Ryu Coin

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Ryu Coin
RYULOGO.jpg
Ticker symbol RYU
Coins Utility token
Development
White paper Ryu Coin Whitepaper
Written in Python
Developer(s) Ryu Blockchain Technologies
Website ryucoin.com
Ledger
Circulating supply TBA

Ryu Coin is an upcoming decentralized application and utility token that will allow video game players to wager on themselves in online competitive multiplayer video games of skill.

The platform is comprised of the Ryu Vault Smart Contract, an API service for video game developers, 2FA (two factor authentication) app for gamers and the titular NEP-5 token Ryu Coin.

History

Ryu Coin was founded by Ross Krasner, Wyatt Mufson and Noah Lisser in November of 2017. It is owned and operated by their company Ryu Blockchain Technologies. Initial development began on Ethereum but ultimately changed to NEO due to its performance and cost benefits.

The project was announced by CEO Ross Krasner on April 23rd 2018.[1] The Ryu Coin white paper was released on July 24th 2018.[2]

The Ryu Roadshow was scheduled from the end of June 2018 to the beginning of October 2018 with stops at 14 different conferences in order for the team to showcase the platform.[3][4]

The Ryu Coin beta was released to the NEO testnet on August 15th to coincide with the NEO Game competition.[5][6] Their NEO Game entry won both a Nomination Award and an Excellence Award.[7][8]

Features

Ryu Vault Smart Contract

The Ryu Vault Smart Contract governs all matches in the Ryu system. Users can deposit/withdraw funds to the contract at any time (given the funds are not in the process of being wagered). No third party has control of another wallet's Ryu Coin. The contract also supports a developer whitelist to ensure only pre-approved developers are operating on the Ryu system, for both quality assurance and legal regulations.

Dispute Handling Mechanism

Ryu Vault includes a semi-decentralized dispute handling mechanism which is built off the SchellingCoin mechanism. It will allow for the system to self-regulate data reporting and attempts at cheating. This will involve having various parties stake Ryu Coin in order to become arbitrators. This way, people with a significant stake in the success of the system will ensure that fraudulent parties will not be able to act freely. Arbitrators investigate any issues and vote to resolve them. The system is outlined on pages 16 to 20 in the Ryu Coin whitepaper.

API Service

Ryu Coin offers a JSON-RPC API (JavaScript Object Notation Remote Procedural Call Application Program Interface) for video game developers to interact with the Ryu Vault Smart Contract. It is completely free to use and all developer partners are paired with a Ryu Coin Support Engineer tasked with guiding the developer through the implementation process.

Home Base App

The Ryu Home Base App is a 2FA app for video game users to interact with the Ryu Vault Smart Contract. It allows for users to create a wallet, register a username, deposit/withdraw Ryu Coin to/from the Ryu Vault Smart Contract, check their wallet balance of Ryu Coin, check their balance in Ryu Vault, approve/reject requested matches, see previous/current/requested and interact with the dispute handling system.

Ryu Coin NEP-5 Token

The NEP-5 token contract, Ryu Coin, is the utility token for the system. All entry fees must be paid in Ryu Coin and all prizes are awarded in Ryu Coin.

Team and Advisors

The team is currently comprised of the three cofounders:

  • Ross Krasner, CEO
  • Wyatt Mufson, CTO
  • Noah Lisser, VP of Partner Relations

The advising team is made up of experienced business professionals with a diverse background:

  • Asaf Meir, CEO at Solidus Labs
  • Shimon Mazor, VP of Product at Solidus Labs
  • Nick Fujita, CoZ Contributor[9]
  • Paul Hsu, Investor & Growth Entrepreneur[10]
  • Tom Plunkett, Author and Patent Attorney[11]
  • Tony Wilkins, Mentor at the Junto Institute

Game Partners

3rd Party Developer Partners

As of September 23rd 2018, Ryu Coin has announced partnerships with four video game developers.

In-house Games

In addition to Ryu Coin's developer partners, the system is going to be implemented into in-house developed games such as:

References