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FunFair Technologies Investing in Online Gaming Industry

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The increasing popularity of the virtual currencies and the number of partnerships formed between different blockchain platforms and companies clearly show the progress and application of the ‘new-found’ technology in real life scenarios. “The gaming industry can no longer be a stranger to the blockchain technology. FunFair provides blockchain-powered solutions with the potential to profoundly change the online gaming industry for both the operator and player.” (The official website of FunFair) FunFair continues to ensure that by using the latest Ethereum technology, they aim to provide fun, fast and fair online casino gaming experience.

The Online Casino Gaming Experience

The FunFair online casino gaming platform ensures the development of high-quality blockchain based 3D games on HTML5 that are fun to play. Compared to other platforms it is 10 times cheaper due to reduced gas costs, as claimed by the white paper of FunFair. Released in 2017, the FunFair platform has an open architecture that offers many opportunities to the developers. “Games built on the FunFair platform run directly in the browser on desktop and mobile devices without requiring an app download, completely eliminating one of the major pain-points of player onboarding.”

FunFair Technologies have created a platform that has the capability of launching numerous online casinos of different sizes and can be used from anywhere in the world. The operators and developers have the option to customise the games completely as well as offer their clients a range of traditional casino games like baccarat, roulette and blackjack. FunFair has realised the issue of unending waits (a minute or longer) for a dice roll. The player has to wait for the dice roll result as it waits for multiple blocks to be mined. FunFair is one of the first platforms to address this shortcoming. The technology behind FunFair has resulted in the creation of “truly instant blockchain games”. This is, in fact, the USP of FunFair.

FunFair Launches Closed Beta

FunFair Technologies had recently announced the launch of blockchain based casino platform in closed beta on Mainnet. The objective behind this was to enable anyone who is interested in running their own casino to build one on the FunFair platform. Through this move, it has now become much easier to launch online casinos. At the same time, the platform offers a strong security system for the players and ensures that it is a fair game. Transparency is one of the major issues the casinos face worldwide. Often customers claim that they had unfairly lost as the game was rigged. So, playing casinos online on a platform which is transparent is surely advantageous. The blockchain technology will bring in a new trend in the online gaming industry and offers transparency like no other medium. With the application of blockchain technology in the online gaming industry, all the transactions will be recorded (failed and successful gambles) that can be reviewed at a later date even.

“FunFair is yet again leading the pack as the first blockchain casino platform to launch a closed beta on Mainnet and we’ve been overwhelmed by the response for applications for it. We want to ensure that the experience on our platform is at the level our partners would expect when the service goes live. At the same time we continue to work on completing partnership agreements with operators, affiliates and more game developers, having signed up Spike Gaming last month, which is testament to our innovative technology and first class team”.

Jez San, CEO of FunFair Technologies

Advantages for the operators

  • Lower cost: Depending on hardware, chargebacks and operational headcount, the operators will have to bear considerably less expenses. The infrastructure costs are, in short, reduced effectively. Due to blockchain automation, there is a decrease in security and technical staff.
  • Access crypto audience: As the cryptocurrency community enlarges there will be more opportunities for growth. By implementing blockchain technology, FunFair intends to attract the crypto crowd as well as others to an all new online gaming experience.
  • Ultra secure: The peer-to-peer ledger is not affected by a power outage, hardware failure or attack. The bets placed during a game is verified by consensus so there is no chance of rigging data. It is also impossible to alter data already stored on the blocks. Decentralisation and cryptography will also eliminate frauds and unnecessary payments.
  • Simple setup: The FunFair casinos are easier, faster and cheaper to build compared to traditional technology. A simple setup is more likely to attract more gamers and prove to be more profitable to the operators.

The players will find the online casino games built with the help of FunFair technology fair, faster, secure as well as fun.

Price Details

FunFair (FUN) lists among the top hundred cryptocurrencies at 85th position, according to coinmarketcap.com. The market cap of FUN at the time of writing shows approximately $135,003,543 USD approximately while volume (24h) is over $1,715,000 USD. (As of 11th June 2018)

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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