Online gambling industry values 51 billion USD in 2017. 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?
Instant Ethereum Casino
ETH888 is tightly coupled with Ethereum's blockchain and takes less than 4 seconds in average to finalize a bet. Unlike similar Ethereum casinos taking more than a minute, ETH888 offers an instant and smooth user experience to all players.
With blockchain integrated, everyone can scan and verify transactions through the public chain. 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 user-friendly Ethereum casino 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.
Our token pre-sale was started on 11 August 2017, using Ethereum smart contract, and successfully finished on 30 September 2017. Upon the pre-sale, a total of 1,356,476 VAN tokens was issued and the circulation amount is fixed at this number permanently. 10% of it will be reserved to the development team and another 10% will be for bounty programmes.
As this crowdsale is actually a resale of VAN tokens issued in our pre-sale ICO in August 2017, the actual volume of VANs available for this crowdsale is uncertain yet. The total possible number of tokens for this crowdsale mathematically is 1,085,180 VANs. Interested early investors can choose to subscribe the resale by sending their VANs to the upcoming crowdsale contract.
There will be 4 price tiers for this crowdsale upon time:
Week 1: 400 VANs / ETH
Week 2: 300 VANs / ETH
Week 3: 200 VANs / ETH
Week 4: 100 VANs / ETH
The time for the crowdsale is scheduled to start on 28th April 2018 and take 4 weeks.
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.More
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.More