What Is Edgeless and How Is It Changing the Way Online Casinos Operate?

What Is Edgeless and How Is It Changing the Way Online Casinos Operate?

The blockchain technology is destined to change the way transactions take place over the internet. With the rise of cryptocurrencies, concepts of accountability and transparency have strengthened.

Somewhere in this noise of cryptocurrencies, blockchain platforms, etc. edgeless platform has emerged as a savior for those who want to gamble online but in a safe environment legally. Edgeless is the pioneering online casino which is fully decentralized and uses the Ethereum blockchain as its basis.

Why Was Edgeless Needed?

As bitter and disappointing as it may sound, the online casino industry is notorious for being one of the most rigged online industries. With traditional online casinos where fiat money has been used for years, fairness has always been an issue.

Games that require random number generation always worried the players as there was no way for them to know if these numbers were being generated randomly and fairly. Another thing that traditional casinos have been doing wrong is charging significant fees to players when they deposit or withdraw their funds.

In addition to these things, traditional online casinos have also been making tons of money by monetizing through house edge. House edge being the cut that casino owners deduct from players’ betting money has always hovered around 15% for most online casinos. So, was there a way to relieve players from such disadvantages as they gambled online? No, there was a no solution until Edgeless was developed.

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Features of Edgeless

Edgeless is based on Ethereum blockchain. Therefore, the use of Ethereum smart contracts makes it impossible for casinos to cheat with the players. Here are some of the main features that make the Edgeless platform a much better choice than a traditional fiat money online casino.

  • Use of Ethereum smart contracts gives players a chance to play in a 100% cheat-free environment.
  • With the Edgeless platform, players don’t have to deal with the annoying house edge, while traditional casinos charge up to 15% of house edge.
  • Since cryptocurrencies are decentralized, players never feel that casino has the control over their money.
  • Every transaction made with Edgeless tokens appears on the public blockchain, so the chances of lowered winnings through rigging are close to zero.
  • While traditional casinos try to make money withdrawal process a pain in the neck, the Edgeless platform allows for instant withdrawals and deposits.
  • You can play sports bets, poker, dice and blackjack on the platform for now.
  • Withdrawals and deposits can also be made on Edgeless for free.

Even with several bitcoin casinos out there, the level of transparency was not as high as it is with this Ethereum based platform.

The Team

The professionals behind the technology call themselves the blockchain enthusiasts. The three minds behind the technology are Ignas Mangevicius (co-founder blockchain-based systems developer), Tomas Lukosaitis (co-founder and handles business and operations) and Tomas Draksas (co-founder and a professional gambler and poker player). The Edgeless team believes firmly in the future of smart contracts as a game changer. Since smart contracts are known for their level of transparency, the notoriously rigged online casino industry was the best place to implement the use of smart contracts. The platform provides sports betting with up to 5% margin to monetize and grow.

Edgeless Tokens – Supply and Circulating Amount

Edgeless tokens are ranked within the top 100 cryptocurrency tokens in the market right now. The symbol of edgeless tokens is EDG, and as of now, one coin is worth more than $0.9. Its value against USD has been rising steadily since the start of this year. The value has also been on the rise against BTC with the recent worth being at 0.00024758BTC. The total market cap is over $76,000,000. It is just the beginning of Edgeless and looking at its performance history for the year of 2017, things have been appreciable and seem good for it in the coming times.

edgeless altcoin chart

It is currently one of the best Ethereum based tokens available for online gamblers as well as casino owners. Online news websites and cryptocurrency related platforms have been actively talking about Edgeless and how it will pave the way for undistorted and unrigged online casino industry. The more this news is shared, the higher the value is expected to go for Edgeless.

Conclusion

The decentralized nature of cryptocurrency is bound to bring revolutionary changes in how the online industries will operate. The launch of a transparent and house edge-free gambling platform is just the beginning. While many others will jump in soon to be a part of this trend, there is no doubt that it is Edgeless that has taken the first bold step. It must also be reminded here that Edgeless is going to benefit not only the online gamblers but casino owners too by following the monetizing methods of Edgeless platform owners or improving on them.

Thanks for reading!

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