FunFair Coin (FUN) is the cryptocurrency of the FunFair Platform. The platform offers the possibility to Design and operates block-chain-based games of chance. The goal of FunFair is to license its gaming platform to Casino operators and other organizations dealing with gambling.^[1][2]

Overview

FunFair by Ethereum smart contracts is a decentralized gaming Platform. The platform is the first of its type, having solved some of the main challenges that make other blockchain casinos less secure. The objective of FunFair is to license its gaming platform to casino operators and other organizations dealing with gambling.^[3]

History

Since 2017 funfair has been pioneering the development of blockchain tech to deliver a world of decentralized gaming through the Wallet, Games, and Platform solutions.^[4]

$FunFair Coin

Cryptocurrency is used to finance the platform. It also functions like a Casino token. Any player wishing to play online at a FunFair casino must purchase FunFair Coins to place a bet. The prize will also be paid out in FunFair Coin. Developers are paid out in FunFair Coins.

Casino operators who offer to gamble via the FunFair platform can also finance this only via the coin. Players who recruit new players will receive coins as a reward for the affiliates.
Furthermore, cryptocurrency functions as a means of payment for fees, whereby the coins are destroyed afterward.
This has the advantage that the value of the existing coins increases.

FunFair – The Platform

The platform is based on the Ethereum blockchain and works with its own Fate Channel solution.

The Fate Channel is based on the idea of the State Channel, which became known through the Lightning Network of Bitcoin (BTC). State-Channels have the function to verify payment transactions quickly. Thereby, new monetary values can be signed by the provider and the user. FunFair uses the Ethereum Virtual Machine (EVM)-capable blockchain for this purpose. The state channel is nothing more than a smart contract that is constantly being updated and signed to confirm new emerging values on both sides.^[5]

Benefits of Funfair

• Decentralization

FunFair uses decentralized, Ethereum smart contracts and open source technology to make the game fair. On the other hand, transparency is not sufficient. Gamers should not have to bear the cost of blockchain transaction expenses for a hand of blackjack. FunFair’s up-to-date approach to Fate Channels and Random Number Generation offers the flawless experience that gamers now demand.

• Immense User Experience

Fast payouts, momentum, and fairness are just the beginning. FunFair’s creators have (in aggregate) more than 40 years in building casino programs and gaming. Thus, the user experience will never be compromised.

• Its Own Currency

In addition, the gaming platform uses the FunFair token as its currency. It is the major kind of interaction with FunFair smart contracts. It makes sure every user receives rewards for participating. Moreover, gamers get to purchase FUN tokens as chips in the gaming platform. Even game developers get paid in FUN. Affiliates bringing in new gamers get paid in FUN, while casino licensees get to finance their operation via FUN.

Fate Channels

FunFair programmed so-called Fate channels from the state channels. FunFair doesn’t want to tell you exactly what Fate channels are all about. The company is merely saying that no one has to wait for blocks that still have to be mined. Fate channels are one of the platform’s basics. The FunFair platform is connected to the Fate channels and two other players.

Services

FunFair Games

Funfair Games is building a new genre of games for a new generation of players.

"Born out of our long history of building innovative multiplayer and crypto games, Funfair Games delivers unique and exciting games to Gen Y and Z players."

FunFair Labs

FunFair Labs focuses on research and development in latest blockchain technologies.
We are solving problems with the latest scaling solutions and putting protocols through their paces.

FunFair Ventures

A venture capital business that supports and invests in early stage projects aiming to transform blockchain technology.

Founder

The founder and CEO of FunFair are Jez San Obe. Jez San Obe has a few successful investments in the past, e.g. cryptocurrency exchange kraken and Google’s DeepMind.^[6]