Ethereum Casinos

Ethereum Casino: Of all the cryptocurrencies out there on the net, Ethereum is one of the better-known ones. Like Bitcoin, Ethereum is widely accepted at plenty of top casino domains. This digital currency has a lot in common with many of the other renowned cryptocurrencies, but unlike some of its rivals, Ethereum can do a little bit extra.

Ethereum is a programmable cryptocurrency, which means that developers can build applications around it, and this is something a few casino operators have chosen to focus on. Known as Dapps (or decentralised apps), these provide a different way for players bet with cryptocurrencies at online casino domains.

About Ethereum Casinos

Ethereum first appeared in 2015, so its rise towards the top of the cryptocurrency totem pole has been nothing short of remarkable and speedy. Ethereum is one of the most accessible cryptocurrencies to get hold of, and its block time is considerably faster than Bitcoin, at 14-15 seconds compared to 10 minutes with the latter. There is also no hard cap on the supply of Ether, unlike Bitcoin.

Ethereum allows for cheap, instant payments using ETH to online casinos. Around 25 of the world’s leading casino sites accept Ethereum, either as one of several cryptocurrencies you can use, or they solely accept this option. The latter is rare, though. Known as Ether casinos, these sites often have games which are programmed and written around the cryptocurrency. They include blackjack, dice-based games, lottery games, poker, and roulette. Although Ethereum slots do exist, most convert ETH to FIAT currency options when gameplay takes place.

Is Ethereum Online Gambling Legal?

Ethereum faces the same laws as Bitcoin and other cryptocurrencies. If the country you reside in hasn’t made digital currencies illegal, then you are free to use the ETH currency to play with. Even if laws are in place, the anonymity provided with Ethereum is effective enough that many players use it all the same.

Top Ethereum Casinos

There are a few perks to be aware of if you’re considering using Ethereum to play at online casinos. Here are just a few of them…

• Provably Fair Games: Ethereum is one of several cryptocurrencies attached to the Provably Fair hallmark. Any casino which provides games which have been certified as fair for cryptocurrency users to play will likely accept Ethereum.
• Speedy Transactions: Ethereum process transactions far quicker than Bitcoin. The speed of the blockchain (as mentioned above) makes depositing and withdrawing from casinos a quicker process with Ethereum than with Bitcoin.
• Plenty of Casinos Accept It: As one of the major cryptocurrencies out there, players do not have to look for long to find a leading casino to play at. All leading casinos which accept digital currencies should (and likely will) accept Ethereum.

Ethereum is a speedier option to Bitcoin and one which is rapidly becoming just as popular. It is less expensive to obtain than Bitcoin, too, which makes it appeal to players who want safe, secure, but cheap gaming options at their online casinos.

About Ethereum Casinos

You will no doubt have heard of bitcoin and cryptocurrency casinos in general. At a time when cryptocurrencies are all the rage and the online casino world is rapidly undergoing so many changes, how could you not have? What you may not have heard about though, is that there are now also Ethereum casinos. In many ways, they are very similar to bitcoin casinos, and they are cryptocurrency casinos, in a manner of speaking. However, there are a few things which make them stand out from the pack. Find out what they are in this article. Before that, though, a disclaimer, of sorts.

Key things to know before you play at Ethereum casinos

Having a basic knowledge of Ethereum will help you when starting out playing at Ethereum casinos. Of course, Ethereum is a cryptocurrency just like Bitcoin, however, it has it’s own unique properties as well. Ethereum is more complex than Bitcoin. It can operate “smart contracts” which means to say that it can execute scripts for tasks when certain conditions are met. The cryptocurrency the Ethereum network runs on is called Ether, and it works slightly differently to Bitcoin.

Reading up on Ethereum, how it works and how you can buy it is essential before playing at Ethereum casinos. Since that is why you found your way to this page, we’ll assume you’ve got a basic knowledge of the cryptocurrency. If not, you do need to read up on it. But with that out of the way, let’s continue by looking at Ethereum casinos.

All about Ethereum casinos

A number of major cryptocurrency casinos will accept more than one currency. The same is true of Ethereum casinos. There are casinos which only deal in Ethereum, although these are a rare breed right now. However, if you’re playing at a cryptocurrency casino, the chances are fair that they will also accept Ethereum.

