FunFair has been up to a lot of things, and thus, the post made a few months ago is quite outdated. I’ve written this just to keep the subreddit updated, and to have a nicely formatted post full of information regarding FunFair for both newcomers and “veterans”. This post will be updated more often than not, and when the time comes for a new one again, it shall be written! Cheers.
What is FunFair?
FunFair is a decentralized gaming technology platform which uses the Ethereum blockchain, smart contracts, and proprietary state channels (Fate Channels) to deliver casino solutions with state of the art games that are fast, fun, and fair.
FunFair is not a casino. Instead, FunFair will license its technology out to casino operators. Being a casino carries with it risks and burdens stemming from statutory and regulatory hurdles. Being a licensing entity instead, provides legal safeguards and will enable a more widely used platform.
Why was FunFair created?
There are many costs, headaches, and complications with online casinos. Briefly, they are the fees associated with operations (servers, infrastructure, large employee-base, fraudulent activity investigations, chargebacks) etc. Attracting players and gaining their trust comes afterwards, which is another issue within itself. There is a blatant trust issue with conventional online gaming that FunFair aims to diminish, while creating a seamless experience for both operator and player.
The Market.
Online gambling is a large market: Currently over 47.1 billion dollars in market volume and projected to continue increasing quite exponentially. FunFair is also attempting to capture a new market of casino operators and players that aren’t currently factored into this estimate.
The Team.
The FunFair team consists of 40+ developers, industry executives, and professionals. They have one of the largest teams in cryptocurrency. Feel free to check them out on their website:
https://funfair.io/how-it-works/our-team/ Notably, the first five employee profiles presented on the website are:
Jez San OBE, Founder, CEO Jez San is a British technology entrepreneur and investor whose pioneering work in the field of real time 3D computer graphics led to being awarded the OBE for services to the computer games industry.
Jez founded Argonaut Software in his teens and designed the first chip used to power 3D games including multi-million-selling Star Fox, Harry Potter and Croc. He also founded 3D online poker room PKR and microprocessor developer Arc International.
Since 2013 Jez has been an active investor in the blockchain and cryptocurrency sector. His investments include Google’s DeepMind and online cryptocurrency exchange Kraken.
Jeremy Longley, Founder, CTO Over 15 years’ experience managing technology teams – from the development of advanced video-game software through to the deployment and operation of enterprise-scale infrastructure.
Oliver Hopton, Founder, Developer Oliver Hopton is an experience developer and team lead with over 15 years experience building gaming products. He spent 10 years working at online poker room PKR as Software Development Manager working on a huge variety of administration tools and integrations with 3rd party gaming content and providers. Heavily involved in technical compliance for gaming license applications in Guernsey, the UK, France, Italy and Denmark.
He then spent 18 months as CTO of EveryFan, responsible for architecting and building a UK facing sports betting product.
David Greyling, COO David has more than 20 years’ experience in E-Commerce related organisations. In his role as COO, David is responsible for leading the business development, strategy, operations, finance and corporate functions.
With extensive leadership experience in Digital marketing and E-commerce international companies, David specialises in leading business integration and transformation programmes.
Prior to his current position David was Director of International for William Hill PLC, reporting to the board on market expansion, regulation and strategic change management programs.
Stefan Kovach, Business Strategy and Marketing Consultant Stef is an industry executive with with a wealth of experience, having headed up the marketing functions of both PokerStars and bwin.party - two of the biggest brands in online gambling.
Career Opportunities
Further, FunFair is looking to expand – and fast. They expect to have a team of 50+ people in the not-so-distant future, as they are currently hiring developers, business and marketing professionals, and so forth. So, if you’re looking for an opportunity to showcase your expertise in these fields, try your shot at securing a position within the company! (
https://www.funfair.io/careers) The FunFair team’s base of operations is in London, UK.
Some of the positions currently offered in the United Kingdom, England, London:
- C#/Javascript Developer
- C#/Javascript Developer - Domain
- C#/Javascript Developer - KYC
- Community Manager
- Senior Business Analyst
- UI Developer
- Senior Developer - Typescript
- VP Product Owner
When did they start the project?
