FunFair brings blockchain technology to the gaming world. The company’s official website states:
“FunFair provides blockchain-powered solutions with the potential to profoundly change the online gaming industry for both the operator and player. Using the latest Ethereum technology, we deliver low cost, high quality, transparent casino experiences that are provably fair.”
The platform seems to leverage much of the same type of technology that other cryptocurrency platforms do. That being peer-to-peer systems and networks and a cryptographically secure blockchain. FunFair reportedly uses this technology to offer a casino platform that promises to be:
- Provably Fair
- Low Cost
Furthermore, the casino platform offers use cases for:
- By using “transparent RNG” technology, games on FunFair are “provably fair”. Smart contracts are used to ensure that the game logic is running properly.
- Game Developers
- Smart contracts help ensure that payments are made on time to gamers who contribute to FunFair. There’s also a huge open-source community building around blockchain, which developers can grow and learn from.
- Casino Operators
- There is much less staff that needs to be hired due to automation of many processes via Blockchain.
- No third–party required to facilitate payments between casino operators and affiliates. Payments made on time and accurately via Blockchain.
In order to successfully launch a gaming platform, FunFair realizes that the gaming experience must be enjoyable and the game loading and processing times must be fast as well. Therefore, these aspects are taken into consideration and are given a high priority by the platform’s developers. The creators of the gaming network claim that their games run as fast and smoothly as “traditional online casinos.”
FunFair Aims to Automate Most Business Operations via Blockchain
Additionally, the gaming platform reportedly does not use a bank to handle transactions. So, deposits and withdrawals can be made “instantly”, according to the casino network’s designers. Moreover, user funds are not held by the casino, as is the case with traditional casino platforms. Instead, the funds are held securely in users’ online cryptocurrency wallets. There are also escrow services which are used to securely hold “potential winnings” and are available for “instant payout” via the blockchain.
Furthermore, the registration process is conducted using blockchain technology in order to prevent fraudulent transactions. FunFair reportedly also complies with KYC (Know Your Customer) requirements. For casino operators, the company promises much lower overhead and costs by not requiring as many databases and heavy-duty servers. Automation via blockchain by the company also helps cutting down costs associated with hiring technical personnel and cybersecurity professionals.
Casino operators can reportedly even benefit from lower fees and no chargebacks due to smart contract powered transactions. There is a high level of security maintained on the gaming platform through a decentralized ledger which can withstand power outages and common problems associated with hardware. Moreover, distributed consensus is used to validate all bets placed via FunFair, so the integrity of the data on the platform is ensured and immutable.
There are similar incentives to use this platform for game developers and affiliates as well. We will be looking into this in future articles posted right here, exclusively on Crypto Core Media.
DISCLAIMER: This article is not meant to influence any investment related decision. It’s purely for information purposes and to spread awareness about cryptocurrencies and blockchain.