The current gambling scene is at crossroads with the ever-growing suspicion of unfairness and manipulation in terms the games outcomes. If you happen to gamble once and lost, you can attest to the rule of the house always wins. The uncertainty of game organizers is highly present in casino games and sports betting resorts which tend to manipulate the results to profit from the gamblers’ losses. There are even cases of betting firms refusing outright to pay winners which tends to happen more than frequent. One technology is set to guarantee the fairness of the outcomes by utilizing blockchain technology
What Is FairWin?
FairWin is a decentralized gambling platform that is powered by blockchain to ensure the integrity of winnings through an algorithm known as FairChannel. The concept behind the project is to offer a different gaming platform with the gaming logic, wagering, and payouts free of central authority but publicly open for scrutiny. The automation system will ensure payout does not depend on the gaming organizers and instead work in real-time with the games results. As of now, the demand for a technology that can guarantee fairness is in high need, and the use of Ethereum Network and the FairWin token (FWN) is proving to be essential in achieving this capability.
FairWin Crypto Gambling Blockchain Benefits
- Transparency-all the games results and codes are open to the public for inspection on any cases of manipulation
- Security- gamblers have the assurance that whatever amount their winnings they will receive it upon the predicted outcome.
- Fairness- the casino games are reliance on blockchain technology is surety on the actual outcome of the games rather than manipulation of results by betting houses.
- Automatic payouts- the FairWin platform works in real time with the gaming events and automatically send the payouts upon the results, so no cases of delays
- Convenience- apparently, the FairWin app will be made available for all mobile devices and browsers.
Is FairWin Unique?
Like most gambling platforms, FairWin is not offering much different from its predecessors on the blockchain. A majority, if not all, blockchain gambling platforms offer a lot of guarantees and promises of fairness regarding their game outcomes. Although this is not a productive use of blockchain technology, it is still beneficial to regular gamblers. The unique factor with FairWin is there promise to offer 200 games each coming year. There is no substantial proof to show how they plan on doing this, but it would be nice to watch if the project outlives its initial stage.
Typically, blockchain gambling is a not so favorite scene for ICO investing. Much of this is due to the number of projects that end up as scams. A high number of the gambling ICOs tend to go under straight after fund-raising. That is a significant factor to consider in the case of FairWin. Additionally, the development team in charge of FairWin is said to be from Russia, and although it might not seem unusual, it is still a concern. The country is a hotspot for cryptocurrency scams for a long time, and any project from there should be taken with caution. The case for FairWin is similar, as I also conclude that it could be a scam in the making and it is wise to avoid such projects.