Zero Edge Casino is a decentralized online casino, and an open protocol which aims to disrupt the online gambling industry. It is a unique blockchain based online platform with zero percent house edge casino games and commission free sports betting exchange. It is also open source, allowing anyone wishing to have their own online casino to build and operate customized games. The company has introduced a token named Zerocoin, which is a major part of their business model. There has been significant interest in the pre-ICO launching phase of Zerocoin, with an estimated $5 million collected in that timeframe.
Today, the betting and casino industry mainly consists of traditional and online casinos. With the rise of online casinos though, players can play at a time and place of their comfort and choice. Zero Edge is proposing a breakthrough in the online gambling segment by combining the industry with the overall concept of cryptocurrencies such as bitcoin.
Cryptocurrency and its Promise for the Gambling Industry
Bitcoin was introduced by Satoshi Nakamoto in 2009 and joined the mainstream by 2011. Bitcoin is based on blockchain technology, which is both, decentralized and secure. Furthermore, transactions are anonymous where only the cryptographic address of the sender and receiver can be obtained.
The gambling and betting industry is heavily regulated across the globe. Hence, players from certain countries cannot access online gambling sites. Bitcoin, being an excellent tool for sending money across borders, then became a favorite of the gambling industry. Gambling providers soon adopted the cryptocurrency, marking the start of digital currency-based gambling sites where players would use them exclusively for playing or buying gambling chips.
Even so, there are certain problems plaguing the online gambling industry, perhaps best solved by Zero Edge’s approach. In bitcoin-based casinos, the transaction fee ranges between 0.1 to 1.0 percent but can still be astronomical during times of network congestion. Security too has become a major factor for online cryptocurrency-based gambling platforms as they have been hacked in the past.
How Zero Edge is Advancing Online Gambling
Online casinos charge high transaction fees from one to 15 percent for enabling the gameplay to its users. They justify that the high fee levied is to cover the cost of payment processors and for managing the operating cost of the casino itself. On the other hand, Zero Edge boasts zero percent transaction and trading fees.
Zero Edge is built around Metcalfe’s law, which states that the value of any network is proportional to the square of the number of connected users of the system. The disruptive platform for online gambling is built on a blockchain network.
Zerocoin tokens are capped and will never be mined more than the decided number. The limited supply will result in more demand for Zerocoin tokens, which, due to their limited nature, will command a premium price. Consequently, the opportunity of buying Zerocoin tokens during either the pre-ICO or ICO periods even more attractive. Investors can view Zerocoin tokens as a long-term investment, and as stated by Metcalfe’s law, it is likely that the platform will be a great success.
Another major problem of the casino industry is that due to its profit-driven nature, casinos sometimes indulge in something known as house edge in which the game is set in such a way that the casino has a much better chance of winning than you do.
In order to avoid the problem of house edge, ZeroEdge has decided that it will run as a smart contract-based online casino network where all the transactions will be based on rules that would have already been previously written down in smart contracts. The hashed key generated by Zero Edge is controlled by the contracts and are thus censorship resistant. Furthermore, as the records on a blockchain cannot be edited, no modification can be made to cheat players.
With this, Zero Edge Casino is tackling the oldest and biggest problem prevalent in the entire gambling industry which has often been stated as “house always wins.” Zero Edge Casino is offering a true and fair experience where players can achieve 100 percent payouts if they play according to simple strategies.
ZERO Token Details
The native token of the Zero Edge platform is Zero Edge token (ZERO). All kinds of gaming activities on the platform will utilize ZERO. Zerocoin will be implemented as ERC-20 compatible token over the public Ethereum blockchain.
Zerocoins can be purchased directly on the Zero Edge platform using major cryptocurrencies such as bitcoin and Ethereum’s ether. These tokens will be used by players to place bets on all Zero Edge casino games, collect winnings from games, participate in special events such as poker tournament series, weekly giveaways, and for building and operating their own games.
The total supply of ZERO has been capped at 777 million tokens. Around 60 percent of those tokens, which totals at 466.2 million of the total token supply, will be offered to the public via pre-ICO and ICO rounds. The pre-ICO phase starts at 12:00 UTC on February 28, 2018, and ends on March 15, 2018, at 23:59 UTC. The hard cap during this timeframe is 1,500 ETH. The pre-ICO phase 1 will offer 38,000 ZERO tokens for 1 ETH.
The actual ICO opens on April 15, 2018, at 12:00 UTC and is expected to end on August 01, 2018 at 23:59 UTC. The ICO will see 1 ETH accepted in exchange 24,000 ZERO at a hard cap of 30,000 ETH and a maximum token supply of 720 million ZERO.
The team plans to get ZERO listed on cryptocurrency exchange platforms like Poloniex and Bittrex in the future. Once Zerocoin is listed on the platforms, its price is expected to fluctuate as per investor demand and trading volume.
Mr. Simon Bastide, who has over 12 years of experience in the sales at marketing department at PwC Consulting and Bwin AG, is the COO of the project. The team also includes Mr. Jai Balani who has vast experience and knowledge of the blockchain industry. Also in the team are Zoe Golan, Adrian Casey, Owen Pogue. Further information about the Zero Edge ICO can be found in the project’s whitepaper.
The post Zero Edge: the New Age Cryptocurrency Casino Built on a Blockchain Platform appeared first on BTCMANAGER.
Author: BTCManager.com
Leave a Reply