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The use of blockchain by the top online casinos will only consolidate the growth trend of the entire online gambling industry, influencing the gaming sector as a whole. When we talk about blockchain we immediately think of Bitcoins. However, the technology that relies on structured registers like a blockchain is destined to find application in various sectors. But there is one industry, in particular, that could benefit from the adoption of the blockchain: that of gaming and, more specifically, of online gambling.
The online gambling market is considered to be among the most promising in both the short and long term. According to analysts from the European Gaming and Betting Association, the entire sector is in fact destined to grow at an incessant pace, with a compound annual rate of over 9%. Precisely in order to support the expected development and anticipate the new needs of players, companies that deal with online gambling are today among the most inclined to invest in new technologies.
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Online casino and blockchain, a combination that means security
Blockchain means secure and anonymous payments, but that’s not all. By applying this technology to online gambling, control of the platform is effectively transferred from the provider to the user. The advantage comes from its data structure, which stands out for being immutable, shared and distributed. Through it, players can constantly verify that no fraud and manipulation by suppliers are carried out. In a nutshell, blockchain technology improves the trust that the user places in casinos when using the best casino software, very often seen as money machines that never want to lose profits.
In this case, blockchain then means safe, fair and transparent gaming. It means sitting at a virtual green table, operating the lever of a slot machine or spinning a roulette wheel with the certainty that the game is actually random and the odds of winning have not been rigged in any way.
Blockchain and next-generation video games
Looking at the entire gamification market (an industry capable of moving billions of dollars), it can be said that the blockchain is gradually making its way into the top casino games sector. And it is doing it for purposes that go beyond the security of transactions and the decentralization of gaming platforms. Indeed, one of the most innovative and exciting ideas is to create a muti-universe of play; here users would have the opportunity to monetize in-game assets using digital tokens, by exchanging or selling items such as weapons, spells and special powers.
Blockchain technology is poised to revolutionize the gaming world. The challenge facing the developers of next-generation blockchain games now lies in proving that they are able to raise the necessary funds and attract new users. The competition will be tough, especially in the face of the big giants of the centralized gaming industry.
As the information provided by marvelouscasinos.com, online gambling has been one of the most promising industries in recent years. Based on the direction digital technology is taking, it is clear that online gambling is not going to lose its appeal anytime soon. We probably won’t see land-based casinos like those in Las Vegas being eclipsed by virtual casinos, but as the use of blockchain technology continues to increase, it will inevitably produce drastic changes in the field.