As we all know, new technologies have evolved exponentially over the past decades. This allowed the development of tools that are extremely useful for the online industry, such as online casinos.
One of the revolutionary technologies that have turned the world upside down is Blockchain technology. This technology has found its application not only in the business world but also in the gambling world.
Almost all casinos, both those who have been on the market for a long time and completely new ones, have the opportunity to perform actions using cryptocurrency, which the players cannot but like.
So, the newcomer of the last year, Cookie Сasino, about which few have heard so far, burst into the arena of the gambling business, promising something revolutionary. And it’s not just that the casino offers an abundant library of games for players who have created a Cookie Casino login, it is that they make the safety of their customers a top priority.
What is the Blockchain?
Very roughly, the blockchain is a computer system that allows users to do without what is called “trusted third parties” such as a bank for example. This technology allows registering a transaction between two individuals in an indelible way. The transactions are then recorded in a transparent register, the consultation of this register is free but the entries in it can in no way be modified.
The term blockchain comes from the fact that the information recorded in the register is kept in blocks which then form a chain. The transactions can be of any nature (money, vote etc.). Then, individuals, the “miners” will make available the computing power of their computer to verify the information of the transactions contained in the blockchain. The miners will then be paid in cryptocurrency in exchange for their computing power.
Online Casinos and Blockchain: The Advantages
Although it is a new technology still unknown to the general public although developed in 2018, some online casinos have already made the choice to adopt it. But then, what are the advantages of an online casino working with blockchain technology?
Transparency and Trust
With the blockchain, all information related to the online casino is kept on a ledger that is accessible by players who can verify the reliability of the casino for themselves. In addition, the transactions recorded on the blockchain cannot be altered, which allows for complete trust.
For those who don’t want to risk providing their data to an online gaming site, the blockchain also allows them to remain anonymous. Indeed, thanks to this technology you will be able to benefit from the best free casino games without having to provide your bank details.
Indeed, the Blockchain allows the use of crypto-currencies even in casinos that do not offer this option in their payment methods. They are a good way to prevent online data theft! You can protect your winnings, data, etc. much more easily.
Fair and Safe Gambling
Online casinos would be able to use blockchain in order to secure the player experience. Indeed, the principle is simple: register all bets as transactions on the blockchain ledger.
This would ensure that the online casino cannot change the bet after the fact and actually prevent them from committing fraud by refunding players less than expected. Since the transaction is immutable once entered, the casino cannot change the terms after the fact. In addition, since the ledger is accessible by the player himself, he can verify the terms of the bet and thus the reliability of the casino.