The increasing number of online gambling platforms has made it hard for people to differentiate between the ones that are genuine and those that aren’t. However, there is a solution that makes identification easier, thanks to smart contracts, blockchain technology and the level of transparency associated with them. DAO Casino is one such protocol based on Ethereum’s smart contracts technology that removes the need of trust between parties involved in online gambling.
DAO.Casino protocol automates the whole value chain of the gambling industry, minimizing human intervention and increasing trust factor in the process. The decentralized PRNG for games created/implemented further enhances its reliability. The creators of DAO.Casino, Ilya Tarutov and Konstantin Lomashuk have recently published a whitepaper titled “Blockchain Protocol for Gambling” where they discuss the use of blockchain to introduce ease of transaction while ensuring the integrity of data on online gambling platforms.
Random Number Generation algorithms play a major role in ensuring fairness of the online gambling platforms. DAO.Casino enables decentralization of PRNGs while ensuring compliance with the industry requirements in terms of speed. In addition, the platform extends the implementation of smart contracts to various aspects of online gambling, including game contracts with reward distribution logic and PNRG, referrer system, and an open bankroll backing system.
A recent media release from DAO.Casino quotes the CEO of DAO.Casino, Tarutov saying,
“We were observing a lot of experimentation with games using Ethereum smart contracts. But apart from the individual games what is needed for the industry to grow is an ecosystem that allows all the market participants to interact. DAO.Casino aims to solve questions from the value chain perspective.”
The development team behind DAO.Casino is currently working on further improving the “provably fair” characteristics of the platform. The platform, in its alpha stage already has a prototype Dice Game running on Ethereum testnet. By the end of next month, the platform plans to introduce the MVP, followed by a crowdfunding campaign.
Ref: Media Release | Image: NewsBTC