The current market for decentralised applications (dapps) is incredibly small. It’s rare to see over 1,000 real daily active users on any given day, regardless of the blockchain or dapp in question. No dapp has been able to break through this ceiling for an extended period of time. Some applications receive a quick burst of popularity, like Cryptokitties on Ethereum, but fail to maintain the users or hype.
In our first year at EarnBet (formerly EOSBet), we have been intensely focussed on making the first truly decentralised application that is ready for mass adoption and accessible by anyone with any amount of cryptocurrency. In the midst of crippling CPU problems currently facing the EOS mainnet, we are confident in announcing that goal has been achieved.
Our casino has remained fully decentralised, and can be easily accessed by any interested player with an easy, one-click sign up system. Our systems have remained online through the entire CPU crisis, and we are confident that we will not have any downtime throughout this severe EOS network congestion.
Through a 100% on-chain smart contract, users are able to securely deposit funds and place bets. Users entirely control the private key to their funds, and these funds cannot be touched by anyone, including the EarnBet team. All bets are processed through our game smart contract in a fully decentralised and trustless fashion.
For the first time in the history of decentralised applications, users can sign-up and play as easily as a traditional application while remaining 100% decentralised, auditable, and fair. EarnBet is committed to keeping the “decentralised” in dapp while becoming the first dapp to reach mass adoption.
Yes, we pioneered the dividend token model and new economic incentive systems like behavioural mining, but we shouldn’t lose sight of the fact that the most significant benefit of blockchain tech is the trustlessness and immutability that comes with decentralization.
This is similar to the vision Block.one has with the EOS 1.8 upgrade. Applications can now pay for their user’s CPU and network resources. Through our custom-built account smart contracts, we do the exact same thing and users don’t even need to have an EOS account at all! Even though users don’t have an EOS account, they still have a private key that controls their funds. They can broadcast transactions with this private key, and our account system smart contract enforces that only users with this private key can move their respective funds.
To sign-up and receive 50 free BET tokens, visit: https://earnbet.io/register
Users can also deposit Bitcoin, Ethereum, Litecoin and Bitcoin Cash into their EarnBet account. Users who deposit BTC, ETH, LTC, or BCH are issued a fully on-chain EOS token which is 100% backed by the respective cryptocurrency. These eosbettokens are then used for betting through our game smart contracts, and work identically as if someone placed a bet in EOS. All game logic is on the blockchain, and the fairness of the game result is ensured by the EOS mainnet.
Unfortunately, our competitors have very different strategies to keep their systems online during this CPU crisis. Other platforms have simply decided to bring their game logic and systems off the EOS blockchain. These platforms have decided to turn into traditional applications, and have abandoned any sense of decentralization. By centralizing their game logic, bets no longer take place through smart contracts. There is zero auditability and transparency in these centralized applications, as other notable EOS commentators have mentioned.
We respect the other platforms on EOS because competition makes everyone improve and enhance their applications for users. However, these decisions to move off chain are harmful for the EOS ecosystem and for the blockchain community in general.
When using an EOS account to log into an application and begin betting, one would assume the application is decentralised and 100% auditable, with fairness ensured by verifiable smart contracts. This is not the case with most platforms, which have instead decided to use the EOS blockchain merely as a “log in” system, and entirely centralized their applications.
The EarnBet team respectfully asks these teams to reconsider their actions. As avid EOS and cryptocurrency supporters and holders, we are committed to a decentralised future. The lack of transparency, especially in gambling applications, is a massive problem in the industry. Since our inception, we’ve sought to fix this, and we hope that everyone building EOS applications shares this vision.
We’d even be happy to assist other platforms and dapp developers in making their applications fully decentralised. The development isn’t easy, but it’s worth it in order to assure users of fairness and transparency.
EarnBet.io is committed to decentralization, are you?
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Disclaimer: EOSBet.io is owned and operated by Aurora Tech N.V., a company registered and established under the laws of Curaçao, registration number 148186, and registered address at Ambraham de Veerstraat 7 Willemstad, Curaçao. Gambling License: GLH-OCCHKTW0711072018. No U.S. or Chinese players. All players must follow the laws in their jurisdiction. Must be 18 years or older to play. BET tokens have no rights, uses, or attributes.
