Casino Mechanics

Overview

VaultBet's casino platform leverages the advanced capabilities of the Internet Computer (IC) blockchain to deliver a transparent, secure, and provably fair gaming experience. By utilizing cryptographic randomness inherent to the blockchain, all outcomes in the casino games are not only fair but also verifiable by any participant or observer. This document outlines the mechanics behind the casino operations, focusing on the generation of random outcomes, the handling of bets through smart contracts, and the logging of bet results in an on-chain database.

On-chain Randomness and Provably Fair Outcomes

Dealing with randomness on a deterministic computing platform, such as the IC, is intricate. Some basic rules need to be followed by the user of this module to obtain (and maintain) the benefits of cryptographic randomness:

• cryptographic entropy (randomness source) is only obtainable asynchronously in discrete chunks of 256 bits (32-byte sized Blobs)

• all bets must be closed before entropy is being asked for in order to decide them

• this implies that the same entropy (i.e. Blob) - or surplus entropy not utilised yet - cannot be used for a new round of bets without losing the cryptographic guarantees.

VaultBet utilizes IC blockchain to generate randomness through a process that is both secure and verifiable, ensuring that the outcomes of our casino games cannot be predicted or manipulated.

When a game requires a random outcome - such as rolling a dice, drawing a card, or spinning a wheel- VaultBet requests a random blob from the IC blockchain. This random blob is then used to determine the outcome of the game. Because this randomness is generated on-chain and is cryptographically secure, it is impossible for any party, including the platform operators, to interfere with or predict the result before it is revealed. This mechanism guarantees that every game outcome is fair and can be independently verified by players.

ICRC-1 Compliant Tokens and Smart Contract Logic

Bets on our platform are placed using ICRC-1 compliant tokens, which adhere to the token standard on the Internet Computer blockchain. Before placing a bet, players are required to deposit some token amount to a smart contract which holds their balance to play in the arcade. This is done to improve loading speeds and allow players to make multiple bets without the time consuming requirement of multiple token transfers. When a player places a bet, the corresponding amount of tokens is transferred to a subaccount within the smart contract specifically designed to manage the bet.

The smart contract acts as a trusted intermediary, holding the tokens until the outcome of the bet is determined. Once the game is concluded, the smart contract automatically calculates the payout based on the game’s rules and the bet's outcome. If the player wins, the smart contract releases the appropriate amount of tokens as the payout which is then credited back to the users balance. A user can withdraw this balance to their connected wallet at any time. If the bet is lost, the tokens are retained by the platform. All the logic is executed autonomously by the smart contract, ensuring transparency and eliminating the possibility of manual interference.

On-Chain Bet Logging

In addition to processing the outcomes and payouts, our platform also maintains a comprehensive record of all bets placed. Once a bet is resolved, a log entry is created in another smart contract acting as an on-chain database. This log contains all pertinent details of the bet, including the principal, the amount wagered, the game played, the outcome, the timestamp and the payout if applicable. This is important in the case of any disputes to provide the record and details of the bet as a blockchain transaction.

The on-chain nature of this database ensures that all records are immutable and publicly accessible. Players and auditors can review the history of all bets, providing an additional layer of transparency and trust.