What Is BlockStamp?
BlockStamp is a blockchain built in to digital management applications. The new cryptocurrency is designed to store user data on the blockchain. The virtual currency is based on Bitcoin peer-to-peer technology, which means that it operates with no influence from any central authority. The intention was to create a fresh, fast, and effective blockchain to serve as the core of an online gambling platform.
In the future, the cryptocurrency will be used to cover time stamping dedicated for banking purposes, DNS, and many more. Blockstamp games are a creation of a group of individuals, cryptocurrency enthusiasts who discovered that the current models of cryptocurrency casinos do not match the standards of this age. The BlockStamp Foundation now runs the project.
BST Blockchain Blockchain Explorer And Crypto Games Features
The aim behind BST was to create a completely new platform that would host players and provide a gambling base with zero percent edges and minimal fees. Besides, the platform would remain transparent of all the transactions taking place in the casino. Therefore, the developers decided to create a new currency that uses blockchain for fairness purposes. To this end, blockchain levels all issues with absolute fairness and transparency. In addition to fast and efficient transactions, the platform enables a 1 million-jackpot award for possible winners.
The following are some of the features of the project:
- BST Blockchain: the platform operates on the near-tamperproof Bitcoin blockchain
- Difficulty adjustment algorithm: the rate of block creation is adjusted by DAA algorithm, which is similar to Bitcoin Cash (BCH)
- BST Finite Supply: the number of BST in existence will not exceed slightly less than 105 million
- 2-year reward halving schedule: the number of BST created per block is set to decrease geometrically, with a 50% reduction after every 1,050,000 blocks.
- Decreased block time up to 1 minute: short transaction time means faster payment. Quicker confirmations provide more security
- Increased transaction size up to 1MB: One transaction can accommodate whole documents and signatures. Bigger transactions mean more data stored
Fast Value Transfer:
One-minute block times ensure that the BST, BlockStamp’s native coin, flows between users’ wallets quickly and efficiently.
Radically Fair Gambling:
BlockStamp powers a next generation online gambling platform with provably fair game play, no house edge, and a huge jackpot possible on every bet.
Due to the sensitive nature of some transactions, they require reliable and secure system to store data. BlockStamp blockchain is designed for this exact purpose; it can offer tamper-proof timestamping of documents with 1 MB block size for storage.
The platform embraces a peer-to-peer clearnet domain naming, which ensures that free speech stays free even as online surveillance and censorship attempts increase.
BlockStamp BST Investment
BlockStamp currency is considered a profitable investment option owing to the following facts: The gambling market is expected to generate up to $81.71 billion USD by 2022. This figure excludes the illegal gambling market, which is estimated between 80 and 380 billion USD. Since the market is growing, the value of BST is likely to increase. Besides, the price and stability of cryptocurrencies are higher compared to that of tokens. BST is a digital currency already being mined and utilized. Being a bitcoin fork, its price is expected to be stable with a good value.