The Edgeless Blockchain Casino Explained
Posted On 17/06/2019
Blockchain technology evolution has been around for a while, but now it has found its way into the gambling industry.
There is an increase in a wide variety of betting, gaming, and gambling projects integrating blockchain and cryptocurrencies as solutions to the many issues of the online gambling industry.
One of the unique projects making use of blockchain is the Edgeless platform which is a smart contract and blockchain-based casino. Hopefully, one day it will be added to the top bitcoin casino list curated by ICOPulse.com. It would help bring a bigger crowd to the casino and boost Edgeless value by quite a bit.
So, What is The Edgeless Blockchain?
The Edgeless platform is the world’s first casino that is powered by the Ethereum blockchain smart contract and designed to solve the issues of casinos.
This futuristic casino has the Ethereum blockchain at its core of operations. Hence, it is controlled by automatic smart contracts which give you crystal clear experience.
In an interview, developers said that this platform takes pride in being probably the most trustworthy Bitcoin casino platform that the world has ever seen. Plus, compared to the 0.5 – 1.5% house edge that comes with other casinos online, Edgeless comes with 0%. Amazing, right?
How Does Edgeless Work?
The Edgeless casino comes with gifts in hand. These gifts hope to solve the problem of transparency and house edge that comes with online casinos. How? By structuring a different business model and implementing a new method of operating online casinos.
That said, let’s walk through how the casino works.
While using the Edgeless platform, you get 0% edge. As a result, the house also gets 0% edge. That’s fair, right?
Additionally, Edgeless uses Ethereum’s smart contracts to ensure transparency. These smart contracts are taking care of pay-outs and selection of random numbers which are implemented on the Ethereum blockchain and are visible to the public.
This way, you see everything that happens on the platforms. From bets to sums, transactions, mechanism of random selection, and transactions. Plus, if the house tries to alter the results in any way, everyone will be notified immediately.
Also, in a scenario where you win a bet, the smart contract automatically transfers the winnings to you.
The Edgeless MarketCap and ICO
Like other blockchain-based projects, Edgeless has a native currency known as EDG. With this token, you can be a member of the platform and access its many features.
At the end of the Edgeless ICO in March 2017, 1000 Edgeless tokens were valued at 1 ETH. Moreover, in this period, the platform raised more than $2.5 million, making it the most thriving gambling ICO that was Ethereum-based during that period.
The Edgeless token has a market cap of 95,639,612, which is valued at $14.8 million and has a total supply of 132,046,997.
Before we Finish
Edgeless is an interesting blockchain project that looks like it has a lot of potential.
The platform is transforming online gambling by providing a solution to the lack of transparency and house edge that comes with the traditional online casinos.
Edgeless sure looks like it has a bright future.