Forum rules
Bitcoin.com is not responsible for any of the gambling sites discussed here.
Users are responsible for their own losses on all bitcoin gambling sites.
If the gambling stops being fun, it's time to stop gambling.
User avatar
bitcoincasinox
Posts: 3
Joined: Mon Jun 06, 2016 1:13 pm
Contact: Website Facebook Twitter Google+

Blockchain Verified Casino Games Powered By Smart Contracts

Mon Mar 11, 2019 10:19 am

Blockchain Casino Games Sites

Many gamblers see the bitcoin logo at online casinos and presume that its games are powered by the blockchain or simply think that this technology only provides payment solutions. Both of these assumptions are incorrect and due to the lack of knowledge of punters, casino operators are taking advantage. There are many different aspects that make the best trustworthy blockchain casino games sites and in this article, I will talk about all the things that this amazing tech provides in the iGaming industry.

Blockchain Verified Gambling Transactions

The blockchain is made up of independent blocks which are connected by a network. They run in chains and a transaction can only be verified if all the block entities agree on the outcome. Smart contract casinos utilize this technology to verify each bet made which can not be manipulated and is ultra secure.

Traditional Online Casino Problems

There have been many problems that traditional casinos have had to overcome to make a secure environment for gamblers to play. Blockchain technology ensures a much safer platform to gamble due to the encryption nature of the blocks. Its decentralized nature means that nothing can interfere with the processes and with independent checks possible by all users thanks to public ledger bets displays it offers far greater proven fairness than its counterpart.

Smart Contract Bet Verification

The next generation of platforms is using Ethereum and EOS blockchains so that a new protocol gambling token can be created. These tokens can create many new possibilities such as enabling a profit share system across all coin holders. Instead of a team of people required to run the operations, programmers design smart contracts which are able to resolve each process that would be otherwise handled by employees. Also due to the enhanced encryption along with the decentralized nature, it means that casinos can operate autonomously.

Why Decentralization Is Vital

A decentralized smart contract gambling platform runs independently and rather than been controlled by an individual or company it functions run on the blockchain network. When transactions are guaranteed over a network it means that no one part can alter results which stops manipulation from been possible.

Casino Money Distribution

It can be very tempting for casino operators to try and get out of paying huge wins or they simply may not have the funds available to pay out the winnings. This has been a major problem for many and millions has been taken by rogue operators acting in this manner. With blockchain smart contract casinos that is not possible due to the network of blocks handling payments which can not be held back.

Improved RNG Fairness

Random numbers are generated by software to produce the outcome of online casino games. Traditional casinos are not decentralized therefore the independence cannot be guaranteed which is not the case at blockchain gambling platforms. Smart contract games are also possible to be reviewed by anyone so they offer guaranteed fairness.

Conclusion

The above are only a few of the problems that new blockchain based casinos that run smart contracts are able to overcome. There are many great platforms such as TrueFlip and Casino Fair that are in the early stages of exploring all the possibilities that can be created to benefit gamblers around the world. By the of the year this technology will be fully functional and a treat to the main players in the casino industry.

Return to “Gambling”

Who is online

Users browsing this forum: No registered users and 1 guest