Blockchain vDice.io, The World’s First Full Decentralized Gambling Platform Published 2 years ago on November 2, 2016 By Lester Coleman The Money Makers Club now has 6 of 15 available seats. Learn more here! vDice.io, having launched in June as the first fully-decentralized betting game for the first programmable P2P network, will host a crowdsale from November 15 to December 15. In exchange for Ether (ETH), investors will receive “vSlice” tokens, each of which is directly tied to the profits of the game. The “vSlice” token will regularly distribute profits of the vDice game to token holders. Since going live on June 13, vDice has become the top ranked Google site for Ethereum gambling, having processed nearly 10,000 bets. Built On Smart Contracts Built on fully decentralized smart contracts, vDice processes bets through an Oracle without server architecture. As such, it makes gaming easier and more trustworthy. As a platform, vDice plans to invite anyone to write their own Ethereum smart contract (Dapp) and put it on the Ethereum network. In this way, vDice will eventually serve as a platform for developers to showcase their gambling Dapps. Customers will initially be online gamblers who use digital tokens like ETH. As the Ethereum ecosystem matures, the active trading of “pegged” tokens will increase. These are blockchain tokens pegged to fiat currencies, allowing users to effectively gamble with fiat currencies using blockchain tokens. “A single person could play from multiple Ethereum addresses,” vDice co-founder Jason Colby told CCN. “You can always know exactly and precisely how many addresses are playing, but in terms of players, that number is not perfectly knowable.” Based On SatoshiDICE vDice is based on SatoshiDICE, the most successful blockchain-based gambling game to date. SatoshiDICE accounted for over 75% of all transactions on the bitcoin network in 2012-2013. Most betting games, even for cryptocurrencies, are centralized. Bettors send money to the owners of the game and trust them to hold it and then pay out at the appropriate time. Ethereum gambling on blockchain, by contrast, has no accounts, no server and no trust. The Ethereum blockchain processes bets and pays out wins automatically to players’ Ethereum addresses. No one controls the game. The code is public and players control their funds in their wallets at all times. Players do not need an account to bet. They play directly from their Ether wallet. Each game has an address, its winning odds, a price multiplier, a lucky number, and a minimum and maximum bet. To make a bet, a player sends a transaction straight to the address on the Ethereum blockchain. The bets are provably fair, and winnings get sent straight to their wallets. How It Came About “Developers and I were talking about the best smart contracts,” Colby said. “It was clear that gambling was going to be very successful. So we decided to make the best, most secure, blockchain gambling platform. We did Classic SatoshiDICE as an Ethereum smart contract.” “Up to 2013 it (SatoshiDICE) was responsible for almost all bitcoin transactions. So we made it for Ethereum,” he said. “Using Ethereum we made it fully decentralized, on-blockchain gambling, using smart contracts.” “Also, we wanted to show how fast and efficient you can do on-blockchain transactions with Ethereum,” Colby continued. “Blockchain gambling is the best way to do that.” “Ultimately, we will continue to increase the efficiency of on-blockchain transactions,” he said. “That means making on-blockchain bet processing as fast and cheap as possible, using an Oracle (fully decentralized). We’re already 18 months ahead of the competition for that. ” Also read: Why cryptocurrency and online casinos are a match made in heaven A ‘WordPress For Gambling’ “Ultimately, we will turn vDice into the WordPress of gambling,” Colby noted. “There are going to be lots of developers making gambling Dapps. The incentives are too great. They won’t have time to grow their own brand. vDice will provide that.” “Someone creates their own game. If it’s good, they will benefit. vDice will be like the WordPress of gambling in this way: a platform for developers to showcase their quality gambling Dapps.” “vDice imagines a world of geeks, in their bedrooms, creating gambling games instead of Youtube shows,” Colby said. “It costs them nothing to put it on the P2P network. Then people all over the world will play.” For information, visit https://crowdsale.vdice.io This is a sponsored story. Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink. Rate this post: Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way. (0 votes, average: 0.00 out of 5)You need to be a registered member to rate this. Loading... Lester Coleman 3.9 stars on average, based on 8 rated postsLester Coleman is a veteran business journalist based in the United States. He has covered the payments industry for several years and is available for writing assignments. Follow @HackedCom Feedback or Requests? Related Topics: Up Next Zcash: A Cryptocurrency More Secure and Anonymous Than Bitcoin? Don't Miss The Future of Digital Rights Management Might Be Decent with Blockchain You may like Click to comment You must be logged in to post a comment Login Leave a Reply Cancel replyYou must be logged in to post a comment. Altcoins As Encrypgen Nears The Finish Line, A Competitor Drops Out Published 2 weeks ago on September 7, 2018 By Chris Matthews The Money Makers Club now has 6 of 15 available seats. Learn more here! Several weeks ago, I wrote an introductory article on Encrypgen. Due to several requests and a major development, I feel a second article is warranted. I will provide a quick summary but new readers should definitely check out the first article. Background Encrypgen (DNA) is the undisputed leader in the genomic blockchain security space. Last month, Encrypgen released a beta version of its Gene-Chain. Consumers will be able to safely upload and store their genomic data on the Gene-Chain. In addition, consumers will be able to earn passive income by selling their data to researchers. Investors and researchers were eagerly waiting for that release which caused a temporary explosion in the DNA token price. Encrypgen continues to progress and expects to release the working version of the Gene-Chain within the next few months. Revenue Generation A few questions were sent to me about how Encrypgen will make money. That is certainly the end game for all businesses and crypto is no different. Let’s first remember that the DNA token is a utility token. Platform usage will determine the value of each token. In order to purchase data from consumers, researchers will need to first buy DNA tokens. Although researchers can certainly buy tokens direct from the exchanges, there will be an easier way. Researchers will have the option of buying DNA tokens direct on the platform (i.e FIAT to DNA). Encrypgen will set the rate of each token above market. The tokens will come from a pre-determined supply (roughly 3 million) that the company currently holds. Since researchers will need to pay an above market rate, Encrypgen can then use the funds to purchase additional tokens on the market to replenish its supply. In theory, that will drive up the price of the DNA token while simultaneously providing Encrypgen with substantial profits. The profits can then be used for additional marketing, development, and other essential corporate activities. Competitor Drops Out The genomic space is getting a lot of attention lately. And with lots of attention and relatively few barriers to entry, competition is natural. Until recently, Nebula Genomics was seen as the primary competitor to Encrypgen in the genomic blockchain space. Nebula put together a great team and generated a lot of buzz. In August, the company received a $4.3 million seed round from several VC firms. Throughout the process, Nebula was claiming to be a blockchain company. In Telegram (a popular method for companies to communicate with investors), Nebula was telling people that the future plan was to do an ICO. However, that has all changed and it appears Nebula has said “goodbye” to crypto. Telegram Chat I took a screenshot of the Nebula chat on Telegram. In that chat, Nebula appears to be confirming that there will be no public ICO. However, they strangely leave open the option to sell 50k blocks to investors. I’m not quite sure I understand that. But what is clear is that Nebula is not a blockchain company. They never were and they never will be. Conclusion I’ve been confident in Encrypgen’s success for a long-time. One of the concerns I had was regarding the competition that was entering the genomic blockchain space. Because of the strength of the team and the marketing, Nebula appeared to be the main threat to Encrypgen. Now that Nebula has raised the white flag and is dropping out of the crypto market, Encrypgen appears to be full steam ahead! Featured image courtesy of Shutterstock. Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink. Rate this post: Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way. (0 votes, average: 0.00 out of 5)You need to be a registered member to rate this. Loading... Chris Matthews Follow @HackedCom Feedback or Requests? Continue Reading Analysis Has Ethereum Lost Its Cache? Published 1 month ago on August 8, 2018 By James Waggoner The Money Makers Club now has 6 of 15 available seats. Learn more here! For all of us believers that asset prices are set by fundamentals rather than fantasy, these are perplexing times. Crypto prices are not only way off their January highs, they are at the lowest level this year. Progress in addressing issues like scaling and security may be slow, but they are taking place. The cooperation between crypto and government regulators is improving in big chunks. Yet, while all this is going on crypto technicals look terrible. Everyday technical analysts use words like downtrend and overhead resistance. When prices have rallied, the joy is short lived, lasting only for a day or two. Even on good days, the moves are weak on low volume. This is never a good sign. Long gone are the kind of investor fears about missing out (FOMO) that we saw last year. There are fundamental reasons for skepticism for long term believers, as the data has not been going in the right direction. True, projects are progressing a slow pace. This maybe good for avoiding problems with security etc., but for investors who want immediate gratification, right now crypto isn’t ringing any bells. But truth is, crypto markets appear to be unresponsive even to seemingly good news. Take for example this recent Cryptovest headline: Cardano (ADA) Releases New Version, Price Remains Stagnant. Today, crypto exchange Coinbase announced it was increasing daily trading limits sevenfold, changing settlement times from days to instantaneous and finishing its beta before accepting Ethereum Classic. At the time of this writing, Bitcoin had fallen over 8% in the previous 24 hours while ETH was off almost 10.5%. This marks on of the worst days for crypto in quite a long time. Drilling down a bit into ETH reveals some core softness. Since virtually the entire crypto pricing stinks there is more than a single cause to Ethereum’s weakness, but here is a start. Using DappRadar To Measure Ether Demand According to Business Insider, there were over 930 ICOs last year that raised anywhere from $3-$5.7 billion depending on which resource you listen to. In the first quarter of 2018, there were roundly another 200 raising over $6 billion. These numbers make for great headlines but there is one problem. They have not translated into higher prices for Ether, or any other crypto either. The Ethereum platform can claim that somewhere between 70%-80% of ICOs that have Dapps built on the ETH platform. If logic were applied, this should result in greater demand for Ether. But as the truism goes, if everything were logical, men would ride sidesaddle! One of the clues to unlock this contradiction may rest in the use cases for the most active Dapps. What I an getting at is this: when the top five Dapps function as exchanges to buy and sell Ether or any other ERC-20 token, that is not a sign of mass adoption. Nor is it good when almost 75% of the activity in the top five is accounted by three Dapps and those are exchanges. And finally when volume on nine out of the top ten are trending down, it is not what investors want so see. To keep some balance to these observations, there are some positive use cases. Three of the ten most active Dapps are for gamers, and that is a use case worth it weight in any currency. Also, usage levels tend to be quite volatile from hour to hour so we may have checked on an atypical moment. But what we want to see are use cases like marketplaces or even gambling where user demand trumps speculators and where activity is growing. What Is Happening With Augur And speaking of gambling, Ethereum big gun Augur, which allows users to create prediction markets for just about anything by buying shares and staking ETH in the outcome of an event. When launched in early July nearly 1,200 were traded in a 24 hour period. At the time Augur appeared to be one of Ethereum’s most promising Dapps. To be clear, 1,200 is just a benchmark and not proof of success or failure. However, when Augur, one of your most promising Dapps, is being used less than 100 a day with a huge valuation of over $300 million, that is a disappointing moment. What Ethereum Needs So what is missing here? From the insights offered by DappRadar, the answer is that ETH, and for that matter crypto in general, is hungry for valid signs of a breakthrough in mass adoption. In other words, developments in the payments side of crypto could well provide the needed solution. There is no shortage of projects like Bitcoin Superstore and TenX. And there is always the possibility that the critics of Augur are premature in claiming this potentially game changing Dapp is a disappointment. But so far all of the flashy new whitepapers and highly valued ICOs aren’t connecting with investors. It is time for proof that actual crypto users are getting into game. And obviously, what is good for ETH is also needed by other players as well. Featured image courtesy of Shutterstock. Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink. Rate this post: Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way. (6 votes, average: 4.00 out of 5)You need to be a registered member to rate this. Loading... James Waggoner 4.4 stars on average, based on 104 rated postsJames Waggoner is a veteran Wall Street analyst and hedge fund manager who has spent the past few years researching the fintech possibilities of cryptocurrencies. He has a special passion for writing about the future of crypto. Follow @HackedCom Feedback or Requests? Continue Reading Altcoins MB Technology and GoChain Partner to Accelerate Innovation on the Blockchain Published 1 month ago on August 8, 2018 By Kent Hamilton The Money Makers Club now has 6 of 15 available seats. Learn more here! MB Technology has recently announced that it is committed to bringing $500 million USD worth of ICOs to the GoChain platform. MB Technology is an expert ICO advisory firm that has advised blockchain projects with a combined valuation of over $2 billion in several industries. Some of the companies that they advised include Fantom, Origo, GoChain, QuarkChain, CoinSuper, Icon and other top ICOs. The company is committing $500 million to GoChain because it has already launched it’s mainnet functioning at 100 times the speed of Ethereum while being 1,000 times more energy efficient. GoChain is fully compatible with existing Ethereum wallets, smart contracts, dApps, etc. Two companies have already chosen GoChain to launch their ICOs: Solaster Health and Etherprise with a combined value of $63 million. GoChain has hit the ground running. While many blockchains are still trying to finish up their technical whitepaper or have yet to launch their mainnet, GoChain is way ahead of the curvey. Although blockchains are competing to deliver the fastest Transactions-Per-Second (TPS), they nothing without the dApps that build on them. While speed is important, most blockchains releasing now are more than capable of handling sufficient TPS for production dApps. The dApp ecosystem built on top of a blockchain is just as important, if not more, than the speed of the blockchain itself. ICOs struggle to build on new blockchains as there are not many well-defined standards. GoChain’s codebase is 100% compatible with Ethereum so any dApp that can or has been built on top of it will easily port to GoChain. This makes it easy for existing Ethereum apps to move over to GoChain and immediately work 100 times faster. A few blockchains build amazingly fast transacting software yet have no use cases or a dApp ecosystem building strategy. With MB Technology bringing half a billion dollars to GoChain, the coin is extremely undervalued. Compared to other projects on CoinMarketCap, GoChain should be at least in the $100 million market cap range. Competing blockchains talk about overtaking Ethereum, yet GoChain has a working mainnet with dApps being added at a blinding rate. GoChain is one of the most underestimated and undervalued blockchains at this time. Look for GoChain to grow to five to ten times in the next few months from its current market cap of $19.4 million. GoChain is currently only on Kucoin. Look for it to list on other exchanges as it gains daily trading volume. MB Technology offers advisory services to bring specific solutions designed to boost a project’s outcomes. They also create global investor awareness through their network of partners, influencers, and media outlets. Disclaimer: Writer does not own GoChain. Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink. Rate this post: Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way. (1 votes, average: 5.00 out of 5)You need to be a registered member to rate this. Loading... Kent Hamilton 4.6 stars on average, based on 50 rated postsKent Hamilton - Co-Founder of SpryOne - Loyalty Platform on the Blockchain. Follow @HackedCom Feedback or Requests? Continue Reading Recent CommentsDaniel Won on Did PCHAIN’s Times Square Marketing Ploy Fall on Deaf Ears?shajimanghat on Three Warnings of Warnings for the Buzzwordy Allure of “Decentralization”tkietvo on RChain Soars 95% As Testnet Hype Ramps UpGreg Thomson on RChain Soars 95% As Testnet Hype Ramps Uptkietvo on RChain Soars 95% As Testnet Hype Ramps Up XRP Is Surging as Financial Institutions Join Ripp... XRP Leads Crypto Market Recovery amid Commercializ... Market Update: U.S. Stocks Fall as Trump Set to Un... Kovri & Bulletproofs: How Monero is Improving... Stellar Acquires Blockchain Startup Chain to Form... Good Crypto News: What It All Means Crypto Update: Monday Selloff Drags Majors Lower Enroll Now! 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