PARLAY; A DECENTRALIZED PREDICTION GAME PLATFORM FULLY POWERED BY THE PUBLIC ON THE BLOCKCHAIN.
A Quick Scan through Blockchain Network Delay and Attack by Blockbuster.
The existence of Bitcoin since 2008, has made the development and the launching of numerous cryptocurrency possible. Since all these existing cryptocurrencies have similar features, they have almost the same correlated critical issues which include; network congestion, and network delay.
However, the existence of Parlay hopes to resolve and to minimize network delay, this will help to stabilize transaction in the network.
The reason why there is usually delay in the network is that there is a high amount of transactions occurring at the same time, mining difficulty remains the same until it is retargeted and producing difficulty after the generation of a block.
BLOCKCHAIN TRANSACTION HAS A MONITORING SYSTEM.
The availability of a blockchain monitoring system makes it possible for the presence tracks and reports of every incoming transaction from the blockchain nodes.
Transactions are relayed peer to peer, they are usually written to a memory pool of each node.
BLOCKCHAIN HAS AN AUTO-SCALING SYSTEM.
The level of congestion on the monitoring system is usually very high, the number of preliminary Prie Nodes will then become flexibly chosen to be operated.
On another note, the network congestion is usually very low, PrimeNodes will then be turned off gradually which will help to maximize the rewards on the Parlay chain.
ALL ABOUT PRIMENODES.
THE PRESENCE OF A User-friendly Master node Service (Prime Service).
Non-programmers have always had the challenge of running a master node, it is usually a time-consuming task in order to understand the system and to be able to configure the master node, this is usually the case for even developers.
In order to solve such issues, the Parlay team has decided to make provision for prime service which will help users to be able to setup master node at a good level of relative ease.
The blockchain network will need a back up in order to maintain a good level of stability and the value of the network, this is the reason why Parlay team is determined to help develop a user-friendly PrimeNodes which will be used for the setup and the maintenance of the community.
ABOUT PARLAY.LIVE
This is going to be a decentralized prediction game platform, and it will be operated by the public community.
COMMUNITY PROPOSAL.
In order to provide network growth and stability, the platform Parlay. Live will provide users with the proposal right which will support Parlay network service (PrimeNode).
Every holder of the PrimeNodes will be able to post Parlay event on the platform Parlay. Live and incentives will be obtained from the system.
The price for Parlay will be fixed by the budget managing system and it will be integrated with Parly.live.
The proposals were written on Parlay. Live should have these items;
• The description of Parlay event will include race, game, competition and other features.
• The type of price and reward size of the Parlay prize.
• The event ticket price of the Parlay fee.
• The period for the participation in events.
APPROVALS MADE BY PARLAYERS.
Each Parlay (PAR) will be able to hold one vote. In order to get the Parlay event properly censored, the committee will examine and review pre-proposals. If the event becomes approves by the committee, Parlay chain will enforce the event automatically.
DETAILS FOR GAMEPLAY.
During the game of Parlay.Live prediction, winners will be picked by winners of three or more gameplay to be able to win the Parlay prize.
In order for a clear idea to be given about the Parlay event system, Parlay.live service will be initiated and it will begin with the 2018 Russia World cup. Passions and fortunes will be contributed to make life more entertaining and profitable.
FUTURE VISION FOR PARLAY. LIVE.
As time goes on, events which will be interpreted as a more broad definition in the Parlay community will become a form of election or that of governance decision based on the opinion of the community. The future of Parlay live platform will be one that will encourage communities to post new events for various purposes.
The Chain Specification by Parlay.
The algorithm of Parlay’s PoS will enable every stakeholder to be able to participate in the validation of available transactions on the network.
In order to promote a stable and secure growth of the network, more incentives have been assigned to PrimeNodes holders.
Every reward earned from each Parlay PoS block reward will be divided, 60% will be assigned to PrimeNodes and 40% will be assigned to staking nodes.
SPECIFICATION FOR PARLAY.
Symbol = PAR.
Algorithm = Scrypt.
Maximum supply = 30,000,000 parlays.
Block time = 90 seconds.
Available block rewards = 20 PAR.
The distribution of rewards will be PrimeNodes 60% and the Staking Node which will have 40%.
The collateral for PrimeNodes will be 2,500 PAR.
Difficulty retargeting will involve every block.
Block maturity will have 88 blocks.
The confirmation for transactions will have 10 blocks and the
The premise will have 0.5%
For inflation adjustment, they will have a reduction of 10% every year.
The 1st will be 345,600 Block.
The 2nd will be 691,200 Block.
The 3rd will be 1,036,800 Block.
The 4th will be1,382, 400 Block.
The 5th will be 1,728,000 Block.Maximum supply will be 1,855,288 Block.
It will be used for bounties, the listing of exchanges, the listings of the master node, the promotion of campaigns and Parlay prize.
SOURCE
Website: https://www.parlaychain.io/
Whitepaper: https://github.com/parlaychain/parlay/files/1984478/Whitepaper.pdf
Twitter: https://twitter.com/ParlayChain
Wallet: https://www.parlaychain.io/wallet
GitHub: https://github.com/parlaychain/
Discord: https://discord.gg/CK38myY
Ann: https://bitcointalk.org/index.php?topic=3652595
Authored by: geeboy88
Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=1874835
Eth Address: 0xdcef7d27bbaae609accdaf43ccf41b042beaffb4
Parlay Address: PRET8dYi7PGwDYQ9yP19YvVJt1EVtTCt6V
Thanks for letting us know
I like this... Very informative. 👍