How Crypto, De-Fi, Blockchain and Web 3.0 technologies are being used in i-gaming industry? There are a lot of options how tokens or NFTs and even Blockchain can be used in modern games.
I was making a research some time ago. My focus was on gambling games as it is always a hot point for the disruption of new technologies.
I found a good source of information about Distributed Applications in general: https://dappradar.com and sure you can filter gambling projects there.
I surfed thru the list looking for the most popular games that have many users or transactions. I was trying to discover whether the games really use Blockchain or simply accept Crypto as a payment method and position themselves as something new and revolutionary.
I was despaired as the majority of the projects simply accepted Crypto. Some were more advanced and had their own tokens on Etherium and used them a settlement method. All that didn’t make them truly Blockchain projects as they didn’t use core advantages of the technology.
Payments is good but blockchain is not only about payments. Blockchain has very good verification tools. By nature all that is in Blockchain is visible and unchangeable. So, much less opportunities to cheat.
My investigation was mainly focused on Sportsbooks. There is a specific type of betting called survivor pool – players unite to create a prize pool and then try to guess the outcome of a championship. Players, who predicted the majority of outcomes win.
There are several options to cheat in this scheme as nobody knows/remembers how the others voted. So, there is a huge space for cheating. For example, the dome (organizes the game and keeps the funds) can introduce their own “winner” in the end or have several players in the pool who’s choices would be manipulated retroactively to make them win.
In case a Sportsbook uses Blockchain it is nearly impossible to cheat, as any player can take a look how others voted. A simple smart contract will write all the choices in Blockchain and announce the winner.
I found only two active sports books that have Blockchain inside:
At the moment I’m testing both projects to find out how their smart contracts are made and how they perform.
If you are familiar/interested in this topic – feel free to contact me. I provide consulting services for new projects.
Read more about:
Leave a Reply