Categories: CryptoNews

Power to The People: Introducing VIABET a Revolution in Blockchain Gaming as We Know It

It’s well known in gambling that ‘the house always wins’ – but what if that wasn’t the case? A new online gambling platform is soon to be launched that allows users to ‘become’ the casino.

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Another upcoming ICO is off to a solid start. The VIABET ICO pre-sale has raised USD 257,289, in just 24 hours and reached its soft-target in the process. While the pre-sale is now over, the public crowdsale is currently live giving its supporters another chance to get in on the profit that VIABET’s future growth will generate. VIABET, a decentralized online casino, is a twist on a betting platform and game-developer site and it’s hoping the sale of its Ethereum-based XVIA tokens will take it the rest of the way.

The XVIA tokens are used on the company’s gambling platform, which serves a dual-purpose of not only facilitating gambling via its cloud betting platform but also giving users the ability to create their own casino games that other users can engage with. In addition to being used on its gaming platform, VIABET is hoping its XVIA tokens will become a store of value and it’s planning to ensure this by reportedly reducing its overall token supply from 70 million to just 7 million.

Power to the people

With games ranging from roulette to poker and peer-to-peer sports betting, it works on a double token system (DTS). Players must purchase and bet with XVIA tokens (like the chips in a casino). EDGE tokens can also be earned and exchanged, and it’s these that users will also want to get their hands on. Once a player has amassed a certain amount of EDGE tokens, they can become the casino and play against other users – creating their own rules and are given the house odds. Other gaming companies will also be able to set up their own games. While you have to play against VIABET to get these EDGE tokens (that are then spent as you play as the casino), the platform claims this process solves the issue of trust – fairness (the house has a 0% edge) and transparency.

Would you trust the house?

The platform aims to solve the issue of trust – and for that reason, they’re operating on a 0% house edge and offering provable fairness. But there are other ways they’re doing this too, namely – the blockchain. As a complete decentralised ledger of transactions – blockchain offers transparency, security and privacy in a way that other modes of payment don’t have. Transactions are anonymised and, providing users keep their bitcoin locked up safely, offer a security and ease of use that you don’t necessarily get with paying online with a credit card. An excerpt from their white paper says: “We aim to create a new kind of gambling experience. An experience where the user no longer has to feel like he’s at the mercy of the casino provider.” In addition, VIABET is in discussions with major trading platforms for its XVIA token to trade, including Bittrex, Poloniex, HitBTC and others, according to the company’s blog.

With transparency, control and the promise of provable fairness, VIABET seems almost too good to be true for the innovative gambler – but it sounds like it’s worth a gamble.