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What is EOS?
EOS is an entirely decentralized blockchain network that enables the development, hosting, and execution of commercial-scale decentralized apps. Moreover, it has a solid underlying infrastructure to allow this procedure.
EOS provides all of the essential functionality necessary for enterprises and people to construct these dApps, like how traditional web apps are produced. EOS can enable secure access and authentication, data hosting, use monitoring, permissioning, and internet connection amongst dApps.
Some have even compared EOS to Google's Play Store or Apple's App Store.
EOS leverages vertical and horizontal scalability to make its apps accessible to consumers (done by block producers). Furthermore, it provides a safe and scalable infrastructure for running hundreds of transactions per second. As a result, it is a fully functional and secure blockchain platform for delivering web services such as:
- EOS smart contracts.
- Cloud storage dApps.
- User authentication, etc.
EOS's creators and advocates have expressly highlighted the platform's most key selling points:
- Transaction costs are entirely eliminated.
- Capable of processing millions of transactions per second.
- Capable of processing millions of transactions per second.
A bit of EOS history
A startup named Block.one created the EOS protocol in 2017. Dan Larimer and Brendan Blumer led (and continue to lead) the company.
Before establishing EOS, Larimer was well-known among blockchain engineers, having built the first decentralized cryptocurrency exchange, BitShares, and the first crypto social media project, Steemit.
Larimer is presently the chief technical officer of Block.one, where he is the principal architect for the EOS software.
The EOS project was born from a year-long ICO that began on June 26th, 2017. Block.one ended up selling 1 billion tokens, earning the business a whopping $4 billion. This token sale was one of the most significant ICO events in the cryptocurrency industry's history.
What is an EOS casino?
In its most basic form, an EOS casino is an online platform that allows you to wager with your EOS tokens. Given that EOS is less than two years old, it should be no surprise that there are currently relatively few EOS casinos on the market.
Furthermore, although accepting several digital currencies, some of the key companies in the crypto-centric gaming market, such as FortuneJack and 1xbit, have yet to allow EOS payments and withdrawals.
Nonetheless, a handful of EOS gaming sites provide 24-hour gambling services. These come in various forms and sizes, so you'll need to select one that matches your gaming requirements.
Regardless of the EOS gaming site you choose, most providers will enable you to wager anonymously. This implies that the casino will never request identification or proof of residence from you. Instead, you need to enter your email address, and you're ready to go!
EOS gambling - how does it work?
EOS features a concise block confirmation time and secure authentication, making it ideal for peer-to-peer usage and gaming. Its primary rival is Ethereum casino or Ethereum, another popular cryptocurrency that is accepted at a broad selection of casinos worldwide.
However, unlike Ethereum, EOS users do not have to pay any fees because no miners are required to confirm transactions. In addition, there are no fees for network users who own EOS tokens since EOS utilizes a proof-of-stake methodology rather than Ethereum's proof-of-work approach.
EOS claims to be able to process over 100,000 transactions per second, making it perfect for gamblers looking for quick, secure, and simple deposits and withdrawals.
How to get started with EOS gambling
Despite being less popular than other cryptos with more significant market caps, such as Bitcoin and Ethereum, EOS has managed to attract a small, close-knit community of gamblers.
If you want to get started with EOS gambling, you'll be glad to hear that there are several provably fair casinos and decentralized platforms where you may play with EOS tokens in a safe atmosphere.
Here is what you must do:
- First, visit a reputable cryptocurrency exchange (Binance/Coinbase/Kraken).
- Purchase EOS tokens (credit/debit card or bank transfer).
- Sign up for an EOS casino using your name and a valid email address.
- Choose from popular cryptocurrency games like dice, keno, roulette, and slots.
After purchasing them from a reputable exchange like Binance, Kraken, or Huobi Global, you will need a secure wallet to hold your EOS tokens.
Depending on your preferences and security concerns, you may use hardware or online wallets to preserve control of your private keys. These will allow you to send and receive EOS tokens rapidly.
Exodus, Scatter, EOS Wallet, and Freewallet are some of the most popular EOS wallets for mobile devices with Android/iOS and desktop use.
