Online casinos have a lot of benefits when compared to offline casinos, lower house edges, increased availability of games, the possibility for users to play at their own pace, etc. but, they also share things in common, like the fact that players have no way to verify the veracity and fairness of every bet and have no other choice but to trust the casino.
Now when it comes to blockchain-based casinos, you have more benefits, house edges are even lower, they use to have higher maximums and lower minimum bets, and the best thing of all, it is provably fair.
What is provably fair gambling?
Provably fair gambling is a process that eliminates the need for trust and allows players to verify that the outcomes of the bets are fair and free from tampering.
There are different methods to implement a provably fair system, Bitfresh uses one known as commit and reveal.
How does commit and reveal work?
The commitment scheme is a cryptographic algorithm, it allows someone to commit to a value (which can’t be modified once commited) while keeping it hidden from others until it’s ok to reveal it.
As its name implies, this method consists of two phases…
Commit: When the value is chosen/specified
Reveal: When the value is revealed/verified
During the commitment part of the process, the hash from the current block is combined with a client side seed (a randomly generated text that can, and should, be modified by the player) in a hash (converted to a value that cannot be converted back again). At the same time the house commits to a hashed selead seed.
During the reveal part of the process, after the seed and commit have been stored, the involved parties have to wait for at least one block before actually revealing the sealed seed. In order to validate that the commited seed is valid, both the sealed seed and its commited hash are compared, if they match, the seed is accepted and can now be hashed together with the previously stored user seed to generate a random number.
How to check if a game result is fair?
Bitfresh will share a document with details on how to validate game results directly through the smart contracts (stay tuned), later, a method to verify bets directly through the Bitfresh website (and through 3rd party websites) will also be provided.
Final Words
With so many possibilities and so many cheaters/scammers in both the online gambling and the cryptocurrency universe, players should give themselves the best chances to win using provably fair platforms like Bitfresh.
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