UnikoinGold official logo
|Initial release||6 November 2017|
|Circulating supply||1 billion UKG|
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 ERC-20 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[edit | edit source]
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.
Design[edit | edit source]
Blockchain[edit | edit source]
UnikoinGold is based on underlying technology of Ethereum. It is a token based on smart contracts, and follows the ERC-20 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[edit | edit source]
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 ERC-20 compatible wallets must be used. Transactions and wallet amounts cannot be reversed since the transactions are part of the Ethereum blockchain.
Uses[edit | edit source]
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.
See also[edit | edit source]
References[edit | edit source]
- "eSports betting cryptocurrency UnikoinGold fetches $31M at crowdsale - CalvinAyre.com". CalvinAyre.com. 2017-10-24. Retrieved 2017-12-19.
- Shieber, Jonathan. "ConsenSys Ventures has made its first four investments". TechCrunch. Retrieved 2017-12-20.
- Soper, Taylor (2017-09-25). "Mark Cuban, Ethereum co-founder among big investors in Unikrn's digital token sale". CNBC. Retrieved 2018-01-15.
- Transform Group. "UnikoinGold Poised to Become the Universal Token for Esports and Gaming". markets.businessinsider.com. Retrieved 2018-01-15.
- "UnikoinGold Becomes The Largest Esports and Gaming Token With Global Reach". The Merkle. Retrieved 2017-12-19.
- Sood, Rahul (2017-10-18). "The UnikoinGold Wallet by Unikrn: High Speed & Gas Free". Medium. Retrieved 2017-12-19.
- "What is the ERC20 Ethereum Token Standard?". The Merkle. Retrieved 2017-12-29.
- Schroeder, Stan. "Mark Cuban-backed Unikrn to launch cryptocurrency for esports betting". Mashable. Retrieved 2018-01-15.
- Hollerith, David. "This Blockchain-Powered Platform Aims to Disrupt the Esport Gambling Industry". Bitcoin Magazine. Retrieved 2017-12-29.
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