Banking On ICONbet: The Casino Of The 21st Century
Introduction: What Is ICONbet?
In the flourishing and expansive ecosystem known as blockchain and cryptocurrency, a focal component of mass adoption must be the ability to conceive of decentralized applications that perpetuate and expand the overall usage and utility of blockchain platforms: ICONbet does just that. ICONbet is the leading ICON d’App and the first DAO (Decentralized Autonomous Organization) built upon the ICON Republic. ICONbet is a betting platform that emphasizes gaming, specifically at this moment, two games are built upon ICONbet: DAOlette and DAOdice and a third, Blackjack, is set to launch by the end of this month. New games will be added as the ICONbet platform continues to grow. New games can be built by either the ICONbet team or a 3rd party partner developer team interested in leveraging the existing ICONbet platform (Blackjack and Lottery are two games being developed on ICONbet through 3rd party partners). Ever wanted to own a casino? ICONbet allows individuals to pursue that vision!
The incumbent necessity of generating transactions and value within the cryptocurrency sphere cannot be overstated, and ICONbet amalgamates the expansion of transactions through gaming and thus, adds value to the ICON ecosystem in a variety of methods; to begin, ICONbet allows new potential investors to learn about ICX through ICONbet, new individuals must buy ICX to play ICONbet and through ICONbet, thousands of transaction fees are processed everyday. In terms of play, it is human nature to learn through empirical observation and entertainment; Socrates once said in “The Republic” by Plato “enforced learning will not stay in the mind, avoid compulsion, teach individuals in the form of play and gaming, for it is a more natural way of learning.” As a decentralized application built upon the ICON Republic, ICONbet embodies the principles of democratic republicanism through their unique voting paradigm.
Embodying The Principles Of The ICON Republic: DAO Voter Participation And The Concept Of Transparency
In an ecosystem that embraces the idea of equal and equitable representation, ICONbet emphasizes these principles through the usage of DAO Votes. DAO votes are votes created that influence the shaping of the ICONbet Platform, truly putting the power into the players hands. The way these votes are calculated are through TAP Tokens which are tokens that are earned through the ICONbet platform on the basis of an ICONists total wagers for that specific day; this paradigm of concept is known as “mining TAP.” Over one million TAP tokens are mined on a daily basis and ICX is distributed to TAP holders on the basis of TAP holdings. Many DAO votes have already occurred within ICONbet and it is important to highlight these decisions. The first decision decided by ICONbet owners was the “economics” vote, which emphasized a change to 50% profit for the development team of ICONbet and introduced Wager War. The second vote highlighted staking for a P-Rep with ICON’s Got Talent Award (specifically P-Rep team IBriz). The third vote emphasized a third party game which is “Blackjack” which is coming at the end of the month and lastly, the fourth vote is in process to create a third party game known as “Lottery.”
Transparency is a crucial component of any institution, application, organization or entity that exists within our modern world; how can we know what we’re involved/invested in if the intricate components of that specific entity or application aren’t clear? These questions are a focal reason on why ICONbet chose the ICON blockchain. The benefits of ICONbet utilizing the ICON blockchain is a paradigm known as “Random Number Generation” which is a transparent smart contract that is open sourced to the entire world, not to mention that individuals play the games within ICONbet with ICX from their own wallets; this specifically is part of web3 functionality, so there is absolutely zero risk of ICONbet stealing ICX from ICX coin holders. Within ICONbet, transactions are extremely fast and gas fees are extremely low. Provided is a list of the open source smart contracts; emphasizing and emboldening the ideals of transparency that the ICON Network upholds!
Open Sourced Smart Contracts:
Token Contract: cxc0b5b52c9f8b4251a47e91dda3bd61e5512cd782
Rewards Contract: cx3b9955d507ace8ac27080ed64948e89783a62ab1
Dividends Contract: cx75e584ffe40cf361b3daa00fa6593198d47505d5
Game Contract: cx1b97c1abfd001d5cd0b5a3f93f22cccfea77e34e
The Transaction Of Achievement: ICONbet’s Strength
ICONbet boasts incredible achievements within the ICON ecosystem and also, recognition of the success of ICONbet has been acknowledged outside the ICON ecosystem as well. To begin, ICONbet generates a large majority of the transactions within the ICON network; specifically, ICONbet generates between 25–50% of the transactions within the ICON network on a daily basis. Since its conception as a decentralized application, over 75 million ICX has been spent on ICONbet and over 1.2 million ICX has been distributed to TAP holders thus far. ICONbet hosts an incredible and active Telegram community, boasting over 430 members. On ICONbet, an incredible number of transactions have been achieved; over four million transactions. On a daily basis, ICONbet generates over 20,000 transactions on the network, 1 million ICX has been spent on ICONbet, and over 20k ICX has been given out to TAP holders in January so far. At the time of writing this article, we’re only half through the month of January; these transactions numbers are a tremendous feat whose numbers are virtually unrivaled by a majority of the d’apps that exist within the cryptocurrency sphere today.
ICONbet is one of ICON’s Got Talent Final Winners; which was a transaction challenge that occurred from June 28th to July 31st, 2019. ICONbet was not only the winner of ICON’s Got Talent, ICONbet was also featured as the first ICON d’app to be listed on D’app Review: https://dapp.review/dapp/12649/ICONBet. ICONbet boasts a reputation of giving back to the community, facilitating the first ever ICX d’app to do an ICX giveaway for the community. ICONbet draws incredible amounts of daily volume and transactions, in fact, ICONbet is a top 30 d’app in terms of 24 hour volume in the entire blockchain ecosystem; this is not just the ICON ecosystem we’re talking about, this includes every single major blockchain network in the entire cryptocurrency sphere; such blockchain protocols include EOS, Tron, Ethereum etc. ICONbet is quickly becoming a leading igaming platform within the ICON ecosystem and this is truly evident by the prosperous and active community and the flourishing amount of transactions that occur within ICONbet.
Conclusion: ICONbet: A Triumph Of D’apps: A Leading DAO
ICONbet is the leading d’app within the entire ICON ecosystem and its achievements cannot be overstated. From the leading d’app within the ICON ecosystem, to a top 30 decentralized d’app within the entire cryptocurrency sphere, to boasting over 25% of the ICON network’s daily transaction output, to being recognized by D’app Review and third party developers creating games on ICONbet, it is evident that ICONbet is one of the heralds of d’app utility within the ICON ecosystem and the cryptocurrency sphere as a whole. ICONbet has proven itself as a leading d’app and a quintessential component of the ICON ecosystem that embodies the principles and virtues of the ICON Republic. Long Live ICON!
Interested In Learning More About ICONbet: Visit These Links Below!
ICON’s Got Talent Final Winner: https://medium.com/helloiconworld/icons-got-talent-final-award-a6c1ab84c777
Disclaimer: Cryptocurrency investing and gambling requires substantial risk, do not invest or gamble more than you can afford to lose! I am not a financial adviser and I am not responsible for any of your trades. I am an investor of Icon Coin and the information within this article represent my own thoughts and opinions. It is incumbent that you always do your own research before investing in anything!