Ethereum is actually the latest type of cryptocurrency introduced in June2015. It allows users to send and receive all kinds of payments via the internet. This does not involve any central authorities, regulations, taxes like Bitcoin. The fact that ETHis based on a concept of a decentralized and programmable platform using smart contracts makes it different from the other cryptocurrencies. Such contracts help in creating efficient economic organization systems for different types of projects like gambling sites, apps, banks,enterprise solutions where every transaction is based on a unit called Ether or ETH.The way in which this smart contracts of Ethereum work, it will soon revolutionize the entire concept of cryptocurrencies and their usage even in the field of gambling. Till date, the value of ETH went up by 300% compared to that of Bitcoin.
Depositing with Ether
Depositing Ether at the Ethereum gambling casinos is similar to that of Bitcoin. As a player, you need to purchase this Ether from any of the online exchange and make your transaction from your wallet to the wallet of the ETH casino. Now, while making such deposits you need to note certain points like:
- The addresses of Ether walletsare different from that of Bitcoin – Never send Ether to a Bitcoin wallet, this will complicate the process and your Ether might also get lost. An Ethereum wallet can be identified with the first two characters of its address i.e. it would start with “0x”.
- Give some time for the deposit to be visible–Mostly, your deposit becomes visible as soon as the transaction is broadcasted, but at times it requires certain confirmations before crediting the amount to your account. An average confirmation usually takes around 15 seconds, so don’t panic.
- Make sure it is sent to the right address – Be very careful, once your Ether is sent to any other wallet, there are chances of getting lost forever. So, always double check the wallet address before making any deposits.
These are few evident advantages offered bygambling with Ethereumlike:
- It promotes social interactionby playing the games
- Encourages investing in gambling games or apps
- It would eventually eliminate the need of casinos
ETHpromises to open up some of the most innovative and thrilling opportunities worldwidein the field of online casinos and gambling.
Some unique games
The developers of the ETH network also work on unique games catering to the needs of the members of their own community. These games normally have specific characteristics related to Ethereum, just like how Bitcoin games are based on its own story.The origins of both the cryptocurrenciesare the same. Ethereum gambling effectively initiated with games like Crypto Kitties, Ether Rockets, Crypto Zombies, Ether Craft, The Pyramid Game, Krypto War etc. The features of both networks namely Ethereumand Bitcoin are similar but it is just the differences in the stories that take them in diverse directions. This is a valid reason why as a player you can expect a variety of unique ETH games to develop.