User:Vitkogames/sandbox

UnikoinGold is a cryptocurrency token created by Unikrn, Inc., an esports betting company. It is a decentralized, freely-tradeable digital token based on Ethereum blockchain and its ERC20 smart contract token standard. It was released worldwide on 6 November 2017, following a month-long token sale that ended on 22 October 2017.

Token sale
The token sale lasted from 22 September until 22 October 2017. Prospective buyers could pledge their Ethereum and would receive UnikoinGold in return after end of the sale. 127,616,023.15 UKG were sold in exchange for 112,720.58 ETH collected. The token sale attracted investment from ConsenSys Ventures, Mark Cuban, and Ethereum co-founder Anthony Diiorio.

Coins can no longer be bought from Unikrn, but they can be earned through their platform by playing games and trading of in-game skins. Aside from its use as a betting token, it will also be used for providing utility to esports teams, tournaments, and developers.

The company has also launched its own internal wallet that will facilitate the use of UnikoinGold on its esports platform. The platform has an internal ledger that will reduce transaction costs between internal wallets. A token-compatible Ethereum wallet is required for external transactions of UnikoinGold.

Blockchain
UnikoinGold is based on underlying technology of Ethereum. It is a token based on smart contracts, and follows the ERC20 token standard. The total amount of UnikoinGold has been defined in advance, and all transactions between wallets are recorded on top of the Ethereum blockchain, which also guarantees the security of the transactions.

Ownership and Transactions
The tokens are sent and received from addressed that belong to Ethereum wallets. Whomever has the private key to the address is considered the owner and can spend the coins that belong to the address. Ordinary Ethereum addresses can be used to receive UnikoinGold, but ERC20 compatible wallets must be used. Transactions and wallet amounts cannot be reversed since the transactions are part of the Ethereum blockchain.

Uses
The tokens will be used for betting in jurisdictions where allowed, and as well as to send rewards to players and esports participants. Tokens are also used to enter jackpots where users can win virtual goods.