The Xether project announced the launch of the same-name gambling ecosystem. Xether allows you to play in a cryptocurrency casino without registering, having ETH in a web3-compatible wallet or Metamask, as well as receive a steady income.
“For a long time, the Xether team has been looking for a point of contact between modern technology, financial systems and gambling. There are countless good solutions in each of these areas, but they are all independent of each other. We decided to combine the best, in our opinion, ideas in a single product. Taking the smart contracts as a basis, we ensured transparency, provability and independence for our ecosystem. With the help of tokens and the dividend system, we got a powerful independent decentralized financial system that generates profit for the participants , ”says Alexey Mishchenko of CEO Xether .
The company claims that through the use of smart contracts, they have achieved transparency and demonstrable fairness of the drawings. This means that no one can influence the outcome of the game. In addition, the result of the game can be subjected to an independent audit.
“Most gambling projects have no real balance, so the player cannot be sure of winning. Other platforms may have withdrawal limits. In this case, all calculations and the generation of results occur on the server, where these processes are hidden, and their integrity cannot be checked. We allow you to play without registration, do not require deposits and purchases of any internal units, we make all payments and payments in a smart contract. Guaranteed payments are also included in the smart contract , ”says Alexey Mishchenko.
To take part in the game, the user only needs to have ETH. In the casino itself, users will be able to play popular gambling games, such as dice, a one-armed gangster simulator, toss and roulette. The developers claim that they will later add smart contracts for poker and sports betting.
“In the future, we plan to expand our gaming ecosystem by adding other platforms with smart contracts. We are also considering the possibility of connecting third-party services. The most important thing here is that they share our principles of transparency and openness , ”adds Alexey Mishchenko.
You can also purchase casino tokens in Xether, which bring passive income to the owner. It consists of dividends received from the turnover of tokens and commission, which is withheld from the winnings. After the accumulation of a certain amount of commissions, gaming contracts transfer such deductions to the central smart contract. This smart contract distributes commissions between token holders in proportion to their share. Tokens are created upon purchase and burned upon sale. To play in a casino, buying them is optional.
Recall recently that BlockchainJournal released a special project “Fear and Loathing in the Registry: Blockchains in the Online Casino Industry” , which tells how blockchain technologies can avoid fraud in online gambling.
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