PeerPlays (PEERPLAYS) - Decentralised tournament management and wagering platform.
Peerplays is based on the same Graphene technology as BitShares and Steem. Peerplays uses a DPoS (Delegated Proof of Stake) consensus system which uses 3 second block times. This makes it extremely energy efficient while maintaining extremely high transactions per second rates.
Peerplays being a blockchain, not a system running on top of another blockchain like Ethereum, makes it more of a platform made for third parties to develop decentralized applications (DApps) on top of. Game developers from all over the world are encouraged to make DApps to run on the Peerplays blockchain and take part in the profit sharing system.
When bets are made or games are played, a user fee, or "rake" is charged to users and those rakes are then paid out to individuals who hold tokens on the Peerplays blockchain. These payouts are made entirely automatically by the blockchain itself.
Peerplays is entirely decentralized. Since DApps are run locally on a users computer and interfaces directly to the blockchain, there is no centralized website or server to attack, unlike other gaming sites with web based front ends.
Peerplays is a solution for provably fair blockchain-based gaming that allows users to design their own specialized tokens or chips, buy or sell gateway tokens for popular cryptocurrencies like Bitcoin or Ether and then wager these tokens in on-chain games.