Ever since the Mt. Gox systems hack, Bitcoin innovators became increasingly cautious about the security preparedness, or the lack of it, when it comes to their exchange service providers. Although a lot has been done to buttress the safety levels of cryptocurrency, merchants and other sector players, there is still a lot that can be done to improve the situation. The incorporation of technology into the whole cryptocurrency space is not only meant to enhance security but also plays a role in boosting the player experience among other things. Indeed, there are some new technological advancements that have made cryptocoin and, by extension, cryptocurrency casinos, better. Let’s have a look at some of them.
The 3D technology is undoubtedly a milestone achievement for game developers. The crystal clear visual imaging that is a result of this innovation is second to none. Most gamers are thrilled and amazed by the pleasurable experience they derive from trying out such games. In earlier days, casinos did not have the advantage of such breathtaking displays. Slot games were dull and did not offer the much needed fulfillment that gamers needed. The incorporation of 3D technology, however, brings the gamer closer to the action. For live gaming, the action is even better as you get to interact with the dealer in real time.
Casino gaming outcomes have for long been the source of player anguish and doubt. Many gamers have always questioned the huge disparity between the losses and wins. The advent of provably fair into the gaming scene was seen as a God send by many gamers. Through this technological innovation, players can analyze and evaluate the fairness of an outcome on the part of the game provider. This technological novelty runs on an algorithm that comprises a random number generator. The game provider openly displays the criteria for determining the outcome of each game. In essence, this means that a gamer can verify an outcome without the assistance of a third party. The ease of verification is dependent on the mode of scrutiny. For instance, outcomes that require a mathematical verification process are more involving and harder to audit.
Many cryptocurrency providers have taken security and privacy concerns a notch higher. Through a process known as shielding, only the nature of a transaction can be seen. The finer details of a transaction including names of the individuals, dates and amounts cannot be accessed. The growing need for security and privacy by gamers and cryptocurrency casinos has created a massive following for this technology. In order to access any transactional details carried out, one would need an advanced cryptographic technique or better still deploy the zero knowledge proof construction also known as zk-snark. With the aid of a decentralized master code network, you can take it a notch higher by completely hiding your details. This technology guarantees untraceability and utmost privacy a perfect feat for both gamers and Bitcoin casinos.
Encoding data and messages is a practice that has long existed in the cyber world. Creation of a buffer for sensitive information in order to bar breaches is what is referred to as encryption. For crypto coin casinos, the importance of multi-layered encryption cannot be gainsaid. Through this important innovation, information can only be accessed by authorized personnel by creating an encryption on an already encoded message. The idea is to have keys that are statistically independent of each layer in order to bar access. If two ciphers used a similar key, it means that the key could get through the first and the second layers without much difficulty. It therefore becomes prudent for exchange service providers and casinos to create a multi-layered wall for storage of cryptocurrency to prevent hacks and system breaches.
Swift Blockchain Technology
A Blockchain being the nerve of cryptocurrency transactions makes it a vital feature in trading activities. Being a database that serves as an archive for records, it can only mean that the size of its memory determines its efficiency. The records are stored in tranches known as blocks, with every block serving as a link to the previous one. The blocks contain stamps detailing the timelines under which the transactions were performed.
Therefore, having blockchains with bigger memory capacities would in effect mean that the processing speeds for every transaction would be faster. Making a purchase from the cryptocurrency mines would not take as much time. Similarly, transfer of the same to either a casino or an online merchant would just be as fast. Investing in swift, efficient and larger blockchains, is a sure remedy for the delays experienced whenever you are in need of a quick transaction.
This is certainly a new age of innovation and technological advancement. Cryptocurrency casinos need to keep up with fast-paced changes if they are to survive. Factors such as efficiency, anonymity, user experience and transparency are truly key to customer satisfaction. Adoption of the latest technology that resonates well with subscribers is a sure bet for casinos seeking a bigger market share.
For those of you looking for a Bitcoin tax calculator, read our comprehensive guide covering what are considered to be the 5 top crypto calculators ...
Imagine being able to trade crypto for a living while also playing blackjack, sports, and make intelligent bets and getting the best possible ROI on y...
One of the greatest strengths of cryptocurrency sometimes plays out to be its greatest undoing. If you are a Bitcoin user, one of the reasons you pref...