Welcome to CHIPS’s documentation!

CHIPS is a cryptocurrency in development. It will be used as cryptocurrency for decentralized betting on the decentralized betting platform BET.

BET is a platform that will be the protocol for various betting games. CHIPS will be the fuel for these betting games; people can buy CHIPS on an exchange and use these CHIPS to place bets in any of the betting games that BET will offer.

PANGEA poker is one of these games. PANGEA poker is a project that will revolutionize poker to be truly decentralized. Find the PANGEA whitepaper here.

CHIPS will use the Lightning Network in order to settle transactions off-chain. This is useful in for example poker, where each bet is a mini-transaction from player to pot. It is unneccessary to record this transaction in a blockchain, but with the Lightning Network being able to record this in so-called payment channels, a lot of (probably unlimited) transactions between players and a poker pot can happen before the end result of one playing hand is recorded on the blockchain.

CHIPS is a bitcoin fork and is the first cryptocurrency not to use an Ethereum contract. This is an improvement, since the rising EtherGas price will make playing poker more expensive with the influx of new players on Ethernet contracts powered poker games.

In short:

  • Lightning Network enabled
  • Microtransactions – used for betting or any other micro-transaction application
  • Will be used widely in betting platforms within the Komodo Ecosystem
  • Will be the only currency supported in Komodo Platform’s Pangea Poker
  • Can be integrated into any other gaming system such as online casinos, betting, or incentivized gaming of any type
  • Proof of Work
  • 10 second block time
  • SHA-256 algorithm since CHIPS is almost a pure BTC fork.
  • Explorer: http://explorer.chips.cash/

Since CHIPS uses a 10 second block time, more than 98% of the total CHIPS supply has already been mined. To prevent CHIPS from being vulnerable to attacks due to low hashing power, CHIPS will switch to delayed Proof of Work (dPoW) to ensure the security of the CHIPS chain.

Poker forum where Decentralized Poker is discussed: https://forumserver.twoplustwo.com/29/news-views-gossip/decentralised-poker-future-1636827/index40.html

Indices and tables