The latest innovation, which the iGaming scene features is the so-called Minimum Viable Product (MVP), released by Dao. Casino on 20th June, aiming to eliminate the third parties, which were used to serve as mediators in the communication between the industry-involved participants and thus, improve the notion of transparency.
The cutting-edge technology is powered by Ethereum blockchain. The casino builds its protocol on the Ethereum blockchain, enabling the so-called peer-to-peer network. This, on the other hand provide equally privileged peers to serve as a server for each other, sharing files and information with each other. Therefore, the presence of a third party to establish a communication channel between the peers is not needed, as the involved participants will interact via Ethereum blockchain.
The product includes various information about the users’ accounts, a dice game contract, referrer contract as well as reward contribution contract. Thus, the users can be sure in the fairness and transparency of every game, as a result of the blockchain technology.
The underlying Ethereum blockchain enables a decentralized application, which does not need a third-party verification. What is more is that the blockchain utilizes a special algorithm to eliminate any doubts in the possible manipulation of the games of chance.
Thanks to the blockchain technology, the online gaming industry will establish a fair-play environment, which is way more flexible and faster. Technology experts explain that this is a better-incentivized ecosystem than the existing software models and it will be well-incorporated in the iGaming sector.
According to Ilya Tarutov, Dao.Casino Founder and CEO, Ethereum blockchain is one of the best technologies, which opens an entirely new perspectives in front of the online gaming industry. Dao. Casino’s protocol invites all industry-involved people, including players, casino operators, random number providers, game developers to participate in the creation of the biggest peer-to-peer network (P2P) and involve in the distributed-system technology, that will make the dream about distributed data come true.
The funding from the Token Distribution Campaign will be used to further develop the protocol. The representatives from Dao. Casino explained that the participants are not required to have in-depth knowledge in the technology in order to support it.
In a nutshell, the whole idea behind the Ethereum blockchain is to eliminate the need of a third-party trust, which was ineevitable up to now in order to guarantee for the randomness of the games. However, these third-parties are replaced by the blockchain technology, which includes different Ethereum contracts.
The system eliminates also any possibilities of manipulating the games. The players’ most feasible advantage from the incorporation of such technology is the higher payouts, which will be possible due to the reducing the overheads expenses. This is the most forward-thinking innovation, which the iGaming industry has witnessed in the recent years, said to rocket it to an entirely new level.