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Bethash - Decentralized EOS based gambling platform

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kadjar
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4 months agoSteemit6 min read

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Gambling is one of the oldest recreational daily activities in the history of humanity. Its most primordial records date all the way back to the Paleolithic era. The earliest six-sided membrane, the one we know today, has been traced back to Mesopotamia some 6,000 years ago! It’s how many Roman soldiers liked to pass their spear time, betting their hard-earned coins against each other for pleasure, and for the chance to end the day with a heavier coin pouch.

Shuffle back to modern day and we see that gambling has enhanced in uncountable ways. Several new game forms have entered the wear and a whole huge industry has been built around figurative games like the roulette, poker, sports betting and many others. The Internet helped encourage this to an entirely new level with firms being able to offer players the chance to bet on anything they like from the comfort of their own base. The on one's mettle use of mobile devices further contributed to this juvenescence.

In addition, there is another issue that we know for certain. That is, the gambling industry grows more and more over the years. Because gambling is no longer only played in Las Vegas or Cyprus anymore. With the development of technology, it can now be played over the web or mobile applications.

But the point is that we still have to overcome many obstacles to gamble. Because both states and companies put obstacles to this. These include security, regional barriers, problems of centralization, and more.

Solving these problems will not only help people to live more freely but also contribute to the economy. The chart below shows the change in the gambling industry over the years.

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So what can we do? I think the phenomenon that offers the most realistic solutions to this is blockchain technology. Blockchain technology is decentralized, untraceable and unlimited. That's why gambling and blockchain technology is like a medallion created for each other.

EOS + Gambling = Big Potential

The world’s regulated gambling industry is approximative to be worth $468 billion in 2019. This translates into $62 per year for the whole person in the earth. implausibly, this figure accounts for only organized gambling revenues. By some approximative, grey and black market gambling is worth up to 10 times the size of the organized sector.

Digital assets — in particular, Bitcoin — have a special connection with gambling. Already in 2013, estimated 50% of Bitcoin transactions were gambling-related. This is due to the essence of the gambling industry and how the features of crypto money fit into it.

There are different projects within the blockchain technology. The Bethash project, which I will talk about in a moment, is a project that gamblers will really love.

Along with the problems in the gambling industry, I would like to give you some insight into how Bethash can create solves to these issues.

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Problems in the gambling industry and Bethash as a Solution:

Lack of transparency and Fairness

The serious lack of transparency and fairness is something that has afflicted betting and gambling boosters for a long time. Players have no option other than to trust the online platforms that they are not being enticed. This isn’t always the case, and there is hardly any way to check if the casino software algorithms are legal or not. If a player is particularly versed in what he’s doing when he’s even more deteriorated to see his or her winnings cut short by the settlement.

When people play and start betting, online casinos and games make money. There’s no money without users busying in the games. The final purpose of application blockchain is to keep customers. Before blockchain, there was no transparency and fairness on what actually happens “under the counter”.

The application of blockchain amendments the situation and makes online casinos confidential places for gambling. All of the records are kept on a digital ledger ensuring transparency and fairness of info.

Regional Barriers

Gambling is prohibited in most countries and especially in most regions. There are many reasons for this, political, religious or social. Online gambling sites other than blockchain projects often collect all the information of users. In addition to recording them on their systems, they sell this information to third parties. Especially phone numbers are something that is sold quite a lot to third parties.

In addition, other personal information, such as state numbers, names, surnames, and more, is obtained by online gambling sites. Therefore, it is not possible to gamble anonymously. But blockchain technology has another word to say about it.

Blockchain is the revolutionary behind glorious cryptocurrencies like Bitcoin and EOS. It is like a decentralized ledger data base that runs transparently in a distributed network of computers. It is also competent in running programs that perform under, and only under certain conditions or rules like smart contracts. It’s quite more complicated than this but think of Bitcoin and EOS as a fancy programmable form of money, and of blockchain as the data base of whole the transactions done with these cryptocurrencies.

Fraud Issues

Fraud has led to losses in every industry; the gambling sector is no exemption. When the system got hacked, customers can not only use their assets but also their personal data can be stolen.

Apart from this, non-blockchain based projects can be very troublesome in terms of payments. Payments are made in dollars or better-known fiat money, so they do not build a certain trust. They can refuse to send your earned money to your account. And they don't give you any assurance.

The disjunctive way of payment is one of the biggest advantages of blockchain offering rapid payments and ensuring the user’s intimacy. The gambling platform Bethash offers its customers payment with different cryptocurrencies deposits money quickly. The amount of assets able to be deposited is measureless and failed transactions are almost unfeasible. The costs for withdrawal and deposit are attenuated by the use of blockchain technology.

CONCLUSION

The Internet revolution has now begun to create sub-revolutions. The boundaries of the Internet are drawn by states, but the blockchain will not share the same fate. Blockchain technology is a much more liberal and independent technology. Gambling enthusiasts should also focus on crypto-based projects to take advantage of this freedom. And the Bethash project is a wonderful, fast and very reliable casino based on EOS.

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Fore more info please visit: https://bethash.io/

Note: This is not an advertising but project presentation. It is your responsibility to place bets.

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