In this post we will tell you how the Blockchain can help solve common problems faced by the online gaming sector.
What are Blockchain casinos and how do they work?
Blockchain casinos are becoming increasingly popular on the Internet and, if you just discovered the term, here is a quick accelerated course on what blockchains are and how blockchain casinos work.
The first thing you must understand is what block chains really are. Essentially, a blockchain is a digital book that is used to record online transactions that use cryptocurrencies. Transactions are recorded sequentially and are publicly available.
Taking this principle and the process one step further, we can apply them to gambling in online casinos. This gives the appearance of the so-called blockchain casinos, which essentially applies the blockchain technology to the online game. The result of this is that it gives online gambling a completely new level of transparency and credibility.
Possible problems Blockchain technology can solve for online casinos
To recap, the blockchain technology is constructed from neutral entities known as blocks. Each block is interconnected in a network that is known as blockchain. The way in which block chains are configured, any register (transaction) that goes through the chain, must have the correct value in each block. This results in a much higher level of equity (neutrality) and precision, as well as transparency.
One of the biggest problems associated with conventional online casinos is the fact that not all are on the same level. In other words, there are many online casinos where data, such as profits, game results, payments, etc., are deliberately concealed or partially hidden from public scrutiny.
However, blockchain casinos are a completely new class of online casino and are completely decentralized, with no need for an intermediary to verify transactions.This provides the best fair and transparent system for the online casino industry.
Many players do not realize the fact that playing in a casino is a great mathematical disadvantage and they literally have no chance of winning against the casino in the long term.
The term "edge of the house" describes the fixed percentage of money that the casino takes away from its players, on average. Therefore, as long as there is an advantage in the house and the players keep playing, they will never win in the long term.
The advantage of the house is in all forms of commercial play and it means that the more you play over time, the more you lose. You may be lucky in the short term, but the variation will soon do its job to return what "belongs" to the house.
How does Zeroedge Online Casino Gaming work?
Zeroedge is a new online casino based on cryptocurrencies with a difference. The unique platform uses its own cryptocurrency known as ZeroCoin, the only way to play the best casino games available at Zeroedge Casino.
The most exclusive (and one of its biggest selling points) is that Zeroedge Casino offers all players a true 0% house edge gaming experience.
This essentially means that all the casino games, such as roulette, blackjack and slot machines, available at Zeroedge Casino will not have any advantage for the house, unlike conventional online casinos.
With most conventional online casinos, players often face up to a 10% advantage at home in many casino games. The reason for this is that this is the only way that a conventional online casino can make a profit, accumulating the odds in its favor.
Zeroedge eliminates the dreaded edge of the house because it does not profit from the losses of its players. Instead, Zeroedge is focusing on generating profits from the increase in the value of ZeroCoin, which increases due to the demand for games with a 0% advantage.
In short, the ultimate solution to the problem is to create a platform where games are "free". Players are not required to pay a fixed amount to play in the casino.This can only be achieved by creating a closed cycle economy with its native token.
By limiting the supply of token, its value is directly proportional to the demand. This model allows to offer games of 0% border of the house and to be a viable commercial model.
Details about the Pre-ICO and ICO dates
The Pre-ICO is scheduled to begin on February 28, 2018, ending on March 15, 2018. While there is no minimum established during the Pre-ICO stage, the rigid cap is set to 1,000 ETH.
For more information about the project and its ICO you can visit the official site of Zeroedge .