The Fairspin casino example shows that combining classic casino games with blockchain-powered transparency is possible.
The online gambling industry has seen a lot of developments in recent years, especially with the adoption of new-age technologies like blockchain and cryptocurrencies. As the industry diversifies, there are now different kinds of online platforms, each with its own set of benefits and drawbacks.
Currently, there are three major types of online gambling platforms using cryptocurrencies. The simplest of all are crypto casinos, which are nothing but regular casinos of the last decade that now accept cryptocurrency deposits. And then there are gambling dApps that are completely decentralized gambling solutions built on a blockchain. The last kind is the one that tries to combine the best of both worlds — traditional, non-blockchain games and blockchain-based transactions.
When it comes to crypto casinos, there isn’t much innovation as they are just regular gambling platforms with cryptocurrencies as an additional deposit option. However, gambling dApps and classic casinos with blockchain integration are different and more technologically advanced. Each of these makes use of blockchain technology in different ways to solve a few problems that have been plaguing the online gambling industry. While both solutions have their strengths, there are drawbacks too that can affect a user’s gaming experience. Read More...