Built by the developers of DFSCoin, the Fantasy Gold Blockchain replaced DFS on April 30th, 2018 through a 1:10 swap as a means of capitalizing on the latest advancements in masternode technology and decentralized community governance. Fantasy Gold is a peer-to-peer cryptocurrency serving the growing fantasy sports and eSports industries in both the B2B and B2C spaces. Functioning as both in-game and prize payout currency for contest entry, Fantasy Gold also acts as a secure currency payment processing network. This payment processing network is able to process transactions quickly at only a fraction of the cost compared to traditional options. By using Fantasy Gold Coin, and it’s open ledger, players can be confident their deposited funds are safe and used only to pay-out prize pools.
Fantasy and eSports players can secure Fantasy Gold Coins in their own downloadable private digital wallet. They can then send Fantasy Gold Coins from their unique wallet to their personal account on fantasy sports sites in order to enter contests. The Fantasy Gold wallet can be encrypted, backed up, and saved off-line to a USB or other air-gapped device. The wallet only needs an internet connection to sync with the Fantasy Gold Blockchain, send transactions, or when used as a staking wallet once the cryptocurrency enters its proof-of-stake phase.
The Fantasy Gold Blockchain is an encrypted structure of data that represents an open financial ledger and as such, Fantasy Gold deposit addresses can be easily and publicly verified. This allows site owners to publicly display the total amount of deposited funds being held to cover prize pools or the total available Fantasy Gold Coins available to cover guaranteed prize pools and tournament events. Using an open financial ledger, players can be assured that deposited player funds are properly segregated from company expense accounts.
Fantasy Gold transactions cannot be reversed which eliminates the increasing risks and fees associated with chargeback fraud. Because the Fantasy Gold Blockchain and network is decentralized there is no central authority that can freeze funds unlike with traditional centralized payment processors and banks. In effect merchants, players or even casual holders of Fantasy Gold Coins are acting as their own bank and payment processor. When end-users make deposits or purchases using Fantasy Gold Coins, merchants can store funds in cold- storage offline, in a private encrypted desktop wallet, or stowed away on a paper wallet. Transactions sent offline can still be monitored and confirmed by simply viewing the Fantasy Gold block explorer.
An open source and free to use Fantasy Gold API will be published on the projects block explorer. Also free, is the source code for the explorer in the Fantasy Gold public software repository which is hosted on GitHub along with the full Fantasy Gold source code for public inspection.
Fantasy Gold