In the year 2008, Bitcoin was introduced by Satoshi Nakamoto in his endeavor to revolutionize the way transactions are carried out. Benefits like transparency, high-level control, security and freedom were added to the significance of this digital currency and soon it was embraced by the investors. This marked the commencement of the era of Blockchain technology. The technology mitigated conventional centralized network and paved the way for decentralized networks.
In the year 2013, the inception of Ethereum platform further strengthened the Blockchain technology. Vitalik Butarin was the man who launched the platform and took a stride to integrate smart contract to Blockchain protocols. So, the new protocols thus formed by the fusion of smart contract are termed as Utility Blockchain or Blockchain 2.0.
By 2017, the technology was popular among software developers but soon it attracted people associated with banking, financial institutions, etc and it also gained popularity among the investors. Thus, many blockchain projects starting coming into shape from 2017 onwards. Some of these include Tron, EOS, STEEM, etc. Furthermore, Blockchain Technology facilitated in the inception of the era of decentralized application or Dapps.
Dapps is making waves in almost every industry ranging from healthcare, insurance, real estate to gaming. The popularity of Dapps can be attributed to its advantages and its ability to work on peer-to-peer networks whereby users’ information won’t be under the control of any other entity. Dapps has the potential to capitalize on many industries including the gaming industry.
The gaming industry is on a rise in recent times. As per 10/2017 reports, over 2.3 million users are leveraging the services of the industry while generating yearly revenue of over 105 billion USD. However, the most common problem faced by the industry is related to the existence of game assets. This exposes the industry to fraudsters. So, Blockchain Technology can be exploited in the industry to reduce its exposure to the fraudsters. By integrating smart contract in the gaming industry, users get the assurance that game assets they’ll receive are authenticated.
Blockchain Technology affixes several advantages to the industry including the hassle-free exchange of in-game resources and assets. The introduction of tokens in the game can revolutionize the industry. Tokens serve as a virtual asset that can be purchased and sold on the decentralized trading platform. Clearly, there is a bright scope for gaming ecosystem built on Dapp. This led to the inception of Dabanking.
What is Dabanking?
Dabanking is a company that aims at offering services in the field of Dapp development and entertainment. The Dabanking platform aims to bring entertainment and financial resources at the disposal of people globally. The platform offers a transparent, secure and stable mode of entertainment along with value creation through financial resources. It aims at enhancing the gaming ecosystem on the decentralized app. The company uses Ethereum as its foundation platform. It uses DAB token as foundation token which will later be replaced by official blockchain of Dabanking after its announcement.
Dabanking creates an array of Dapps including lottery games such as Watch, Dice, FomoJackpot, Dual, etc. The platform will come up with many more games to cater to the demands of the community. It plans to launch new games in every quarter. The team of Dabanking has developed the core structure. They provide API to facilitate outside developers to design games on the operating system.
Dabanking uses the theory of POC (Proof of Contribution) protocol to facilitate token distribution. In this way, a fair and safe environment is created for the investors where they can trade with the token. It also promises an elevated value of DAB token.
In order to use Dabanking platform, users need to install Metamask Wallet or Trust Wallet on their mobile phones. The wallet should have Ethereum. Next, the users can visit the official website to leverage the services.
To learn more about Dabanking, follow the links below:
DAB Token Mining
Dabanking will build user community by exploiting Ethereum Blockchain whereby DAB tokens will be distributed based on POC protocols. Here, ETH will be locked into DAB token’s reserve funds. Initially, they’ll use DAB token which will later be swapped by the official Blockchain currency of Dabanking.
2 00,000,000 DAB or 200 million DAB token is the maximum value of tokens to be supplied in a smart contract. Users can acquire DAB through Mining Wallet. Users have to purchase a minimum ETH worth 200 USD of ‘Treasury Package’ to get started with DAB mining.
Users can get access to three types of energy wallets for DAB mining:
• Gold Wallet: On purchase of Treasury Package, 800% of its value will be added to the Gold Wallet. This value can be moved to Green Wallet by community development. On every referral, 50% of package value can be moved to Green Wallet.
• Green Wallet: 200% of the value of Treasury Package will be added to Green Wallet in the first purchase while 100% of package value will be added from second onwards.
• Mining Wallet: Mining Wallet is the wallet that can be used in actual token mining. It will receive a 0.5% value of Green Wallet each day till it receives 100% value of the Treasury Package. Then, the rate will decrease to 0.4% of Green Wallet each day till 400% value of Treasury Package is received. After which, the rate will further reduce to 0.3% each day. This will happen until the value of Green Wallet becomes 0.
In order to use DAB token, Mining Wallet is needed. Up to 400% value of Mining Wallet can be exploited to mine DAB tokens. The amount of Ethereum needed to buy Treasury Package is locked in the reserve funds.
Value of DAB token is reserved by smart contract and nobody can interfere with this ETH amount. Only after transferring the DAB token back to the smart contract, users can bring ETH out of reserve funds. However, this will be accompanied by the elimination of DAB tokens that are being circulated in the market.
Distribution plan for DAB token
• 90 % of the value is locked in the reserve fund
• 10% is extracted for the developers
3% is reserved for marketing
3% is reserved for product development
2% is reserved for partners
2% is reserved for DAB token (swap DAA)
DAA token mining
When users buy tickets and play games with Ethereum (ETH), they get DAA tokens. The maximum supply value of DAA token is 20,000,000 or 20 million USD.
The mining process has 10 stages with 10 round each making a total of 100 rounds. A maximum of 200,000 DAA tokens can be taken in each round. The users can win or lose a certain amount of ETH with each round and are also able to mine a certain amount of DAA.
DAA will feature in the exchange list so that developer Dabanking can swap DAA with DAB token with suitable rates at different point of time.
DAA token distribution
• 60% is reserved for miners
• 20% reserved for product development
• 10% reserved for marketing
• 10% reserved for the partners
All the DAA tokens will be in the token pool when the community will play games. 50% of DAA tokens will automatically be burnt in the token pool in every two weeks. While burning DAA tokens in the pool, DAA tokens in developer’s wallet will also burn at 60:40 rate i.e. with 6 tokens burnt in token pools, 4 tokens will burn in developer’s wallet.
Dabanking aims to bring entertainment at the disposal of users through decentralized applications (Dapp) platform. The team has divided its plan into two phases: Phase 1 and Phase 2
Q4 2018-Q1 2019: Creation of development team along with the development of plan and preparation of foundation technology.
Q2 2019: Introduction of the gaming ecosystem on Dapp and development of DAB token community.
Q3 2019: Listing DAA and DAB tokens on the exchange list and inception of new games.
Q4 2019: Addition of new games and enabling swap port from DAA to DAB.
Once the community of Dabanking crosses its 3 million users mark, they will introduce their own Blockchain and swap it with the DAB tokens
FOR MORE INFORMATION ABOUT DABANKING
ANN Thread: https://bitcointalk.org/index.php?topic=5146671.new#new
Bounty Thread: https://bitcointalk.org/index.php?topic=5158332.msg51597853#msg51597853
Bitcointalk Username: Rachchi
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