Parlay is a new distributed platform, a new, non-centralized platform that allows users to predict and vote on Blockchain-based games.
Estimating the results of the games (Bet) is a large industry around the world. This sector is a market where people trade on the end of events and the main purpose of the market is to bring together beliefs about an unknown future. Parlay combines guessing games with blockchain, giving users the option to play their own games or join existing ones.
Normally, a prediction game is organized by a "bookie" that receives money on bets and informs users about bet odds and results. Bookie picks up a portion of the money given as a commission.
Considering the concept of prediction games as an insecure peer-to-peer (P2P) system, Parlay is a blockchain-based platform that connects users around the world who want to have fun with the system games or create their own games. The decentralized model provides a free system in which people can easily put their predictions into their games. Users with successful results are paid in BTC or PAR.
The game prediction system model is based on a small fee paying against sudden fluctuations that can cause delays on the network. The Parlay team has developed a workaround to this problem through auto-scaling. This feature increases and reduces the number of servers on the platform according to the student.
The platform also uses the Proof of Stake model - the PoW represents a significant increase in the computing power users need. The platform is designed so that users with little experience can easily use the system at the same time. This means that users can have more than one server running the platform quickly and easily.
The platform uses its own token named PAR for operations within the system. Parlay token uses a Scrypt algorithm with an average of 90 second blocks and 20 PARs per block, as described in the website.
