PolyCash is a blockchain protocol and wallet application for peer to peer betting currencies. PolyCash is used for cryptocurrencies including Betcoin, the flagship cryptocurrency developed by the PolyCash team. PolyCash is compatible with many blockchains including Bitcoin, Litecoin and Dogecoin. The Betcoin cryptocurrency runs on Datachain, a blockchain developed by PolyCash and based on the Litecoin source code.

In P2P betting currencies like Betcoin, the odds for betting events are determined by players rather than being set by the house. Unlike traditional betting systems, bets are placed and paid out at the protocol level and players hold the private keys to their bets.

The betcoin cryptocurrency pays out 100 betcoins to miners every block and blocks are mined approximately every 2.5 minutes. Unlike Bitcoin, there's no halving interval and the block reward will remain at 100 forever. But in addition to the proof of work rewards, betcoins are also paid out via gamified proof of stake. Proof of stake rewards accrue to every coinholder over time at a rate of 0.01% per 50 minutes. Coinholders can realize their gains by betting occasionally in the scheduled virtual sports events. This hybrid POS/POW inflation model helps solve the problem of cryptocurrencies' energy useage. By only paying out part of the currency through proof of work, less money is paid to miners, reducing their energy use accordingly.

The betcoin currency allows players to bet on virtual basketball games between 32 of the world's biggest countries. One game ends every 10 blocks (25 minutes) and game outcomes and scoring are determined by pseudo-random data from the blockchain. Betcoin was designed to support algorithmic betting and users can set up strategies to bet for them automatically.

PolyCash supports both custodial and non-custodial useage. Users who want to get started quickly can simply create a web wallet on a public node. But users who want to control their private keys or participate in mining should install PolyCash on their own computer. The PolyCash wallet application is built with PHP & MySQL so you'll need to install those to use Betcoin on your own computer. You'll also need to install the Datachain blockchain as a full node. To get started check out PolyCash and Datachain on github or create a web wallet to try it out now.

You can contact us via polycashcrypto@gmail.com for more information about this project.

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