How decentralized applications revolutionized the gaming industry

The next generation of the Internet will be based on decentralized technologies.Why do they need blockchain and what is the peculiarity of using a distributed ledger in this area?

Decentralized applications: the essence, advantages, disadvantages

Until the Internet completely transitions todecentralized applications (dApps) are still a long way off, but more and more projects and services are moving away from a single center to automate work, improve security and make theiractivities are transparent. 

DApp is an application thatIt functions without a backend, in a distributed computer system (for example, blockchain), using its power and taking over all the advantages. With their help, you can store information, create smart contracts and perform various operations with tokens.

The main advantages of dApps include:

• instant interaction and data exchange;
• the absence of a third party in the processing of payments and personal information;
• open source
• high stability and reliability of the system;
• open access to the registry.

However, this technology also has its ownlimitations. Since decentralized applications run on the blockchain, they are completely dependent on its stability. Like any network, each distributed registry has its own limits, so congestion and performance degradation are not ruled out. It is also possible to hack the system and change already closed blocks, although in practice it is difficult to implement.

According to the Dapp website.com, currently more than 3,300 decentralized applications, which process about 33 million transactions per day, are already operating on various platforms in total. Although this is a drop in the bucket, compared with the scale of the entire Internet, but this direction is developing rapidly.

According to the DappRadar rating, mostExisting and most popular dApps belong to the categories of gaming and gambling. While decentralization doesn’t change anything for an online game, in the gambling sphere it has made a real revolution.

Cryptocasino

Blockchain turned out to be an ideal solutionmain problems of online casinos. Its use for payment processing not only makes the gambling industry transparent, but also significantly increases the efficiency of operations. 

Earlier, transfers of funds between operators and players could take several days and part of the money burned high commissions. Cryptocasino also perform such operations quickly and without overpayments.

Payments at crypto casinos are anonymous.The blockchain does not use the personal data of participants, so although turnover can be checked by incoming/outgoing transactions, the bank or tax office will not see who exactly is behind these transactions. For example, financial institutions cannot track a client's gambling activity when considering a loan. 

However, this is the advantage of crypto casinosends because they use cryptocurrency as another payment method, but the number of bets a player made and how many of them became winning – remains unknown to everyone except the casino.

The value of blockchain for classic gambling

Blockchain ensures the integrity of crypto casinos,since every slot, game or lottery is a dApps and the operator does not have the ability  influence them after launch. At the same time, the distributed registry allows you to obtain detailed information about the statistics of each individual application. Projects openly publish this data. 

Despite the transparent games and betting results,the number of dapps is much smaller than those classic games that are on the market, and they are quite of the same type. If we continue to compare, in classic gambling games there are entire systems of bonuses and gifts (all to attract players), but in decentralized applications the games are monotonous.

One of the few examples of casinos thatcombined blockchain and classic gambling, you can call Fairspin. The platform runs on the Ethereum blockchain, all operations are processed by a smart contract, and an internal TPLAY token is used for transactions. Site users immediately see the rating and the percentage of payments for each game.

On the main page there is a section with advancedgame statistics, where the latest bets, deposits and payouts are displayed in real time. Before playing for real money, the user can try any application for free to see for himself the stated chances of winning. 

Fairspin does not offer gamblers to changetastes and switch to dapps. The project works with popular game providers, like other top casinos, but with the difference that information about all transactions between the player and the casino is public and available for viewing 24/7. 

If the casino claims to win the jackpot,then in the blockchain explorer it will be possible to find the corresponding transaction. If users doubt the percentage of return on the slots, this can also be checked using MyEtherWallet and Etherscan.

Unstoppable progress

Transition to Web 3.0 began with the most popular areas, such as gaming and gambling, so users of decentralized applications were the first to experience the benefits of future technologies.