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Introducing the Third Generation Casino; Online Casino Vs Blockchain Casino

By September 4, 2019 No Comments

First Generation: Land-based Casinos

If you’ve ever got into a land-based casino, then you understand the overall experience which is a culmination of different customer-directed activities designed to keep people there for a long time. As you enter, you are welcomed by luxury and the glamour of a thousand shiny lights. This is even before you are greeted by the attendants. A series of activities will draw your attention after you have gotten your chips ready to bet. No wonder the movie ‘The Lightning Thief’ gave the notion that you can spend days in a casino but to you, it will only seem as though you’ve spent a few hours there.

The security in a brick and mortar casino is almost perfect as all your activities are monitored from the moment you enter. The security camera scans your face and runs it through the database to check if you are not among the banned players. The chips you get are micro-chipped so none are lost (and they’re traceable). These chips are scanned for authenticity whenever you present them for betting. Your playing style is monitored closely to check for anomalies.

But recently, visits to land-based casinos have been on decline because of players’ demand. Many times players may want to have the ‘casino experience’ right from the comfort of their homes and offices without having to drive long distances to the location of their favorite casinos. Short breaks in offices cannot allow such travel to get the thrill.

Second Generation: Online Casinos

Online casinos are built with the yearning of players in mind, bringing them the same experience right into their homes, offices and pockets. Most online casinos are built with Pseudorandom Number Generator (PRNG) to simulate the betting experience and make results and earnings fair. PRNGs are algorithms which generate numbers randomly. Players can be in their homes and offices playing poker or roulette for a few minutes and winning some money for their pockets.

But there are some inherent challenges with online casinos:

Entry/Exit fee

Online casinos come with huge and scary fees. This is because of the laws binding casinos, and the payment processor used. To withdraw funds won can be very hard too, as fees are charged from multiple ends: such as the platform and payment processor.

Transparency

Most online casinos are not provably fair as they claim to be. They may tweak the PRNG algorithm such that the probability of winning is far lower than normal. Additionally, they do not allow third-parties to perform scrutiny or checks on their gaming algorithm and in cases where they allow third-party scrutiny, they may bribe their way through to get a positive review.

Declined payment for winnings – Rogue casino

Some online casinos have been labeled ‘Rogue Casino’ in players’ forums. Such casinos have declined payments to legitimate winners on their platform. Ultimately, paying out winnings is solely dependent on online casinos. They can decide if, if not, when and when not to payout to winners.

Storage/Profile Saving

Most online casinos store their player’s profile in a centralized storage that can be lost at any time. There is no permanent storage for high scores so these are lost over time. For a person who wishes to have his high score carved on the sands of time, it is not possible with present online casinos.

Third Generation Casino – Blockchain Casino

As an improvement over the deficiencies of the present online casino, Wunbit is creating a blockchain based casino.  A blockchain-based casino takes the best advantages of online casinos and improves on it while eliminating its deficiencies. Blockchain technology will ensure transparency and fairness in the operation of an online casino. Wunbit uses a secure API to connect different casino games to the blockchain via smart contracts. The blockchain makes these games actually provably fair. Wunbit allows players to see the algorithm which runs each casino game, thus everyone can see and calculate the probability that they will win in an event.

Blockchain Casino Advantages

Some advantages of Wunbit’s blockchain-based casino, which presents itself as a third-generation casino platform, are listed below.

No Entry/Exit fee

Wunbit uses WUN tokens as the gaming fuel for all games on its platform. One can say WUN tokens are the poker chips. WUN tokens are available for sale now (Private Sale) and after the platform launch, they will be available on different cryptocurrency exchanges (plans are already in place for this). Wunbit does not hold user’s tokens on its platform. Users connect their cryptocurrency wallets through trusted browser plugins like MetaMask to the game’s smart contract to play said game. The winnings are deposited automatically through the smart contracts into the winner’s wallet. There are no entry or exit fees charged by the platform. The user will only be charged a gas-fee as accustomed for moving tokens on the Ethereum network.

Transparency

Wunbit displays the games’ smart contracts publicly on the Ethereum network so that users can see and actually determine the probability that they will win in an event. This makes the platform actually fair for all players.

Winning Withdrawal

Since the platform doesn’t hold players’ tokens, withdrawals cannot be held by it. Smart contracts automatically send your winnings to you, (no waiting time). This way, tokens are always in control of the players.

Profile and High score on the blockchain

With Wunbit, players are able to upload their scores and game states (for some games) on the blockchain. These data are stored as transactions on the blockchain. The player pays a transaction fee in this case.

Wunbit is revolutionizing the world of the casino industry, leading it to the next generation. At Wunbit, transparency and fairness is our watchword.

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