Fatum Blockchain Gambling

You may have heard that reputable casinos have no reason to cheat and every reason not to, but even still, there are instances of so-called reputable casinos that have done just that.

Gamblers are often left with a feeling that something just isn’t right, and although these feelings can be dismissed as the complaints of ‘sore losers’ there is good reason to believe there is a lot more to it. In 2007 one of the biggest scandals to ever hit the casino industry broke when it was revealed that some players on Ultimate Bet had superuser privileges and could view the hole cards of other poker players. Worse still, many of these superusers with ‘God Mode’ privileges included the site owners themselves, who had used these accounts to steal up to $50 million from the pockets of honest players.

The Difference With Fatum

Unlike online casinos, Fatum provides for public fairness verifications enabled by blockchain technology. Since the blockchain is immutable it can never be modified and manipulation of the record is impossible. So how does it work? Imagine you choose to play any game of chance against the casino or another player. In this instance we’ll use a card game as an example. The casino mixes the card deck and creates a public record of every card’s position in the deck. With a regular casino this record is hidden to most players, but it is still in a potentially visible state, which means that it is possible for players in a God Mode to view the cards and gain an advantage.

With Fatum the record is not in a visible state as it is encrypted on the blockchain. Changing the record is also impossible due to the append-only nature of the technology. The players can then enjoy a game safe in the knowledge that the competition is truly fair. The game can also be checked once all bets are made and the game finished. After the game the casino provides the encryption keys for the deck and the record can be decrypted. The gaming record can then be compared to the pre-generated deck allowing everyone to establish that the game was honest.

Why Does This Ensure Fairness?

Gamblers are very astute, knowledgeable and good at finding cheats. In fact, it is probably true to say that nobody is better at identifying cheats than gamblers themselves. In 2003 a player named 'CrazyMarco' suspected something was wrong after playing a tournament at Absolute Poker. He emailed customer support and asked to see the hand history from the tournament. When Absolute Poker sent CrazyMarco the hand history (including hole cards) he was able to identify irregular betting patterns from a player named ‘Potripper’ and so the cheating was discovered.

By creating a system where transparency of information is hardwired into the project, cheating of the sort which occured at Absolute Poker and Ultimate Bet cannot go undetected. Cheating ruins gambling both for players and for the industry as a whole. That’s why Fatum is determined to eliminate the possibility of cheating altogether. Fatum is a truly modern solution which uses cryptography, decentralization and blockchain technology to ensure that gambling is truly fair and transparent, exactly as it should be.

Disclaimer. This press release is paid and provided by a third-party source. This press release is for informational purposes only and should not be viewed as an endorsement by CoinIdol. We take no responsibility and give no guarantees, warranties or representations, implied or otherwise, for the content or accuracy. Readers should do their own research before investing funds in any company.