vDice, a fully decentralized version of SatoshiDICE, has recently announced an Initial Coin Offering period in which users will have a one-time opportunity to own a piece of the Ethereum-based gambling Dapp.
vDice, named after Vitalik Buterin, is a decentralized betting game built on the Ethereum blockchain. Unlike its predecessors, vDice requires no centralized structure whatsoever. Instead, it relies on an Ethereum smart contract system that retrieves random numbers from a well-known third-party website, random.org. The vDice system has been audited and it is currently finished and live, so when you invest in the upcoming vDice ICO, you’re investing in a finished product and a proven business model, which is highly unusual for Initial Coin Offerings, where the invested funds are often used to start developing the project.
The Initial Coin Offering period will start on November 15th and it will last for a month. During this time, users will be able to exchange their Ether or newly issued vSlice tokens. These tokens represent part of the ownership in vDice meaning that its holders are entitled to receive dividends from the profits generated by this gambling Dapp according to the amount of owned tokens. As usual, early investors are entitled to a bonus. Learn more about the vDice ICO.
The game itself is extremely simple and intuitive. It requires no account, password, or verification, instead, users just need to send Ether to one of the displayed wallets according to the type of bet they want (using one of the supported methods) and the smart contract system takes care of the rest.
Online gambling is extremely popular, and the demand for fully decentralized and transparent alternatives is obvious when considering that more than half of everyday bitcoin transactions are the result of online gambling. This alone does not guarantee the success of vDice, and that is where the funding stage comes in. All the proceeds from the ICO will be used to further market and develop the vDice Dapp in order to make it the go-to place for Ethereum-based betting. Not only will vDice market their gambling platform, but they will also make it faster and more reliable. You can read all about it in the development roadmap and business plan.