The Blockchain-based platform will help to avoid the fiscal issues and provide high levels of transparency.
The project’s goal is to provide fast, safe and easy access to gambling. It can be used in countries where conventional casinos are not legal. The project’s uniqueness lies in the use of technologies like decentralized systems and smart contracts.
Like conventional casinos on the Internet, Blockchain Casino has its own currency which can be exchanged for Bitcoins or other cryptocurrencies.
Let’s know about Blockchain Casino in more detail
The project is a combination of a casino and cryptocurrency trading platform developed on blockchain technology. It has its own currency which can be exchanged for Bitcoins or other cryptocurrencies. The gambling process includes placing bets on such traditional games as roulette, blackjack, dice without registration or identification by using smart contracts. The gambling process is decentralized and works through a peer-to-peer network. This platform has many benefits over conventional casinos, for example, it doesn’t depend on the operator’s honesty and provides high levels of transparency. Moreover, this project can attract new players from developing countries because it offers betting without identification or registration in demo mode. Another notable difference between Blockchain Casino and traditional online casinos is the possibility to place bets without registration or identity verification.
The project makes it possible to place bets on games but does not provide the rights of receiving winnings, which can only be received if a user has Bitcoins or other cryptocurrencies. Although there are different options for accessing this platform: you can play using virtual coins (the project offers its own coins), or you can spend Bitcoins or other cryptocurrencies to deposit your account.
The project does not store your financial information and the transactions are processed in a decentralized system.
So, users do not need to worry about their privacy and safety. All information about transactions at crypto gambling is stored in the blockchain that allows to trace them.
Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.