vDice – The Future of Online Gambling

Online gambling is a multi-billion dollar industry
and it’s actually quite easy to understand why so many people turn to their
computers when looking for a fast, comfortable and reliable gambling
experience, after all it’s what internet does! However, regular online gambling
platforms require a certain degree of trust since there is no actual way to
know if the system is rigged or not. That’s where cryptocurrencies like Bitcoin
and Ethereum come in. These cryptocurrencies run on a public immutable ledger
called the Blockchain, which means that every transaction is recorded and made
public. This technology has created a new class of online gambling known as “provably fair” games, meaning that the
user can inspect the transactions made and the code used to process the bet in
order to check that it was indeed “fair game”

With Ethereum,
a blockchain platform that allows developers to build decentralized
applications on top of it, self-executing contracts can be created to ensure
that everything runs automatically and without manipulation. vDice has leveraged the technology
provided by Ethereum to create a fully decentralized gaming application. The
game is simple: Users send Ether (the currency within the Ethereum platform) to
the game address, and the smart contract system will retrieve a number from a
well-known third party service, random.org. If the number falls below the
agreed threshold, the better wins the predetermined prize. Unlike its
predecessor, vDice requires no server or any kind of centralized structure,
meaning that it cannot be hacked or shut down.

vDice, has taken
advantage of this “smart contract” technology to build, not only a fully
autonomous gambling platform, but also to allow investors to take part in its
ownership.

vDice has recently announced its crowdfunding campaign in which
investors will have a one-time opportunity to own a piece of the vDice gambling
app. The ownership comes in the form of digital tokens issued on the Ethereum
network, called “vSlice”. These tokens can be freely sent and exchanged and
they will receive dividends from the profits made by the vDice gambling dapp
(decentralized application). The Initial Coin Offering period will start on
November 15th and it will last for a month. During this time, users will be able to exchange their Ether or newly
issued vSlice tokens. Learn more about the vDice ICO.

Online gambling is extremely popular, and the demand for fully
decentralized and transparent alternatives is obvious when considering that
more than half of everyday bitcoin transactions are the result of online
gambling. This alone does not guarantee the success of vDice, and that is where
the funding stage comes in. All the proceeds from the ICO will be used to
further market and develop the vDice Dapp in order to make it the go-to place
for Ethereum-based betting. Not only will vDice market their gambling platform,
but they will also make it faster and more reliable. You can read all about it
in the development roadmap and business plan.