Cryptocurrencies are already completely reshaping the online world by expanding the market available and changing the ways users interact with each other. Online gambling is not necessarily a new idea but its place within the new market dominated by cryptocoins is unprecedented.
Participants of online gambling sites often have to worry about security in the sense that many options are willing to take advantage of users and rig games. Edgeless is an online casino based entirely in the blockchain and developed with the intention of providing a risk-free gambling option.
About the Edgeless EDG Ethereum Casino
Founded in the Ethereum currency, Edgeless is an online casino that does not operate with an edge, which is the essentially the built-in profit that the house maintains in each game. This allows the business to profit even when the player wins by keeping a very small percentage of their winnings.
Edgeless does not charge an edge in an effort to operate as a transparent casino where users will not be scammed. Ethereum technology provides the foundation for this model, allowing users to monitor games and transactions within the casino to insure that they are not manipulating the outcomes of games.
Typically, both physical and online casinos establish a house edge of anywhere from 1 to 5%, which can significantly affect the winnings of an individual player. Edgeless preserves a commitment to transparency by refusing to charge an edge, an uncommon feature in the gambling realm.
How to Use Edgeless
This platform is based in the blockchain, which is the foundation for all cryptocurrencies that allows them to function without a centralized authority by allowing any user to observe the transactions in real time. This prevents scams and theft by giving all users the opportunity to intervene when a transaction seems incorrect.
Ethereum technology also operates with smart contracts, which allow only the action they were set up to perform to occur. In this sense, they cannot be changed or altered. Security is therefore upheld by assuring users that they will receive their winnings and cannot be cheated out of them.
A somewhat limited range of games is currently available through the platform, such as dice, poker, and Blackjack. Additionally, like most other gambling sites, users can also make bets in sports.
Fairness goes hand in hand with transparency, so Edgeless users a Random Number Generator to produce the outcome of each game. Again, the blockchain allows all users to easily audit the generator and contribute to keeping the games fair.
Participating in the platform is simple and straightforward. Simply complete registration with an email address and existing ETH wallet and confirm membership. It appears that any other types of personal information are not required.
Upon completion of registration, users can take their pick of games with the ability to manage ETH funds at any time. If games are won, smart contracts guarantee automatic payments while also allowing users to retain their money at any point.
Should You Use the Edgeless EDG Ethereum Casino?
Because cryptocurrency models and platforms are constantly appearing, it seems that security should be a priority for those investing funds into the blockchain. Despite the possibly limited variety of games, Edgeless offers an advantage over other online casinos in its focus on transparency, fairness, and security.
Other sites often require personal identification information and do not allow users access to how the operations are being supervised. The blockchain provides complete transparency in how the outcomes are being decided and what kinds of earnings are being won.
For these reasons, it seems that those willing to invest in Ethereum should take a look at Edgeless for its commitment to security.