session. The game requires no intense processing ability and no large expenses on electricity, leveling the playing field for all users who desire to be part of the ecosystem. What results is a cryptocurrency based on a democratic community, one that holds proportionately greater rewards for those who contribute most to the JOICOIN community, rather than those with the bankroll to create the longest proof of work.

FEATURES

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Equity, of course, is the most emphasized feature of JOICOIN. Each player in an JOICOIN game is an equal-opportunity miner; that is, each individual has the same chance of mining a single JOICOIN coin. This is in stark contrast with existing forms of cryptocurrency.

The mining process for most coins today rely on authentication chains called "proofs of work", and the mined coin is awarded to a single individual with the longest proof of work. Creating proofs of work require immense amounts of electricity and processing power, both of which require money on the part of the miner. Thus, it follows that in traditional mining processes the majority of mined coins are provided to those who can afford the high costs of mining - the wealthy. This results in the centralization of coins in digital currency which, by design and intent, is opposed to such control.

JOICOIN replaces this process with a PvP model of coin mining that awards mined coins to the victor of a particular match. There is no way to pay-to-win model. The only way for users to accumulate more coins than others in the JOICOIN community would be to invest further time in games, providing incentive for other users to also contribute to the mining of JOICOIN. This removes external factors, like the wealth/status of a user, that would otherwise unfairly influence the distribution of mined coins in traditional mining processes, incentivizing users to actively contribute to the JOICOIN community.

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Transaction speed is important for adoption as an alternative to fiat currency. It is a requirement for mass employment, and the reason we are paying restaurants with few - if any - digital coins today, despite the fact that the incredibly high value of even a single coin. Other coins have sought to fix this issue by increasing the size of the blocks in their blockchain, but they come at the cost of a pre-mined currency that ignores the equity of coin distribution.
JOICOIN combines the best of both systems, providing an unmined currency to ensure impartiality while maintaining the large block sizes that allow for expedient transactions.

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All transactions made in the JOICOIN community are guaranteed to be 100% secure. This is achieved through blockchain technology used by all cryptocurrencies in the market, the decentralized nature of which prevents the single points of failure that are problematic of the current state of banking. Hacking into the JOICOIN ecosystem would require the infiltration of data hosted on each and every user's accounts simultaneously, which would require so much power that cryptocurrencies built on blockchain platforms are virtually impervious to security breaches.

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An additional benefit of the equity JOICOIN ensures is the productive application of energy and processing power. The majority of current mining processes award a single winner: the individual with the longest proof of work. This means that the hundreds - even thousands - of other users who were applying their processing power toward the mining of that particular block end up squandering immense amounts of power with absolutely no benefit.
By contrast, JOICOIN employs a system of "proof of person". Every player on the JOICOIN platform is contributing their processing power to a productive purpose in the mining of coins, the effect of which is only amplified when the number of users in the ecosystem increases. While traditional forms of cryptocurrency become less and less productive as the number of users mining a single block increases, JOICOIN uses that community of users to contribute to the distributed increased production of coin.

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Community lies at the heart of JOICOIN. As we strive to remain true to the democratic values cryptocurrency was formed under, the evolution of the platform's software will be dictated by the users alone. User consensus will not only be considered; it will provide the entire basis from which decisions about the coin's future will be made, providing each user with the autonomy to create real change in the community they make up.

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JOICOIN isn't just a coin - it's a platform that seeks to legitimize crypto by bridging the perceived gap between crypto and fiat currencies. Opening up JOICOIN as a currency system that can be adopted by gaming platforms as in-game currencies is our first step towards fulfilling that commitment.

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The backend of JOICOIN will be implemented in a cloud infrastructure, implementing a redundant, scalable core with secure transactions. Transactions will be secure in several ways. All communications will be: Encrypted so that they cannot be changed or viewed by external parties.
Stamped and encoded so that they cannot be captured and replayed.
Queued so that no transmissions will be lost in the event of a transactor failure or network instability.
Performance and health statistics will be rendered and recorded as time-series metrics and the use of logs for the purposes of monitoring will be minimised. (possibly a Lambda architecture)
Because of the number of transactions that is expected to be generated, a big data store may replace a traditional database for queryable data, with memory caching used to improve speed.

