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    Author Topic: Provably fair for investors?  (Read 4796 times)
    Dabs
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    October 07, 2014, 01:29:36 PM
     #21

    Just a bump for the topic, but there is already a decentralized way for the audit server to exist. The problem is the latency of this decentralized audit server, and how fast "transactions" pass through it. And if it's small enough and not well protected or designed, it can be killed, but not as easy as the centralized audit server.

    The investors would host this audit server, like any other alt-coin. The small ones maybe not, but the bigger ones will definitely want to.

    For slow games, like lotteries, cards games, plinko, keno, binaries, or other games that can wait 1 to 5 seconds, this is achievable. But for dice games, or anything that needs to be fast, this might be a problem.

    It's easy enough to create one centralized server that can spit out provably verifiable source of entropy (with or without a hardware RNG), the problem is if that centralized server can handle the load of more than one dice site. Or a large dice site with lots of players.

    The bitcoin network itself, limited by 1 MB blocks, can only do an average of 7 transactions per second.

    And then some bad whale (or shark) decides to DDoS the new coin, or launch a 51% attack, or time warp, or some other yet unknown vulnerability.

    Currently, random.org can spit out a secret a day, that is verifiable after the fact, but not before it. Another site, is called Little Bit At a Time, that has a secret every hour.

    I could make my own server, that would spit out a secret every minute or every second, but that's as far as I would go.

    Dice sites that would accept this trade-off would have to resign to keeping secrets secret longer than an hour or minute or second (like SatoshiDice the classic game that kept secrets daily) and can not allow players to randomize more often.

    I may not be making sense, so please dissect this theory.

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