Blockchain
Blockchain-Based Approach to Change iGaming Industry
What has been the biggest user concern with online casinos? No doubt, it’s trust. Players have to trust the casino with their money, but they can’t make sure the casino is honest with everything, from filing small wins to paying out big jackpots. This issue has not been sufficiently dealt with for many years and there wasn’t a complete solution to make online casinos trustworthy enough for clients.
The blockchain approach is exactly what the industry needed for a while. Using blockchain to write down each casino’s transaction makes entertaining platforms transparent, therefore, attractive to players. And what happens when players find out there are in fact both trusted casinos and old-style, less transparent casinos? They’ll never go back to traditional, untrustworthy ones. Therefore, the blockchain approach will soon be compulsory in the iGaming business.
While creating a whole blockchain casino from scratch is difficult and expensive, there’s another way to make the existing casino trustworthy for players. Trueplay addressed this problem and offered a great idea to iGaming – a blockchain-based iFrame widget with tokenized loyalty programs.
What does it give to players?
- An opportunity to get rewards in crypto tokens — a more interesting modern offer compared to traditional in-game bonuses
- A reason to trust the casino. With Trueplay every transaction is stored in the blockchain, which means no one can edit anything. Players can see and verify each transaction in real-time, without the need to request any information from the online casinos.
And how do online casinos benefit from Trueplay?
- Boosted average deposit per player
- Higher time spent on the platform
- Better user engagement and retention
- Players’ trust
How does it work?
- Operators create their own crypto token and add the Trueplay widget to their platform. It takes no more than 48 hours.
- Players start receiving tokens for certain actions on the platform like making bets or staking tokens.
- Players can verify any transaction through the transparent blockchain explorer and make sure the casino works honestly.
- Players trust the casino’s brand, play more, spend more, and invite referrals.
You can see how the Trueplay widget works or book a call to get a personalized specialist who’ll show all the advantages of the blockchain solution.
The idea of switching online casinos to a blockchain is not new. Everyone believes in the bright future of the industry. But the solution to implement tokenized loyalty programs in less than 48 hours is something truly innovative.
Trueplay offers all the perks of blockchain transparency without the need for existing casinos to break the bank by investing a fortune. It’s an easy and ready-to-go solution that requires minimal effort from the operator’s side and no investments.
JuicyBet, a Web3 startup, announced the launch of its GambleFi platform. This platform combines finance technology and gambling via blockchain to create unique opportunities and experiences for users. The company strives to revolutionize the principles of the online betting industry and the interaction between platforms and users in this market.
What is GambleFi?
GambleFi uses blockchain technology to ensure the fairness and transparency of games and betting outcomes and for players to get their share of the platform’s earnings and participate in its governance and day-to-day by holding its tokens.
How JuicyBet works
JuicyBet fully utilizes blockchain technology to establish a new ecosystem that has never been seen in the gambling industry. It is centered around user participation and transparency while providing gambling thrills and quality entertainment.
All game records on the platform are kept in a public blockchain, while a set of smart contracts automates gaming outcomes and payouts and provides for the platform governance via the DAO model. This reduces fraud risks and operational costs, making JuicyBet a more efficient platform.
However, the platform’s main feature is the unprecedented level of user engagement via the platform’s native tokens.
- First, the tokens provide access to betting.
- Second, token holders get their share of the platform’s profit.
- Third, token holders can vote on key decisions on the platform’s development in JuicyBet DAO.
- And finally, DAO participants can also perform the role of oracles for bets and earn rewards.
In other words, JuicyBet doesn’t try to be just another gambling platform. It establishes a new ecosystem where users are in control of the platform and bets and are the beneficiaries of the platform.
In addition, JuicyBet offers additional earning opportunities, such as Double Farming and staking for token holders.
JuicyBet has already been noticed by users and investors – the platform’s 3-month turnover has exceeded $1,5 million, according to on-chain data available via Dune, and multiple centralized exchanges and launchpads have listed it.
Kore Digital Mining Ltd, a UK based Bitcoin mining company, announces that effective 1st May 2024, an additional 14 PH/s mining capacity will be added to its existing infrastructure.
This additional capacity will be provided by a major Bitcoin mining corporation and will be operational until 30th June 2024.
Derek Nisbet, Kore’s Founder & CEO, said – “We are pleased to work with a leading Bitcoin Miner in securing a large amount of mining capacity, for a 2 month trial period. We look forward to hopefully extending this period and engaging more with major mining corporations offering Bitcoin hashing opportunities, in the future.”
This additional 14PH/s Bitcoin mining capacity adds to the existing 2 PH/s currently operational with Kore’s own infrastructure and an additional 4 PH/s is due to be added over the next quarter, totalling 20 PH/s.
The post Kore Digital Mining Ltd Announces Additional 14 PH/s Bitcoin Mining Capacity appeared first on European Gaming Industry News.
Blockchain
HIPTHER Announces Major Expansion into Fintech, Blockchain, and AI, Reinforcing Its Position as a Diverse Industry News Leader
Building on its established success in the gambling and iGaming sectors, HIPTHER Agency is excited to announce a significant expansion of its editorial focus into three dynamic industries: fintech, blockchain, and artificial intelligence. This strategic move is part of HIPTHER’s ongoing commitment to providing comprehensive, in-depth coverage across a spectrum of industries, including virtual reality, esports, and official global government releases.
Focused Expansion for a Diverse Audience
The expansion into fintech, blockchain, and AI represents HIPTHER’s dedication to staying at the forefront of technological and financial advancements. By integrating these sectors into the HIPTHER .com platform, the agency offers its audience a rich, diverse content experience, positioning itself as a one-stop destination for insights across these cutting-edge fields.
Enhanced Digital Presence and Accessibility
Complementing this expansion, HIPTHER continues to enhance its digital footprint. The agency’s Android app has already established a strong user base, and with the anticipation of an iOS app in 2024, HIPTHER is set to broaden its reach and accessibility. The agency’s social media channels are also being rebranded to reflect this expanded focus, ensuring a cohesive and comprehensive digital experience.
Unwavering Commitment to Quality and Insight
HIPTHER, known for its high-quality content in the gambling industry, extends this commitment to its new sectors. The agency’s team of experts and seasoned journalists is dedicated to delivering insightful, accurate, and timely information, catering to the needs of a diverse, global audience.
Zoltan Tundik, Co-Founder and Head of Business at HIPTHER, states, “Our expansion into fintech, blockchain, and AI is a natural progression of our mission to provide diverse, in-depth industry news. We’re excited to bring our expertise and quality content to these vibrant sectors, while continuing to serve our existing audiences with the coverage they trust.”
For more information, please visit HIPTHER.com
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