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Peerplays releases revised DAO proposal, focuses on sidechain solution

After receiving constructive feedback on the DAO proposal released on May 31, online gaming and wagering platform Peerplays has come up with a new proposal in order to offer an equitable solution to incentivize value and growth between both the DAO and Peerplays networks.

“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.”

In the new proposal, the platform proposes to expedite the creation of a Peerplays to Ethereum sidechain as an immediate priority. Sidechains are decentralized bridge for transferring cryptocurrency tokens from one blockchain to another. While their practical use has been limited so far, Peerplays says that with the advent of a new generation of advanced blockchains, 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.”

The revised DAO proposal explains that the Peerplays sidechain will enable users to send ETH tokens to Peerplays, and then wager them in games, and buy and sell them on the on-chain exchange. Users wishing to exit Peerplays with their ETH can then send them back via sidechain to an ETH address on the Ethereum blockchain. In addition, games and other smart contracts built on Ethereum can seamlessly connect with Peerplays and benefit from several integrated features that Peerplays will offer to game developers.

For this new mandate, Peerplays is now offering 20% of the earnings from Peerplays to theDAO in exchange for an increased valuation to cover the cost of expediting development of the sidechain under the new proposal. It explains that the move will 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 uses open-source blockchain technology to prove fair play at casino card games, and offers a solution to eliminate fraud in an industry where players lose an estimated $100 million a year to cheaters.

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