Online gambling industry values 45 billion USD in 2016. With the spreading popularity of the Internet infrastructure all around the world, there is a momentary grow in Asian markets. For this industry, here exists two concerned issues: fairness and privacy. Players have no idea how to feel comfortable that the game results generated are fair, so a huge barrier exists in trust and loyalty buildings in long term. Apart from this, previous generation casinos require the player to register as a member using their information relevant to their real personal details, so as to make ease of cash withdrawal, which lacks of privacy protection, and also hesitates new comers to participate in the games.
With cutting-edge blockchain technology, we are going to make breakthroughs in online gambling industry. By adapting the applications of Ethereum and it's Smart Contract, ETH888 will be absolutely transparent also with high privacy assurance to all players.
In operating a casino, there is a metric called “house edge”, so to act as a profile generation indicator of the casino. For each game, the design itself already favours the house. For example, in playing Sic bo, mathematically the house edge is around 10%, which implies that the player is theorically expected to lose $1 for each $10 bet.
ETH888's rationale is that, in player's points of view, playing with a trustable partner is superior. Especially for Asian players, they in general do not care the existence of house edge, but do care whether they are being cheated. They merely look for opportunities to seed hopes, given a reasonable chance to win and a fair-and-easy environment to have a try. Deep in their mind, the worst issue is nowhere to buy hopes, rather than finally losing it. They do enjoy more the process and strive for feeling of one-game victory, even by trading off the bets over ten games.
Some casinos emphasize zero house edge, with a doubtful assumption, treating it as a gimmick to make the house attractive to the audiences, but anyway does it sound an attractive business to stakeholders too? In addition, they also assuming even with zero house edge, it will also be profitable by blessing elite players making mistakes or beginners will compensate the loss. Indeed, it is impractical as unlike physical casinos, there are no restrictions on how the players interact with the games, such as getting real-time AI hints from gambling master softwares / devices. Undoubtedly, every online player can easily be a game master. Or does anyone have interest to spend time and resources in operating a casino with negative profit?
Powered by Ethereum
ETH888 is tightly coupled with Ethereum's blockchain, so core operation logics are transparent to all players, with pre-scheduled logic execution absolutely guaranteed. They can scan and verify everything through the public chain, which is a major advantage of employing Smart Contract technology.
One may question that, if the public can get access to all transaction records, there will be threats in privacy issues. No worry, all identities presented in the chain are merely a very long text hash (called an address), totally decoupled from the Internet IP address, to assure total anonymous, which is an inborn nature of blockchain systems.
ETH888 is definitely an easy gambling platform for newcomers or expert players to get started, by getting rid of the tedious registration procedure. To cash out, unlike ordinary online casino, it takes days. We only take minutes because a well-known cryptocurrency ETH is fully supported.
Despite the fact that ETH888 is neither a physical casino nor playing with cash, we still respect legal issues and will deal with it after the successful completion of our ICOs.
In execution, we will raise Ether through Initial Coin Offering (ICO) and our investors can get Vanil token with their Ether, which is in Ethereum's ERC20 format, with a maximum circulation volume, 15,500,000 Vanil tokens.
At the end of each month, 40% of casion profit in Ether will be poured into a pool and all stakeholders can share the profit upon the proportion of Vanil tokens holding. With platform's monthly turnover scaling up, the values of Vanil tokens will gain organic mushrooming due to its limited supply.
In order to assure the benefits of our investors, unlike usual ICO, we split our fundraising into 3 stages. Upon milestones committed in previous stage, the next ICO starts. In the first ICO, maximum 10,000,000 tokens will be for crowdsale, at the rate 1,250 Vanils / ETH, with project launching threshold 1,250,000 Vanils raised.
It is really awesome that Ethereum supports easy-deployment of smart contract by individual developers! The language / script is using called Solidity. However, unlike coding in ordinary environment, it is running in blockchain network, so we don't have a function simply to seed and generate numbers, as all outputs from blockchain network are deterministic.更多
Online gambling gives a general impression that the results lack of fairness and transparency. In operating an online casino, effective trust building with the players is a key to success.更多