(Decent) Decentralized Casino Games
Since the introduction of the world’s first online casino in the mid-1990’s, the industry has been fraught with regulatory tightening. Measures such as customer due diligence controls and enhanced player protections have been good in one sense, however many believe that it has hindered the industry’s ability to transition in to the era of digitalization. However, the growth of cryptocurrencies and more importantly – their underlying blockchain protocol, has created a range of opportunities for new and exciting gambling streams. Although the technology is still in its infancy, there are a variety of interesting decentralized casino games to consider.
The rules of their decentralized casino games are simple:
- Fuel your rocket 🚀 with some Ether by placing a bet before each round.
- Once the round starts, watch the multiplier grow from 1x to infinity.
- Cash out before the rocket crashes (randomly each round) to win your bet multiplied by that multiplier.
- But beware! If the rocket crashes before you cash out, you’ll lose your bet.
Each crash point is randomly generated by a hash chain whose seed itself was randomly generated. Once created, the hash chain and the crash points cannot be tampered with by anyone. You can verify that each random crash point belongs to the Moon3D hash chain, by inputting any game hash here.
Key Features of Moon3D
- Fast and dynamic gameplay — Each round happens quickly, which is why you can play the game as dynamically as possible. Would you cash out now, in 1 second, in 0.1 second, or in 0.01 second? It’s the thrill!
- Round bonus system — Players can compete over the round bonus pool to beat the House Edge! The last three players to cash out in each round are awarded a round bonus. This round bonus pool holds 1% of all wagers made in that round.
- Referral bonus system — Refer your friends, and earn a 15% Profit Share on that player forever. Share the fun!
- Futuristic UI (and constantly improving!) — Our UI upgrade is coming very soon, so please stay tuned!
Stake.com.com is an online casino that specializes exclusively in decentralized casino games. The website was launched as recently as 2017 and is backed by the same team behind Primedice. Stake.com make some rather bold claims, promoting themselves as the “most fair and transparent online casino in the universe”.
To ensure that Stake.com justify their claims of being a transparent casino, each and every gaming outcome can be independently verified by provably fair technology. This allows Stake.com to prove to its players that the outcome of each game is out of their control, and cannot be manipulated internally in any manner.
Arguably one of the best features of the crypto casino platform is the lighting quick transactional speeds. Deposits are ordinarily confirmed within 10 minutes, and withdrawals most commonly reach a player’s wallet within 24 hours – however often sooner. This could not be more dissimilar from the methods employed by traditional fiat casinos, insofar that players have to submit countless amounts of documents before their request is processed. Even then, players will often have to wait days, if not weeks for their funds to reach their account.
Using the power of the Ethereum smart contract, Edgeless is introducing the Ethereum-based Online Casino which offers ZERO edge for its players and 100% transparency. Edgeless has been pioneering decentralized casino games while trying to offer a competitive product.
The random number generator is based on an Ethereum Smart Contract which is completely public. This means that everyone can see everything that is occurring inside the servers of the casino.
0% House Edge
The casino offers games that are solely based on skill and luck. If played perfectly, people will have a 0% edge gambling experience. However if players make mistakes; the casino will profit in the long run.
Edgeless has a Curacao casino license which includes: strict terms and conditions, responsible gambling information, account registration as well as other needed requirements to fit into a legal framework. In this way, they support legal and responsible gambling.
Instant Deposits & Withdrawals
Instant and cost-effective cryptocurrency transfers will provide instant money deposits and withdraws for the customer, while regular casinos hold your money for 1 – 3 days before remitting it to you.
Smart Contract Games
When Bitcoin was first launched in 2009, it was with the sole purpose of providing a decentralized financial system with no central point of control. However, the founders behind Ethereum – the number two cryptocurrency in terms of market capitalization, wanted to take things beyond just monetary transactions. As a result, their blockchain allows people from anywhere in the world to create and enter in to smart contract agreement. In a nutshell, a smart contract is a way for people to transact on a trust-less basis. The contract is based upon pre-defined conditions that when met, allows the contract to execute in an autonomous manner.
This technology could potentially revolutionize the online gaming industry as it would allow both the player and backer to engage in decentralized casino games without needing a third party. An example of this is the sports betting sector. Once the player has selected their bet, the terms of the agreement are then installed within the smart contract. An underlying protocol known as an ‘Oracle’ is then able to independently scan thousands of trusted sources and determine the result. There can be no act of malpractice from either party of the funds are subsequently locked in to an immutable escrow that cannot be manipulated. Therefore, there can be only two outcomes. If the player is successful the winnings are automatically released to their wallet in a matter of seconds. On the contrary, if the bet is unsuccessful, the funds are released to the backer.
An additional piece of technology that was initially made possible by the creation of Ethereum is a decentralized application – otherwise known as a dApp. A casino built on top of a dApp works in a similar way to the current fundamentals of an online casino, however there are some key differences. Firstly, a dApp is decentralized, meaning that it has no central point of control. Essentially for changes to be made to the network, the majority of the Ethereum (or whichever cryptocurrency it is) must reach consensus.
As a result, an online casino could potentially function without an actual operator. Instead, players have the opportunity to transact directly with the gaming provider. For example, if one were to play roulette through a decentralized casino games, the smart contract would ensure that each and every gaming outcome was true and fair, which would then feed to the interface of the dApp. At the end of each roulette spin, the player would automatically receive their winnings or alternatively, the funds would be released to the bankroller.
A critic might argue why such a transition is required. Ultimately, the underlying blockchain technology ensures that each and every gaming outcome can be independently verified for its legitimacy. Moreover, as each outcome is cryptographically generated, it is beyond impossible for backers to amend, alter or change the outcome of a game. In the long-term, it is highly feasible that major operators will be a thing of the past. Instead, by combining both smart contract and dApp technologies, practically any gaming developer can set up shop in a trust-less environment.