Blockchain Gambling That Works: BNBPot Launches Gaming on BNB Oct 18
Over the last decade, blockchain technology has been taking over the world. Considering how the blockchain offers various incentives in various sectors, most industries are trying to use this newfound technology to their advantage.
For starters, BNBPot has been gaining a ton of coverage based on how it’s catering to decentralized gambling. The platform is the world’s first truly decentralized casino and has much to offer!
However, before going over what BNBPot is and the services it caters to on the blockchain, we’ll first go over what the blockchain is. We’ll also be discussing why decentralized gambling is growing at the rate that it currently is.
What is the Blockchain?
The blockchain is a public ledger that records all transactions ever made on it. It is also a decentralized database, which means it is not governed by any single entity.
The blockchain is a distributed database that stores data in blocks. The blocks are linked to each other in chronological order and they cannot be changed or manipulated without changing the entire chain. The data stored in these blocks can be anything like transactions, contracts, and even votes.
The blockchain allows digital information to be distributed but not copied or forged. It’s the reason why cryptocurrency was invented in the first place and has become so popular since then.
Decentralized Gambling Versus Centralized Gambling: Which is Better?
Decentralized gambling is an emerging trend in the online gambling world. It has a number of benefits over centralized gambling and has the potential to become the most dominant form of gambling in the future.
Decentralized gambling is a process that takes place entirely on a blockchain network. This means that every participant in the betting process is anonymous and cannot be traced by anyone else on the network.
In centralized gambling, players are required to KYC, ie. register with their personal information, such as name and address, which can be used against them if they wish to withdraw money from their account. With decentralized gambling, players can withdraw money without fear of being tracked or hacked because there is no prominent location for hackers to target.
Decentralized betting also offers other advantages over centralized betting, which include faster payouts and lower fees for players due to lower overhead costs for hosting bets on a blockchain network as opposed to running an entire site with servers and staff members. Another major benefit of decentralized gambling is that it cannot be shut down by a single entity. Such as in the case for BNBPot.
What Makes Decentralized Casinos All the More Crucial in Today’s Time?
The most significant aspect of decentralized casinos is that they are not under the jurisdiction of any single country. This means that they are outside the reach of any single regulatory body.
Decentralized casinos offer players a safe and secure gaming environment with no risk of fraud or data breaches. They also offer players anonymity and privacy, which is something that traditional online casinos cannot provide.
The rise of blockchain technology has made it possible to create decentralized casinos. This is a new and innovative way of gambling that is completely different from the traditional model.
Decentralized casinos are not controlled by a single entity, which means that they are free from any form of manipulation or interference. The players can bet with cryptocurrencies, which eliminates the need for a centralized bank or institution to facilitate transactions.
BNBPot: The World’s First Ever Truly Decentralized Casino
BNBPot is a web3 application that visualizes the events of smart contracts. It is a decentralized casino that runs on blockchain. BNBPot is designed to be an open-source and transparent platform where players can see the games and their odds without any third-party interference.
There are many use cases for BNBPot, such as:
- Providing transparency to the player about their odds in games with random outcomes
- Providing transparency to the player about game payouts
- Supporting players with disabilities who may not be able to play some games
- Really good tokanomics
BNBPot can also be termed as a decentralized casino DApp that allows players to make bets on the blockchain. The BNBPot smart contract ensures transparency in the game and guarantees fairness.
Through BNBPot, there is no need for an intermediary to oversee the transactions between clients and operators. This eliminates the risk of interference from malicious third parties and provides more security for users’ funds.
What Makes BNBPot So Special for Casino Goers?
BNBPot is a casino gaming platform that has been designed to offer users the most immersive, realistic, and fun experience. The team’s goal is to create an environment where players can enjoy their favorite games in the best way possible.
The BNBPot team has decades of development experience and cryptocurrency knowledge they employed assembling a platform to make all these goals come true. They have partnered with leading game developers and have created a system that is easy to use, packed with features, and offers players the opportunity to win big time.
BNBPot has several features that make it stand out from the rest. The first feature is their Binance Smart Chain-based platform which enables users to deposit and withdraw funds directly to Metamask, Trust Wallet or other third party web3 wallets easily and instantly. The second is their innovative, interactive and groundbreaking betting interface. The third is their wide variety of casino games with different betting limits, including live casino tables and slots, and sports betting. Another one of their features is the ease of depositing funds into BNBPot with a number of payment methods, including BNBP, BNB, Ether, Hex, PulseX, Pulse, and many more! If you use their native token BNBP you effectively get 10% Bonus buying power at the casino. You can stake the token BNBP to be eligible for a lottery drop or use it to gamble for more money than you buy in with. One would even say buying the token is an advantageous play since the tokenomics point to BNBP going up in value over time. You can swap the token on the page there or stake it like the rest of the currently staked 67% of total circulating supply.
The Future of BNBPot: How Far Will Decentralized Casinos Go?
Casinos were originally designed to provide a space for people to gamble, enjoy themselves, and escape reality. Unfortunately, traditional casinos also have a dark side. For this reason, the use of decentralized casinos will allow gamblers to gamble without the need for a centralized governing body or third party that oversees the transactions and wagers.
