Gambling online is considered to be one of the top growing industries, which could reach to more than $65 billion in the coming three years. As cryptocurrency has gained remarkable popularity among various online casinos, now the industry is focusing to move towards blockchain technology to change the look of overall gambling sector. With an effort to improvise the existing problems that include trust and transparency, many online gambling platforms are integrating blockchain technology. This technology is decentralized in nature and eliminates the risk of money scams. Also, it enables regulators to keep check online casinos’ operations. Keeping all this in mind, there is new development in gambling sector called, EthBet.
EthBet is a recently developed world’s foremost peer-to-peer cryptocurrency dicing platform, which is based on the Ethereum blockchain. Launched via the EthBet Crowdsale on September 17th at 8PM UTC, it is another promising gaming-based cryptocurrency, which is truly decentralized. One of the major USP's of EthBet is its nature of gambling without a house edge and its transparency in all transactions to curtail risk of manipulation.
Ethbet is a decentralized cryptocurrency that allows users to make bet without any house edge fees in a peer-to-peer mode. Also, it is a form of digital currency, which is developed to be secure and anonymous. EthBet is a kind of cryptocurrency, which uses cryptography for anti-counterfeiting and security measures. The unique feature of this platform is that it allows players to bet straight against one other, which is still not launched by any of the competitors. In the world of Ethereum-based dicing, Ethbet platform is hoping to become a major player.
Ethbet tokens (EBET) are used as a currency for the Ethbet platform and protocol for the purposes of decentralization. These are standard ERC20 token, which are safe, secure, easy to store and trade. EBET can be used as wallets and exchanges. One can convert the profit of Ethbet either with a help of third party smart contract such as 0x or using an Ethbet smart contract.
Unlike traditional dicing platforms, EthBet is different as it allows players to bet directly against one other, instead of betting against a house. It eliminates the house edge cost, a fee charged by house, by betting against each other. It allows cutting out the middleman, hence saving them from the costly house edge in the process. Additionally, Ethbet possesses features like cost-effective fees, obvious fairness, superior returns, and transparency.
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