You may also utilize secure online applications linked to hardware wallets to keep your money, such as the Ledger Nano or My EOS Wallet.
Because EOS is so popular among gamblers, several casinos will link their platforms with in-browser EOS wallets to ease transactions.
Are EOS casinos legal?
Like most other crypto casinos, EOS casinos sometimes reside in a legal grey area, particularly in countries where internet gambling is heavily controlled.
So, before playing any online gambling or casino game, it is critical to check your local gambling laws and regulations to ensure you are legally permitted to bet.
Most premium casinos will geo-block players from prohibited areas, but it's always a good idea to conduct your research beforehand. Gambling Dapps, regardless of nationality, are frequently more adaptable and allow players from all around the world.
Deposits and Withdrawals
Most EOS casinos make it very simple to transfer EOS tokens.
Because many of them are already connected with popular EOS wallets, all you have to do to make a deposit is connect your wallet, choose the receiver account or the casino's deposit address, choose the token symbol and amount, and confirm. Transactions are instant, allowing you to begin gaming immediately.
Most EOS-accepting gambling dApps let you pay and play without disclosing personal information, ensuring your anonymity when gambling online. However, you may be forced to go through a KYC check in other online casinos to prove your identity.
Most licensed casinos demand this identification verification to comply with gaming legislation. While it may be reasonably obtrusive at specific companies, we've found that casinos embracing EOS strive to be as accessible as possible regarding online payments.
Withdrawals can also be done in the same manner. But, again, because you won't have to wait for miners to process and validate your transaction, you'll have your funds in minutes rather than hours.
EOS casinos - Licensing and Security
There is an essential distinction between EOS casinos and EOS gambling sites to assist you in picking where to play.
EOS casinos are few and far between. Instead, these are private, licensed operators, most usually found in Curaçao, which provide a variety of casino games such as dice, blackjack, baccarat, and sports betting.
On the other hand, EOS gambling sites are decentralised gaming platforms mainly constructed on the EOS blockchain. Therefore, the fact that a single private organization does not control them might have advantages and disadvantages.
One of the most significant advantages is that they provide provably fair games and transparent procedures for determining winners. Many of these EOS gaming websites will have dedicated areas where they explain their software and let anybody run it to ensure its fairness.
The usage of the blockchain itself, as well as RNG technology, seed numbers, unique IDs that correlate to player bets, private keys, signatures, and smart contracts, are some instruments for ensuring fairness.
Choosing the right EOS casino
You must ensure that you only select reputable EOS casinos. While there can never be any guarantees about the legality of your chosen site, there are a few things you should keep an eye out for before joining. This focuses not just on trust but also on the gaming suite, anonymity, and payments.
Here are four essential factors to consider before selecting an EOS casino.
What reputation does the EOS casino have?
First and foremost, determine when the EOS casino was launched. The older the platform, the more established its track record should be. Next, search the public domain for any potential red flags regarding the EOS casino.
If you need help locating the information you're searching for, consider posting on Reddit. You can ask whether any forum members have used the EOS casino.
Does the EOS casino offer instant payments?
If you choose an EOS casino over a typical fiat gaming site, you will want to be sure that you can make quick deposits and withdrawals. All of the EOS gambling sites we've listed provide fast withdrawals, which is a huge benefit. However, the withdrawal should be completed autonomously, meaning the platform should not be required to transfer the monies manually.
Will the EOS casino allow you to gamble anonymously?
As with any other online casino, you can expect your selected EOS gaming site to provide anonymous accounts. This implies that you will not be required to give any personal information, nor will the casino request any identification papers.
Instead, when registering an account, you will simply need to enter an email address (for forgotten login credentials or correspondence).
Does the EOS casino offer my favorite casino game?
The final thing you should ask of your preferred EOS casino is whether or not the platform supports your preferred casino game type. Your game selection will be restricted regardless of platform, so you should look over the gaming suite before joining.
Which games work with EOS tokens?
Leading crypto-centric casinos in the industry would often provide thousands of casino games and a full-fledged sports betting facility. However, EOS gambling sites are far more limited in their offerings.
