With years of experience in the betting and gambling industries, the leaders of PROOF OF TOSS were at the forefront of Bitcoin adaptation. Starting as early as 2011 we have been prospering from the new possibilities that blockchain has brought. The time has come to put our experience and expertise in both blockchain, cryptocurrencies and especially betting, to good use.
We have set on a path to innovate the betting industry. Smart contracts for smart people and smart business. PROOF OF TOSS will bring better odds, lower fees, greater market coverage, higher margins and an opportunity to benefit for every user of our ecosystem.
What is PROOF OF TOSS ??
PROOF OF TOSS is a decentralized betting ecosystem that is aimed to modernize and change the bettingindustry. Our platform allows anyone to create wagers, bet and judge — all for the purpose of winning TOSS tokens. What sets PROOF OF TOSS apart from the rest, is that we also cater to existing Bookmakers and other “players” of the betting industry.
By providing a solution that serves as a gateway to the world of blockchain and cryptocurrencies with all their perks, we aim to enhance the betting experience, while increasing the service provider’s profit margins and market coverage.
ADVANTAGES FOR USERS
PROOF OF TOSS is the most democratic ecosystem for betting, where Players will find rare, interesting Wagers and possibly the best odds available in the industry. If they fail to find an event that they want to bet on, Players can transform into Originators and create Wagers of their own, publish them in the PROOF OF TOSS ecosystem and earn TOSS tokens with no risk. Furthermore, those Users that want to earn with virtually no risk, may try on the role of a Judge. An honest Judge never loses.
PROOF OF TOSS is aimed at improving the experience for all market “players” by solving the following problems:
- Fraudulent activities and lack of trust
- Long verification processes
- Reliance on centralized systems
- Lack of control over personal funds
PROOF OF TOSS MISSION
We have come a long way from creating an idea of smart betting that later developed in PROOF OF TOSS, to actually hitting the market with our product. At PROOF OF TOSS we believe in consistency and through development.
Our mission is to create a fully functional ecosystem for smart betting, based on impregnable trust and reliability provided by smart contracts. We strive to give equal opportunities to benefit from our ecosystem for users that are ready to implement their knowledge, skills, and intuition to create viral wagers, predict outcomes and determine winners. We wanted the ecosystem to meet all needs of its users. Analyzing the market, we came to the conclusion that the most widespread function is given to betting only, though we understand that the betting industry has way more to offer. Thus, we have created 3 roles that can suit literally any user who is ready to put in a little bit of effort.
The most important requirements for us are reliability and accountability. The blockchain technology that powers PROOF OF TOSS introduces new opportunities while remaining reliable and stable. We’ve chosen RSK’s blockchain for its transactional speeds (100 transactions per second ) Smart Contracts that will guarantee transparency and irreversibility of all the transactions, as well as its ties to Bitcoin’s blockchain.
THE PROOF OF TOSS ECOSYSTEM OFFERS :
Transparency of all transactions.
Leveraging blockchain technology we have reached a maximum level of transparency for all transactions within the ecosystem. Every user will be able to monitor all payments, payouts and other transactions himself.
Control over personal funds with one Wallet.
Users never lose control over their funds. Funds move from Wallet to Smart Contract to Wallet. Making payments, deposits and withdrowals instant and under full control of the user.
Various roles.
We provide vast opportunities to win for all our users. A user can either create a Wager, place a Bet or join the DCJ as a Judge. Users can only take on one role at a time. However, our token holders are not restricted from having multiple wallets.
Irreversible transactions and high level of responsibility of all users.
What goes on the blockchain stays on the blockchain. We believe that the inability to revert or change a transaction after it is written into the smart contract and published on the blockchain will increasethe level of responsibility for all the Users of the ecosystem.
Fair results.
We are using the wisdom of the crowd in all our Judging and Challenge mechanisms. Employing the “prisoner’s dilemma” with clear risk and reward for any action taken by the crowd and relying on our random number generator to select Judges we ensure that every decision will be right and true, if such decision is unreachable the Wager is cancelled and players immediately receive a full refund.
