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Quanta
Quanta is the technology company which is looking at this holistically creating the applications with the ability to manage the cryptocurrencies through Digital Wallet which can be used globally by players using the borderless. It is built on the Ethereum blockchain, utilizing Smart contract functionality. Quanta’s decentralized global network provides not only safety and credibility to players and operators but democratizes the experience by making it available to people regardless of border or economic status.
Contents
Technology
RNG
RNG (Random Number Generator) is a core part of any lottery system. Creating a secure and truly unpredictable RNG on the Ethereum blockchain was one of Quanta’s largest technical challenges. After researching, the project selected the decentralized, immutable and Ethereum-based Randao Algorithm.
RANDAO
Quanta’s RNG relies upon the Randao process to produce the random number required for selecting lottery prize winners. Randao accomplishes this by requiring outside participants (who have achieved the appropriate KYC verification level) to commit a random hashing number to the automated API and socket server using their Randao Wallets. An Ethereum deposit is required to join the Randao process.
Upon successful completion of Randao (i.e. the player did not turn off his/her computer, lose internet connection or try and manipulate the process) the Ethereum is returned to each participant’s Randao Wallet with an additional bounty as incentive to participate in Randao. Once enough hashing numbers have been committed by outside players, the reveal process begins. During the reveal process all hashing numbers generate the essential Randao Final Number by using XOR: “bitwise exclusive or operator” ((see full technical explanation in the Solidity documentation for how the system generates the essential Randao Final Number from the submitted hasing numbers).
Regulation
Licensing
Quanta understands and values the important, strict regulations that govern the gaming industry. Before the global launch, they plan to be in full compliance with all of the Isle of Man Gambling Supervision Commission requirements as well as FSA Registration and NMi Testing Report.
On the 7th August 2017, Quanta was granted a licence to operate and develop business in the Isle of Man, becoming the first blockchain gambling business in the world to obtain a reputable gambling licence.
Besides that, thanks to the use of blockchain technologies they will enhance player safety and trust to an unprecedented level as well.
Corporate Governance and Accountability
To instill complete faith in Quanta players, partners and investors, Quanta has taken aggressive steps to establish rules and policies which ensure they take the utmost care in protecting information, adhere to ethical standards as well as remaining open and accountable.
About Quanta Technology Co., Ltd.
Quanta Technology Limited, a corporation responsible for managing the global lottery service using cryptocurrency and blockchain technology, was founded in Isle of Man, a self-governing British crown dependency.
References
- Quanta lottery white paper v0.5, October 26th, 2017
- New E-Gaming Company licensed in the Isle of Man, October 27th, 2017
- GSC E-gambling License, August 7th, 2017
- NMi Report, July 18th, 2017
- Ethereum White Paper, Sep 18th, 2017
- Introduction to Smart Contracts
- quantaplc/qnt Github
- Corporate Governance and Accountability
