The Advantages of Blockchain in Chance-Based Gaming: Part 2

In the second piece of this series, we look at how the integration of blockchain technology enhances peace of mind

4 min readMar 29, 2023

The benefits of blockchain and decentralised tech are becoming more apparent, and the understanding of this is becoming more widespread as an increase in educational content on the subject helps raise awareness within the global audience. As touched on in the first article in this series, the fairness and transparency provided by this new wave of tech is a huge factor in building — and for some companies, regaining — public trust.

Today, we’re going to look at a not-too-dissimilar area in which the advent of web3 is having an impact on the public perception of technology; peace of mind. Blockchain-based systems already increase this in a number of ways, and as we get an even better handle on the capabilities of how it all works, this is only going to grow further still. Let’s look at some key points that should bring a little more peace of mind to everyday users.

Anonymity

A controversial start, right?! Anonymity has long been touted as a hugely negative point about blockchain tech and distributed ledger systems. Let’s be honest though if you put any tech in the wrong hands, it’s most likely going to be used in negative ways!

The reason anonymity can be, and in most cases should be, looked at positively, is it protects users, their identities, and safeguards against the exploitation of their personal information. Whether that be through hacks, exploits or the selling of your information, if it’s simply not there, it can’t happen!

While we have to accept there is a select group of opportunists out in the world that will abuse the power afforded by the anonymity they are offered, this shouldn’t be a reason to stop the global audience from benefitting from the pleasant knowledge that their data and identity are secure.

Decentralisation

A fairly obvious one up next, based around the distributed ledger system that we call blockchain. To understand the importance of this, let’s look at the differences between centralised and decentralised systems, and for relevance, we’ll look at a gaming system.

In a centralized gaming system, a single entity or organisation controls the game, managing its rules, rewards, and overall functioning. This is commonly referred to as a “central point of failure”. This central authority can be a cause for concern, as it opens the door to potential corruption and fraud. Essentially, if something goes wrong here, it goes wrong everywhere!

Blockchain technology, however, offers a decentralized alternative. A blockchain is a type of distributed ledger system, which means that instead of a single, central authority being in control, the responsibility is shared across a network of computers, or nodes. Each node in the network has a copy of the digital ledger for the entire system, which hugely reduces the possibility of hacks or exploits. Additionally, it ensures all transactions are transparent and verifiable by every user.

Security

This benefit is kind of a combination of the two above, but there is another side to this; the security of the game or platform itself. Blockchain tech has brought about a significant improvement in the security of chance-based games.

Traditional games or web2 online platforms are much more susceptible to hacking and other forms of cyber-attacks, particularly as this type of attack has become more advanced and sophisticated. Platforms utilising blockchain technology are far less at risk, in most part due to the fact the game’s data is encrypted. This alone makes it almost impossible for hackers to tamper with the game’s or platform’s data.

Peace of Mind

As you can see, there are already hugely positive reasons to feel safer and more secure when interacting with platforms and tech with underlying blockchain technology. Your personal data is more secure, your funds are safer and the platform, company or game you are dealing with and entrusting with your funds or info is much more secure against attacks from hackers and other forms of attack.

This is just the beginning, is the tech develops, as will our knowledge and skills of how best to utilise it, which will naturally spawn even greater use cases and greater security.

About BillionAir

BillionAir is a cutting-edge platform offering raffles, gaming, and wagering. This new and innovative platform uses secure blockchain technology to ensure your experience is trustworthy, clear, and easy to check.

With BillionAir, you can play games and participate in raffles from anywhere in the world. BillionAir is aiming to become the go-to raffle and wagering platform in the space!