How Blockchain Makes Online Gambling Fair and Transparent

cryptonews.com:

Blockchain technology brings decentralization to financial transactions, breaking down the closeted procedures embraced by traditional finance. The result is the blossoming of transparent ledgers that store data about financial transactions, enabling anybody from anywhere to view them. Blockchain transparency breeds a fair system where the control remains with users, preventing the occurrence of corrupt practices. Ergo, transactional data published and stored on blockchain ledgers is immune to manipulation. Those looking at them are served information with the utmost integrity.

These benefits can be brought to all financial applications by integrating them with blockchain networks. For example, the use of blockchain technology for online casino platforms brings transparency to the transactions and data relayed between them and their users. The latter can rely on the on-chain data to learn the status of their bets, winnings, game statistics, and so on. Blockchain transparency prevents players from falling prey to dishonest behavior.

The Fairspin online casino brings these benefits to gambling enthusiasts with its blockchain-powered platform. It uses Trueplay’s solution, ensuring data transmission from the platform to the blockchain, where it is verified, and Trueplay Explorer, where it is displayed in real time for everyone to see. Such a solution enables the flow of genuine information, depicting withdrawals and deposits, bets, earnings, and much more.

The contrast between Fairspin and other “crypto” and “blockchain” casinos is its reliance on blockchain technology. Most other online casinos hiding behind those terms simply use cryptocurrency to accept deposits and make payments. All other processes occur opaquely within