Ethereum casino gaming has taken off lately, primarily due to the smart contracts we discussed a moment ago. It has revolutionised the way players and casinos operate. As there is no longer any need to trust a casino to pay you, everybody wins. Here is how smart contract cryptocurrency betting at Ethereum casinos can work.

Depositing and withdrawing with Ethereum

Ethereum casinos will operate directly on the Ethereum blockchain. Instead of depositing into a casino’s wallet, you can use the Ethereum network to deposit directly into a smart contract. The smart contract will then determine whether the requirements for a payout have been met, and if so, they will pay you immediately.

One of perks of depositing and withdrawing with Ether at Ethereum casinos is that you no longer have to trust the casino. At no point does the casino hold your cash. If you lose, you lose your cash, if you win, the smart contract handles the payments. Because those payments use an open source code, the casino can’t tamper with them either. Moreover, any cash outs you land are instant. A casino cannot add withdrawals caps, transaction fees or delay withdrawal times. The smart contract ensures that prizes are paid out immediately.

Depositing at ETH (Ethereum) casinos is a doddle if you know what you’re doing. It’s virtually identical to bitcoin. You can purchase Ether from an online exchange and use your wallet to transfer to the Ethereum wallet. The casino should have an Ethereum wallet address which begins “0x”, just to ensure that you’re on the right track. From there on out, everything is just the same as it would be at any online casino.

Ethereum casino games

Ethereum casinos aren’t really any different to other cryptocurrency casinos in terms of what games they offer. Many top Ethereum casinos are powered by leading casino software developers, such as Net Entertainment.

The types of games you can find at these casinos include slots galore, as well as table games, video poker, instant win games, and even live dealer casino games. Special cryptocurrency games may also appear at such sites. These have been carefully designed by providers specialising in cryptocurrencies like Ethereum, to help you get the most of your experience. Admittedly, when it comes to the latter, there aren’t that many out there.

Ethereum casino bonuses and promotions

Ethereum casinos aren’t short of bonuses or promotions, either. Many will come with the same kinds of offers and deals you can find at other cryptocurrency casinos. If you were to look at one big name casino which accepts Ether (ETH) deposits, such as BitStarz, you would get a good understanding of what is there for you to claim.

There are no deposit bonuses offering free spins, match deposit bonuses double cash offers, slot tournaments, table game competitions, re-deposit deals, and even loyalty bonus offers and VIP clubs. From a promotional point of view, there is precious little difference between Ethereum casinos and other top casino sites.

Are there any cons to playing at Ethereum casinos?

If you aren’t fully in the know about the cryptocurrency and what it can do for you, we wouldn’t recommend getting started at a casino which only accepts Ethereum. There is a learning curve involved. However, there are plenty of top sites, such as BitStarz which accept multiple cryptocurrencies (including Ethereum), providing you with a nice playground to get started with.

There is one small chink in the armour when it comes to betting at Ethereum casinos. Bets use at least a block on the chain, and that means that players are likely to have to wait around 15 seconds before the outcome of a bet has been decided. The larger the bet, the longer the wait may be. On the upside, this a problem which is being worked on; so, in the very near future, this may not be an issue. If that turns out to be the case, then there will be virtually no downsides to placing bets at Ethereum casinos.

Should I play at Ethereum casinos?

Provided you have a grasp of the basics of Ethereum (it helps if you can compare it with what you know about Bitcoin) then the opportunities for playing at Ethereum casinos may be too good for you to miss out on. Again, just make sure you do your homework and read up on the specifics of the cryptocurrency first, and you will find Ethereum casinos one of the fastest, most free, and fairest casino gambling experiences you can have online.

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Ethereum for beginners

What is Ethereum?

Ethereum Blockchain is a software platform that allows developers to create and use smart contracts and decentralized applications (DApps). The distributed public Blockchain network is based on the Blockchain technology which enables users to run programming code of decentralized applications without any intervention from third parties.

Mining of Ether

Ether is the cryptocurrency token that runs the Ethereum Blockchain platform. Ether (ETH) is issued through the block mining process at a constant annual rate. This helps to keep the yearly supply of Ether at about eighteen million. A reward of five Ether is given to the person who mines a new Ethereum block after every twelve seconds. It is also used by application developers to cover for transaction charges and pay for other services on the Ethereum network.