This is either because they need to develop more agreements with software vendors working in the fiat area or because they build their own games in-house. Nonetheless, the business is large enough for you to pick your chosen casino game.
With that said, take a look at the list of games now accessible at EOS casinos.
Table games include popular casino games like blackjack, roulette, and baccarat. The rules stay the same in the offline version. However, you'll be using virtual chips.
You will also be able to play a few variants of your favorite table game. At a few of EOS casinos, for example, you can play both European and American blackjack, as well as a variety of other blackjack variants. Some versions have lower house edges than others, so verify before you play.
A top EOS casino will provide you with the authentic experience of playing with live dealers from your home. The underlying software developer will create real-world tables and stream the dealer to your screen through an HD video feed.
If you wanted to play live blackjack, the dealer would deal the cards right before you. Then, when it is your turn to make a choice, the dealer will take immediate action (for example, hit, stick, double down, etc.).
If online slots are your thing, most EOS casinos feature a decent slots selection. This includes simple slots with only three reels and one pay line and highly dynamic slot games with tons of in-game bonuses.
On the other hand, an EOS casino does not provide a progressive jackpot game. As a result, if you want to go for a life-changing victory, you'll need to visit another crypto-centric casino that accepts popular currencies like Bitcoin or Ethereum. Notable examples are FortuneJack and 1xbit.
If you enjoy video poker, you're in luck because a handful of EOS casino sites provide it. In addition, you will have access to various video poker games, including Three Card Poker, Multihand Double Poker, and Caribbean Poker.
Not only is video poker one of the simplest casino games to learn, but it also offers one of the lowest house edges. Furthermore, video poker suits various budgets because you may set your stake before playing.
EOS dice games have the potential to be the most popular. Whichever of our four suggested EOS casino sites you choose; you can play dice. If you've never played before, the rules are really straightforward. Assume you have a dice with a range of 1-100.
You must first determine the mid-point before rolling the dice. You should choose 50 for simplicity. As a result, you must predict whether the dice will land on a number more or less than 50. When the mid-point is changed, the odds on offer alter appropriately. This means you can customize your betting parameters to your liking.
You may play lottery games if you join an EOS casino site like Luckygames. In the same manner that an offline lottery like MegaMillions or EuroMillions works, you must purchase a ticket and try to match as many numbers as possible. But, of course, you win more if you reach more numbers!
Within its lottery sector, Luckygames, in particular, runs a daily jackpot game. Every ticket purchased contributes to the jackpot pool, which grows until it is won. You have accomplished this achievement when you match all five digits on your ticket! Furthermore, the results are created by Provably Fair, so you may be sure that the lottery is entirely fair.
Regarding sports betting, you may wager on prominent sports such as soccer, basketball, tennis, rugby, cricket, and baseball. Although the number of markets available is significantly lower than that of FortuneJack, SportBet is still somewhat comprehensive.
Pros and Cons of using an EOS casino
- Hundreds of gaming dApps have been released on the EOS blockchain.
- EOS casinos provide quick deposits and withdrawals.
- Software that is verified and decentralized.
- Fee-free transactions.
- They host games that can be proven to be fair (dice, lottery, poker, blackjack).
- EOS is a reliable blockchain with enhanced scalability, performance, and security.
- There are only a few EOS casinos to pick from.
- Many EOS casinos need more games from well-known vendors (NetEnt, Novomatic).
- Some EOS gaming websites are not licensed.
- The price of EOS tokens fluctuates.
Summary - is it worth playing at an EOS casino?
EOS casinos clearly have some unique benefits that are difficult to obtain elsewhere, such as rapid transactions with no fees, dozens of provably fair games with a minimal house edge, and hundreds of dApps to browse through.
One of the few drawbacks we can see is that the number of EOS casinos is restricted, which means you will have fewer alternatives and will have a more difficult time selecting the proper platform or game offer for your preferences.
Furthermore, because EOS is not a stablecoin, its value can fluctuate dramatically with market movements - this implies that if you retain your gaming cash in EOS at all times, your balance can both climb and fall suddenly.