Technically, FunFair started on June 22nd, 2017, because all FUN tokens that will ever exist were created on this day. However, the idea, technology, and product were being developed before the ICO started.
What have they accomplished to date?
FunFair have accomplished a lot since their inception- consistently updating development, business operations, and hiring many new staff. From Sponsoring DevCon 3, receiving awards from the Malta Gaming Awards, excellent showcase updates, and launching their product to the gaming industry at the International Casino Exhibition which boasted over 30,000 industry attendees, they have been on track to their public release. With the release of the closed beta right around the corner, the future is bright for FunFair.
Ok, so what is the technology? What are they developing?
FunFair is building their decentralized platform and protocol on top of Ethereum’s blockchain. FunFair is developing the game technology, and their proprietary, advanced state channel technology which they call Fate Channels. The platform that FunFair has created and continues to develop, will allow anyone to run a casino in just a few clicks, allow third party developers to distribute and integrate their own games to a new, global audience, while creating the ultimate casino experience for end users.
Fate Channels are FunFair’s custom, proprietary version of State Channels. They are superior technology to current State Channels, as they are what support the communication during game sessions between player and casino, while executing entire game logic and random number generation off-chain. They provide a fast, low cost method for RNG, starting game sessions, ending them, and settling with smart contracts on the blockchain. There is only one gas fee needed to start the game session, which solves scalability issues with platforms like Ethereum.
For an in-depth explanation that you won’t be disappointed in reading, please refer to the technical white paper here:
https://funfair.io/wp-content/uploads/FunFair-Technical-White-Paper.pdf What really happens in the Fate Channels?
FunFair’s random number generation is executed within the Fate Channel, and is a commit/reveal scheme that makes it provably fair. There are also a hash chain to prove that the overall sequence is indeed fair.
A player enters a FunFair-powered casino with some FUN tokens in their wallet, and then both the casino and player send FUN tokens from each of their personal wallets into a smart contract which then holds the FUN in escrow via the Fate Channels (off-chain) until the player cashes out/closes the channel.
The player and casino swap random seeds that they have generated locally, and these are then hashed numerous times by both parties in private. The sequence of hashes are stored locally by each party. There could be thousands of hashes, which become the random numbers, and are passed one by one, in reverse order, by the casino to the player and vice versa when the game needs randomness. Since the hashes are in reverse order, a new hash will always hash into the previous one, so that it can be verified that it’s the correct value of the next hash. The first hash is committed in the state channel on the blockchain as it was opened, and this is what will be used later to reveal that the random number generation was correct.
The position that a ball lands on in a roulette spin, for example, is computed this way. The two hashes provided by both player and casino are combined into a random number that neither side could have predicted. It’s provably fair because because it can be shown that they come from the same hash chain in the correct sequence, and it can be shown after the game session is over, using the reveal to show the seed was in fact, committed to the blockchain in advance of the games played.
The random number generation scheme works extremely fast, and is not dependent and waiting on the blockchain for verification every time, yet it is provably fair in both randomness and sequence. It is easy to detect cheating by either side (for instance, the random number generations would go out of sequence). The security of the hash chain is what makes the randomness unpredictable. If it is possible to reverse a hash, you could predict the random number generation. FunFair uses SHA-3 for hash generation, which has not been reversed yet, and is likely to last in strength for some decades.
The platform.
FunFair presents its casino operators and players with a gaming opportunity never seen before:
- Decentralized, essentially serverless
- Provably fair, blockchain-based
- Trust-less outcomes that can be witnessed on verifiable smart contracts
- Instant cashouts - casinos do not hold your funds
- Accessible through web browser on desktop or mobile
- Fun games with an exciting user interface
- Casinos feel safer, with no risk of fraudulent charge-backs from player credit cards
- Fast gameplay conducted through Fate Channels – the team’s custom version of State Channels.
- FunFair is preparing for mass adoption and has a working solution for Ethereum network congestion.
The games.
