When players hear decentralized games, they immediately think of crypto and blockchains. Since the invention of the blockchain in 2009, the technology has changed various industries. Online gambling has not been left out from the sweeping wave of changes. The integration of the blockchain and crypto with online gambling has birthed decentralized games. In this article, we will examine why the blockchain and crypto is the backbone of decentralized games. But first, let us examine what decentralized games are.
What is Decentralization in Games?
Decentralized games take advantage of the blockchain and cryptocurrency to provide on-chain and transparent gambling. Bets do not go through an intermediary and are strictly between a bettor and the operator. The best crypto casino no KYC offers users the ability to convert their cryptocurrency to fiat. In addition, players can check all past bets made and the outcomes on the blockchain for extra security.
It is important to note that while decentralized casinos offer full anonymity, they are not the same as No KYC casinos. Some decentralized casinos function as no KYC gambling platforms but others will require identity verification. Both terms should not be used interchangeably.
The transparency provided by decentralized casinos ensures that:
- Operators and players can trust each other to provide a seamless experience free of cheating.
- Decentralized games improve player power because no one entity can control the entire architecture of the platforms backend.
- Operators cannot manipulate games or cheat players out of winnings. They cannot also arbitrarily change the odds or house edge to reduce player wins.
Benefits of Decentralization
The benefits of decentralization are why these games are growing in popularity among players. Decentralized games allow users numerous benefits which are not available on fiat casinos. These benefits include:
Privacy and Anonymity
Privacy is an important feature for gamblers and this is due to various societal reasons. Gambling is not a generally accepted practice which leaves many players hesitant to let others know they partake in such activities. With decentralized games, players can keep their identities hidden while playing their favorite games. These casinos do not require KYC and AML checks where players have to provide identification that contains their name, age, and other sensitive details for verification. This encourages more players to gamble as they would be protected from the prying eyes of outsiders and there will be no judgment on their activities.
Fast Transactions
Without money, playing games at decentralized casinos will be impossible. These casinos use cryptocurrencies to facilitate gaming experiences and they are transferred from player to operator using the blockchain. Decentralized casinos do not have to endure the bottleneck of middlemen for the transfer of funds like fiat casinos do. The blockchain allows players to send money directly from their wallets to the casino without any hitch and in record time. This is because the blockchain can handle thousands of transactions in a minute and the mechanisms it uses for processing transactions are suited for online gambling.
Provably Fair Games
Provably fair games are games that players can check behind the hood to see how they work. These games are enabled by the blockchain and use cryptocurrency to power operations. Provably fair games allow players to verify each play and see how each bet and outcome was reached.
Players can check the RNG (Random Number Generator), house edge, and other features that affect the final outcome of games. This allows players to keep operators honest and it improves the chances of winning as players can now input the house edge and other relevant details into their strategies. Provably fair games change how players and operators interact and improve the transparency between both parties.
Security
Security is very important for online activities and doubly so for online gambling. Players need to know that they are protected while they are playing their favorite games and there is no better platform for this than the blockchain. The blockchain is immutable and bad actors cannot hack or gain access due to its decentralized nature. All transactions are vetted by the nodes that are part of the blockchain and fraudulent transactions will be rejected. Fraudulent operators cannot also swindle players as all transactions can be verified on-chain.
Game Variety
The variety of games available on decentralized casinos are diverse because the addition of the blockchain provides unique games that could not be possible without. Game variety is an important feature of casinos because they are a major factor that bring new players to their platform. Decentralized casinos can offer players a great gaming experience because there are thousands of games for players to choose from. This is further improved by the transparency of each game which means that players can view how each game works before placing a single bet. Therefore, more players will be willing to try new games and enjoy new experiences.
Low Transaction Fees
Transactions fees have been a barrier to entry in traditional gaming for a long time. Depositing/withdrawing funds from regular online casinos attract a fee because of the intermediaries used in the facilitation of the payments. These fees are reduced when using decentralized casinos because users send money directly to the casino from their wallet and only have to pay network fees which are very low. This also enables players to send large amounts to the casino as the network fees remain low regardless of the amount being sent. Removing this barrier allows more players to enjoy online casino gambling.
Accessibility
Decentralized games are universally accessible because they are built on a blockchain. Regular games suffer distribution problems because they are blocked in some regions which hinders their ability to capture new players. Although players can bypass these restrictions using a good VPN (Virtual Private Network) provider, decentralized casinos eliminate this bottleneck entirely. With a mobile phone or computer, you can access decentralized games anywhere in the world. This brings gaming to millions of players who would otherwise not have been able to access these services.
