Are Bitcoin Gambling Games Provably Fair?
To make Bitcoin gambling games provably fair, the transparent features of blockchain technology have to make it so. Gambling before now had no way to measure inflows and outflows.
The rise of distributed ledger technologies has proven to be effective in ensuring how to make Bitcoin gambling games provably fair.
Blockchain Security Makes Bitcoin Gambling Games Provably Fair
The security features of blockchains have created a scenario that ensures a neutral scenario for Bitcoin games
Many online cryptocurrency games now have blockchains where the distributed ledgers where all the participants in such a system can ensure that fairness is achieved.
In this new age of machine learning, the stakes in the game are higher than expected.
Gaming has for many years been the favorite “go-to” place for criminals and other spurious elements who have to launder their funds.
Centralized systems provided a haven where opacity rules. Anybody could do what they wanted with those systems.
Decentralized systems, on the other hand, have no central authority. It gives rise to a scenario where different nodes in the ledger serve as witnesses.
As such, blockchains and their various implementations could serve as a use-case scenario to make Bitcoin gambling games provably fair.
Blockchains and Decentralized Ledgers Serve as Impartial Witnesses
The great advantage of blockchain technology is that participants in the blockchain ledger can serve as witnesses to transactions.
This ability has created a new paradigm. One where witnesses can exist on the blockchain.
These witnesses can point out any unfair transactions, processes, or procedures in real-time before the data gets confirmed on the blockchain.
It is this scenario that any within the gambling industry has looked forward to.
With a neutral witness, it is now possible to check for inconsistencies in gaming processes.
It also gives the strategic advantage of transparency to game developers.
Blockchain’s Open Source Coding Culture Helps
The general blockchain community has an open-source coding culture.
It means that the source code of open source applications is freely available for just about anybody to audit.
It plays out well with the gaming community.
The owners of gaming platforms now have to release their code or audit.
In the best use-case scenario, players and other members of the gaming community can check for games to be provably fair.
It, of course, improves the chances of making Bitcoin gambling games provably fair.
If the gaming code can be released for audit, then that reduces the chances of cheating.
It also increases the chances of transparency on the part of the gaming platform owners.
Of course, things are still dicey on many fronts. But, there is a shift as more people are moving from centralized systems to decentralized ones.
As such, the practices, procedures, and culture of the decentralized community will seep through.
Trustlessness Allow for Improved System Stability
Before now, most systems were coded based on the concept of trust.
Everyone had to look towards one central authority for validation of records, processes, and procedures.
These days, however, the distributed ledger has displaced central authority.
It has also served as a basis for a new kind of culture.
One where everything works based on math rather than on trust.
People now trust the math that the ledger presents rather than others.
It also allows for new kinds of possibilities that hitherto never existed.
As such, decentralized gaming systems are now more stable than their centralized counterparts.
It has also made gaming become more fun as mother luck has come back to town!
Player Interference is Near Zero
Operational blockchains don’t allow participants in their ecosystems to tamper with their ledgers.
As such, players don’t get to change data entered into gaming ledgers.
They can’t interfere with outcomes.
When one is dealing with Bitcoin gambling games, this scenario works perfectly as the use of blockchain technology allows for this.
If we are to make Bitcoin games provably fair, we would have to ensure that blockchain or distributed ledger implementations to work on a decentralized basis.
Mixing Centralized Systems with Decentralized Ones has Issues
Many of the applications that we have today within the decentralized space are hybrids.
They mix centralized systems with decentralized ones.
So, the applications that have these centralized implementations face the usual risks that mainstream applications also face.
It creates a scenario where their risk levels as per security are almost as high as their mainstream counterparts.
The use of distributed ledger technologies ensures that this doesn’t occur.
The many problems of centralized systems completely disappear when fully decentralized implementations occur.
To make Bitcoin gambling games provably fair, the gaming platforms have to be purely decentralized.
It allows for the total elimination of the various issues that bog centralized systems.
It also makes such platforms global.
Anybody anywhere can play such games without having to go through the hoops that centralized systems put up.
It is, of course, one more plus for the gambling platform owners.
In the long run, we are going to see a full shift from centralized systems to decentralized ones.
It is something that will be led by the mass adoption of blockchain technology.