Parlay – Community Operated Decentralized Prediction game Cryptocurrency Platform

yuvadeep (50)in #cryptocurrency • 6 years ago

Hello

Introduction : -

Parlay is an event based decentralized prediction game cryptocurrency platform that is set to provide adaptable blockchain solutions. To achieve these scalable blockchain solutions, Parlay team is using their advanced primary nodes; these primary nodes help the platform to decrease the blockchain network delays and will be successful in pursuing the ascendable blockchain solutions.

Apart from minimizing the blockchain network delays, Parlay is an event based prediction game ecosystem with user-friendly master node enables the community members for simple and quick operations.
Till now blockchain based crypto communities which are operating on the master node are completely dependent on the trader or investor who is holding the master node but for the first time Parlay team designed this technical beauty with master node structure.

To increase the security and the expandability of blockchain solutions the Parlay team is using the proof of stake for consensus algorithm and depending on the scenario the project installs the unique auto-scaling nodes automatically to sustain the elegance.

Secured Scalability : -

Problem1 : - Blockchain Network Delay and Blockbuster Attack

After the successful introduction of first ever cryptocurrency Bitcoin in the year 2008 later a number of cryptocurrencies introduced in the market with their own protocol but all of them designed based on the one common resolution. Since all the cryptocurrencies are based on the common point they are facing the key issues like network delay and overcrowding.

The overcrowding causes the delay which is very difficult to conquer exclusively in PoW (Proof of Work) mechanism because, in PoW mechanism to overcome the delay caused by the overcrowding, a lot of physical hash power is required.

Apart from overcrowding, the network delay due to the excess number of transactions is a very sensitive issue which cannot be resolved until more number of servers is installed.

Parlay Solution : - Auto-scaling Feature

Based on the above said two major drawbacks, the Parlay team designed this platform with the auto-scaling element to decrease and to stop the network delay completely in order to sustain the transactions.

Auto-Scaling Feature : -

Auto-scaling feature is an advanced mechanism which is designed by the Parlay team, this auto-scaling mechanism increases and decreases the number of servers depending on the number of transactions. Therefore by using auto-scaling feature Parlay platform can facilitate more number of servers on demand which is created by the sudden overcrowding.

Problem 2 : - Blockchain Transaction Monitoring System

Blockchain Transaction Monitoring system involves tracking and reporting all the transactions from blockchain nodes. These transactions deliver peer-to-peer and written to memory pool of that particular node. Generally, most of the nodes share the common memory pool, when the number of transactions is made in a short time then it causes overcrowding and results in the improper listing of the transactions in that particular memory pool.

Parlay Solution : - Blockchain Auto-scaling System

An Auto-scaling system is an advanced tool which is designed by the Parlay team, this auto-scaling tool depending on the overcrowding level, a number of preliminary primary nodes will be deployed automatically to control the unexpected overcrowding and vice-versa.

Problem 3 : - Primary Nodes

As I mentioned in the introduction, running a master node will be a typical strain for the programmers and it is a very time-consuming headache even for the developers to configure the master node sometimes. Normally other cryptocurrency platforms provide developer-friendly master nodes which result in losing the community members because developer-friendly master nodes result in the loss of the hidden returns of the investors.

The main demerit of using a developer-friendly master node will constrict the users and ultimately result in the size reduction of the community.

Parlay Solution : -

Based on their years of experience in blockchain technology and depending upon the previous circumstances Parlay team succeeded in bringing an easy solution for the master node consequences. Parlay team concluded that the user-friendly option will be the key to resolve. Therefore Parlay team designed this unique platform basing on the user-friendly master node.

The stability of the blockchain network depends directly on the number of community members so in order to maintain the consistent blockchain network Parlay team designed user-friendly prime nodes setup.

Parlay Live : -

Parlay Live is community-based decentralized prediction game platform which is operated by the community members.

Parlay Live contains four steps and they are : -

Proposal on Community : -

Any prime node holder of the platform can publish or post Parlay event on Parlay. Live and can get incentives from the platform.

Proposals on Parlay. Live must be on the following contents : -

->Parlay event Description.
->Parlay Prize.
->Parlay Fee.
->Parlay Event Participation Period.

Approval by Parlayers : -

Before publishing the event, Parlay committee examines the event and if it is approved by the committee members then the event will be posted. One Parlay is equal to one vote.

GamePlay Detail : -

Parlay. Live prediction game platform, Parlay team is planning to initiate with the 2018 Russia world cup.

Future Vision : -

Parlay team encourages community members to post more and more events for multiple purposes and this keeps the platform and the community members live and in future, the event in Parlay. Live will be like an election and the events which should be posted on the platform will be decided by the community members opinion.

Parlay Chain Specification : -

Parlay Platform’s PoS (Proof of Stake) Consensus algorithm allows each and every token holder of the platform to participate in the transactions of the ecosystem.

To build a consistent, reliable and secure ecosystem Parlay team has authorized more incentives to prime nodes holder.

In Parlay platform, PoS block reward is divided into two parts first part is assigned to the primary node holder and that part grabs a share of 60% reward and the second part is assigned to the staking nodes which hold 40% of the reward.

Parlay Coin Specification : -