No terminations of service.
The PROOF OF TOSS ecosystem is fully decentralized in terms of funds ownership. Each user retains full control over their wallet and therefore will always retain their right to access and interact with the ecosystem.
Equal opportunity.
The User’s role in the ecosystem is flexible, Users may switch roles at their own desire. The rules of use are strictly embedded in Smart Contracts, therefore all users are treated equally. The platform is not storing user’s personal data and no financial data is required to start betting.
Pseudonymity.
The PROOF OF TOSS ecosystem holds no personal information about users. Users are only exposing their identity when they purchase or sell tokens on a third party marketplace that requires KYC verification. All transactions are irreversible and transparent therefore the identity and transactions of a user could be reverse engineered. Once on the platform, you don’t need to prove your identity or present any personal data. We are required to collect KYC data during our Token Sale, however, that nformation will only be stored to verify users and is required by regulatory bodies.
High speed of transactions.
PROOF OF TOSS is developed on RSK’s smart contracts which are built as a side-chain of the Bitcoin Blockchain. This provides us with the opportunity to leverage great transactional speeds of 100 transactions per second and reduce costs.
THE PROCESS
A Wager is created for an event happening in the near future, and can be created by either an Originator or an Operator. Users place Bets on suggested outcomes and once the event is over, if the Wager was created by an Originator, Judges are invited to verify the result and by doing so define winning Bets. If the Wager was created by an Operator, he is responsible for providing a fair and true result. If the Users are not satisfied with the result provided by the Operator, they are able to challenge the result by initiating the platform’s Distributed Crowd Judge mechanism.
PROOF OF TOSS ECOSYSTEMS FUNDS
There are three Funds in the PROOF OF TOSS ecosystem: a Challenge Fund for every Wager that requires Challenge resolution, a Judge Fund for every Wager to which Judges are invited and a Jackpot Fund. Unlike the Jackpot Fund, the Challenge and Judge Funds are transit funds that hold Tokens until the smart contract for a Wager is open. Funds are released once consensus is reached and all conditions of a Wager are met.
Challenge Fund — all deposits made in order to initiate a Challenge resolution are allocated here until the Challenge is resolved, the deposits are then either returned or transferred to another User according to the result of the Challenge (see Challenge Scenario table).
Judge Fund — all deposits made by Judges for a Wager are locked in this fund. The funds are released
and distributed by the smart contract in accordance with the results reached. (see Possible Judging Scenarios table).
Jackpot Fund — a cumulative storage of TOSS tokens that Users with different roles were fined for. Once a total of 1000 TOSS tokens is collected in the Jackpot Fund, a lottery is held. Every user of the system that participated in a Wager participates in the lottery, the winner is selected by the PROOF OF TOSS random numbers generator and receives 75% of the Jackpot Fund, the remaining 25% are stored for future lotteries.
The Jackpot Fund is topped up in the following cases :
A Player initiates a Challenge against the Operator by depositing an equivalent of 20% of their initial Bet. If the Challenge is initiated by less than 25% of all Players that participated in the Wager, those Players that initiate the Challenge lose their 20% deposit.
If the result of a Challenge is the same as the Operator’s initial outcome, Players that initiated the Challenge lose a portion of their deposits, said portion is transferred to the Jackpot Fund.
The peer-to-peer solution :
If a Wager fails to attract Bets on alternating outcomes, the Originator is fined for creating a “bad” Wager, 50% of the Originator’s deposit is transferred to the Jackpot Fund.
PROOF OF TOSS — The smart way to bet
PROOF OF TOSS is an ecosystem that provides advanced functionality for the betting industry by utilizing smart contracts and blockchain technologies. The ecosystem is aimed at offering new opportunities for both the P2P and bookmakers. All parties engaging with the ecosystem will be able to do one or more of the following — create wagers, bet on various outcomes and/or verify the outcome of an event. The system will allocate funds automatically and instantly through the use of smart contracts, eliminating hird parties, fraudulent activities and significantly reducing transactional costs.PROOF OF TOSS democratizes the betting industry providing equal opportunities for both ordinary users and professionals including Betting Operators.
