What is Gamblica? There seems to be yet another blockchain based casino in the market called Gamblica (GMBC).
What is Gamblica?
On first impression, Gamblica is an international gaming platform for all gamblers. It’s different from traditional online casinos as this one is based on blockchain technology, i.e. Ethereum blockchain to be exact.
As mentioned above, there are other blockchain based casinos in the market, and probably many more to come.
There are many great reasons why an online casino should be on a blockchain, which will be explained below.
They are still selling their tokens right now and have collected about a million dollars so far.
Based on their roadmap, the launch of their poker room will only be next year (2019).
Challenges of traditional online casinos
The reason why online casinos should adopt blockchain tech is seen through the challenges faces in online casinos.
Here’s a list of some challenges.
1. Transparency of blockchain casinos
This is probably the number one issue that blockchain tech can solve. There is always an issue of not knowing whether online casinos are fair in their games.
As luck is already against the players due to probability, any fixing of outcomes makes it even worse.
The lack of trust is why many players still go to offline casinos.
However, by implementing blockchain technology, there’s a way for players to verify if the RNG (random number generator) is fair or not.
They simply have to use the public key of the casino and the blockchain record to verify the RNG.
If you can implement transparency on an online casino, then it may actually do well.
2. Account registration and withdrawals
With regular online casinos, there’s always an issue of not being able to register an account, or even worse, not being able to withdraw money.
Some players lose money not from gambling, but from fraudulent methods done by operators.
That is a big trust issue users currently have. However, blockchain tech may be able to solve this.
Accounts can be created on your own and the founders of the platform can’t prevent registration or withdrawal of tokens.
At least that’s what Gamblica says in its one pager.
Steem which is also a blockchain can’t prevent creation of accounts or withdrawal of funds.
3. Fees and transaction speed
As it’s based on the Ethereum blockchain, transaction speed of Gamblica tokens should be fast (albeit not being the fastest blockchain).
The fees may depend on the Ethereum network, and how much gas is required to transfer tokens.
It may still be cheaper than traditional online casinos.
What games are offered on Gamblica?
At the moment, it seems like they have three main activities:
- Slot machines
- Sports betting
- Poker room
They have six main team members on their homepage.
You can read more on their team there and through the LinkedIn profiles.
In a nutshell
To learn more on Gamblica, read their white paper. Always read the white paper for a token instead of relying on a blog or a forum discussion before you invest.
From what I see, Gamblica is like other blockchain casinos that are already in the market. I don’t think they have anything extra to offer, nor do they need to do so.
The key to being successful is getting a huge user base on the platform and running the platform well.
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