Blockchain adoption has been on the rise for the past few months, especially after the bearish trends of 2018 that ruined the crypto markets. Investments in DLT start-ups grew exponentially, as venture capitals poured in over $5 billion in the space.
Since then, a number of industries have come under the wings of the innovative tech, as positive future predictions continue. One of the sectors which have been heavily benefited by cryptocurrencies is virtual gambling. A number of crypto-based gambling portals have mushroomed in the recent past just like online gambling with bitcoin. However, this wasn’t unexpected, given the fact that online gambling had been around for a while, and blockchain had everything to push the game further.
To capitalize on the expanding blockchain-gambling affair, Dao.Casino, has partnered with Mixbytes to create a new DLT platform for the online gambling segment. The announcement came via an official tweet from Dao.Casino.
— DAOBet (@daobet_org) April 30, 2019
The biggest challenges that face the online gambling industry are lack of trust, questionable genuineness, and security of funds. All of these have been perfectly addressed by blockchain technology. DLT brings transparency, which eliminates any manipulations. Then there is the champion security feature, which allows none to access what’s yours, which gives a peace of mind.
In its tweet, Dao.Casino shared a blog posted on its website, which states that the partnership with Mixbytes will provide unified blockchain solutions for the gambling industry. The Singapore based entity further stated,
This partnership is of great value to DAO.Casino Blockchain creation, as there will be more high-level experts taking part in creating a brighter future for the gambling industry.
MixBytes are to provide DAO.Casino with thorough consulting and collaborate to create the DAO.Casino Blockchain, featuring all the necessary technologies to ensure the future prosperity of decentralized gambling, as finality, random number generator, high throughput, low latency and more.
Decentralized tokens or cryptocurrencies are fast becoming the preferred choice for online gambling portals. Several virtual casinos based on Bitcoin, Ethereum, Litecoin or any other digital coin, have grown in number significantly. Upgrading the underlying blockchain platforms will further enhance the capabilities of crypto-based betting and transfers.
The to-be-developed blockchain will focus on reducing transaction times and increasing security. Dao. The casino has established itself among the prominent names in blockchain service providers, especially in the crypto space. On the other hand, the Moscow based company Mixbytes is focused on blockchain research and development, tech advisory and smart contacts. Mixbytes also retweeted the tweet.
— MixBytes (@MixBytes) April 30, 2019
Experts have suggested that blockchain technology will cover almost all businesses across the globe, in the next decade or two. If that turns out to be true, gambling will have a big stake in the blockchain space. Companies like Dao.Casino realizes this very well, and hence, they are putting extra efforts and resources into the space to be able to stay relevant in the ever-growing competition.