Online gambling is a multibillion dollar industry and poised to become even bigger due to an increase in profit as the interest grows with an improved accessibility to resources, like faster internet networks, for people all over the world. The proliferation of betting sites is a tell tale sign of the user base it has come to enjoy, and also its massive worldwide scope.
And with increased traction and net worth, the innovations in the industry are obviously to follow. One such innovation is heralded by Peerplays. The firm has managed to come up with a global peer-to-peer betting platform built on top of Blockchain. The Peerplays blockchain, set to launch on May 30, 2017, will make online gambling accessible to users in every country on Earth.
Online gambling, even though extremely popular, is plagued by serious issues like fraud and cheating both by players and the gaming platforms. The players are now raising their concern over the issues and also looking for benefits like fairness, accessibility to all and assured privacy.
Peerplays solves these issues with its Peerplays Blockchain. The decentralized applications, which is set to be released soon, will allow users to access Peerplays from anywhere in the world, solving the accessibility issues. The PPY tokens even ensure that the holders are able to participate in all the activities of the Peerplays Blockchain, making it transparent.
The greater accessibility also helps the platform in ensuring provably fair gaming as connecting players from all around the world makes for a gambling experience where the scope for cheating is negligible.The smart contracts ensure peer-to-peer wagering with real-time interaction between users around the world.
The two new decentralized applications poised for a launch later this year will further help improve the online gaming environment, as the two apps connect users directly peer-to-peer through a decentralized Blockchain network.
The ‘dapps’ or decentralized applications will enable anyone with an internet connection and some bitcoins to access Peerplays. Other digital currencies can also be used, in addition to Bitcoin, to bet on sporting events, casino games, instant lotteries and online tournaments from anywhere in the world.