Crypto and Gambling Meet Again

Blockchain seems to be entering the use phase, however not in the way you might think. Although a small number of enterprise projects such as Stellar Lumens (XLM), Ripple (XRP) and brand new player VeChain (VET) are up and running, most of the current blockchain dapps (or distributed applications) are in consumer sectors.

Both Bitcoin and Ethereum have roots in online gambling and gaming as a form of payment but now we have come full circle in this flood of new crypto projects. At this point the most famous dapp of all time is CryptoKitties, the Ethereum “game” that clogged the entire network for days on end. Bloomberg is reporting that CryptoKitties has lost the top spot as far as real-world transactions to the little-known Fomo3d, a gambling dapp.

DappRadar says that gambling is now the number two category after exchanges. Distributed gambling projects have the advantages of transparency, predictable payout rates, and often times low fees. We will be watching this sector closely in terms of growth, and are also looking at various staking or token holding options that share back winnings in the form of dividends or token buybacks and burns. Usually holding that specific token on your gambling account will also give you perks such as reduced fees or special access.

https://www.bloomberg.com/news/articles/2018-08-10/gambling-apps-surpass-cryptokitties-as-blockchain-s-money-maker

World Crypto Con

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