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MECA Coin – Creating a Democratized Online Gambling Ecosystem on Blockchain

Avatar Guest Author 1 year ago

The introduction of Bitcoin in 2009 sparked the beginning of a huge technology shift, as the cryptocurrency’s underlying blockchain technology found widespread applications across a range of industries. The unique properties of cryptocurrency ledger are now being integrated into existing processes to improve efficiency and transparency.

MECA Coin is one such application of the blockchain technology, to create a revolutionary online gaming and gambling solution – MECA Casino. The platform fueled by MECA Coin aims to inject vibrancy into the not so sophisticated conventional online gambling sector. The use of distributed ledger and smart contracts in the platform brings in the much-needed transparency and integrity to the online gambling operations, ensuring fair play on both sides of the table.

Reviving Trust in Online Gambling

Many online gambling platforms are often blamed for having an undue advantage over the users, enabling them to rake in huge profits. These accusations aren’t without basis as there are very few trustworthy gambling service providers in the entire ecosystem, while the remaining try to rake in profits at the expense of unsuspecting gamblers. The confidentiality and secrecy surrounding conventional online gambling platforms makes it almost impossible to confirm whether the platform is fleecing its clientele, or they are just plain unlucky.

MECA Coin is addressing this specific issue by bringing in transparency and automation to the segment.  These factors, combined with the immutable nature of blockchain records, hold the potential to inspire confidence among users about the fairness of the gambling platforms.

MECA Casino uses blockchain to generate random numbers, over a triple layer system. It then records the results for viewing on the public ledger. The platform employs smart contracts to settle winnings. This means that no operator interacts with the entire process — from number generation to winnings settlement. Similarly, the process can be verified as everything takes place on-chain.

Offering an Exciting Game Experience

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Blockchain solves the issue of trust and transparency but doesn’t make gambling any more exciting than other platforms. So, Crypto MECA (creator of MECA Coin and MECA Casino) has joined hands with ME2ON, a South Korean virtual casino game developer, to provide an immersive gambling experience on the platform. Together, they have come up with out-of-the-world 3D game templates with a wide range of themes. These highly attractive, enjoyable and imaginative game interfaces include themes from outer space and Greek mythologies.

Patrons on MECA Casino are bound to enjoy the intriguing game interface that gives them the experience of real-life casinos while assuring credibility and transparency at the same time. So far, MECA Casino has inducted 7 game titles including the popular Texas Hold’em, Baccarat and Blackjack games. Another 15 -20 games are in the pipeline, expected to be completed by the time of the casino launch in the third quarter of 2019.

Only the Best Tech

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MECA is a new-age platform using the best of technology. It is built on a 3rd generation blockchain platform with advantages over other blockchains in terms of connection and high transactional speeds. This is enabled by ICON – MECA’s parent platform on which the MECA Casino DApp is built.

MECA Coin is the foundation coin of MECA Casino and users are required to purchase these tokens to be able to play on the platform. The casino operates using MECA chips which has a guaranteed 1:1 exchange ratio with the MECA Coin. Further, users don’t have to rely only on their winnings to earn on MECA Casino as they can also become part owners of the platform.

Democratizing Online Casinos

The MECA platform is totally decentralized and it allows members to purchase the casino assets, thereby owning and operating the master nodes. Master node owners can trade casinos among themselves through smart contacts over MECA Casino’s secure trading system and also determine the games, layout, and décor of the casinos they own. By doing so, MECA Casino ensures that no single entity holds the monopoly and encourages creativity and innovation through competition for a better gaming experience for its users.

Currently, there is a limit on the number of master nodes, which is expected to be raised as the userbase grows. The platform has tentatively set the profit sharing between MECA and master node owners at a ratio of 4:6.

MECA Coin tokens will be listed on various exchanges, allowing the community members to trade them. The use of MECA Coin to purchase MECA chips for use on the casino platform will further drive the demand upwards, potentially rising the token value by many folds.

In 2019, MECA Casino will also introduce sports betting service.

More information about MECA Coin is available at – https://mecacoin.io

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