Casinos are quite fascinating in themselves as for their intricate workings and the way it holds people. In the technological world gambling and casinos are often held in the form of online activity. But now is the age of cryptocurrencies which are more lucid and secure. People may easily make it work on a different level if they have the knowledge on it. There are decentralized applications which make it easy for a person to gamble.
What are Dapps?
Dapps are a new age technology of decentralized application which takes the use of a decentralized peer-to-peer network. It is mainly used for Ethereum in one way or other. The system uses the technology of Smart Contracts, and they are quite transparent. The front end of the Dapps which deal with Ethereum gambling are often made with usual programs, but the back-end has to be based on the decentralized network.
The smart contract used works in four steps:
- The code of the contract is set between the parties with the help of blockchain which acts as a public ledger. The rules can be based on ‘IF/THEN’ or something complex following the rules of decentralized applications.
- There is a bet, so they are told to flip a coin or roll a dice for instance. The one that wins takes away his bet+ the loser’s bet.
- The program is provided with a trigger to make it work, like a date or toss of a coin.
- The whole process is then completed without any hindrance because of its decentralized nature.
The usefulness and future of Casino Dapps:
The decentralized gambling apps are quite useful as they are completely safe and trustworthy for the users. If they want they can be completely anonymous throughout the process. The offline/online gambling community dreads the occurrences of frauds and cheat, but it is quite impossible if someone is using a decentralized system. The dapps are also helpful for storing data. The online casinos aren’t quite transparent and often can lead to the users being duped.
The future of Casino DApps can be bright because of their transparency and usefulness. The applications can be used in several ways other than just for crypto currencies. They can easily prevent hacking and set up a safe environment for online transactions in the future. The technology is quite revolutionizing and will be so if it is used adequately in the future.