• DAO.Casino Provides Provably Fair Casino Experiences

    18 June 2017

    Dao casino provides provably fair casino experiences

    In the industry of online casinos, which accounts for about 10 percent of total legal gambling in the world, there are a number of technological issues that have to be overcome. One of those is proving fairness on the behalf of the casino, and DAO.Casino is using a technique that could change the way the industry and regulators look at this aspect of the industry. They're using Ethereum blockchain technology, similar to that used in cryptocurrencies like bitcoin, to provide provably fair play through a decentralized business model.

    Why a Decentralized Approach Works

    The basic idea of this model uses two key ideas. The first is that a blockchain works as a public record of individual transactions for a particular platform: in this case, Ethereum. The second is that, without a centralized and private point of recording these outcomes, there is a higher level of transparency at DAO.Casino. The math used to provide the results of the games is essentially there for all to see in a public space, and this removes the need to trust third-party regulators or auditors.

    Random Number Generator Issues

    Of particular interest is the ability for Ethereum blockchains to decentralize random number generators. This is such a key idea because RNGs now are under extreme levels of security to maintain the integrity of the games, and this security costs a lot of time, effort and money. If none of that was necessary, then it would save money for the casinos, which in turn would give them a strong advantage over the competition. In short, there are some very serious economical and competitive advantages to trying this technology.

    About Ethereum

    Ethereum works much like a cryptocurrency (eg: bitcoin casinos), but it's typically used in systems as a measurement of work that can be done. In this way, it works a bit differently than bitcoin and other related cryptocurrencies, but the basic idea is similar, and the technology used in its blockchain is of the same type. These are some interesting innovations that are being made here, and they have a lot of potential if they can catch on.

    Sources

    Chris North, Provably Fair Gambling Through Blockchain Technology gamcrowd.com, May 30, 2017


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