EOSBet is the first gambling platform built on the EOS blockchain which acquired an online playing license in 2018, and in today’s altcoin news we can see that the platform has built a decentralized account gadget that also makes possible for bitcoin betting and deposits.
The EOS dApps back earlier this year made approximately 55% of the transaction values and out of the $5.5 billion transacted on the EOS dApps , nearly 70 percent have been spent on the betting dApps.
After acquiring cryptocurrency, this next move will help the EOSBet platform to eliminate all obstacles that show up when using cryptocurrency wallets. In January 2019, the casino company initially launched a proprietary account system which makes it easy for users to deposit funds from any source and can later bet without using a third-party wallet or any kind of software. The new account system is non-custodial which basically means that no one can have access to the players’ funds. Also, the new system makes it possible for users to create a unique username and have the ability to chat with other players.
The newly added gadget allows customers to deposit budget from any place and also makes it possible to cover all blockchain prices for avid gamers by letting them play simply on a decentralized online casino as they would on a conventional one.
EOSBet wants to leverage EOS in order to implement decentralization and to provide attractive rewards for the players. It also allows users to use bitcoin when placing bets and in the near future it plans to add Bitcoin Cash, Bitcoin SV, Litecoin, Dash, Doge, TRON, Etheruem, and XRP.
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“By using Coinify, we are not running into the knife. It is still not clear to me how blockchain is any better than other database technologies. The transactions are so far more expensive and slower than a normal payment method. Decentralization brings only cumbersome improvements. None of the blockchains scale enough. But maybe I have not invested enough time and therefore understand too little how the blockchain ecosystem works.”Herren said that the decision comes after the prolonged bearish correction on the market where most of the crypto assets lost nearly a third of their value. Despite the fact that investors didn’t really get scared of the decline in prices, institutional adoption is still uncertain regarding making more profits. For example, back in 2018 in June, the Expedia hotel booking platform deleted Bitcoin out of their options and in the same year couple of months back, Reddit also stopped accepting cryptocurrency for its gold membership plans. Years back, Bitcoin became popular because of its attractiveness as a cheaper alternative for expensive payment processors. But as the technology got more popular, the network was unable to handle a higher number of transactions such as Visa or MasterCard and that’s why retailers didn’t choose crypto for making transactions. The Swiss retail giant brings bitcoin back into the retail game. However, traders who are into crypto or those who just hold on to it for better days can now use their coins to purchase something from the retail platform.
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