Zerocoin - Standard Crypto Currency for Online Gambling

Zerocoin Aims To Become A Standard Crypto Currency For Online Gambling

There appears to be a surprising surge of ICOs from the gaming space, and Zero Edge has captured our attention. It intends to make a cryptocurrency for your internet gaming space plus they’ve an ICO coming up. Zero Edge is a decentralized online casino plus also an open protocol that intends to provide players 0 percent house advantage casino games, fee-less sports gambling and also an open source platform for creating internet games.

Zero Edge will probably be producing their own token termed Zerocoin that’s an essential part of their business model. Adrian Casey, CEO of ZeroEdge, states:

The Zero Edge Casino model is based on Metcalfe’s law and factual Bitcoin price growth. Casino players, i.e. Zerocoin holders will not only be able to play 0% house edge games, which offer a truly equal odds of winning against the house but will also see their Zerocoin value increase as a result of increased demand and adoption of the token.

The blockchain use case for Zero Edge is mostly in supplying decentralized trust. All matches will be authorised on the Ethereum blockchain without unwanted results on user experience throughout the game session. What’s more, Zero Edge Casino is going to have a complicated and audited random number generator (RGN) mechanism to guarantee absolute randomness of its matches.

The Need

Casey considers that the most important issue with the internet gaming industry today is the fact that it’s a purely profit-driven firm with marginal consideration for impacts of its own practices.

He notes:

The simple solution to the problem is creating a platform where playing games is ‘free’. Players are not required to pay any fixed amount of money to be able to play at the casino. This can only be achieved by creating a closed loop economy with its own token where players purchase the token with fiat or crypto. Since the supply of ZERO is limited, its value is directly proportional to demand.

Why is Zero Edge stand out from its rivals is that its business model is dependent on its own token’s value increase in place of the cash flow generated by casino games.

The Team and Product

The group in Zero Edge is lead by a CEO who’s spent years with just two of their largest names in the gambling sector, namely William Hill and Centrebet. Casey is supplemented with a fantastic technology and marketing group, a lot of whom have had previous experiences in the gambling industry.

The advisory staff is dominated by legal specialists, professionals at the gambling industry, along with other entrepreneurs at the blockchain and cryptocurrency area. A fantastic point to notice here is that while there are not some mainstream big names on the group or advisory board, preliminary LinkedIn affirmation indicates an extremely concentrated emphasis on the gambling industry.

So far as the product goes, you can have a look at a few of the games from the casino segment on their site, with a few other verticals like sports gambling, remain under construction.

Our Take

Gambling has been part of human life before history. The first six-sided dice date to approximately 3000 BC in Mesopotamia. This has translated into a huge gaming sector in the present day and age, in which the global online gaming market was $37.91 billion USD at 2015 and is projected to achieve 59.79 billion USD by 2020, at a CAGR of 9.5%.

The simple fact that they have a functioning product is especially reassuring. There’s also a fantastic incentive for traders. The business is going to start its first token sale (pre-ICO) in February, at that time the people will be given the chance to buy a limited source of Zerocoins to get a discounted price.

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