Fasttoken has just been presented in Malta, as ”the first all-in-one, Ethereum blockchain-based, fully decentralized betting and wagering solution providing 100% transparency, security and fairness to all involved parties – players, game providers, operators, and affiliates.”
The solution will rely heavily on blockchains, smart contracts, and a forthcoming crypto-token called FTN. The token will be ”the fuel to enable transactions on the network,” but will also be used for special rewards, cashback, and jackpots.
According to the company, the RNG will be ”produced live for each spin, dice roll and card revealed in a skill game, based on data taken from both the player and the operator.” And, as it should be for any provably fair game, anyone will be able to audit the randomness of each spin and reel position once a gaming session is over.
For the players, the Fasttoken solution will require the use of an Ethereum browser extension such as Metamask, but a mobile app including a crypto-wallet and a dApps browser is planned and will serve as a mobile alternative to Metamask. A demo version of Fasttoken, running on the Ethereum Ropstein test network, is already accessible online under the brand Fast Bet. The user is credited with 10 FTN (fake money for now) and can test all the games but without any provably fair functionalities.
If anything, the announcement confirms that provably fair blockchain-based gaming is not a minor trend, but a key evolution for the iGaming industry. Fasttoken is being developed by BetConstruct, a London-based designer and provider of online and land-based betting and gaming solutions, and a heavyweight in the industry. The company has partners in more than 50 countries and its solutions are used by major brands and casinos operators such as Betsson, Interwetten, Partouche or OlyBet. Once operational, Fasttoken could therefore quickly be adopted by many existing online casinos.
No timeframe has been provided regarding the completion of the platform or the official launch of the token.