Online gaming, also known as iGaming, brings traditional casino games online while adding completely new methods of gambling via the likes of Crash. One of the major challenges with these gaming casinos is trust. If the casino is built with code, surely it can be rigged so the house always wins? This where blockchain and cryptocurrencies have been explored to find the solution to online gaming trust.
Blockchain has been used to develop new gaming systems that are 'provably fair', which in the majority of cases means randomness is used to decide the outcome of each game, in a way that is transparent and provable to all users who wish to check. Once a casino can prove it's fair, trust is achieved and players are much more likely to game there. But there are still issues with this setup, where every casino needs to take money - via payment processors - pay out winnings to players and bank house winnings. Fees, speed and compliance are huge challenges to the industry, even if Blockchain can provide a better trust experience, which is where crypto gaming tokens come in.
Moving finances around the gaming industry is expensive, slow and full of compliance - often for all parties involved including banks and card providers. Cryptocurrencies have long been seen as a more suitable alternative to fiat currencies, where with the right technology, tokens, KYC/AML and staking can happen quicker, cheaper and more securely than is possible in the industry right now. There are other advantages too, where cryptocurrency wallets enable the exchange of tokens between the house and the player without the need of an intermediary and without the need to pre-load finances into the casino. Pay to play or instant staking on games has advantages for both parties that make crypto gaming tokens an exciting opportunity for the industry.
We've listed some of the top gaming tokens below to help with your online gaming experience.