Other methods of obtaining Ethereum

Ethereum (Ether) can be acquired through a cryptocurrency exchange which provides a simple way to purchase, trade, and store Ether.

Smart contracts

The smart contract is a self-operating computer program that executes automatically after specific conditions are satisfied. Intelligent contracts are used to allow valuable items such as funds, shares, property, and content to be exchanged.

Uses of the Ethereum Blockchain

Ethereum enables developers to create and set up decentralized applications that execute on a Blockchain network thus avoiding third party control. It can also help in decentralizing any centralized services as it eliminates the interference caused by intermediaries.

The Blockchain is also used to generate independent organizations known as Decentralized Autonomous Organizations (DAO) which are operated using software that executes the smart contracts programmed on the Ethereum Blockchain.

These independent organizations (programs) are designed to operate by changing the structure and policies applied by a traditional organization such as the use of human resources and centralized management.
Any individual does not own decentralized Autonomous Organizations (DAO); they are co-owned by all the individuals who buy the tokens which work as contributions that give these individuals voting rights. This is as opposed to ordinary shares which provide ownership to the shareholders.
Also, Ethereum Blockchain can be used as a platform that helps in establishing new cryptocurrency projects. The Ethereum Foundation has put forward a standard token called the ERC20 which developers can use to create different versions of the token and generate money through initial coin offering (ICO).

Initial coin offering (ICO) is a fundraising strategy where token developers raise a pre-determined amount of money by issuing the token in a crowdsale in exchange for Ether.

In addition, the Ethereum Blockchain provides the standard ERC721 token which is intended to assist in digital assets tracking. This technology is widely used in the gaming industry to create games and in digital collectibles market since the technology enables users to verify the possession of rare digital commodities.

The advantage of Ethereum decentralized Platform

Since decentralized applications (DApps) execute on the Blockchain platform, they are free from third party interference.

Ethereum is secured using cryptography and is not managed centrally; this reduces the risk of failure and protects the applications from cyber attacks. Also, the apps are protected from manipulation and downtime.

The disadvantage of Ethereum decentralized Platform

Code errors and omissions may cause spontaneous and undesirable actions such as obtaining a network synchronization and modifying the necessary code in an attempt to stop an attack in case someone takes advantage of an error in the code to corrupt the system. This changes the Blockchain thus it violates the standard that requires it to be immutable.

Conclusion

Ethereum provides an easy to use platform that allows individuals to exploit the potential of the Blockchain technology. It also helps in changing the way people conduct their business online. Through the decentralized applications, Ethereum has transformed the Internet from being a source of information to a place where different people can exchange the value of various commodities and also avoid any interference from third parties.

Ethereum Blockchain platform is among the most important players in the burgeoning Blockchain industry. This is because the Blockchain platform allows people to contribute to developing the Ethereum Blockchain technology thus helping in creating new features and apps that assist in quickening the decentralization of the financial system. The Blockchain technology is gaining widespread acceptance with financial institutions and various countries adopting Ethereum as the initial building block to Blockchain technology.

Some Ethereum competitors include:

1. EOS = EOS has just gone live with it’s mainnet. There are huge problems here though with it not being decentralised and just a couple of days after live date it completely froze and the big holders deleted a dozen users they claim were fraudulent. Add to that numerous rumours of security flaws and you have a risky prospect here.
2. Tron TRX = Just about to go live end of June 2018. There are already dozens of ERC20 tokens on the Ethereum platform who are going to migrate to Tron once it is fully live. With financial backing from Alibaba and the Chinese government (strong rumours at least) and with big name companies such as Obikes, Game.com and Wesley Snijder’s sporting group in China all on board and with Tron having bought Bittorrent for $120m in June 2018 this is a project that is destined to take over a huge portion of the Ethereum userbase and value.
3. Stellar XLM = Stellar Lumens have backing from IBM to rule certain parts of the smart contract industry.
4. Ripple / XRP / Coil / Codius = The true big boy of the blockchain industry. Codius was developed by Ripple but has since gone completely open source under the hood of a new company Coil.

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