What is CasinoCoin?
CasinoCoin is an open source, peer-to-peer, cryptocurrency specifically designed for the regulated online gambling industry.
What is Ripple?
Ripple is a payment processor that utilises blockchain technology, allowing users to send money globally and instantly, reliably and cost-effectively.
CasinoCoin is utilising Ripple’s source code as a basis for our blockchain as we believe it provides the speed, scale and security necessary for our utility.
Read more about Ripple at: https://ripple.com/
What is a blockchain?
A blockchain facilitates secure online transactions. It’s a decentralised distributed digital ledger that is used to record transactions across many computers so that the record cannot be altered retroactively without the alteration of all subsequent blocks and the collusion of the network.
To learn more about blockchain technology, visit: https://www.coindesk.com/information/what-is-blockchain-technology/
Who is on the CasinoCoin team?
CasinoCoin recently launched a non-profit foundation, with an office in the Isle of Man. As part of the foundation, a board of trustees was established. You can read about the members of the board at: https://casinocoin.org/board-of-trustees/
We have also appointed several senior industry professionals to the CasinoCoin advisory board. They will assist the Foundation in promoting the adoption and best-use practices of CasinoCoin in regulated gambling markets. You can read more about the advisory board at: https://casinocoin.org/board-of-advisors/
Are you opening an online casino?
We have no plans to open an online casino. The purpose of CasinoCoin and the foundation is to promote adoption and best-use practices of CasinoCoin in regulated gambling markets. In order to achieve this goal, we have plans to partner with regulated gambling operators.
Are you hiring?
At the moment we don’t have any open positions in the team, however, as the project progresses this may change. Please continue to follow us on social media, and we will post an update if we start searching for new team members.
Where can I store my CasinoCoin?
You can download the latest CasinoCoin Wallet for Windows, Linux and Mac from our Downloads Page.
Is my wallet linked to an email address?
No, wallets are not linked to email addresses, they are software programs stored solely on the user’s computer or mobile device, not on any central servers.
How can I check a transaction has gone through?
Click on the ‘Transactions’ tab in your CasinoCoin wallet. In the list of transactions that appear, double click on the one you wish to check and details of the transaction will appear. Once a transaction has been completed, it will be marked ‘Validated’.
How do I find the transaction ID?
Click on the ‘Transaction’ tab in your CasinoCoin wallet, select the transaction in question by double clicking, then click on ‘Transaction ID’.
Why isn’t my account active in the CasinoCoin wallet? (signified by the red “x”)
Wallet accounts are automatically activated once 10 CSC are deposited into it. This can be done by sending CSC to your wallet account from a different wallet or exchange.
- I have a problem relating to my CasinoCoin wallet, help me please!
When will the CRN test phase start?
Closed testing will start on the 1st of June 2018.
When will CRNs be launched?
The launch of CRNs is planned for the 1st of July 2018. Please keep in mind that delays are possible, dependant the testing phase.
Can I still join the Beta Testers?
Beta testing applications are now closed. If more people are needed we will re-open the application.
How many CRNs can I run?
The limitation is one CRN per person, per region. This means you can run a total of seven CRNs, one in each region. Please see this page for information on specifications and regions.
Who can run a CRN?
CRNs can be run by individuals and businesses.
Will there ever be more than 1,000 CRNs on the CasinoCoin network?
For our current estimation, 1,000 CRNs are appropriate for the market, with room to scale up. However, we are dedicated to ensuring that we can address the needs of the market as they change, and we will continually review if more CRNs may be required.
Will there be a limit for CRNs per country?
No. But if, for example, 200 applications for CRNs (the limit for Europe) are made for Germany, we will need this to spread more evenly across Europe. The foundation would handle this with individual operators if it occurs.
What hardware do I need to run a CRN?
We recommend the following specs to run a CRN:
OS: Ubuntu 16.04
CPU: Minimum 2 Cores
RAM: Minimum 4GB
HDD: Minimum 200GB (SSD not mandatory)
Port Speed: Minimum 100 Mbps
A TLD (Top Level Domain) you can control
An SSL Certificate (e.g.: Let’s Encrypt)
Can I use subdomains to bind them to my SSL Certificate?
Can I run a CRN on a VPS?
Yes, but you need to make sure you meet our standard recommendations.
How do CRNs earn CSC?
Every ~1,024 Ledgers the network will calculate all burned fees and reimburse them in equal shares to all active CRNs.
Are there any estimates on how much you can earn with a CRN?
No. However, you can find a calculation sheet here that has dummy estimations.
Will transactions be segregated to different regions and calculations run based on that split?
No. The calculation is based on the network-wide number of transactions. Every ~1024 Ledgers.
Can I run a CRN from home?
Assuming you meet all our requirements and have a fixed public IP, yes.
Why do I have to provide all my personal data to the foundation to run a CRN?
We are working in a regulated environment and need to ensure all our actions are accounted for with due diligence. In addition, having KYC helps us to ensure no bad actor is entering the infrastructure and ecosystem. This way running a CRN is fair and benefits all parties involved.
Will the Foundation trade or sell my personal data?
Will there be any legal issues for people running a CRN?
If cryptocurrencies are legal in your jurisdiction then running a CRN should not pose a potential risk; however, if you are uncertain as to the risks involved in running a CRN you should seek legal advice in your jurisdiction as CasinoCoin will not be liable for any legal issues, in any jurisdiction, that arise from your running of a CRN.
How do people queue once 1,000 CRNs are running?
People will enter a waiting list. When someone drops out, the next person on the waiting list will be contacted. It will be on a first come, first serve basis.
Are CRNs running as a hot or cold wallet?
CRNs will run as cold wallets which means you will hold the collateral on your local system.
Will the foundation monitor CRNs and tell people if they are down or having other issues?
No. People who operate CRNs are required to monitor the system, and their own CRN activity.
Can’t find the question you’re looking for? Please use this form to submit it to us.
You can also help us with extending our FAQ by submitting questions along with their answers.