Online gambling is a massive market that is growing all the time. Tokenroll is a new company that has created a decentralized gambling platform which uses the power of blockchain to empower gamblers everywhere.
Everyone knows that sometimes casinos aren’t honest with their customers. In the world of online gaming, this dynamic had become more problematic. An online casino doesn’t have to load dice in order to scam their clients, the digital age has made it much easier.
Today, online gamblers want more transparency, and Tokenroll is here to help them. Unlike some decentralized gaming platforms that may not offer a full stable of casino games, Tokenroll’s platform has almost anything you would find on a major gambling site right now.
Tokenroll is Ready for Online Gambling
Decentralized casinos might seem like a strange idea. Instead of using a company to act as ‘the house’, Tokenroll has created a platform that allows people to help run the casino themselves. The big advantages to this platform are a high level of transparency and a low-cost basis for use.
Additionally, Tokenroll designed its platform to work directly with Tron smart contracts and stablecoins. Instead of having to trust the ‘house’ with your money, Tokenroll allows users to have a much higher level of financial security.
Tokenroll has a functioning Dice game live already as an MVP.
Online Gambling is Growing Fast
According to some estimates, online gambling is expected to generate $90+ billion USD per year by 2024, up from just $45 billion in 2016. The rise of mobile technology has been a big driver of growth so far, and blockchain may be one of the reasons why those growth estimates could be conservative.
Centralized casinos present limits to growth. Unlike decentralized gambling platforms, centralized casinos have to comply with all the regulations that govern their operation both at-home and abroad.
For example, gambling is illegal in numerous countries around the world. Any centralized exchange that operates from a respectable jurisdiction like the UK has to comply with laws that prevent them from taking on clients who are breaking the law in their own country, which is a serious limit to their market size.
Decentralized Casinos Allow Everyone to Play Freely
Like most things in the decentralized world, casinos that use blockchain to achieve decentralization will allow almost anyone with an internet-connected computer to gamble. Their activity is still illegal under local laws, but it is far harder to spot their activity and enforce local laws.
Peer-to-peer gambling sites have spearheaded this effort to democratize gambling regulation, but Tokenroll is taking it to the next level with a full complement of online casino games, as well as a digital ‘bankroll’ to backstop the platform’s operations.
One of the biggest drawbacks to a strict peer-to-peer gambling platform is the fact that there is no liquidity provider that is dedicated to the network. Tokenroll seems to have caught on to this limitation and created a hybrid model that allows there to be true decentralization, as well as a backstop for the gambling network’s liquidity.
The Tokenroll Model
At its core, the Tokenroll platform will allow people to interact directly with a Tron-based decentralized gambling platform.
Blockchain technology is still very new, and most platforms aren’t as user-friendly as they could be. All this presents a big problem for rapid implementation of blockchain-based systems, which is what Tokenroll is solving for the world of online gambling.
In addition to letting people run their own decentralized gambling nodes (and earn tokens for their betting), Tokenroll is making it easy to gamble with stablecoins on a Tron-based smart contract platform. Instead of trusting an online casino with your funds, they will be held by a smart contract that no one can tamper with.
The advantages created by the Tokenroll model are manifold.
Like any decentralized model, the use of smart contracts removes the need to trust a centralized authority. There are no worries that a counterparty may not have the funds to cover a winning bet, or that the house may not pay out winnings in a timely fashion.
Tokenroll takes these advantages a little further and takes 20% from any losing bet. The tokens that are collected will be used to finance games which need to have a ‘house’ model, and also to continue to develop and market the platform.
What is Tron?
Tron is a blockchain platform, in the same way, that Bitcoin is a blockchain platform. Unlike some of the more popular blockchains (Tron is usually in 9th or 10th place based on value), Tron is much faster. It is also inexpensive to use, which may be why Tokenroll chose to use it for its back-end.
Like Ethereum, Tron allows the use of smart contracts that remove trust from a transaction. Once the smart contract is created and funded, there is no way for either party to back out. Smart contracts are a near perfect structure for online gambling, and make it easy to create just about any kind of event-based betting structure.
Tron tokens are freely convertible on most major crypto exchanges and can be sold into any of the major tokens which are possible to turn into fiat currency. Tokenroll won’t use Tron tokens directly, and will instead use stablecoins which are fixed in value to the US dollar.
Tokenroll is Building a Better Global Casino
There are some options out there for people that want to gamble online, but Tokenroll takes online gambling to a new level. Not only is the potential market much larger, but Tokenroll also offers its users more security and transparency than any centralized online casino ever could.
The Tokenroll Token (TKR) will help power the Tokenroll platform. The first public sale of TKR tokens is being planned, and anyone who uses the Tokenroll platform will also be rewarded for gambling with additional TKR tokens.
If you are interested in the Tokenroll Token Sale, here is more information:
- TokenRoll Token Symbol: TKR
- Token Standard: TRX20 (Tron blockchain)
- Total Token Supply (If all the tokens are sold): 100,000,000 TKR
- Tokens Available for Sale to the Public: 30,000,000 TKR
- Public Sale Start Date: 30th of April, 2019
- Public Sale End Date: 30th of May, 2019
- TKR token Price at Public Sale: $0.03 USD
- Payment Method: USD, Bitcoin, Tron, Ethereum, Litecoin
- Hard Cap: $900,000 USD
- Soft Cap: $350,000 USD
Blockchain is the perfect platform to replace existing centralized systems, especially when it comes to gambling. The risk of bad actors in the online gaming arena is high, and the use of Tron-based smart contracts helps everyone who uses the Tokenroll platform to know their bets will be safe, and they will be paid if they win.
Keep an Eye on Tokenroll
Online gambling is likely to keep growing, and Tokenroll has a good chance of building a solid business in the sector. Smart contracts could be a game-changing technology in online gambling, as they allow people to build trustless systems that can handle wagers of any size.
Tokenroll is set to roll out its platform over the rest of the year. The company appears to have created a viable online gambling platform that addresses many of the challenges that decentralized gambling platforms face, and offers a full range of casino games.
If you would like to learn more about Tokenroll, check out its whitepaper right here
Credit: Source link