FunFair is pursuing a full suite of traditional casino games:
- Blackjack
- Baccarat
- Craps
- Roulette
- Slot machines (many variations)
- Let It Ride
- Caribbean Stud
- 5-card Poker
- 3-card Poker
- Many more to come
You can test all of these games, right now at
https://showcase.funfair.io . Some are currently testable on the Ethereum test networks.
Regarding mobile functionality: A number of mobile dapp browsers are being built (ciphestatus) – FunFair support these. Their games are built with technology that works in mobile browsers.
FunFair is one of the only projects in the cryptocurrency space that has a working product. FunFair’s vision for the future- an updated roadmap for 2018:
FunFair’s writeup of the updated roadmap can be found here:
https://funfair.io/updated-funfair-roadmap-explained/ The roadmap can be found here:
https://funfair.io/latest/roadmap/ Q1: In January, the team submitted to the UK Gambling Commission their application for a Remote Gambling Software License.
February 6th-8th,
Official launch into the gaming industry at the ICE (International Casino Exhibition).
Read FunFair’s written re-cap here: https://funfair.io/ice-2018-round/
Watch FunFair’s video round up here: https://www.youtube.com/watch?v=zEjC3_5Q5jA
March 8th-10th,
EthCC Conference.
FunFair CEO Jez San gives a presentation on FunFair platform and protocol to Ethereum community in Paris.
Watch the video here: https://www.youtube.com/watch?v=irpu2iHDiK0
Q2 Goals:
- Live Beta on main network.
- Announce and start integration of first 3rd party games developer.
- Further license applications.
- If Beta proves successful, look to go live with first operator.
- Continue to attract & retain blockchain talent.
- Continue to build FunFair brand.
April 2018
- V1 product enhancements and initial stage of Go-Live readiness.
- Announce 3rd party game development partner.
- Further production quality games released.
May 2018
- V1 completes and closed Beta launches
May 15th - 17th,
G2E Asia - launch FunFair brand to Asian gaming market
Website: https://www.g2easia.com/
May 16th - 17th
Consensus and Token Summit in New York
Networking and updating community
Website: http://tokensummit.com/
May 23rd - 24th
Disruptive Online Gambling conference (London)
Exposure to UK gambling industry
Website: http://www.arena-international.com/gambling/
Q3 Goals:
- Continue roll out of early operators
- Learn, iterate and improve partner integration process
- Drive further product improvements & platform features
Q4 and beyond:
- Go live with first 3rd party games content
- Continue to build FunFair brand
Some Information Regarding Casino Operators:
Casino operators will save significant money on hardware, chargebacks, and operational headcount. The number of physical servers required is reduced as gameplay executes in immutable smart contracts deployed to the ethereum network.
An operator will, at all times, require a reserve of FUN tokens to ensure they are able to accept bets, and cover their liabilities. If, after a period of time, they wish to convert some of their FUN token balance they will have a number of market exchanges which are capable of facilitating this type of transaction.
FunFair is working on the many customization options right now and up until release. You will definitely be able to customize the look and feel. You can add your own graphics, logos, colour schemes, etc. You will also be able to choose which kinds of games are offered, and how they will be laid out.
FunFair fully supports KYC. They’ve built their own KYC technology that’s crypto-friendly. FunFair’s tech will allow each operator to have their own policies on who they exclude and whether they require KYC/AML etc.
A reminder, FunFair isn’t an operator, it’s a technology that operators use, and some will be in countries where they need to do KYC/AML and some will be in countries where they don’t. FunFair’s tech works for all cases and will support the full strength KYC if that operator requires it.
Lots of information can also be found on the website. Here are some excellent links: The Past, Present, and Future of FunFair..
FunFair has been consistently networking, and the team have been continually attending blockchain conferences and events. From launching their product to the gaming industry at the International Casino Exhibition in early February, launching their product to the Asian market at G2E Asia, and just recently announcing their
industry first game development partner; Spike Games, FunFair is advancing very well, on track and ready for industry disruption.
For questions that you may have think I've missed, please refer to this updated FAQ on the FunFair website: https://funfair.io/frequently-asked-questions/#the-fun-token TL;DR - Read
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