“The amount of positive feedback we received in emails, messages and phone calls was very encouraging.” said Jonathan Baha’i, president of Bunkerchain Labs and the blockchain technology consultant for Peerplays, “But it quickly became clear that in order to fulfil the requirements of the DAO, we would need to move forward with our sidechain technology plans so that value could transferred between Peerplays and Ethereum in a fully trust-free manner.”
Sidechains are basically a decentralized bridge for transferring crypto currency tokens from one blockchain to another. Although they have been discussed for years in the crypto space, practical use has been limited due to complex issues surrounding their theoretical application. Now however, with the advent of a new generation of advanced blockchains such as Peerplays and Ethereum, a fully operative implementation of sidechains is finally within reach.
“We have been investigating a sidechain solution for the past few months,” said Daniel Notestein, blockchain development contractor for Peerplays, “But only recently, with the help of DAO supporters, have we come to realize the importance of accelerating this part of the project. Through this process, we are also developing a framework that many other DAO sponsored projects can use to sidechain with Ethereum in the future.”
For this new mandate, the Peerplays team has published an updated proposal in which 20% of the earnings from Peerplays are offered to theDAO in exchange for an increased valuation to cover the cost of expediting development of the sidechain. This is meant to solidify the partnership between the projects and boost the incentive for both communities to support the alliance. DAO holders will begin voting on this proposal following a brief review period.
Peerplays is the world’s first decentralized wagering and tournament platform built entirely on the blockchain. Gaming and betting sites can also take advantage of the Peerplays application programming interface to enable blockchain-based wagering for their existing users.
