Casino on Hedera! Lucky Token / King Solomon - Hedera Corner (Part 1)

This interview was originally published by Genfinity.

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King Solomon interviews Lucky Token as part of the Hedera Corner in the LightHouse by Genfinity! Brought to you by LightHouse Report sponsor Hedera Hashgraph and in collaboration with our partner and Hedera wallet provider HashPack.

Transcription

Genfinity – King Solomon – Founder & CEO
‍What is up everybody, Solomon here. I hope you guys are all having a fantastic day. As many of you may know, at Genfinity’s Hedera corner, we are trying to streamline in collaboration with HashPack as many community project interviews as we possibly can. It's awesome to say that we have Lucky Token today. Lucky Token is building out the house of gaming and gambling on the Hedera network, utilizing the Hedera Token Service. So, how are you doing today, Lucky?

Lucky - Founder
‍Hi, glad to be here. I'm fine. How are you?

Genfinity – King Solomon – Founder & CEO
‍Oh, great. Um, so these interviews we're trying to streamline and make them as straight to the point as possible. So, the first question that I would always ask is to describe Lucky Token, describe the ecosystem that you're building out.

Lucky - Founder
‍All right, so Lucky Token is a token with not that large of a supply. What we as the Lucky Token team do is that we are a software-focused group, and we are building use cases and utility for our token, and exploring different ways we can make those things on the Hedera.

Genfinity – King Solomon – Founder & CEO
‍Yeah, great. Um, as far as why Hedera, you know, why did you guys choose to launch your ecosystem on the Hedera network?

Lucky - Founder
‍Uh, well, we all were a part of the community before launching the project, and we all came to the ecosystem for different reasons. But for me personally, I think the technology is something that's never existed before, and there's great opportunity to build something that hasn't really existed in this form before. So, that's the most interesting aspect for me, and then everything else is so great with the Hedera base layer. It's fast and simple to use, and I mean, I can explain it to people easily and show them it's the most user-friendly network I think in my opinion, and it's a really great network to build on.

Genfinity – King Solomon – Founder & CEO
‍Yeah, 100%. I mean, the ecosystem and the community is fantastic. I certainly have to agree with you there. Um, you guys are leveraging HTS very definitively, like the token service aspect. So, is there anybody else on Hedera launching the house of gaming aspects that you guys are facilitating right now? Are you guys the outlier there because I haven't seen anybody else doing it as of yet?

Lucky - Founder
‍Yeah, we haven't really seen anything that has their own in-house token that they are building use around their own token. Many many use hbar and have smart contracts and simple games, like coin flips and stuff with that. But when we have our own token, we are really trying to build something unique, ways of displaying what's possible on it. We are completely focused on what we are doing because it's really something that's not done on Hedera before, and there are no guides to do it. So, we really need to learn as we go, you know, figure some stuff out in our own game use cases.

Genfinity – King Solomon – Founder & CEO
‍Yeah, so regarding the game you have right now, because I know you do have gamified aspects with Lucky Token so far. I think you guys have done it with there's a roulette game on the site, right? Are there plans, um, are there plans in the near future to launch an additional game? I think that I was watching the Hbar Bulls interview that he did a few days ago, um, and he had mentioned that you guys were building out or whoever he was interviewing, he mentioned that you guys were building out something like horse racing or something like that.

Lucky - Founder
‍Yeah, so we have our own deep spot server, Lucky Token Lounge, where all the social aspect is happening. And we are making a Discord bot that integrates with HashPack through HashConnect, and we can have social games on our Discord. So, we currently have an open beta of our Lucky Studs, which is a horse racing game where there's seven different horses and you bet on which one you think will win. Then, foreign ERS get paid their rewards. It's pretty simple, but it's fun because when people place bets, there's a notification on the race channel and it's just fun. It's a new thing in a social way, and we are really building this bot to be able to scale upwards for everything to be ready for the possible upcoming bull market. So, when our product is able to scale and possibly spread to other Discord servers and propagate that way, it can expand outside of our established ecosystem. So, I think that's great, and we are planning to make all games available on both our Discord and our web server. But development takes time, and especially with a development team of only three members, it can take time. But we are really trying to put out quality products no matter how long it takes, and I think for the project, we are about three months old now, started this summer, and we already have some strong products to show. I think we are really in a good position going forwards. And yes, we are absolutely adding more games and we really want to make unique games, not just traditional gambling, because the rules are pretty established there and it's only a matter of implementation. But also some unique ideas that are only possible through the use of the Hashgraph technology.

Genfinity – King Solomon – Founder & CEO
‍Yeah, and I mean, when you think about web 2 and the gaming aspects or gambling aspects, like poker and all the things that people can participate in right now, there's a lot of thought process around a lot of those ecosystems being rigged, you know what I mean? As far as the back-end aspects and software aspects are basically telling these companies that are operating these platforms it's rigging the game. So, can you talk a little bit about what differentiates Lucky Token and the aspects that you guys use to make sure that for your users, that choose to make their own decisions, obviously this isn't financial advice for Lucky Token or the ecosystem or anything, but that choose to go on and play these games, how you guys are keeping that system fair?

Lucky - Founder
‍All right, so our fairness comes through the use of the Hedera consensus service. Yeah, it's a modifier that's outside of any user's direct influence. So, when the network reaches consensus, when all the nodes agree that the transaction went through, that is something that is outside of everyone's control. So, we are binding the results of our games. For example, what number roulette shows up when the transaction goes through and the algorithm can only then calculate the number, so nobody knows it beforehand. It can only be known when the transaction is reached consensus. So, this can be used in many different ways when you need a random number, no matter how big or small. We can adjust the algorithm we have. So currently, the roulette uses numbers from 0 to 99, but we can simulate a dice roll or a selection from a million. It doesn't really matter because it's all really random and the number is different every time. Instead of us having control, it's a combination of two things that we really don't have control over. When the user decides to submit the transaction, and when Hedera consensus service is reached and the transaction is finalized on the network. And I think those are really strong points when making something like this that requires extreme trust. We all in our team understand how large of a trust issue there currently is on gambling, and solving that is one of the problems we are definitely in the process of making everything fair and transparent, so there can be no issue about trust.