Gambling Set to Move to the Blockchain
For a long time, the notion of the gambling world joining hand with blockchain was always something crypto investors ever thought to make it a reality. While it may seem far-fetched, the idea is already a reality taking place.
Much of this blockchain shift in the gambling world is the strict regulations that online casinos are facing from authorities. However, this has not stopped gambling firms from seeking alternatives for their trade. Already there are several gambling and casino platforms and tokens in the blockchain.
One such platform is the Casino Coin project. The platform is among the first open source cryptocurrency ecosystems to accommodate the online gambling industry. Much of the platform plans to rely on the use their CoinCasino token to make their gambling platform more secure and reliable.
How Does the CoinCasino CAS Work?
The CAS or CoinCasino is the primary mode of currency for the ecosystem. The coin proves essential whenever on wants to purchase in-game credits for the casino games. Additionally, each player can also get to make money by gambling using hard cash on the casino games. Unfortunately, the token will be up for sale only once as there rule of issue states.
With most of the online gambling platforms facing strict from authorities, there was the need for an unregulated but secure platform. CasinoCoin plans to do all this through their blockchain platform.
The blockchain marketplace will work under an ERC20 token with several extra functions. The smart contracts, on the other hand, are divided into three parties. The front end is responsible for the permanent token address, whereas the legger acts as a load balancing tool for the system servers. The controller ensures the user links to the Front End contract for verification purposes.
There are definite signs that point to a much suspicious outcome of the whole project. The first probably indication is the team behind the project. For starters, there is very little available on the team's development background.
Most of their searches online will end up with little information. That is somewhat surprising for a bunch of people who you plan to invest your money. Their images also look more unrealistic, and this may point to the fact that the project may turn out not a scam in the end.
Moreover, anything involving gambling should be approached with a lot of caution. Whether on the blockchain or not, this does not guarantee the safety of your investment. It is wise to remember gambling is a quick bait for those with an addiction to gambling. Such a scenario may be in play in here, but time will tell how the scam can last. For now, the platform is underway, aiming to increase membership for their token.
CoinCasino CAS ICO Conclusion
There isn't much that would separate Coin Casino from other similar projects. Most of all, some of them have far better features compared to CoinCasino. To further underwrite this project, I would not indicate it as a viable project due to the project' sole representation.
The platform is yet to convince on the part of effort, and much more work is required if the plan is to succeed. All-in-all, I sound the word of advice would need you to avoid CoinCasino. I would not expect anything profitable to come off this project.