If you enjoy gambling and paid attention to the blockchain betting revolution, you may soon part ways with your bookie. As the online gambling market heads towards $60 billion in revenues by 2020, the competition among blockchain gambling operators to create the most innovative experience is getting intense.
For the dozens of new blockchain gambling operators, differentiation increasingly comes down to technology. Game innovation, speed, and fairness are important advantages.However, according to decentralized gambling exchange LetBet, all three of these features are limitations of the Ethereum blockchain.
To solve this problem, LetBet has developed its own blockchain: “Libertas Chain.” It is a clever fork of the Ethereum blockchain that does away with the limitations and creates a platform that can be used not only for gambling but many other activities as well.
This new blockchain is also a zero chain, meaning that it does not charge any transaction fees and is free to use for life. It is fast, extremely secure and creates the provably fair gaming system that is at the heart of LetBet’s gambling experience.
LetBet analyzed the Ethereum blockchain and while it’s excellent for many blockchain-powered platforms, the development team believes the Libertas Chain is a better fit for their platform, for a number of reasons:
Fast processing speed – In a society that looks for instant gratification, a respectable but slower blockchain transaction speed could turn off quite a few gamblers.
Bettors like to play fast. If they lose at the slot machine, they cannot wait to go the next round and try and improve their luck. A spin of the slot machine could take up to 20 seconds on the Ethereum blockchain, while some platforms state their average transaction time is a second.
The LetBet proprietary blockchain provides the same speed advantage as conventional betting infrastructure.
Real Random Number Generator — The Ethereum blockchain uses pseudo-random number generators (RNG). The LetBet platform supports a random number generator. The RNG is open source so bettors can ensure they are playing a random and probably fair game.
Integration — Integration across gaming models, third-party blockchain products and betting data and analytics could provide a new level of game mechanics and dynamics. LetBet’s open source system encourages game developers to integrate their models with other gambling games and non-gambling products, which will also be hosted on the system.
When it comes to data and analytics, LetBet provides a real edge to gamblers. It has developed an Integration Model that provides gamblers with an expanded breadth and depth of data.
For example, betting ratios from the leading sports bookies can be viewed in an aggregated manner. If LetBet succeeds, its gaming options, flexibility, and revenue sharing and reward system will keep gamblers happy and within its ecosystem.
The LBT token, exclusively available during the ICO phase, provides access to the LetBet ecosystem. The LBT coin is selling at a discount during the pre-sale, which began on January 20th. The LBT coin sale ends on April 5th.
This post is brought to you by The Cointelegraph and shouldn't be considered investment advice by TNW. Yes, TNW sells ads. But we sell ads that don’t suck.
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For the dozens of new blockchain gambling operators, differentiation increasingly comes down to technology. Game innovation, speed, and fairness are important advantages.However, according to decentralized gambling exchange LetBet, all three of these features are limitations of the Ethereum blockchain.
To solve this problem, LetBet has developed its own blockchain: “Libertas Chain.” It is a clever fork of the Ethereum blockchain that does away with the limitations and creates a platform that can be used not only for gambling but many other activities as well.
This new blockchain is also a zero chain, meaning that it does not charge any transaction fees and is free to use for life. It is fast, extremely secure and creates the provably fair gaming system that is at the heart of LetBet’s gambling experience.
Ethereum blockchain vs. Libertas Chain
LetBet analyzed the Ethereum blockchain and while it’s excellent for many blockchain-powered platforms, the development team believes the Libertas Chain is a better fit for their platform, for a number of reasons:
Fast processing speed – In a society that looks for instant gratification, a respectable but slower blockchain transaction speed could turn off quite a few gamblers.
Bettors like to play fast. If they lose at the slot machine, they cannot wait to go the next round and try and improve their luck. A spin of the slot machine could take up to 20 seconds on the Ethereum blockchain, while some platforms state their average transaction time is a second.
The LetBet proprietary blockchain provides the same speed advantage as conventional betting infrastructure.
Real Random Number Generator — The Ethereum blockchain uses pseudo-random number generators (RNG). The LetBet platform supports a random number generator. The RNG is open source so bettors can ensure they are playing a random and probably fair game.
Integration — Integration across gaming models, third-party blockchain products and betting data and analytics could provide a new level of game mechanics and dynamics. LetBet’s open source system encourages game developers to integrate their models with other gambling games and non-gambling products, which will also be hosted on the system.
When it comes to data and analytics, LetBet provides a real edge to gamblers. It has developed an Integration Model that provides gamblers with an expanded breadth and depth of data.
For example, betting ratios from the leading sports bookies can be viewed in an aggregated manner. If LetBet succeeds, its gaming options, flexibility, and revenue sharing and reward system will keep gamblers happy and within its ecosystem.
Launching an ICO
The LBT token, exclusively available during the ICO phase, provides access to the LetBet ecosystem. The LBT coin is selling at a discount during the pre-sale, which began on January 20th. The LBT coin sale ends on April 5th.
This post is brought to you by The Cointelegraph and shouldn't be considered investment advice by TNW. Yes, TNW sells ads. But we sell ads that don’t suck.
Did You Know About This?
You can curate a Personal Blockchain Page right here on Blockchain Company ( BC ) like these 2 great user examples here:
http://www.blockchaincompany.info/Paula
http://www.blockchaincompany.info/Francisco
Show your blockchain page of to your employer, colleagues and friends. It demonstrates your professional awareness and competency of this revolutionary paradigm changing the world. It's free if you are a consumer user. Just Create your Account here in less than 3 mins!
Or Click Create Account above in the upper right corner. Instructions how to curate your blockchain page from information you discover on BC, is sent in your email after you sign up.
You might be able to capture your ' first name " unique url for your blockchain page too! Like : http://www.blockchaincompany.info/robert
You may be entitled to cryptocurrency tokens, airdrops, offers and discounts at any time in the future once you are a user on our platform.
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Francisco Gimeno - BC Analyst Gambling, video games and porn are the biggest business in Internet. It is not surprising that gambling is developing its own Blockchain platforms and that they go beyond the classical Ethereum platform looking for more speed, integration and random number generation. What Playstation did to the virtual and augmented reality by researching and utilising millions of dollars developing better and more realistic games for pure entertainment, gambling can somehow do by creating a faster and reliable blockchain platform too. We will see anyway if this platform ("Libertas Chain") succeeds. This is not an investment advice.