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iGaming on Blockchain is the Future of Casinos

The coronavirus pandemic has shut down most casinos worldwide. Like most people seeking safety from the highly contagious virus, gamblers have transferred their attention and money online. The year 2020 has seen a surge in online gambling and many casinos and gambling companies need a more permanent solution as websites start to crash due to the amount of data being generated.

The solution is iGaming on blockchain, a technology that can accommodate massive amounts of data in a secure way. Shifting the entire casino experience online and in real time is difficult to achieve and there a lot of factors to consider. BitBoss, “an international team of gaming experts, blockchain innovators and technologists building technology to power the future of gaming and the new Internet,” recently succeeded in releasing the first ever blackjack game built on the Bitcoin SV blockchain.

“Like with our other offerings, every single bet and bet result for our blackjack game is a transaction on the Bitcoin SV blockchain. But with blackjack, we go further, because blackjack is a multi-action game; choosing to buy insurance, doubling, splitting, standing—every action is recorded as a blockchain transaction. This has a ton of benefits because everything is provably fair, you don’t have to build off-chain technology and try to scale it. Everything is on the Bitcoin SV blockchain,” Alex Shore, CTO at BitBoss, explained in an interview.

The BitBoss team has encountered the chain limit imposed by the blockchain protocol. The chain limit is hit because all real-time transactions between the player and operator are considered to be unconfirmed transactions until the block has been completely mined and confirmed.

“Given that, we do things to give the players more options of having different unspent outputs, or UTXOs, that they can use to place new bets, and we can start different chains on these different UTXOs. We have a limit where we can chain 50 transactions together (which works out to 25 bets), and we can do things where players can move BSV around and we end up where we have many different UTXOs to begin a new chain. We might hit the limit on one of these chains, but then we can start another and another,” BitBoss CEO Dickson stated.

BitBoss having successfully worked around the chain limit instead of creating some aspects of the game off-chain has allowed them to create a robust system that is ready to be scaled and applied to other games as soon as the limit is removed. The chain limit is expected to be removed in several months.

“The removal of that limit is massive for online gaming. It basically completes Bitcoin SV as the ultimate blockchain for gambling. The solution that we’ve built is so much more powerful than other solutions because we’re doing everything on-chain, so when the limitation is gone, we have all of the power and benefits that we have spent a lot of time creating—with no limitation to the user,” Dickson said with confidence.

This means that iGaming on blockchain is definitely the future of casinos and online gambling.

 

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