WINk is excited to announce its first foray into the oracle market with the launch of WinkWin. The product strengthens WINk’s offering and enables it to branch out into further gaming offerings as well as eliminating elements of risk for both the organization and players alike.
What is WinkWin
WinkWin is a decentralized, blockchain oracle. Oracles enable real-world data to be used on on-chain by interacting with smart contracts. Centralized oracles raise particular problems for blockchains as the data can be influenced by third parties for nefarious means. WinkWin solves this by including financial disincentives for third parties that provide inaccurate data. This is a particular benefit for gaming platforms such as WINk that require accurate information of real-world events to make payouts.
Why WinkWin is important for Wink
There are three key areas that the platform will help WINk with; on-chain gaming, prediction markets, and sports betting.
Decentralized on-chain games such as DICE, require secure, random numbers. The traditional way of random number generation is centralized as the specific value of a random number relates to the physical state of a specific machine. While the numbers used by WINk currently are random, making these verifiably random, on-chain is not easily achieved. WinkWin solves this through its random number prediction machine, which provides reliable, unpredictable, and crucially, verifiable, random numbers. This completely solves the trust problem and eliminates the possibility of cheating.
In the recent US Presidential Election, WINk innovatively introduced the election prediction market. The market proved extremely popular with WINk’s players and generated millions of Dollars in Bets. Because of the overwhelming popularity of the feature WINk intends to develop a fully decentralized prediction market. When launched, WINksters will be free to create their own event predictions and enable them to earn a percentage of the fees earned when other players place bets on their events. Creating prediction events will require the pledging of WIN and add further pressure to the locked-up supply of WIN.
The next area of development is the sports betting segment of WINk. The WinkWin Prophecy Machine will enable WINk to include sporting events in the prediction market and expand its offering in sports, one of the most lucrative areas of online gaming.
The launch further cements WINK’s position as the world’s leading Blockchain Gaming platform and ensures it’s not only the most popular gaming platform in the space but also the most verifiably fair. The addition of the prediction market will make WINk the largest prediction market in crypto and position WINk to become the SportsRadar of the Blockchain world. As well as this the move into the Oracle market adds an extra layer of diversification for the organization in a rapidly expanding field and points to a broader future for the organization and wider use case for WIN token holders. With more innovations and games to be announced soon, it’s an exciting time to be a WINkster!