Aug 11, 2021

Introducing Smile Coin: Decentralizing the Gaming Industry on Algorand

By: Smile Coin

Smile Coin, part of the growing defi ecosystem on Algorand, has launched the first-ever decentralized gaming portfolio and payment processing to transform the way businesses and users transact on gaming apps.

Smile Coin (SMILE) is on a mission to decentralize gaming activity by enabling users to view, manage, and track their gaming activity on an open, public infrastructure. The blockchain-based network will create a decentralized platform for gamers to manage and control the use of their gaming data and leverage AI-tools to optimize performance. Their offerings will also include streamlined financing for gaming companies and alternatives for payment processing

Smile Coin is built by a team of passionate and committed systems designers, engineers, cryptographers, solutions architects, and researchers. Founded in 2021 by Nick Bucheleres, Taj Tarsha, and Robert Burden, it was created to solve high fees, slow payment processing, and unfair domestic banking regulations in the gaming industry. Solving for these will transform the way gaming businesses and gamers transact in burgeoning digital gaming economies. 

Why Algorand?

Smile Coin began developing its application on Ethereum, but ran into challenges on scaling in order to meet the needs of the massive gaming industry. The Smile Coin team elected to migrate its project to Algorand in order to provide users with a faster, more cost-effective, and fully decentralized transaction platform. Algorand has seen an increase in defi teams leveraging its high performing network that also has a simple deployment model with the Algorand Virtual Machine (AVM). 

“Smile Coin empowers gaming companies to seamlessly transact without the roadblocks of onerous payment processing and gives users tools to optimize their profits. Algorand’s cost-effective, scalable, and secure blockchain is the optimal platform to onboard gaming partners within the ecosystem and act as a bridge to larger non-native blockchain games that want to take full advantageof DeFi.” - Nick Bucheleres, Co-Founder and Chairman

Smile Coin will offer a suite of DeFi products and tools to power the future of gaming that include:

  • Distributed Gaming Portfolio - Smile Coin’s core product offers the first-ever immutable gaming ledge, which will enable players to manage, track, and optimize their gaming activity across the ecosystem. 
  • AI-Powered Returns - The Smile Coin Portfolio uses AI to analyze the profits and losses from all of the platforms you use Smile Coin on and uses prediction strategies to optimize your profitability.
  • Single Global Gaming Currency - By bridging multiple platforms into a single gaming network, Smile Coin will enable users to harvest, stake, and earn rewards on Algorand.
  • Bridging - Leveraging the Algorand Virtual Machine (AVM) network and iterations of its smart contract system provides an opportunity for Smile Coin to bridge the gap between non-native blockchain gaming platforms to distribute their data in real-time on Algorand’s blockchain.

Set to launch in Q4 of 2021, the release of the Smile Transaction Ledger dApp will be the first stage before bridging and scaling for the project in 2022. Follow along their roadmap and stay up-to-date with developer news on Reddit.

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