When it comes to gambling, Ethereum is actually the 2nd largest crypto currency that is made available to gamblers. The operation of Ether, the currency of Ethereum is similar to that of Bitcoin, but it is based on a different protocol altogether. The crypto currency Ethereum was introduced in the year June 2015. As a user, with its help you can make and receive payments using internet without the interference of any kind of central authorities, taxes or regulations. Since, its economy is based on a decentralized programmable platform that uses smart contacts it stands out from the rest of the crypto currencies. The smart contracts of Ethereum have the capacity to accommodate end number of uses.
Benefits of blockchain gambling
Blockchain gambling comes with a number of advantages and Ethereum gambling being a type of blockchain gambling, it applies to it too. Below mentioned are few of the benefits like:
- You don’t need to deal with any accounts
- You need not transfer your funds to any 3rd party, but can directly pay from your personal Ethereum wallet
- While on being Ethereum blockchain, you can directly transfer the fund to a smart contract
- The smart contract processes your bet and the winning amount is returned to your wallet
- Here, no anonymous website owner guards your internal database
- You have direct control on your funds and need not trust any outsider
Why is it so popular?
The wide range of applications of Ether makes it highly accepted worldwide. It is a safe and secured way of making any financial transactions. Its transaction time being short, makes it ideal during emergencies. Another reason behind its widespread acceptance is the privacy feature of this digital currency. When you carry out any transaction with Ether you are not required to reveal any personal data of yours. This crypto coin can be engaged in any kind of financial transaction be it in casino or anywhere else no one will question you. With this paperless method, you can avoid all the documentation related hassles. So, if you are sceptical about sharing your personal data with any outsider then this is considered to be the best way you can adopt.
Future of Ethereum
Ethereum being at its infancy stage, it is highly beneficial to use. Chances are there it would be developed in the future. NXT has undertaken the responsibility to come up with a lot more changes and improvements of this digital coin. You can use these Ether coins easily when the number of transactions is huge. Compared to other crypto coins, Ether has a lot more potential and the developers are putting in a great amount of effort to make this virtual coin a leader in the digital currency industry. Hence, considering all the facts Ether is forecasted to have a very bright future in the crypto currency industry. If you are still not convinced about its potential then you should try out Ethereum gambling. If you are comfortable using it, then you can try in the other fields too.