Blockchain Gaming Platform for Transparent Odds and Fair Payouts
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Solution Overview
Problem
Existing games of chance lack transparency and trust, leading to perceived bias and reduced participation, as well as a failure to incorporate recent technological advances for enhanced entertainment and social interaction.
Innovation Solution
A blockchain-based system for gaming that creates player profiles, receives gaming information, communicates odds, and documents player selections, winners, and transactions on a blockchain, ensuring transparency and fairness.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If traditional games of chance are used, then the games can be played with simple rules, but transparency and trust are lacking leading to perceived bias
Solution Approach 1:
The patent replaces traditional mechanical or centralized gaming systems with a blockchain-based system. The blockchain provides transparent, immutable recording of all gaming transactions and outcomes, eliminating perceived bias while maintaining game functionality. This substitution of the underlying system architecture achieves reliability improvement without requiring complex additional layers of verification.
Solution Approach 2:
The patent introduces a smart contract as an intermediary between players and the gaming system. The smart contract automatically executes game rules, manages wagers, and distributes payouts based on predefined conditions. This intermediary ensures fair play and transparency while simplifying the overall system operation by automating trust-based functions.
2Reliability
If blockchain technology is integrated into gaming systems, then transparency and trust are improved, but system complexity increases
Solution Approach 1:
The patent designs the blockchain integration to serve multiple functions simultaneously: recording transactions, verifying outcomes, managing wagers, and distributing payouts. By making the blockchain infrastructure multi-functional, the system achieves transparency improvements without proportionally increasing complexity, as a single technology layer handles multiple requirements.
3Adaptability or versatility
If traditional gaming platforms are used, then the platform structure is simple, but technological advances for enhanced entertainment and social interaction are not implemented
Solution Approach 1:
The patent implements a dynamic gaming platform that can adapt to different game types, social interaction modes, and entertainment features. The blockchain-based architecture provides the flexibility to incorporate new functionalities without restructuring the core system, enabling the platform to evolve and accommodate emerging technological advances while maintaining structural integrity.
Data Source
AI summary
A system, method, device, and platform for performing one or more games utilizing blockchain. A player profile is created in response to information received from a player. Gaming information is received from the player associated with the one or more games. Odds information for an event associated with he one or more games is communicated. Gaming information associated with the player profile is received for the one or more games. The gaming information includes at least selections made by the player and a wagered amount. One or more winners of the one or more games are compensated. The player profile, the gaming information, the selections, and the winners are documented utilizing blockchain