What Is Block Stamp (BST)?
Block Stamp (BST) is a new digital currency intended to store user data in blockchain. It is based on Bitcoins peer-to-peer technology to operate with no central authority. The goal was to create a new fast and effective blockchain that could be used for trusted time stamping of documents. Currently, Block Stamp blockchain is used as the core of an online gaming platform.
Future uses will cover time stamping dedicated for banking purposes, DNS and more. BlockStamp Games is an example of an implementation of randomized transactions provided by the Block Stamp blockchain. The blockchain offers the possibility to obtain fair, tempered randomness that can be used in
many applications such as e-gaming.
Block Stamp Storage Key Points
|Coin Name||Block Stamp|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
The whole concept was to facilitate e-gaming in a completely new form, where there is no casino side, no house edge, and all the transactions can be verified by the players. There were many attempts in order to create such a platform, however most of them failed during implementation, while some are still suffering from long implementation processes. The majority of those were ICOs, which after the initial fundraising, failed to produce the actual product.
Block Stamp took a completely different approach and decided to build our own currency as part of the project instead of raising funds for building online e-gaming sites. Our goal was to build the whole new platform which would be able to host players and to provide randomness with 0% edges and minimal fees at the same time providing transparency of all the transactions. Hence, they decided to develop a new currency which blockchain would be used for the fairness purposes.
This document will be updated accordingly. Given that Block Stamp can be perceived as a solid time stamping device, its applications can only be limited by its users’ imagination and requirements, but not by its functionality. A set of flexible procedures will be issued which will make purpose oriented time stamping possible.
This functionality is under development and will be made available shortly. The concept is based on the fact that more and more domains are being watched and blocked, against the will of the users. Peer-to-peer DNS prevents this kind of situations.
BST Blockchain characteristics
In terms of transactions recording, the BST blockchain is almost identical with BTC blockchain. Block Stamp is hard fork from BTC blockchain and as such it share almost all characteristics of the original blockchain. The main difference of the BST chain being the hashing, as hashes of the blocks start with the most significant bit set to one instead of the original zero.
As such, it will be used for time stamping of transaction documents. However, to make the time stamping faster and more efficient, the transaction size was increased to 1MB and block time was reduced to 1 minute.
Block Stamp The idea behind the gaming center was to create a platform anyone could use. The design allows to get rid of house (and house edge). The platform is an open source project, and is available to everyone on GitHub for view and for use. Everyone who wishes so can download the code, and build one’s own node, which can then be used for mining and gaming.
Random Number Generation
There are different approaches to the topic of random number generation, and the topic is also one of the most sensitive aspects of gaming. Everyone knows that randomness is the key to fair gaming. Old Fashioned central server online casinos were very often accused (not without a reason of course) of tampering with the random number generators or of having no randomness implemented at all.
Block Stamp It is not very surprising, given the profit oriented approach of most, if not all, of the casinos. Having a solid random system is key to building a trustworthy online casino. As said, there are different approaches to the RNG, with Oracles being the most popular for ETH smart contract.