Announcing a new chapter for EOSBet

EOSBet is excited to announce that we will be moving away from Ethereum entirely and turning our efforts solely towards building on the EOS main net. Sadly, this means that we will be officially turning off our proof-of-concept games on Monday, July 16th.

Thanks for making our Eth games a huge hit

We created these beta games back in February for 3 main reasons:

  1. To give our community something to enjoy while we waited for the much anticipated EOS launch
  2. To demonstrate that, unlike what most ICOing (or even post-ICO) companies might have you believe, it’s really not that hard to quickly develop a working product
  3. To highlight the severe limitations of the Ethereum network as it stands

These games were just a tiny taste of what’s to come next for us on EOS, and we’ve been flattered with their popularity and usage. A few stats as we put the games to bed:

As much as we’d like to keep the games going (we were coming for you, Etheroll 🙂!) it’s time to focus our efforts fully towards developing on EOS. The well-documented shortcomings of the Ethereum network have created no shortage of issues we’ve had to deal with over the past few months. Simply put, our players deserve a much better user experience than what can be offered on Ethereum, and we’re building that on EOS.

Ethereum can barely support a simple gambling DApp, let alone a commercial-scale casino

In its current state, transactions add up quickly on the Ethereum network, making Dapps costly to both use and operate. Even more frustrating, transactions take ~45 seconds on average (and sometimes over 30 minutes!) to process. It’s a testament to the patience of our players that they continue to bet in spite of this. Further, there have been extensive issues with MetaMask lately, as well as with Oraclize.it, our 3rd party provider of randomness. When the Ethereum network is highly congested, dapp activity grinds to a complete halt. You cannot keep your customers happy in these conditions.

We’re well aware of the current efforts being made towards addressing some of these issues, most notably through scaling solutions like state channels, plasma, and sharding. However, we don’t see the network being able to handle a large scale, highly-interactive, decentralized casino within the timeframe that we’d like. And that’s why we’ve been building on EOS—a blockchain architecture that although not perfect, will allow our team to create a scalable and high-performance decentralized casino.

We’re excited for what’s ahead and you should be too!

EOS is still in its infancy. There are issues with RAM costs and the occasional block producer drama. Even so, the project is leagues ahead of any other “3rd generation” blockchain, and is ready to handle a number of scalable Dapps, including ours. EOS offers near-instant block time (500ms) and over 1,000 transactions per-second, which is only going to increase moving foward.

We’ll be launching a number of games on EOS through Q3 and Q4 of 2018, starting with every crypto enthusiast’s favorite: Dice. We’ll also be revamping our website and posting more content here.

It’s an incredibly exciting time for us and we thank all of you, whether you’ve been with us from the start or are just joining us now, as we create the future of decentralized online gambling.

Cheers,

The EOSBet Team

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