Centralized vs Decentralized

Advantages Over Traditional Casinos

Blockchain Benefits in Gambling:

Trustlessness: Unlike traditional casinos that require trust in a centralized provider, our platform eliminates the need for trust by relying on blockchain technology. In conventional gambling platforms, users must place their trust in the provider during every step:
- Fund Deposits: Once funds are deposited, they are under the provider's control. This leaves users vulnerable to potential issues such as provider bankruptcy, mismanagement, liquidity crises, or misuse of funds for marketing or personal purposes.
- Opaque Backend: Traditional platforms often have closed-source backends, raising concerns about the accuracy of odds and transparency of winning percentages. Without access to the backend code, users cannot verify game fairness.
- Potential for Manipulation: There have been instances where users received preferential treatment, including altered winning percentages or even access to other players' cards.
- Compliance Issues: Withdrawals can be delayed or blocked, accounts may be frozen or closed, and funds could be confiscated. Access to the platform can be restricted arbitrarily.
- KYC Risks: Traditional casinos require extensive personal information, which may be shared across platforms, potentially leading to privacy concerns and blacklisting.
- Payment Gateways: Using third-party payment providers introduces additional risks to customer funds.
Reliability: While centralized infrastructure can be reliable, it is expensive and complex to maintain. Issues such as network, datacenter, or hardware failures remain a risk. Distributed networks address these challenges by offering more resilient solutions.
Simplicity: Our platform eliminates unnecessary overhead, ensuring full transparency. The system comprises only the frontend and open-source smart contracts, with no hidden business logic. Financial transactions are executed directly on the blockchain, simplifying infrastructure.
Proofs: Every transaction and outcome is verifiable on the blockchain, ensuring fairness and trustlessness.
Open Source: The smart contract code is publicly accessible, guaranteeing fairness and undergoing third-party audits for added security.

PreviousPlatform NextSlots

Last updated 8 months ago

Centralized vs Decentralized

Advantages Over Traditional Casinos

Blockchain Benefits in Gambling:

Trustlessness: Unlike traditional casinos that require trust in a centralized provider, our platform eliminates the need for trust by relying on blockchain technology. In conventional gambling platforms, users must place their trust in the provider during every step:
- Fund Deposits: Once funds are deposited, they are under the provider's control. This leaves users vulnerable to potential issues such as provider bankruptcy, mismanagement, liquidity crises, or misuse of funds for marketing or personal purposes.
- Opaque Backend: Traditional platforms often have closed-source backends, raising concerns about the accuracy of odds and transparency of winning percentages. Without access to the backend code, users cannot verify game fairness.
- Potential for Manipulation: There have been instances where users received preferential treatment, including altered winning percentages or even access to other players' cards.
- Compliance Issues: Withdrawals can be delayed or blocked, accounts may be frozen or closed, and funds could be confiscated. Access to the platform can be restricted arbitrarily.
- KYC Risks: Traditional casinos require extensive personal information, which may be shared across platforms, potentially leading to privacy concerns and blacklisting.
- Payment Gateways: Using third-party payment providers introduces additional risks to customer funds.
Reliability: While centralized infrastructure can be reliable, it is expensive and complex to maintain. Issues such as network, datacenter, or hardware failures remain a risk. Distributed networks address these challenges by offering more resilient solutions.
Simplicity: Our platform eliminates unnecessary overhead, ensuring full transparency. The system comprises only the frontend and open-source smart contracts, with no hidden business logic. Financial transactions are executed directly on the blockchain, simplifying infrastructure.
Proofs: Every transaction and outcome is verifiable on the blockchain, ensuring fairness and trustlessness.
Open Source: The smart contract code is publicly accessible, guaranteeing fairness and undergoing third-party audits for added security.

PreviousPlatform NextSlots

Last updated 8 months ago