The new blockchain, which is based upon the EOS blockchain, marks a shift for DAO away from Ethereum.
In a post to Medium, the DAO team said that having conducted “extensive internal testing”, it has concluded that the Ethereum blockchain “in its current state” could not provide a user experience that could match the best igaming industry standards.
“From what the market is experiencing nowadays, it takes forever to load the game and make a transfer, as well as the design of gambling DApps is not intuitive and slick,” the DAO team said.
“It does not only relate to the design peculiarities, but the whole problem also lies behind certain blockchain algorithms and turning stones. So, to compete with traditional online gambling, DAO.Casino decided to launch its own blockchain for the gambling industry.”
The move to an EOS-based blockchain is in response to the huge growth in EOS gaming over recent months. EOS appears better suited to gaming due to the speed of transactions on the chain.
The DAO team said the move to its own blockchain will be a “swift and well-planned journey” with a mainnet launch by the end of Q3 2019. The open source part of the code will be released by the end of April and testnet by the end of May.
DAO.Casino’s DBET token was trading at $0.015520 for a market cap of $2.6m at the time of the announcement.