Bitcoin still ostensibly waved the banner of blockchain to the rest of the world, but the second largest cryptocurrency, Ethereum, has followed a similar success trajectory.Anonymous currency has been experiencing Casino games In the past ten years.
Ethereum first appeared in 2014 and was developed by Vitalik Buterin, who was the co-founder of Bitcoin Magazine at the time. When Buterin woke up to discover that his World of Warcraft role was weakened by developers overnight, he discovered an interest in decentralized systems.
Ethereum itself is a DIY platform for dapps (decentralized applications) written in the Solidity programming language. Any dapp deployed to the Ethereum network is not under personal control, not even the person who developed it.
The Ethereum platform now has thousands of independent computers (nodes) running, which means it is completely decentralized. Ethereum’s goal is to completely decentralize the Internet and transfer power from large technology companies that have major shares.
Other potential decentralized systems that have been proposed include voting systems, social media networks, and real estate transfer records. Essentially, a decentralized system is a network of private computers that work together to create a supercomputer.
Ethereum uses “smart contracts” to verify transactions between two or more parties. In this sense, it is a more complex system than Bitcoin. The currency used to incentivize the Ethereum network is called Ether, and it encourages people to support the network by using their computers as nodes.
This is similar to the way Bitcoin miners get paid for maintaining the Bitcoin blockchain. When people refer to the price of Ethereum, they are actually referring to the cryptocurrency Ethereum.
People are increasingly discovering applications of blockchain technology and anonymous transactions. An example of perfect integration with cryptocurrency is the world of online casinos.
Whether it is a mutual bet or a bet, the blockchain helps to prove the complete transparency of the transaction. This means that the casino cannot hide the probability of winning, and therefore, the player will face the casino advantage.
Cryptocurrency eliminates the need for intermediaries such as banks, and also solves the problem of payment delays due to the use of smart contracts for automatic payments.
Online casinos using blockchain technology can provide players with provably fair algorithms. This is where a unique random number string (or hash) is generated for each game, allowing both parties to verify that there is no interference.
The three best Ethereum casinos
- BC Game is a provably fair altcoin casino that provides a comprehensive casino experience in a well-polished user interface. The games offered range from traditional casino dice and card games to roulette and keno.
BC Game has its own token, JB, which can be used to play any available game, but also accepts other popular tokens, including Ethereum. BC Game feels more like a traditional video game platform than a casino, which is an experience you will like or dislike.
There are several loyalty rewards and achievements that can be collected over time in exchange for repeated customization. Every operation performed on the website will increase your VIP level, and higher VIP levels will get various privileges. There is also a Lucky Spin function, which can be used every day to get free tokens and currency rewards.
- Rocket Pot
RocketPot is available in many countries/regions around the world, including the UK where many crypto casinos are blocked, and it provides thousands of games and sports betting features. There is a rating system for repeat customers, and if you manage to reach level 1,000, you will get a real Lamborghini as a reward.
RocketPot has complete mobile functions, so you can really put your own gamble On the go. Currently, the site accepts six major cryptocurrencies, and Ethereum is one of them.
We found that there is a relatively low withdrawal limit, encouraging players to play and withdraw regularly. Anonymity is also the standard for RocketPot players, and the registration process is simple and straightforward.
- True flip
True Flip is a well-built online casino that provides its members with slot machines, blackjack, live casino and more options. More than 1,000 games are included in a stylish interface, so that all actions are at your fingertips.
True Flip’s customer service is well managed. Your personal virtual assistant Chain will guide you through the initial learning process of the website. If you have any questions or need to talk to a human representative, it will be on standby at any time.
This casino licensed in Curaçao and Cyprus also has its own cryptocurrency, True Flip Token, but also accepts a large number of other tokens, including Ethereum. Therefore, deposits and withdrawals are instant without any fees. Take advantage of the large welcome bonuses, achievements and tournaments provided.
Disadvantages of crypto casinos
Scalability is an issue for crypto casinos. The basic capacity of processor power is increasing every day, and more and more power consumption is required. The impact on the environment is huge, and it is still getting worse.
Another problem is the government’s mistrust and hesitation in supporting cryptocurrency casinos in legislation. Cryptocurrency It will not benefit state governments that want to strengthen their currencies, so the crypto casino market is a young and unstable market.
The use of decentralized currencies for gaming has obvious benefits, so the industry is going through an impressive growth phase. Unless governments around the world start to face this situation-which is a very real and immediate possibility-crypto casinos may become more common in the future.