Numerous gaming efforts have been created on top of the Ethereum blockchain over the years. EtherDerby is one of the latest projects to be added to this growing list of game-related ventures. It is a relatively simple concept, which primarily focuses on digital horse racing gambling. This is another interesting example of how dApps focusing on gaming can get more people excited about this underlying technology.
The EtherDerby Concept
As is usually the case when Ethereum gaming dApps come to market, there is an initial interest in projects like these. EtherDerby is no exception, as it offers something relatively new to users from all over the world. It is a game in which four horses compete against one another to carry the most carrots. These “races” last for four full hours, after which the stage is reset altogether.
How Does it Work?
The gambling aspect of EtherDerby is relatively simple to explain. Ethereum users can buy carrots for the horse they expect to win the race. If they guessed correctly, they will receive their investment back as well as a portion of ETH spent on buying carrots for the losing horses. Should users decide to purchase carrots and keep them in their vault, they will be eligible for dividends based on future race winnings.
One thing users need to keep in mind is the price of individual carrots. As more carrots are purchased, the price per item will increase. Depending on how long it takes for one’s Ethereum transaction to be confirmed by the network, users may not necessarily receive the expected amount of carrots. There is nothing the game creators can do about that fact as it will mainly hinge on how the Ethereum blockchain behaves at that time.
The winnings of each race will be distributed based on the amount of carrots players purchased for the winning horse. As such, it is pertinent to make smart investments, even though it is not advised to buy too many carrots for a specific horse either. If that horse ends up losing, players will not see their money back. All winnings are paid out to users’ individual EtherDerby vaults after the race has concluded.
The Road Ahead
Considering how the EtherDerby platform is already up and running, it seems unlikely any real changes will be introduced in the near future. adding more horses can make things more exciting, although it will heavily depend on how the community responds to this project in the first place. The horses’ names will undoubtedly cause many chuckles, as FlyMeToTheMoon is racing against the likes of SatoshiLite and OfficialMcAfee.