Online Casino Operating on Blockchain Technology?

If a global virtual currency can be operated on blockchain technology, surely an online casino could too, right? That’s exactly the thought behind DAO.Casino (Decentralized Autonomous Organization.Casino). First virtual currencies, now the public harnesses the power to run our own.

Not a casino platform

First things first, despite the word ‘casino’ in the name, this is in no way, shape or form, a casino platform. In fact, it’s “actually a protocol for gambling industry. It’s an automated value distribution system acting as an mechanism of incentives and expressed in a system of Ethereum contracts”.

Provably Fair

Are you following this? No? Let’s drill down further. If you’ve ever wagered on games via an operator with a Bitcoin platform such as SOFTSWISS, you’ve probably encountered the term ‘Provably Fair’. What is it and how are bets proven to be fair? On a slot game, for example, the operator will display the details of a bet, which, in this case, is the tracking information before and leading up to the result. It’s often referred to as a digital fingerprint. With DAO.Casino, every aspect of the system, including random number generation, can be tracked by code in a similar manner.

Take ownership and receive higher payouts

All that mining business that occurs in the blockchain ensures you get rewarded for doing the work of adding transaction records to the ledger. Contributors are rewarded by the system and the same is true here. Much like virtual currency, there are no middle men earning something for nothing. Games are delivered to players eliminating licensing fees and all the other costs associated with running a gambling operation. These and similar factors mean increased payouts for you as compared to traditional online casinos.

For more information, get it straight from the source at the Dao.Casino website. There’s quite a bit to this system, so let it marinade and tell us what you think. Could this be successful and would you be willing to give it a whirl?

Source:

‘Breaking the Two Most Common Myths about DAO.Casino’, medium.com, May 31, 2017