One of the most promising ventures to come out in the past few months is the Kibo platform. It is, after all, the first project in the gaming industry worldwide that announced a decision of making Ethereum smart contracts techy a basis for gaming processes. The Kibo team has made a significant amount of work to form the logics of lottery functioning on the basis of the Ethereum smart contracts and to elaborate scalable backend and efficient interface of the application. It is perhaps one of the most interesting innovations as far as crypto and gaming are concerned.
Today Kibo is far from being the only project with a launch that is restrained by the Ethereum platform. The issue of the gas price and number of currently available transactions in the net creates impactful limitations. If gas cost issue is solved, the Kibo team will launch a limited version of Kibo. Additionally, only after scaling problem is solved, they will be able to launch in full force with a huge promotion like the gambling industry has never seen before.
In order to let everyone appreciate the development pace and total amount of work done, there is an http://kibodev.io website, which main process characterizing metrics are displayed. Plans to make this website the center of developer’s, tester’s and other specialist’s community who participate or want to participate in the process are in the works.
At the present moment Kibo owns more than 6,000 well motivated branches, the geography of which amounts to several dozens of countries. The structure of Kibo contracts contains several types of tokens, one of which is intended for distribution of income generated by the whole platform and is of the ERC-20 standard. Tokens will be in exchanges after the platform is launched in the real platform. It’s done that way to avoid price speculation because only after the launch, tokens will perform their main goal which is dividends distribution.
In terms of legality, Kibo tokens are most likely to be regulated as securities, since the token structure enables receipt of income from the platform’s activities with no efforts from a token holder.
Read more on their Medium blog here: https://medium.com/@kiboproject/kibo-lotto-on-the-final-stage-of-implementation-a16dc134c890
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