The use of blockchain technology will ensure that all transactions are completely transparent and secure. Casinos have been a popular form of entertainment for a long time. However, as the world has evolved, so have the ways in which people enjoy themselves. With the advent of blockchain technology and cryptocurrency, it is now possible to gamble without ever having to leave one’s home.
Blockchain technology is decentralized and can be accessed from anywhere in the world, which means that there are no limitations on who can gamble or how much they can gamble. The lack of centralized power means that gamblers are not at risk of being cheated by casino employees or management.
In addition, blockchain transactions are anonymous and instantaneous — meaning that gamblers do not need to wait for their winnings to be processed before cashing out and enjoying them. With this being said, it’s imperative to note that decentralized casinos are here to stay! Nonetheless, only time will unveil their true potential.
Why are Cryptocurrency Casinos on the Rise?
The rise of cryptocurrencies has led to an increase in the number of cryptocurrency casinos. The cryptocurrency gambling industry is a niche market that is growing rapidly. The primary reason for their growth is that crypto casinos are also more difficult to hack, and they do not require any personal information to use.
Cryptocurrency casinos are a new way to gamble and make money. They offer a wide range of games that can be played with cryptocurrencies, which is something that was not possible before. In the past, gambling was limited to land-based casinos and online casinos. Now, cryptocurrency casinos have opened up an entirely new world of possibilities for gamblers.
The cryptocurrency casino industry is still in its infancy, but it’s expected to grow at an exponential rate in the upcoming years as more people learn about it and start using it for their gaming needs.
Decentralized online casinos are a relatively new concept. The first decentralized casino was launched in 2017. It was called FunFair, and it is still operational today.
The World’s First Decentralized Casino: Launching on BNBPot and the BNB Chain on Oct 18, 2022
BNBPot is a decentralized casino where players can play games on their mobile devices or computers. It will be the first of its kind, and it will change how people gamble.
It is a blockchain-based casino that offers a wide range of games to play, such as slots, roulette, jackpot, sports betting and hopefully other games soon like blackjack, and poker though these are not in the whitepaper yet. BNBPot is powered by blockchain technology that guarantees fairness and anonymity for all players. That being said, the decentralized casino will soon be up for operations on BNBPot and the BNB Chain from Oct 18, 2022.
In this way, more and more people can be a part of this form of entertainment, that too from the comfort of their own homes. You can even own an NFT that is the game itself, effectively acting as the house. Look into this if you can afford it and believe it is for you. Nothing here is financial advice, simply for entertainment purposes. I am not a financial advisor nor do I want to be one. Do your own research please.
Takeaway
BNBPot is an online casino that has will launch today Oct 18 2022. It will offer many groundbreaking games like jackpot, roulette, slots and more to come. The casino also offers an added bonus of 10% on all BNBP deposit. The BNBPot team has decades of development experience and cryptocurrency knowledge they employed assembling a platform to make all these goals come true.
With that said, the growth of decentralized casinos is inevitable. However, the times ahead will reveal just how far these casinos will go. We’ve seen blockchain technology reach newer heights in these past few years, owing to which BNBPot truly has made a lot of ground breaking progress!
FAQ
Why decentralize a casino?
1. Guaranteed fairness in the games. All game code is transparent and on-chain.
2. Guaranteed payouts. Instant payouts directly to your wallet everytime you win.
3. No censorship. Anyone with a wallet and crypto can enter the games.
4. Lowest fees and highest RTP in the industry
5. All profits are distributed in a completely decentralized and automated manner to BNBP holders
What is the Player vs. Player concept?
All games on BNBPot is developed to be player vs player. Matched players against each other in a secure and decentralized way. This means that BNBPot simply provides a series of decentralized contracts that players can choose to interact with. You can never win value from BNBPot
How is this project Profit Sharing?
All games on BNBPot is associated with a fee from 1.5% to 3%. This fee is deducted from the winner.
These fees are automatically distributed to holders of BNBP token.
Jackpot Games Rules
- The minimum value to enter a pot is 1 USD.
2. A player’s winning chance is proportional to their entered value.
3. A pot goes live when 2 unique addresses enter with value greater than 1 USD.
4. Each pot has a countdown timer of 5 minutes after going live, then the winner will be calculated.
5. An unlimited number of players can enter within the 5 minute window.
6. An unlimited amount of value can be entered into the pot.
7. Each player can make an unlimited number of entries into the same pot.
8. Only whitelisted tokens are accepted into the pot.
9. All token prices are updated every 5 minutes.
10. The Pot fee is 1.5% to 3% of the total value.
11. BNBP holders have a reduced fee.
12. The fee is deducted from the token entered with the largest collective value.
13. All value that is entered into the Pot will be distributed out of the contract within 5 minutes.
14. The fees will be collected and held for distribution, lottery or buy and burn.
15. Players can connect their wallet directly or execute a manual transaction with the contract to enter.
16. To ensure total randomness the winner is calculated with a value based on several unique and unpredictable factors including the hash of the next block.
17. The contract will deny any transaction using a token that is not whitelisted.
