Ethereum blockchain technology
Ethereum platform initially was created to complement Bitcoin technology, but they become competitors very fast. Imagine to the date even some of the Bitcoin holders store their Bitcoins within the Ethereum platform as it is very flexible. So let us discover why this cryptocurrency platform is so popular today.
The construction of the Ethereum blockchain is more sophisticated compared to Bitcoin blockchain. Ethereum is a separate software platform that represents a computers’ global network. Together this network operates as a solid supercomputer. The network uses smart contracts technology. Smart contract in simple words is a program code that is used to develop decentralized apps within the platform. As ethereum works according to blockchain technology there are nodes in the chain. To create a smart contract a program developer starts a node and writes a smart contract. As an independent platform Ethereum uses its own programming language Solidity for smart contracts writing.
Ethereum technology is widely used in different industries and fields; there are plenty of Ethereum casino online platforms, online shops, investing platforms, etc.
Ethereum casino benefits
Since Ethereum popped-up in 2015 numerous possibilities for gambling were open. Ether using as a payment method is much easier and safer compared to credit cards. When you choose Ethereum for betting all you need to be aware of is to play within the reliable online casino platform. Among the main advantages of playing with ETH are:
- Casinos do not take any additional payments such as commissions for Ethereum gambling as they are interested in involving more Ethereum players.
- Betting with Ethereum you can avoid all the restrictions that are not allowing you to play. For example, if you are in a certain country that does not allow gambling.
- When it comes to Ethereum gambling, you will not require sharing any of your personal data such as email, name, mobile phone, card number, etc. You can play at Ethereum casino anonymously. This will guarantee you secure gambling.
- All the transactions you provide betting with Ether are completely safe and secure because of the decentralized financial control system use. Blockchain technology allows gamblers to avoid third parties financial control and get more freedom.
- You can count on fair play when it comes to Ethereum gambling via blockchain.
- There is a lowest inflation rate when you play casino games with ETH.
Bitcoin vs Ethereum gambling
Both Bitcoin and Ethereum casinos are using random number generators that guarantee fair playing. There are many different game types for both payment methods. In addition, when it comes to casino bonuses – both Ethereum and Bitcoin are giving to gamblers plenty of privileges. There are also not many distinctions between these two payment methods when it comes to gambling safety and anonymity.
The main distinction is in the technologies. Bitcoin is a cryptocurrency. Ethereum is a software platform. Ethereum gambling differs from Bitcoin gambling when it comes to transaction speed. Transactions with Ether are several times faster than payments made within Bitcoin’s blockchain. The main purpose of the Bitcoin is to store values and exchange them between people without a third party. Ethereum was initially made as a platform with more possibilities than just storing and exchanging tokens. However, Bitcoin is still the most wide spread cryptocurrency in the world, Ethereum is more flexible and has a lot to offer.
Ether or Ethereum?
Many people confuse these two terms: Ether and Ethereum. However, this is the same as confusing Bitcoin with blockchain. Ethereum is a blockchain software platform, when Ether is a cryptocurrency owned by this platform. Ether is stored and exchanged within the Ethereum.