Home Ico Review Edgeless Ico Review: First Ethereum 'smart-contract' powered casino.

Edgeless Ico Review: First Ethereum ‘smart-contract’ powered casino.

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About Edgeless

Edgeless casino will offer a 0% edge Blackjack as well as other games like Dice and Sports Betting. All games will be based on the Ethereum smart contract and will ensure transparency. Using Ethereum smart contracts, they can have a low price per gamble and solve the transparency problem. Random numbers and payouts can be ruled by smart contracts which are fully public and implemented on an Ethereum blockchain. Now players can see everything: transactions, sums, bets, the reasons why transactions are moving and, most importantly, the mechanism of randomness. If the casino tried to rig the odds, it would be immediately spotted.

Basic Information

Token Name EDG
Token Sale 440,000,000 EDG
Social Media Edgeless Ico Review: First Ethereum 'smart-contract' powered casino.Edgeless Ico Review: First Ethereum 'smart-contract' powered casino.Edgeless Ico Review: First Ethereum 'smart-contract' powered casino.
Token Price 0.04 USD
Platform Ethereum
Token Raised 2,700,000 USD
Restricted countries No restrictions
Accepting ETH
Whitepaper Click Here For View Whitepaper
Website Click Here For Visit ICO Homepage

Price and Transparency Problems of Online Gambling

As stated before, in 2016 the online gambling industry was valued at USD 48.6 billion and has shown steady growth each year. Most of a casino’s profits come from the “house edge”. The House Edge is a term used to describe the mathematical advantage that the gambling game has over you as you play. This advantage results in an assured percentage returned to the house over the duration of playing time, and for you, it is an assured percentage loss of what you bet.

Online Casinos – Price and Transparency

The online gambling industry was valued at USD $45 billion in 2016. However, it has two major problems: the price of the gamble and transparency. The price of the gamble comes from unfriendly user rules: a large house edge of 1% – 15%, Money deposit/withdrawal fees. and 2 – 3 days withdrawal delays. Besides that, there is no way of knowing what is happening inside the casino servers and how the mechanisms are programmed. It can be easily manipulated. Players need to rely on trust in the casino which is not the best option in such a profit-driven industry.

Rise of the Cryptocurrency

In 2008, Bitcoin solved the gambling price problem. It offers instant money transactions without any fees, anonymity, a 0.01% – 2% house edge and more. Cryptocurrency gambling is on the rise with 890 million BTC wagered in 2016, a market value that has grown by 37% from 2015.  Cryptocurrency gambling has become a choice for many. However, it still has not solved one major problem: transparency. Most casinos provide a method called a ‘Fairness Check’ to prove their transparency. However, at this point, Fairness Check does not work and casinos still have the full power to cheat against their own players.

Edgeless Ethereum Casino

Using the power of the Ethereum smart contract, they are introducing the Ethereum-based Online Casino which offers ZERO edge for its players and 100% transparency.

ABSOLUTE TRANSPARENCY

The random number generator is based on an Ethereum Smart Contract which is completely public. This means that everyone can see everything that is occurring inside the servers of the casino.

0% HOUSE EDGE

Their casino will offer games that are solely based on skill and luck. If played perfectly, people will have a 0% edge gambling experience. However if players make mistakes; the casino will profit in the long run.

LEGALLY COMPLIANT

They have a casino license which includes: strict terms and conditions, responsible gambling information, account registration as well as other needed requirements to fit into a legal framework. In this way, they support legal and responsible gambling.

INSTANT MONEY DEPOSITS AND WITHDRAWALS

Instant and cost-effective cryptocurrency transfers will provide instant money deposits and withdraws for the customer, while regular casinos hold your money for 1 – 3 days before remitting it to you.

Random Number Generator

Explanation of Fairness Check

Online casinos create a random number using a combination of casino and client numbers. The casino assigns their own number automatically and the visitor can do it manually or let the casino decide for them. The two numbers are blended to provide a random outcome. The idea behind it is that the casino can rig their own number, but they would not be able to rig the client’s number and therefore the outcome will be random. Therefore a casino would not be able to cheat.

Bitcoin Casino Can Also Drain Investors Profits

A lot of cryptocurrency casinos offer investment opportunities for people. They can invest into the casino bankroll and get a share of a casino’s profits. All cryptocurrency transactions are public on the blockchain so it is easy to see the exact profits every day. That’s why this investment looks really attractive. However, there is a way that casinos can drain profits from their wallet and pay less to investors.

Solution

After bet is made, client will be able to see their unhashed seed on Ethereum Blockchain and verify the randomness. Moreover, clients will have two options for getting random seeds. The first one is to type it in
manually before every game; this would eliminate any ability to cheat the clients. The second one, which will be used by default, is to generate different client seeds automatically for every game by using an API integration with random.org. Smart contracts will be publicly available on the blockchain for everyone to examine and to test its randomness procedure.

Team
Member
Tomas Lukosaitis – CO
Tomas Draksas – CO
Julia Altenried – SMART CONTRACT AND DAPP DEVELOPERS
Stefan Höller – SMART CONTRACT AND DAPP DEVELOPERS

Also Read – Click Here for Read All ICO Review

Quote This article is writing on 26 July 2018 based on information available online & news portal. If you feel it’s outdated or incorrect, please write here to update it. Mail us: support@coinworldstory.com Or Whatsapp Us- +13098896258

Disclaimer:

Not all the websites Which listed in Top List are 100% safe to use or investment. We do not promote any of those. Due diligence is your own responsibility. You should never make an investment in an online program with money you aren’t prepared to lose. Make sure to research the website. So Please take care of your investments. and be on the safe site and avoid much losing online.

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