The highlight feature to this (new) alternative form of online gambling is that it encourages a fair process for all new players. The process of ethereum gambling is new in the sense that up to now most readers will have only gambled conventionally with cash, using credit or debit cards for their online gambling enterprises if not showing up at live gambling centers in their towns or cities. A new form of crypto-currency known as ethereum is being used to gamble and there are a number of online guides to show readers how they can go about acquiring this crypto-currency in the correct manner.
Ethereum gambling typically takes the form of ‘spinning the wheel’ via the EtherSpin. This game utilizes decentralized applications within its ecosystem. It is unlike other conventional online gambling sites, vastly improving the chances of playing it fair through the use of this cryptocurrency’s blockchain. All processed bets through this system need to be verified and, indeed, are verified before being passed.
Bets that cannot be verified within the system are promptly rejected. To make sure that all bets entering the system are fair, and can be proved to be fair, the ethereum gambling game uses Oraclize’s random number generator. Oraclize is a member of the Ethereum enterprise. Other than for the verification of gambling bets, many services being processed via Ethereum are using Oraclize for the retrieval of essential data.
Bytes of randomized data enter the system. These data are collated for verifying players’ bets and authenticating and proving. The checks and balances processes in place greatly improve the chances of all bets being consistently fair and reliable. To check all data an algorithm known as SHA256 is being used. This algorithm is also open to being used by gambling users themselves. It is they who can freely verify opposing or proposed bets.
The EtherSpin game needs to rely on Oraclize to generate the required number of random numbers in line with the number of bets being received. It any bets received through this system are deemed to be invalid, they will simply be rejected by Oraclize. And such bets will simply not be processed. It is also possible for users to verify bets wide of the blockchain or without any contracts in place. Playing games of chance should, in any case, be fair and sporting, giving everyone an even chance of winning.