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Why You Need to Understand Solidity to Invest in Blockchain – by Fueled.NYC

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In the cyber world of bitcoin, Ethereum is often thought of as a competitor. However, that’s not exactly correct. Ethereum is indeed used for transactions similarly to Bitcoin but is much faster and less expensive. Ethereum provides an amazing smart contract functionality. The PCP Ethereum cloud is used to run blockchain apps. The idea behind this type of blockchain development for everybody to be able to create and execute their own apps easily. Smart contracts are a specific type of app which is written using the programming language, Solidity.  These run atop the Ethereum Blockchain. What’s so great about Smart Contracts? They can be used for designing nearly any type of program whether it is for a financial institution or to creating a betting app. A smart contract can be used for anything involving transferring a value.

In Solidity, just like other computer languages, a smart contract consists of numerous functions. These are triggered by events. The function then transfers value or another pre-defined event in a separate smart contract, or it can interact with online information. Of course, the significant difference in smart contracts is the concept of multi-signature. In a perfect democracy, a good analogy would be voting where every user of a contract is allowed to vote for A or for B, and if there are enough votes for A then function A is “called.” Otherwise, B function would go into action. Ultimately, this is the projection of a social process incorporated into blockchain and intended for reaching a consensus for a fact.

 

Blockchain and Solidity Development

To better understand blockchain development, it’s important to gain a workable understanding of Solidity. The simplest definition is that it is a static-type programming language. C++ and Java are also statically-typed programming languages meaning they go through a process of enforcing and verifying the different limitations and constraints of type.

Solidity development began to create smart contracts which are executed through the Ethereum Virtual Machine or EVM. The best explanation is that it is a specific language which initiates smart contracts, processed them and verifies them. It’s a process which can’t be refuted or reversed.

 

Investing in Blockchain Technology

A good understanding of Solidity can help those who want to invest in blockchain technology or potentially make other investments in cryptocurrencies. Solidity is used to create smart contracts. But, what does that mean? Simply put, a smart contract exists between two people, such as a buyer and a seller. However, there is no currency needed to initiate a smart contract. Perhaps it is files or data that is transferred to execute a smart contract. The most important thing to know is that once a smart contract has been executed, it cannot be revered. They make up part of the network of blockchains. Once they are in place, they are permanent.

If you desire to get involved in blockchain, it’s best to learn more about Solidity and then branch out from there. Once you understand the language and actions of Solidity, it’ll be easier to make investment choices on blockchain. Blockchain development is only going to widen from here, all that’s left is to decide if you want to be a part or not.

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Kansas Lottery posts positive revenue reports

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Kansas Lottery posts positive revenue reportsReading Time: 1 minute

The Kansas Lottery reported impressive figures for the fiscal year 2018. The results almost match the all-time combined transfer record for traditional lottery and casinos.

The state of Kansas received through the sale of traditional lottery games US$74.7 million in revenue. The four casinos with state-owned and state-operated gaming also totalled US$89 million in revenue. Combined, traditional lottery and casino revenue totalled US$163.7 million transferred to the State in Fiscal Year 2018, slightly below the record combined transfer of US$163.9 million in the fiscal year 2016, WIBW News reported.

Traditional lottery sales in FY18 were US$283.2 million, 4.3 per cent ahead of last year’s sales of US$271.4 million. “I’m grateful to our retailers, staff and players for the good year we’ve had,” said Kansas Lottery Executive Director Terry Presta, and added: “Instant tickets continue to grow as our biggest category. We are up in the two big multi-state jackpot games Powerball and Mega Millions, and sales show players are enjoying our new games, Lotto America and Lucky for Life.”

“While I’m very pleased with this year’s results, it’s next fiscal year that’s going to be the real game changer,” continued Presta. “The Kansas Lottery hopes to have vending machines in stores sometime next calendar year, and our new partner Scientific Games is providing us with a brand new state-of-the-art gaming system with incredibly fast terminals and a whole new central system that’s scheduled to go live at the end of this month. These changes will help create revenue next year and in years to come.”

