There are two main issues for gamblers, regardless of what game they choose to play. The first is that players feel that they can never be sure that games are 100% fair, and the second is that they will always need to overcome the house edge in order to win.
Sp8de is a new platform that will use blockchain technology to fix both of those problems.
What is Sp8de?
Sp8de is a new technology platform that developers can use when they make casino games. It is built on top of a cryptocurrency called Cardano, which is currently the 5th largest cryptocurrency behind Bitcoin and Ethereum.
Cardano uses a proof-of-stake protocol called Ouroboros, which provides the randomness required by casino games. Without going into the specifics of how blockchains work, or what makes Cardano and Ouroboros unique, what this means is that Sp8de can provide casino game developers with a new kind of random number generator that is transparent and provably fair. As explained by CryptoSlate:
“Perhaps most importantly is the fact that with Sp8de online, gamblers finally have a guarantee that all numbers generated are entirely random and incorruptible. By using Cardano’s unique proof-of-stake (PoS) system, all generated numbers are entirely random and unbiased. The numbers’ integrity can never be compromised as the blockchain was designed to serve as the platform’s broadcasting channel, meaning that all numbers are entirely created on-chain.”
If you are unfamiliar with blockchain technology, it can be a bit daunting to understand. The easiest analogy is to think of a document – when you write a document in word, you can then mail it to someone and ask them to make changes. Until those changes come back, you won’t make any edits yourself. That person edits, mails it back, and then you can continue to change the document.
For a long time, that’s how banking transactions and other internet protocols worked, with data being locked, sent to the next spot, changed, returned and then unlocked. Obviously, this can be time consuming and inefficient.
With blockchain technology, that document becomes like a google doc, where everyone can see it at the same time, making edits simultaneously that appear on each other’s systems in real time.
The added benefit of blockchain tech is that it’s safer from hacking than other systems, and is considered more transparent or fair because everyone can have access to the same database without compromising its content.
How Does it Interact With Cryptocurrency?
Sp8de will work with cryptocurrency along two lines. First, it will use the underlying algorithm to create the random numbers needed to run casino games. This means that casinos and players can rely on a provably random and transparent system, instead of needing to use additional third-party auditors or other approval systems.
Second, casinos using Sp8de will actually earn cryptocurrency. Early adopters have the potential to earn more coins at slower rates, with later adopters having a higher chance to get coins but in smaller jackpot sizes.
This means that simply by running games using Sp8de, casinos could earn cryptocurrency.
How Will it Change Gambling?
Sp8de will essentially eliminate the two main issues in gambling, or at least that is the goal.
Gamblers will be able to trust the true randomness of the games that they are playing. While most online casinos are adamant that their random number generators are truly random, it’s hard for players to know for sure because it’s just an algorithm that’s certified by a third party.
Games built on the Sp8de platform will be able to prove their randomness by showing the actual blockchain, which will add a whole new level of trust and transparency to the system.
Additionally, because casinos will be earning cryptocurrency when they use the Sp8de system, they will actually be making money by hosting games. As a result, you can expect to find casinos running this platform that promise players much lower or even zero house edge games.
Imagine playing your favorite casino game with truly even odds, with the house not always winning? It’s a dream come true for gamblers, and is sure to attract a ton of new players.
What Can You Expect Going Forward?
Blockchain is changing the way the internet works in a range of sectors. While banking has been the most natural first step for the technology, gambling is a clear next one. Who knows, we might even see blockchain enter into other aspects of our society as more of the internal issues are resolved.
For the average person, we can expect technologies like Sp8de and other blockchain gambling applications to make it more profitable for players to play casino games. Gameplay will be more provably fair, and payouts will be higher thanks to casinos earning additional profits from cryptocurrency.
Going forward, assuming that Sp8de is successful, it will be an important proof of concept. Right now, it takes ten to fifteen minutes for transactions to be completed in blockchains. Sp8de’s use of Ouroboros means that they can handle a ton of transactions, regardless of their size.
Don’t worry, you won’t have to wait ten to fifteen minutes to know the outcome of your roulette spin or blackjack hand. Instead, Sp8de and Ouroborous can use microtransactions instantly for players, while the backend blockchain will maintain its consistency.
Just as blockchain technology will be influencing the gambling sector, it appears that the gambling sector will then influence blockchain technology. Once Sp8de proves successful, it could help to make to blockchains and cryptocurrency more efficient.