The Evolution of Online Gaming with Bitcoin and Blockchain Technology




In the early days of Bitcoin, it was considered to be similar to other in-game currencies like Second Life's Linden Dollars.
bitcoin, casino, cryptocurrency

The adoption of new technologies in the virtual world happens not first in the mainstream businesses but the entertainment and recreation sector. Two online industries — gaming, and adult entertainment have always featured in the list of early adopters of technological breakthroughs, creating new standards for all the other segments to follow. The relationship between gaming and cryptocurrency industries is a long-standing one, and now the bond has turned much stronger, thanks to the adoption of digital currency by online gambling and casino platforms.

In the early days of Bitcoin, it was considered to be similar to other in-game currencies like Second Life’s Linden Dollars. But over time, the cryptocurrency has proven that it is much different from those currencies and has more value in the real world than the virtual world. The powerful gaming hardware— GPUs played a major role in cryptocurrency mining, paving the way for specialized FPGA and ASIC mining hardware.

The widespread adoption of cryptocurrencies and their advantages over fiat currency has played a significant role in its increased adoption among online gambling platforms. The number of Bitcoin-only and cryptocurrency-supported online gaming platforms are on the rise, with new platforms and game titles being added on a regular basis. A handful of gambling platforms has also gone a step beyond to develop blockchain-based games with smart contract integration to create a new generation of online gambling games.

The global nature of cryptocurrency gambling platforms makes it easier for players from any part of the world to access and wager their Bitcoin stash. The situation has also led to a rise in the number of people looking for suggestions regarding the best, reliable online gambling platforms, to prevent themselves from being scammed by fake websites. Reputed casino review sites are playing a significant role in helping cryptocurrency enthusiasts, and avid gamblers choose trustworthy platforms offering provably fair games.

However, when it comes to cryptocurrency investments and gambling of any sort, the golden rule remains the same. Investors and gamblers are urged to keep track of their spending and ensure that they don’t invest more than what they can afford to lose. Also, irrespective of the platform and reviews, it is best to conduct a thorough due diligence to ensure the legitimacy of programs and platforms.

Published by

Gautham

Gautham has an eye for anything new. He has been part of multiple startups and his current project focuses towards the social good sector. An entrepreneur, engineer and enthusiast (bitcoin, of course), he has been moonlighting as a writer for multiple publications and currently writes at NewsBTC. Find him on twitter as @gautham_n and on facebook at /gautham.nm

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