The evolution of gambling is bringing up the unimagined revenue to the imagination in the world. The global gambling industry has been growing at a good rate in the recent years. Companies all over the world are launching different kinds of the gambling institutions, thus online gambling industry prospers and attracts lots of people. But the main problems of unknown algorithms of game process and results verification are still actual. In such a case cheating comes not from the user, but from the logic of the centralized system in online games. While DICEGAME platform with the use of the smart contracts on the blockchain technology provides access to all game algorithms. We develop smart contacts with its own behavior that meets the conditions of games on the DICEGAME platform in order to trigger different events: determine dice values, choose the winner of a game, transfer the prize, create transactions. Let's look closer at our solutions to the existing problems developed to achieve fair play in the transparent iGaming industry
Lack of understanding in a game process, lack of fair-dealing and transparency, unknown formulas of combinations drawn and winner determination can cause lack of user's trust.
We resolve the problem of player's trust in the system by implementing the open source algorithms of the DICEGAME platform. The logic of dice values and winner determination is delivered by the smart contracts with the help of which we can track the records of input and output data.
Traditional online-casinos are regulated by the law of money laundering and legalization. All online-casinos and poker rooms use regular currencies that obey the law of the processing centers that withdraw pricy fees and taxes for payment processing, currency conversion and other operations. The market average commission for cash in is 8% of the deposit sum, and cash out - starting from 2%.
We do not impose limits on deposits and withdrawals. We think that the user should keep control over his own money. Thus, the smart contracts do not set any limits on cash ins and outs.
As a rule, all players' deposits are stored on the account of the traditional casinos. So that, casinos have access to all money paid by players and can commercially exploit them. Deposits are profitable for casinos, as these institutions have the possibility to function as credit organization
We eliminate the idea of frozen funds. We do not exploit users' money, we just provide the tournament wallet to store the prize fund for a game session. There are no frozen funds, each user has the possibility to check the account of the tournament wallet based on the blockchain anytime.
Casinos are always paid off not depending on clients' win or loss. This is how it works: the base of the mechanism is the random number generator. Potentially, this system can be controlled from the outside, i.e. the one with the access to a server or programming code is able to directly influence game results.
We do not use random number generator. Users play with each other, but not against the platform. DICEGAME is just the initiator and organizer of a game.
Average players or novice without any defined game strategy are more likely to be at a high risk of loss. In the traditional poker rooms 80% of players become planktons for 20% of whales.
No special knowledge or background required to increase winning odds. Players have up to 50% chances to win whether they posses any specific skills related to the game or not. In the games on the DICEGAME platform only a true luck will determine the winner.
Currently, casinos store their data in centralized servers, though the latest encryption technologies in place help keep such data safe, the information still isn't impregnable. In fact, several cases of hacking have been recorded in the past three years. Online casinos are attractive targets for hackers as a large sum of money flows through them and hacking them could be very lucrative
High level of security. Decentralization of databases is used in all algorithms of the DICEGAME platform on the blockchain. Blockchain databases consist of several decentralized nodes. Each node participates in administration: all nodes verify new additions to the blockchain, and are capable of entering new data into the database. For an addition to be made to the blockchain, the majority of nodes must reach consensus. This consensus mechanism guarantees the security of the network, making it difficult to tamper with. The architecture of decentralized ledgers makes it almost impossible to lose funds or private information to cybercriminals.
If to speak about games using fiat currency, we can notice, that the user has to provide lots of personal data to be registered for a game. Vetting personal information, a single case at a time slows down the process of setting up accounts and playing casino games.
We speed up data verification by eliminating the need to collect unnecessary data. Such a move ensures that users access the site faster and anonymously.
The world don't stop developing, so online-casinos start implementing all algorithms using blockchain technology. But, here we cannot but identify some actual problems. Such online-casinos in its majority use Ethereum blockchain as the base for all mechanisms. Thus, we can observe high commissions for each сall to smart contract and low speed of transactions.
We solve the problem of transaction speeds with the help of the Graphene blockchain. The technology allows to have low commissions of the high speed transactions. We make online casinos more responsive and with an enhanced online user experience. Customers can now expect better, faster and cheaper service.