Saturday, September 24, 2022
Published 4 Weeks Ago on Monday, Aug 29 2022 By Adnan Kayyali
Crypto gambling was always an inevitability. Gambling has existed for as long as recorded history. From ancient playing cards to dice games, to betting on animal fights and even gladiatorial arena matches in ancient Greece and Rome, this ancient vice as persisted throughout our history.
It is no wonder we see it emerge in modern form along with the advent of today’s financial transaction methods technology, blockchain.
Online gambling has grown significantly since the internet’s inception, and this trend is predicted to continue as mobile access expands globally. With the launch of multiple new gambling-focused decentralized applications (dApps), blockchain technology has only accelerated this momentum.
The bulk of dApps are present on the Ethereum blockchain, despite the fact that the current dApp ecosystem spans a number of alternative blockchain networks. Because of its powerful development tools, sizable community, and comprehensive documentation, developers continue to embrace Ethereum. Due to all of these aspects, dApp development and deployment have historically been more effective and less expensive than on other blockchain networks.
However, a recent decline in the number of active gaming wallets on Ethereum raises concerns about the network’s continuous congestion for this user base. Congestion reduces user experience by raising network transaction costs, sometimes referred to as “gas” on the Ethereum network. Many gamblers are switching to dApps made on less crowded alternative networks like TRON and EOSIO as a result of this problem.
Most gambling dApp users and value transfers are made by TRON and EOSIO together. With the launch of Earnbet and RocketGame, respectively, new networks like WAX and Binance Smart Chain (BSC) have also gained significant popularity.
Through dApps, blockchain technology is allowing the next wave of gaming. The gaming sector now benefits from improved openness, security, and accessibility thanks to blockchain technology. Gaming dApps may very likely produce greater value and spur future innovation inside the gambling industry and beyond as more individuals become aware of these advantages throughout the wider market.
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