Online slots are probably the most-played part of the online casino because they all rely so heavily on a little thing called good luck. The flashing lights, the thrill of the spin, the hope that the next button could be your ticket to the jackpot winning – they’re tantalizing, so it’s no wonder that millions of people across the globe flock to the online casino in their free time. But regardless of whether you’re a longstanding casino lover, or looking to jump into this wild world for the first time, there’s always a little thought in our minds, wondering if these games are “actually fair?” Newsflash – they are, and you’ll often have a little piece of technology called blockchain to thank for that.
Online gaming has had a mighty makeover ever since the evolution of blockchain technology, and it’s upgraded the way millions of players play globally. How?
Provably fair gaming. This is where transparency and fairness create a new level of security online. But what exactly is it?
In this blog, we’re going to take a deep dive into the rise of provably fair gaming and how technology has allowed the casino industry to verify the fairness of its games for all users.
What is Provably Fair Gaming?
To sum it up, provably fair gaming uses blockchain to let players see for themselves that every spin is truly random and never rigged. At any point in a game, a player can look back at the chain to confirm the result of every past game and check that the outcome was truly random.
This has had a huge impact. Many online casinos offering games like slots in Canada have put blockchain and security at the forefront of their setup. In the past, traditional casinos held all the cards and players just had to rely on their reputation to verify that a game was genuinely random. Now, however, each time you play a round of slots in Canada or anywhere else, the cryptographic algorithms running in the background ensure that the results are completely fair.
Of course, it’s not just about blockchain. There’s quite a lot going on in this space, including:
- Random Number Generation (RNG): The different results you see during a game are all thanks to this handy piece of tech. Furthermore, instead of some mystery algorithm behind the scenes, blockchain slots use a public, verifiable method to record every single outcome.
- Hashing and Seed Verification: Before you spin, a one-way cryptographic hash is created, locking in the results before the game begins. This outcome cannot be tampered with, but it’s also encrypted to prevent anyone from knowing the results ahead of time. Still, once the game is over, you and anyone else who wants to check the blockchain can verify that the outcome does tally with that hash.
- Transparency at every level: Every single spin or button click is recorded on the blockchain, which means the player can check the data and see for themselves that it wasn’t rigged.
Why Blockchain is Important for Online Slot Companies
Why Blockchain is Important for Online Slot CompaniesBlockchain may be leading the charge in the financial sector, but trust us when we say it’s the reason behind the fortified security at online casinos. Here are a few of the reasons we’re obsessed with casinos using blockchain.
1. No more trust issues
We’ve already touched on this, but it merits a good dose of attention: ultimately, the blockchain lets you trust the casino you’re playing at. Those who grew up in the era of the arcade may feel wary of digital versions – but with blockchain, every spin’s outcome is verifiable, meaning you can always check the math and make sure you got a fair shake. No rigging allowed – just true, verifiable results that always have your best interest at heart.
2. Safer and more private
Privacy is super important when you’re using the internet for financial reasons or exchanging your data. Have you ever worried about sharing these important details online? Haven’t we all! Blockchain casinos allow you to deposit and withdraw funds using your cryptocurrency wallet – and this lets you enjoy better anonymity. Plus, the blockchain is notoriously hard to hack… meaning this is possibly the safest kind of payment you’ll ever experience.
3. Fast and low cost
Before blockchain, you would often have to wait days, even weeks for your winnings to come through. Not anymore!
Crypto-powered casinos now provide almost instant payouts with much lower fees. Traditional banks are not involved in these types of transactions, which means the traditional banking fees and their processes are now redundant. Less time waiting and more time playing? Sounds like a win to us.
But – There is Still Work to Do
Yes, we can shout from the rooftops that blockchain has made online casinos the best they have ever been – but there will always be work to be done. There are a few little things that are holding us back still, although we suspect these will be ironed out with time. Here are a couple of the existing drawbacks we face:
- Scalability Issues: High transaction volumes can sometimes slow things down or increase costs.
- Player Learning Curve: Not everyone is familiar with blockchain technology, so adoption might take some time for the wider market, and at the moment, it still remains arguably “niche.”
So, are you ready to take control of your gaming experience? The future of online slots is looking brighter AND fairer than ever, and this is all thanks to technology and its advances continually pushing things forward. Where will we be in 10 years? It can only get safer and more evolved as we continually grow.
