Chips is a pioneering currency used in decentralized poker games. Other online poker coordinators have been known to stick to a centralized server, having to connect to their nodes while trusting their companies to host their poker applications. Some even go ahead to accept cryptocurrency as a means of payment; however, these applications are centralized, unlike CHIPS which uses a decentralized distributed network.
Furthermore, chips are another Komodo decentralization technology that has revolutionized online gambling and gaming, with low rake fee and funds that go directly into your wallet what could be better? For a decentralized on-chain poker application, Chips is used to provide a secure, trust-less, peer to peer currency.
They are using actual blockchain-based technology, which is a sort of an open ledger where transactions get verified between the two parties. Online gamblers using Chips provides an easy-going reliable way to engage in online poker games.
What Chips does is to provide an opening for players to wager at an outstanding rate. Aside’s from being used in poker games, Chips can be used in any gaming system that supports micro-transactions and payments. The Komodo technology in Chips allows the lightning network to be put in effect in an entirely practical way hence the ease in adapting to any online gaming domain.
Chips have its features, and this is where the attraction is; one of the fundamental attributes of the currency is that it is lightning network and Segwit enabled, which supports other online gaming. Chips have taken complete advantage of the network which allows for its efficiency, fair gaming, low fees, and a truly decentralized system. The technology also creates a real-time betting platform.
Microtransactions is yet another attribute of Chips; a microtransaction is very common in online video games. This transaction represents extra payments that are made outside any initial game purchase but are made during the game. These transactions are accepted as a monetization strategy and Chips allows for its ease of use, which solves payment processing issues.
Chips are entirely secured and supported by Komodo dPoW and used widely across its ecosystem by players and crypto enthusiasts. It has a 10 second block time, and the dPoW ensures that hashing power used to combat a lack of mining as a result of dwindling mine rewards and coordinate poker games would not lack.
Also, chips use a cryptographic function for deck allocation and shuffling by a poker dealer. The technology, although technologically unconnected to Pangea, the coin operates in the Pangea Poker dApp used in controlling game modules developed by Komodo Platform but is not limited to the Pangea.
Currently, Chips allows for a fully functional currency – a fair coin with no need to pre-mine. However, you can get some chips by buying from exchanges and other sites that make them available for trade.
Chips adaptable ability makes it easy to use in microtransactions by any technology; this happens to be one of the things that makes it valuable. Mostly, Chips has moved on from a simple concept to an acceptable means of exchange enables by the cryptocurrency world.