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. The Betcoin cryptocurrency runs on Datachain, a blockchain based on the Litecoin source code.

The Betcoin cryptocurrency pays out approximately one third of the currency to miners via proof of work, and the remaining two thirds are paid out to coin holders via gamified proof of stake. Betcoin's hybrid POS/POW inflation model helps solve the problem of cryptocurrencies' energy useage. By paying out only one third of the currency to proof of work, miners energy use is reduced proportionally without compromising the security of the blockchain.

In Betcoin, all coins accrue rewards at a rate of 0.01% per 125 minutes (50 blocks). Coin holders can realize these gains by occasionally staking their betcoins in virtual basketball games. These virtual games are held every 25 minutes and the scores and winner for each game are determined by pseudo-random data from the blockchain.

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.

Betcoin's unique consensus model relies on inflation which is high, but is consistent, fair and transparent. Betcoin has a theoretical maximum inflation rate of 52.2% per year. However, every coin holder can grow their coins at this rate simply by staking their coins with a conservative strategy in the scheduled betting events.

Betcoin was designed for algorithmic betting and users are encouraged to set up strategies to bet for them automatically. Users who employ a betting strategy better than average can grow their betcoins faster than inflation, increasing the value of their holdings.

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.

To run your own node, please view the installation instructions in our README.

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

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