KoinSwap: A revolutionary blockchain gambling protocol
Blockchain technology has transformed the way finance works since the launch of bitcoin over a decade ago.
New concepts have emerged over time, and the blockchain industry has grown significantly.
Online gambling is an area where blockchain technology has potential, and an innovative project KoinSwap intends to be the frontrunner in this sector.
KoinSwap integrates online gambling with popular crypto concepts like yield farming to provide users a comprehensive blockchain gaming experience.
Transforming the online gambling industry
KoinSwap focuses on decentralizing the online gambling sector by introducing a transparent and fair ecosystem.
Most online casinos use unfair practices like limiting gamers’ accounts following successful betting streaks and placing limits on winnings that can be withdrawn.
KoinSwap is built on blockchain and utilizes smart contracts deployed to ensure that the entire gaming process goes on smoothly.
Therefore gamers can play games with the security that funds will not be frozen or accounts closed with no valid reasons.
The blockchain protocol also caters to game developers by providing an easy way to create gambling games without the current restrictions of the gaming industry.
For example, there is little information online on creating popular gambling games like slot games, getting them certified, and publishing them.
This is largely due to the monopoly of the online gambling scene by a few casino operators limiting innovations. KoinSwap changes this with its innovative proof of concept and documentation that details the entire process from creation, auditing, and publishing games.
Furthermore, KoinSwap has partnered with leading auditing company CertiK to create an innovative auditing engine that ensures games get audited automatically and at a lower fee than what is obtainable in the market.
This measure will ensure that new games are created within the gambling industry and position KoinSwap as a leading decentralized gaming platform.
Unique earning opportunities
KoinSwap also integrates different earning mechanisms to incentivize gamers, developers and ensure that its community grows exponentially.
For example, traditional casinos have what is called the casino edge. The casino edge is the percentage of profit assured to a casino operator for every game played.
The casino edge ranges depending on the game, and KoinSwap estimates that it would be between 4% to 6%.
KoinSwap shares the profit in a fair distribution way that has been deployed within its smart contract.
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