It’s common knowledge that the decentralized technology of blockchain networks serves as a basis for different gambling applications and online casinos. Operators have started integrating blockchain due to its various benefits, such as security and transparency. One blockchain network that provides smart contracts for gambling DApp development is IOST. Let’s analyze the IOST technology and look at some gambling applications based on it.
What is IOST Blockchain?
IOST is a well-known blockchain network that is based on the next-generation consensus algorithm “Proof of Believability” (PoB). The aim of the network founders is to provide the underlying architecture for online services, which is why it is called the Internet of Services platform.
The network guarantees security, decentralization, and self-governance. Apart from that, it provides an opportunity to earn rewards within the ecosystem.
Today, the network already has 170 smart contracts registered and 296 IOST nodes supporting the ecosystem.
The coin IOST, or IOSToken, is an ERC-20 token available in all crypto wallets and exchanges that support the ERC-20 token standard.
As of July 2019, the IOST price is $0.012299, and the market cap is almost $148 billion.
Use in Gambling - IOST DApps
Like many other blockchain networks, IOST serves as a base for gambling DApps. Here is an overview of the most popular IOST-based decentralized applications for gambling.
1. Endless Game IOST
This is a profit-sharing gambling platform that offers casino games such as poker and dice.
The platform’s players are granted Endless Tokens as their “proof-of-play”. For instance, in the game called Endless Dice, players get dividends in iet (universal game tokens) simply by playing and wagering IOST, as the game shares 40% of the daily profit with all token holders. What is more, if players invite friends to the game, they get rewards as well.
Traffic: 1.6k users daily
Daily volume: $16.8k
IOSTPlay is an advanced gambling platform with games such as Dice, Limbo, and Ring. It aims to provide transparent and enjoyable technology and allows gamblers to earn iPLAY tokens.
Traffic: 1.2k users daily
Daily volume: $100.8k
3. IOST Vegas
This IOST-based online casino offers Dice, Roulette, IOST Spin, and some other games. The platform allows players to earn ICOINs by playing and wagering - the more players risk, the more they receive. These ICOINs may be traded on official crypto exchanges, or stored in the gaming platform, allowing players to receive IOST from the daily dividends.
IOST has become a trusted blockchain network that provides possibilities to make Internet services, including online gambling platforms, more reliable and secure.