Online gambling revenues derived from the United States are predicted to reach $4 billion by 2020.
One of the most promising technologies for the online gaming industry in recent years has been the blockchain. Unfortunately, the potential of this technology hasn’t been entirely realised.
Spade is a new decentralised gaming platform that is aiming to change that. One of the problems that they are aiming to address is the problems that on-chain casinos face.
Problems Caused By On-Chain Casinos
The blockchain allows for greater transparency & efficiency gains. Because the blockchain eliminates the needs for many intermediaries it also helps to reduce costs for casinos.
But on-chain casinos are not without their problems. One of the biggest problems is that while they are secure, they aren’t efficient. Everyone who uses popular blockchains like Ethereum has encountered the challenge of slow transactions.
While taking ten minutes to have a transaction confirmed isn’t a problem for all applications, it certainly is when it comes to casinos. Players don’t want to take take ten minutes to see the next flip of the cards in Blackjack. On chain transactions can really ruin gamer experience.
Fees of the Ethereum have also become extremely high. Fees of up to $1 USD, make smaller bets untenable. This is in large part due to Proof-of-Work, which makes scaling challenging.
Spade is built on the Cardano blockchain. This uses Proof-of-Stake protocol, but with the security concerns that are normally associated with POS. This enables Spade to provide tens of thousands of transactions every second, without causing any limitations or constraints on user play. The end result is a seamless experience for the player and a scalable solution for casinos.
In order to get access to the Spade platform applications the user needs to own SPX tokens. These are the native tokens of the Spade platform. SPX tokens will be distributed in an Initial Coin Offering (ICO). You can learn more about SPX ICO by visiting:
Spade Website: https://sp8de.com/
Spade Whitepaper: https://sp8de.com/sp8de_white_paper.pdf