Aren’t you wondering why there are countless of Ethereum ICOs around a gambling industry, but so far we have no properly working Ethereum casino?
The secret is: RNG (Random Number Generator). Every gambling app/dapp has one, and it’s necessary to make a game functioning. The RNG rolls a random number and defines winners/losers, and that’s a sophisticated IT system.
Up to date Ethereum blockchain, or any other blockchain, has huge scalability issues. Remember, bitcoin transaction costs/speed, Status ICO and delayed Ethereum transactions, or any other large/complex activity connected to the blockchain.
Another problem is that, so far, there are almost no programmers who fundamentally understand how blockchain works and can program. Today, programming on a blockchain is something like programming a search engine (Google) in 1996.
And that’s why most ethereum based/decentralized RNGs (actually, most of blockchain projects) are not properly functioning.
A proper casino business MUST have an RNG which:
- Can generate a random number in less than 1 second
- The cheating factor is decentralised by a blockchain
- Is capable to work for a large number of people simultaneously
- The cost of a random number is reasonable (low gas/ transaction cost)
If these factors are not fulfilled, it’s impossible to create and scale a properly functioning gambling business.
Now, let’s take a look at how most popular Ethereum gambling projects are coping with the issues mentioned above.
vDice ( https://www.vdice.io/ )
RNG speed: 1-2 minutes to generate a number
Gas (price player pays for 1 game): $1.06
Etheroll ( https://etheroll.com/ )
RNG speed: 3–5 minutes to generate a number
FunFair ( http://funfair.io/ )
RNG speed: less than 1 second
There’s a catch: it’s not a blockchain casino and cheating factor isn’t decentralised. Their internal casino server is generating a random number (that’s why it’s so fast) and has a full power to cheat against its own players. Their deposit/withdraw system has an Ethereum integration like most bitcoin casinos as they can accept bitcoin. This message can misleads gamblers into thinking that’s a decentralised solution, which is not; however, it’s just their showcase product, and hopefully their launched version will have a decentralised cheating factor.
As we can see, most Ethereum gambling projects have some serious issues related to: RNG speed, gas size (game costs) or cheating factor.
And now it’s time for Edgeless RNG while playing Dice:
RNG speed: less than 1 second
Gas: still being optimised, but it will be less than 5 USD cents.
So, what’s our secret: we are using a hybrid model minimising blockchain transactions needed for RNG. RNG is inside our server, allowing us to reach speeds of less than 1 second and serve millions of gamblers. Blockchain records every action what is happening inside a server and uploads it publicly. Final outputs become visible on a blockchain explorer and that decentralises a cheating factor of the casino. Have a look at a detailed explanation on our whitepaper: https://github.com/EdgelessCasino/White_paper/blob/master/White_Paper.pdf
Feel free to try out beta Black Jack which uses our RNG system: https://beta.edgeless.io/
Secondly, we are on a process of getting a casino license + RNG certification. That means there will be a legal entity backing up our RNG, and giving extra credibility for our brand.
And that’s why we dare to name ourselves as a First Ethereum based Casino.
Our platform launch, 0.1 version, is happening in Q3. Next week, we are releasing a detailed platform functionality map so you can know what to expect. Stay tuned!
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