 

Source: focusgn.com


Source: European Gaming Media Latest News

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Three Casinos line up for Pennsylvania iGaming license

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Three Casinos line up for Pennsylvania iGaming licenseReading Time: 2 minutes

Three casinos – Parx Casino, Mount Airy and still-to-start Stadium Casino – have submitted their application for a Pennsylvania iGaming license.

Parx Casino Bensalem became the first land-based “Main Certificate” holder in the Keystone State to apply for a Pennsylvania iGaming license, according to a report by Jessica Welman of PlayPennsylvania.

Within hours, two other casinos – Mount Airy and the yet-to-be-built Stadium Casino – also submitted their applications to the Pennsylvania Gaming Control Board.

Welcome News for Pennsylvania Online Poker Players

Pennsylvania online poker players will be happy to learn that Parx Casino parent company Greenwood Gaming & Entertainment “wants all three interactive gaming licenses” (online slots, house-edge table games and poker) that are being made available by the state.

The total cost for the three licenses will be $10,000,000 USD.

Deadline to Receive Discounted Pennsylvania iGaming License is Sunday, July 15th.

There had been plenty of nerves from iGaming analysts and customers in the Keystone State leading up to this weekend, as land-based casinos held off until the last possible moment to apply.

Pennsylvania’s ginormous 54 per cent tax rate for online slots is a contentious issue with incoming operators who believe it will be hard for online businesses to turn a profit in PA.

There are also other issues dealing with PA Lottery games crossing over into the realm of slot machine mechanics, as well as doubts as to how consumers will perceive branding restrictions that mandate all iGaming services in the state be hosted on websites that clearly identify existing land-based Main Certificate Holders.

Pennsylvania brick & mortar casinos will still be eligible to apply for iGaming licenses following this Sunday, but will not receive a discounted rate of $10 million for all three licenses – and instead will have to pay $4 million for each.

Will Pennsylvania iGaming License Holders Begin Operations in 2018?

There has been much speculation as to whether real money online poker, slots and house-edge table games will be available to Pennsylvania residents and tourists before the end of the calendar year.

While this remains a distinct possibility, it will depend on how quickly the licenses from Parx, Mounty Airy, Stadium (and potentially other PA casinos) are approved by the PGCB.

Many poker players who already compete in regulated Nevada, New Jersey or Delaware games are also asking if Pennsylvania will eventually join the tri-state online poker compact that combines player pools in those three states.

 

Source: parttimepoker.com


Source: European Gaming Media Latest News

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William Hill makes a strong start in New Jersey

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William Hill makes a strong start in New JerseyReading Time: 2 minutes

William Hill has made a “great start” in New Jersey, as more than $16m (£12.2m/€13.8m) was wagered in sports betting during the first two weeks of its entry.

William Hill started out in New Jersey at Monmouth Park racetrack on June 14. The Borgata casino in Atlantic City went live on the same day while William Hill’s Ocean Resort sportsbook began trading on June 28.

Figures released by New Jersey’s Division of Gaming Enforcement show that a total of $16.4m was wagered between June 14 and the end of the month. Operators retained 8 per cent of the amount wagered, which would be around $1.2m.

Gross sports betting revenue was nearly $3.5m, with Monmouth Park bringing in $2.3m, the Ocean Resort contributing $193,000 in just three days of operations and the Borgata accruing $987,000.

William Hill US chief executive Joe Asher (pictured) said the figures show the “big appetite for legal sports betting” in the US.

“While it’s still early, we’re obviously off to a great start,” Asher said. “We always knew there was a big appetite for legal sports betting during the years of litigation, and now it is being proven.”

“We are proud to be creating new jobs in New Jersey and bringing excitement to our customers. We can’t wait until football season.”

Total gaming revenue in New Jersey increased by just over 7 per cent year-on-year to $233.6m, with sports betting aiding other gaming verticals according to Seeking Alpha’s Charles Schultz. “The extra traffic presumably helped in other gaming areas,” he said.

Meanwhile, two Ohio lawmakers are sponsoring a bill to legalise sports betting in the state.

Sean O’Brien told Cleveland.com he would like to have specifics in the bill by August or September. Ohio is the seventh largest US state by population with 11.5 million residents – three million more than New Jersey.

 

Source: igamingbusiness.com


Source: European Gaming Media Latest News

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