Playing gambling anywhere, of course, has a greater risk of losing than winning. Not a few online gambling agents cheat to trick their users. This of course is very detrimental to users. So the existence of a blockchain security system in gambling is felt to be able to reduce this cheating rate.
Blockchain was first created by Satoshi Nakamoto. He developed the blockchain in 2008 for bitcoin cryptocurrency transactions. This is what then becomes the starting point for solving financial problems. The blockchain for bitcoin is designed to solve the problem of double-spending without a third party.
The presence of blockchain then inspired many developers to develop cryptocurrencies or cryptocurrencies. This virtual currency is stored and used in cyberspace only. The security system on the blockchain is claimed to be able to ward off this type of fraud.
One use that is being tested is in the world of gambling. Online gambling is a part of the blockchain system if the payment system on a site uses cryptocurrencies such as bitcoin.
Some of the booming blockchains have a focus on the world of online gaming. For example, EOS and TRON rule the blockchain in the realm of online gaming and gambling. The two of them are fierce fighters who keep pace with etherum as the number one blockchain.
The existence of this relatively new system is expected to provide benefits for many users. It is also alleged that the blockchain security system is expected to be able to reduce the number of cheating in online gambling games. Then how do you do it?
WTB, Blockchain Fraud Suppression
Playing the lottery is a fairly easy game. Players don’t need to do a special strategy to win it. Unfortunately, the lottery game often gets interference from the dealer so it’s easy to cheat.
One of the blockchain security systems that is currently developing, namely WTB, is a blockchain that carries the dAPP system. dAPP is a system where there is a decentralized platform in it.
The WTB blockchain is claimed to be the first blockchain to combine blockchain and lottery. Here, the system can track transaction and bet data so as to reduce the number of cheating.
If in some gambling sites there is fraud committed by the dealer, then the presence of WTB will increase the trust between the client and the site provider. When a user places a bet on the blockchain, the platform will send the reward directly through the program.
Blockchain’s immutable, tamper-proof, or editable advantages make any game difficult to manipulate. WTB is open source or open to players. So that when something goes wrong and wants to track it down, the system can do it.
Apart from suppressing cheating in the online game system, WTB also has other advantages. WTB which owns WaykiChain can be used for free without any fees. It’s different from other dApp such as the paid EOS and Ethereum. All user transaction fees are borne by WTB.
The virtual currency used in transactions in the digital world, of course, has a fluctuating value. This means that users can lose when the value of the currency drops sharply. This problem must be very serious, right?
With WTB, this concern can be suppressed because WTB uses the stable currency platform WLC. The virtual money in it can be exchanged into WLCs currency. This type is more stable. So when you win, these WLCs can be exchanged for other cryptocurrencies or legal currencies legally.
Some Cheats in Lottery Games
Cheating that occurs in this online lottery game occurs for several reasons. The one that causes the most fraud is the bookies themselves. And with blockchain, this possibility can be further suppressed.
The online lottery gambling industry that is currently developing is at greater risk of being cheated than conventional lotteries. Online lottery gambling using the internet allows anyone to tamper with it.
What are these risks?
Bookies cheat. The bookmaker can see the user’s card and change it through the existing system. He can control the ongoing game.
Fighting bots increases the risk of losing. Playing online gambling against bots can make it easy for someone to lose. This happens because the computerized system makes bots superior to players.
Very centralized platform. Many online gambling sites use a centralized system or refer to the center. The existence of a centralized system often causes fraud problems. With blockchain, the system in online gambling games will be more decentralized and suppress cheating.
Blockchain As Innovation
Online games are indeed very adaptable to any changes. So it is not surprising that blockchain can enter and be integrated with this system. Online games that use an internet base, of course, require an efficient system.
With the blockchain, gambling activity such Bitcoin online gambling will be more efficient and effective. In addition, the use of bitcoin or other cryptocurrencies can make it easier for users to transact. The ease of this transaction will of course make it easier for players and providers.
Even though the security system on the blockchain is fairly good, users must be careful and wise in using it. This is because the value of cryptocurrencies is volatile and unpredictable. It could be that the value drops and has the potential to lose.