Blockchain is typically applied in crypto trading networks, however their uses recently moved into online casino industry as they offer better security, faster payment and transparency for online casinos.
Blockchain casinos bring you proven fair play which builds trust in the players. Some even have voting systems for members.
Decentralization
Decentralization means sharing of data so that the internet becomes secure and transparent and the community is more open and collaborative for players to ask for help, solutions or feedback.
Casino Jackpots are always honest and are backed by quality software providers who do have high standards and regularly tests their systems so that players trust it and the platform is solidified.
Crypto casinos use RNGs to keep things fair while playing and VPNs and security measures to keep the algorithms safe and player payouts real.
The Blockchain technology can be used to secure and transparently oversee jackpot pools, so players can be sure that they are correctly registered and distributed. Secondly, blockchain allows customization of these games for an immersive gaming experience – crucial for live roulette where the stakes are higher and you cannot afford to get scammed.
Transparency
For casino gambling, transparency helps build player-casino trust. And the players would rather know that their bets were won using real odds, and not manipulation or any other kind of cheating; and open payouts make it easier to make a smart decision on how to bet.
The other business benefits of blockchain technology, apart from the transparency, are endless. For instance, it removes middlemen and accelerates, all while reducing transaction costs and ensuring security – while also offering live data feeds.
Blockchain is making casinos work differently, by giving open and unaltered records of bets, deposits and withdrawals – audited by 3rd parties and random number generator (RNG). That helps to give players the comfort of knowing that their games are fair – and there are lots of good casinos that have high licensing and regulations which add even more transparency and security to players.
Security
Blockchain is a record that can never be rewritten, and is meant to be authenticated by decentralization. Although known as a cryptocurrency transaction recorder (e.g., Bitcoin), its use cases go far beyond this small market segment. And it is indestructible: there are thousands of copies, spread across computers on the internet; even if one copy was ever modified, that change would immediately appear in all the others as a sign that something bad could have happened.
This two-layered security is not just effective against external attack but also from cyber attack. From market research, platforms that use blockchain have as much as 45% fewer hacks. This is why integrating it into the online casino sites is so beneficial for players as the use of this product will completely change how gamblers experience security and credibility and make it more transparent.
Privacy
Conventional online casinos maintain player data on centralised servers, which can be accessed through a hack; but with Web 3.0 blockchain-based casino, the player data is stored instead on distributed servers that are secured with cryptography, so there is no single point of compromise and it’s a lot safer.
Blockchain gives players a voice by providing an open, decentralized record of all transactions and games outcomes – so you don’t have to be suspicious about online gambling, you will get your perceptions of fairness altered.
Participation barriers in international markets are also removed from blockchain-based cryptocurrency accepting platforms. Costs of exchange and banking regulations are a barrier to global player adoption for decades. Cryptocurrency-based blockchain casinos break down this barrier so that Asians can participate in European jackpot casinos without conversion fees and regulatory rigours; their instant payouts also reduce wait times for real casino bonuses.
