Poker has gone from paper cards in saloon bars of the 1800s to huge online companies allowing people to play from home. But now it’s time for the next advancement.
So far, if you want to play poker online you have to hand your funds over to a company...probably registered in a tax haven. There they will tell you: "trust me" and ask for your money and for your documents. If this happened on a street corner, you'd walk away. In the best case scenario, you would have some fun and get your money (or some of it!) back. Your documents are still out there - outside of the legislative protections of developed countries. The worst case, however, is people like Raymon Bitar – the founder and CEO of Full Tilt Poker. In 2011 the FBI shut down Full Tilt because it owed players $425 million, but only had $60 million in its cash reserves. Bitar was found to have personally embezzled over $40 million and sentenced to 65 years in prison. It is for reasons like this that the world needed a new and more transparent way to play. And this is where PokerDAO comes in.
We think poker should be for the players. The PokerDAO project was created to provide poker fans with an amazing poker experience – a place where the players are the house. After cryptocurrency was introduced to the market, the online poker industry is also trying to take advantage of trends by allowing players to play poker online using their crypto assets, so far they have been completely centralized - and likely some shady website in Costa Rica.
PokerDAO promotes fairness, honesty and transparency. The platform always makes sure that every game is fair at all times. PokerDAO protocol is a fully decentralized, provably fair solution built on top of optimistic roll-ups – a layer 2 scaling solution. It is compatible with any EVM-compatible chain, such as Polygon, Binance Smart Chain, xDAI, Avalanche and many others.
Besides that, since Poker DAO is completely decentralized, you always have total control of your crypto assets and you can manage your tokens every time you place your bets in every round of the poker game.
With PokerDAO all the fees – instead of going to a selected few – are going to the DAO, which is community owned. The DAO members will receive the rake collected and be able to vote on how the DAO treasury uses their share of the rake to make the protocol better.
The project team implemented the ability to use any token that players have while playing on the platform. Thus, the protocol will allow developers to provide players with unlimited opportunities to play online poker and earn more crypto assets over time. PokerDAO aims to help other DAOs and teams build their own front ends, using the PokerDAO protocol. This will increase censorship resistance as well as allowing front ends in many styles and languages.
The roadmap of the PokerDAO project contains many important milestones for the development of the project, and they plan to take the following steps to make it come true:
● a fully web-based reference implementation of a frontend for the PokerDAO protocol, allowing users to play without the need to download any kind of software".
● allow players to have full control over their tokens while playing poker.
● not requiring KYC, to allow users to not reveal their identity or personal information before playing poker.
● give each player access to create a table using any token.
The PokerDAO team is dedicated to making a decentralized solution that takes the power from the hands of the few poker site owners and gives it back to the players – making a protocol that lets people play the way they want.
Written by: Cass Eno
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