RESEARCH

  • Sparcade
    https://gsngames.com/games/

    http://abc7news.com/technology/sparcade-app-allows-you-to-game-for-money/1647079/

    https://tetris.com/article/16/sparcade-launches-on-the-ios-app-store-play-for-free-or-real-money

    https://twitter.com/playsparcade
    Chuck Chomp @chuck_chomp
    3 Jun 2017
    @PlaySparcade No way am I playing for money when your iOS app crashes every other game. #sparcade

    https://finance.yahoo.com/news/sparcade-launches-ios-app-store-150000410.html
    Players can compete for free in Token matches to sharpen their skills, and then join real-money matches when they're ready. To level the playing field, each player competes against opponents of a similar skill level and is given the same exact game board, turns and time limits. Wrapped around Sparcade is a trusted, social community framework in which players climb the ranks, accomplish goals, earn achievements and amass Fame on the way to becoming a Sparcade legend.

    https://venturebeat.com/2016/06/08/gsns-sparcade-lets-you-play-classic-arcade-games-like-pac-man-on-mobile-for-real-money/
    GSN figures that this kind of skill-based gaming, where you can wager some money against a friend in a duel, is legal in about 40 states. Fanduel and Draftkings thought they had that right as well, but a bunch of states came after the fantasy sports companies and classified them as illegal gambling. But GSN believes that the games it is using are clearly games of skill.
    Canessa said that the service will change over time and add more games and more tournaments. The games take three to five minutes to play, and the play is asynchronous, where players are matched and play the same game separately, and potentially at different times. The matchmaking puts players with similar abilities together.
    "We've got a compelling vision, led with big brands, for games that people already know how to play," Canessa said. "This is about creating a platform and an ecosystem."

    You can pay cash entry fees for tournaments. You may bet $1, and the winner collects $2, less a fee for GSN. The fee isn't set yet. GSN has operated skill games like this for 15 years, but Canessa believes this is a reinvention of skill games based on the properties involved.
    "This about skill, not gambling, just like golf is a game of skill," Canessa said. "The app stores didn't embrace this in the past because they didn't understand it. Now they are behind it. We have met with Apple for over two years and they have been aware of it every step of the way."

    http://www.adweek.com/digital/gsn-games-sparcade-lets-you-compete-for-real-money-on-ios/
    Players receive 10,000 Tokens to begin, and they can add their own real money to the app via credit card or PayPal. Additional Tokens cannot be purchased. The entry fees for real-money matches start at $1, and users can withdraw money from their in-game accounts at any time. Players in the U.S. can see whether their states allow real-money gaming in Sparcade here.
    In each game, the player is matched up with other players of a similar skill level, and every player receives the same game setup to keep things fair. For instance, in Wheel of Fortune, all players will work to solve the same puzzles, and they will each receive the same dollar amount on each "spin." All users will also play for the same amount of money in the bonus round. In this way, the outcome of each match will be determined by the skills and choices of the players, rather than by luck. Matches are asynchronous, so players may need to wait for other players to finish to receive any rewards.
    https://tetris.com/article/16/sparcade-launches-on-the-ios-app-store-play-for-free-or-real-money

    WorldWinner
    https://www.worldwinner.com/

    https://www.worldwinner.com/cgi/about/WhatAreCompetitions.html
    What Are Tournaments? A Whole New Way to Play!
    The key ingredient that makes our games different from other online offerings is your own ability! We provide "skill-based" competitions with a FairMatching System specifically designed to eliminate elements of luck from the outcome.
    We ensure that each game you play is equally as challenging as the one played by your opponent, so all you need to do is have fun!
    1) Pick a Game
    Choose one of our popular game titles and scroll down to try your hand at a Warm-Up game - it's a great way to train for the bigger tournaments ahead!
    Hint: Click on the game rules link at the top of the page to learn how to maximize your score!
    2) Get Matched
    Our FairMatching System chooses an opponent for you based on a combination of factors, including your skill level and game history, providing you with just the right amount of competition!
    3) And the Winner is..!
    Once you've finished playing, you'll land on the Tournament Results page, where you'll see every contestant's final score!
    Remember that your opponent may not play at the exact same time as you, so try a few new games while waiting for results. You can easily check your status on the "My Competitions" Page!

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