Prime System is a breakthrough for the fields of cryptography, science, statistics and others
MOSCOW, Aug. 28, 2018 /CNW/ - Mr. George Xop, the creator of PB System logic, explains: "A different output given the same starting conditions is not possible unless we have an external source of entropy. For us, the entropy are the participants, plus some neat mathematics. The hard part was to optimize the code logic to fit into a limit of the Blockchain's block size, as the process is happening in real-time and it is impossible to foresee or calculate the result. We made it so no one, not even us, knows what output is going to be generated."
To test the PB System, the creator's team have built a lottery on EVM implementing aforesaid technology, where it is impossible to predict or model draw results.
Unlike traditional (online) casinos and gambling companies, Xop's company is not making any revenue from tickets sales and it does not collect client's money. To maintain its operation, the PB System automatically exerts 4-7% from the amount won by a participant.
The team decided to test the PB System in the PrimeBall.io raffle game. "Gambling software is usually pre-programmed and the outcomes are predetermined, consequently no true randomness exists in such games," says Mr. Xop. Full Automation offered by the blockchain allowed the PB creators to test it in the global uncontrolled environment, implementing randomness on a level and scale ideal for this project. By design, blockchain technology is inherently resistant to modification of data, which means the process is recorded on a public ledger and can be seen on the Etherscan. Participants can thus review anonymous transaction records while staying fully unidentified.
The same system could be used in cryptography, science, statistics and alike fields that require deterministic randomness for new groundbreaking discoveries.
Online gambling industry is expected to reach $96.89 billion by the end of 2024 with CAGR of 10.81%. Deregulation in countries like Brazil, India and Japan are leading drivers that support this growth. Foreign lotteries may blow minds with eye-watering pools as high as $3.3 billion (ElGordo, Spain). "But the industry did not achieve significant improvements for past 10 years, therefore we see great need to bring transparency and innovations to the process," says George Xop.
To learn more: https://primeball.io/
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