Blockchain Sports Betting Blockchain technology is being lauded for helping bettors, and bookmakers get more benefits than they would play in conventional gambling platforms. Crypto sports betting offers different solutions…
What Makes The Best Ethereum Gambling Sites 2020
If there’s one thing the 21st century has taught us, it’s how fast industry is being changed, and those who fail to keep up with the changes are being left behind. One of the technologies that seem set to revitalize the gambling industry is blockchain. There are already a large number of platforms that are utilizing this technology to create new gambling experiences. The leading blockchain for crypto casinos is Ethereum as it makes the best gambling sites in 2020.
Blockchain is an immutable online-based ledger system that collects and retains records in their original format. The technology stores these records without any chance of being altered thanks to a series of interconnected computers that are linked together, making this technology a decentralized one.
Many platforms have incorporated blockchain technology, which they use to facilitate faster transactions; this technology has also taken out the need for sharing personal information, thus saving user data from prying eyes. In this article, I will talk about the pros and cons associated with Ethereum gambling sites below.
Pros Associated To Ethereum Blockchain Tech
The Ethereum blockchain technology that utilizes the distributed ledger technology (DTL) has helped in rectifying many problems that plagued gambling platforms of yesteryears. Below, we go through several advantages associated with blockchain use.
Trustless Gambling: Blockchain Ethereum casinos is a transparent technology system that keeps a record of all activity happening on this platform. It means that punters and casino operators get a live feed on all the action happening on this platform, including amounts wagered, games outcome, as well as amounts won.
Provably Fair Gaming: The best Ethereum casino sites use blockchain platforms to promote provably fair games on top of its immutability and transparency. Players get the chance to keep tabs on the game’s payout, thus making gambling here a smooth and exciting affair.
Speedy Transactions: The lightning speed blockchain conducts transactions is similar to the speed of light. However, to make transactions this fast, users are encouraged to switch to digital currency use as opposed to fiat currency.
Anonymous Ethereum Gambling: Another big reason why gambling is becoming all the rage nowadays is it promotes anonymous gambling. Users only need to share their online wallet addresses, which they use for depositing and withdrawing funds anonymously.
Blockchain-Based Gambling Platforms
For close to five years, we continue witnessing a steady growth of internet-based casino gaming platforms flooding the market. A lot of these platforms incorporated Bitcoin into their systems, and players took to them like ducks to water.
However, with time, they become volatile and prone to hacking, to save their businesses, these gambling platforms are now incorporating the unhackable blockchain technology to remain afloat. Some of these platforms include:
FunFair: A gaming company that grants gamblers with white label casino elucidation thanks to blockchain tech. The casino offers fair and transparent gambling where all parties carry out a transaction and can see everything in real-time. One of the latest platforms to be powered by Fun Coin is CryptoCasino and you can read the full Crypto Casino review here.
TruePlay: A platform that relies on business-to-business distribution ledger to offer fool-proof gaming. By incorporating Smart Contracts software on bitcoin technology, transactions are expedited since third parties have been eliminated. The first casino set up that uses TruePlay technology is FairSpin.io so make sure to read our FairSpin review here.
Augur: another platform that utilizes blockchain technology wholly to drive gambling activities. The gambling site is decentralized fully and uses Ethereum (Ether) as it’s go-to cryptocurrency. Punters on this platform are also allowed to make predictions using the coin’s rising and falling prices. For further information read our Augur review here.
Blockchain tech will be the overall software driving all future gambling transactions. Even though we are barely scratching the surface when it comes to this tech, we will soon be able to get over the underlying obstacles as its use extends further. Ethereum could hold the key for providing the platform to design the perfect casino and decentralized sports betting sites. It is better suited than Bitcoin and with many developments happening it will help to further speed up transactions which are key when it comes to online gambling.