Ethereum is an encrypted currency launched in June 2015, allowing users to send and receive payments via the Internet without the need for centralized authorities, taxes or regulations, much like Bitcoin. It basically differs from any other currency on the basis of a decentralized programmable platform that uses “smart contracts”. These contracts are used to create an effective economic organization system for applications, gambling sites, enterprise solutions and bank transactions as well. All transactions are made in “ether” or ETH which is the universal unit for Ethereum. Ether’s smart contracts have unlimited applications, and it is expected that they will revolutionize the concept of encrypted money. One of these applications is gambling and with the recent boom in Ether’s value, it is attracting more and more players.
Ether Gambling is safe from online scams as the concept of Smart Contracts provides sufficient safeguards. Much like legal contracts, Smart Contracts have their own clauses and conditions but they’re not enforced by any single third party which allows users to have full control of their assets. However, these Smart Contracts are complex decentralised programs which can revert back transactions upon violation of any of its clauses. So, everyone can keep their gambling assets secure now.
Best Ethereum Gambling Sites 2020
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This currency operates on a block-chain technology which makes it secure against Denial of Service or spam attacks. Blockchain infrastructure operates on a concept called “Proof of Work” which envisages that the service requester should perform some computational tasks as “good-will” before it is allowed access.
Gambling with Ether is quite similar to gambling with Bitcoins, however Ether is not as ubiquitous as Bitcoin. But, there are plenty of online exchanges which can be used to trade Bitcoins for Ethers. However, a Wallet is required to receive your newly purchased Ethers. There are quite a few wallets available for Ethers but ‘Mist’ comes highly recommended by the community as it has been developed by the Ethereum Foundation. It can be downloaded from their official website.
But, the obvious question remains; Why gamble with Ether?
Bitcoins have been in the market for over 7 years and they’ve appreciated in value over these years to reach an expensive but stable exchange rate. However, Ether being the newer currency has a lot of potential to grow and even surpass Bitcoins as the main crypto-currency. The reason being, the Ethereum network is still growing and as developers build Dapps (Decentralised Applications) more and more functionalities are added to the Ethereum network. While it is common knowledge that there are very few places that deal in Ethers, it should be kept in mind that your effort to win Ethers will be worthwhile as they will continue to appreciate in value way faster than any other crypto-currency.
Also, it should be kept in mind that Ether became operational in 2015 while similar crypto-currencies like Litecoin and Dogecoin had been established for quite a few years, and currently the market capitalization for Ether is greater than the combined market cap of Litecoin and Dogecoin. This sudden increase in Ether’s value has attracted more developers and investors to the Ether infrastructure which will lead to increase in the frequency of Ether use, allowing Ether gambling to establish a strong foothold in the crypto-currency world. So, the financial state of affairs is in accordance with the predictions made above.
Also, Ether gambling offers utmost anonymity and low fees on transactions as compared to other crypto-currencies. Ethereum is very secure and stable as applications made and deployed on this network are usually capable of functioning on their own without maintenance for long periods of time.
Given below is a brief account of different games along with the casinos where they can be played using Ethers.