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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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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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Altcoins

ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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