Satoshi’s Palace, a decentralized gaming platform built on Secret Network, has just launched its first mainnet application – Bull or Bear.
In this game, players place bets on whether the price of Bitcoin is going to go up or down in a five minute timeframe. If they guess correctly, they win a portion of the tokens placed by the losing players. This is just the first of many casino-style games that the Satoshi’s Palace team is currently developing.
Let’s take a deeper look at how this application works, and what else this team has planned!
Bull or Bear?
Place Bet: To start playing, follow these steps:
- Choose the amount of sScrt you want to wager.
- Select whether you believe the price of Bitcoin will go up or down in the next 5 minutes.
- Click on the Play button to lock in your prediction.
Notes:- Your bet amount is the sSCRT you’re putting on the line for this round.
- The game will start once you’ve placed your bet and made your prediction.
Prediction Period: After placing your bet, the system will monitor the Bitcoin price for the next 5 minutes.
- If you predicted the price correctly (up or down), you win the round.
- If your prediction was incorrect, you lose the round.
Winning and Payout:
- If your prediction about the price movement is correct, you win.
- Payouts are based on your bet amount and the specific outcome of the round.
Claim Winnings: Once the round is complete, you can claim your winnings through the game interface or your dashboard.
SuperHot Wallets
One of the most innovative things the Satoshi’s Palace team has developed as part of this game is something that they call a “SuperHot Wallet”. You may be familiar with the term “hot wallet”, a cryptocurrency wallet that is actively connected to the internet and regularly used to submit transactions. A “SuperHot Wallet” is like this, but made even easier to use quickly and repeatedly.
Users can load up the wallet with tokens and approve the wallet for use one time, and then essentially forget that they are using a Web3 application. Say goodbye to constant wallet window pop-ups for each and every transaction. No pesky signature requests and approvals. Transactions are automatically signed by the SuperHot Wallet when a user interacts with the game’s interface. This technology enables a Web2-like gaming experience that users are sure to enjoy, while still providing the benefits of a decentralized application.
What’s Next?
The Satoshi’s Palace team has quite a few more games in development. Funded by a grant from SCRT Labs, the planned games include sports betting, blackjack, slots, and lottery. Additional games like poker, roulette, crash, and battleship may also be added later down the road. Some of these games are already playable on testnet at https://satoshispalace.casino/!
This team is also constantly innovating and bringing new development concepts to Secret Network, such as the UMA optimistic oracle integration they submitted to our most recent hackathon, and cross-chain applications that interact with both Secret and EVM chains.
To keep up with the project, be sure to follow them on Twitter/X. You can also join their community on Discord and Telegram. Happy gaming!
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