PRODUCT ARCHITECTURE
Blockchain technology lies in the foundation of PROOF OF TOSS, it brings decentralization, flexibility, reliability and trust, characteristics that we believe will change the betting industry for the better. For the ecosystem to run smoothly, be scalable and retain all the basic principles of blockchain, we’ve chosen RSK’s open-source smart contracts platform. Being a sidechain of Bitcoin, RSK provides a high level of security by merge-mining that prevents the double-spend problem. RSK scales to 100 transactions per second (same as PayPal) creating blocks at 10 seconds average interval.
PROOF OF TOSS ecosystem unites a Wallet, Smart Contracts, and the RSK’s blockchain.
TOKEN SALE
1,000,000,000 TOSS tokens There is a fixed amount of TOSS tokens to be released. Unsold tokens will be distributed amongst all contributors in proportion to their initial contribution.
During the Token sale, everyone who complies with our terms and conditions and passes the KYC check will be able to purchase TOSS tokens (released through an ERC20 smart contract) these tokens will be exchanged by TOSS token (released on RSK once the network is ready) in proportion 1:1. This action will grant all users of the ecosystem equal rights and reduce speculative buys.
Price : 1 TOSS = 0,17 USD
TOSS tokens will be distributed as follows:
=> 30% (300 M TOSS tokens) are reserved for the core team (7%), bounty (1%), whitelist (1%),
founders (10%) and 11% for the PROOF OF TOSS Foundation.
=> 70% (700 M TOSS tokens) will be distributed amongst all buyers of Token, according to their
purchase, and the bonus that applies.
=> Taking into consideration the complexity of this project we have established the Hard Cap at the level of 50 M USD, while Soft Cap is 6 M USD.
=> All tokens will be sold according to the following rate: 1 TOSS equals 0.17 USD.
=> Tokens that won’t be sold will be distributed between buyers in proportion to their purchases.
=> In case the Soft Cap is not reached all purchases will be returned to purchasers .
The Bounty Campaign will run from February 6th to March 20th ONLY. Current Week : ONE (February 6th-February 12th). As a way to reward our community, we are distributing 1% of all Tokens in our Bounty Program. Total Bounty Budget : 10,000,000 Toss Tokens. The bounties will be paid within 30 days after the end of the Token Sale.
ROADMAP
BROWSER EXTENSION WALLET
PROOF OF TOSS PLATFORM
PROOF OF TOSS WEB WALLET
PROOF OF TOSS DCJ
PROOF OF TOSS LAUNCH
PROOF OF TOSS MOBILE APPLICATIONS
PROOF OF TOSS MARKETING & PR
MARKETING FOR TOP PARTNERS
PROOF OF TOSS FOUNDATION
TEAM
FOR MORE INFORMATION ;
PROOF OF TOSS WEBSITE : https://toss.pro/
PROOF OF TOSS TWITTER : https://twitter.com/proof_of_toss
PROOF OF TOSS FACEBOOK : https://fb.me/ProofOfToss
PROOF OF TOSS WHITEPAPER : http://toss.pro/wp-content/uploads/2018/02/White_Paper_PROOF-OF-TOSS-WHITEPAPER.pdf
PROOF OF TOSS REDDIT : https://www.reddit.com/r/proof_of_toss/
PROOF OF TOSS MEDIUM : https://medium.com/@ProofOfToss
PROOF OF TOSS TELEGRAM : https://t.me/proofoftoss
PROOF OF TOSS ANN : https://bitcointalk.org/index.php?topic=2883886.msg29634781#msg29634781
My profiel link: https://bitcointalk.org/index.php?action=profile;u=1110718
ETH Address: 0xB5fAce1cdD8D68803F9d835e0C17035C44762d5c
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