Proof Of Toss aims to revolutionize the betting industry with its decentralized betting ecosystem. This ecosystem revolves around Proof of Toss’s cryptocurrency, TOSS token, and it allows people to create wagers, bet, and judge. People can win tokens by participating in the platform.
Proof of Toss claims that its distinguishing feature is that they also cater to the existing Bookmakers as well as the ‘other’ players of the betting industry. What it aims to do is to provide a solution that will serve as a gateway to the world of blockchain and virtual currencies and, therefore, improve the betting experience of users and also enhance the service provider’s profit margins and market coverage.
The Proof of Toss platform is based on the blockchain technology. It aims to provide flexibility, reliability, trust, and decentralization to the entire gambling business. They have also chosen RSK’s open-source smart contracts platform to ensure that their ecosystem is scalable, functions smoothly and also retains all the fundamental principles of the blockchain technology. RSK, a sidechain of Bitcoin, provides a high level of security by merge-mining that prevents the problems of double spending. RSK can scale up to 400 transactions per second creating blocks at 10 seconds average interval.
So, to summarize, PROOF OF TOSS is a platform for betting that performs the dual functions of a peer-to-peer platform and an open source solution for professional bookmakers, sportsbook providers, and operators.
The solutions that this platform seeks to provide are:
Overcoming long verification processes
Addressing the lack of control over personal funds
Sidelining the long verification processes
Checking fraudulent activities and the lack of trust
TOSS is the utility token of the platform, and it can be used to create wagers, place bets and also vote on results. About 1 billion tokens will be released. However, all the tokens will only be issued after the token sale and in accordance with the total purchase amount. However, just those people who comply with Proof of Toss’s terms and conditions and passes the KYC check will be able to purchase the TOSS tokens. The tokens will be released through an ERC20 smart contract.
Proof of Toss wants to decentralize betting by means of a blockchain-based platform. The platform will allow for:
Crowd betting wisdom
Smart contract-based transactions
There will be 1,000,000,000 tokens up for sale. However, in case hard cap is reached, the minimum token emission will be 1021428571 tokens.
70% of the tokens will be kept for sale. 46,500 ETH worth of tokens will be sold in the main sale while 25000 tokens will be sold in the pre-sale. The rest 30% will be distributed in the following manner: 2% for bounty, 21% for funds, 6% for the team and 1% for the whitelist.
PROOF OF TOSS is operational in the United States.
The soft cap of this project is 8,500 ETH while the hard cap is 71,500 ETH.
CEO: Dmitry Starostenkov
Founder: Azamat Akylov
CTO: Eugene Pavlenko
For further details on the team, please visit https://icobench.com/ico/toss.
To check out the whitepaper, please visit: https://toss.pro/wp-content/uploads/2018/02/White_Paper_PROOF-OF-TOSS-WHITEPAPER.pdf
Social media presence:
Proof of Toss has a big team that is experienced in the blockchain industry and especially in the gaming industry. However, they may require taking some other advisors on board. They also do not have any MVP. Nevertheless, they have a clear vision and only time will tell whether they can deliver on their promises or not.