Crypto Casinos vs. Blockchain Casinos: Fairspin Attempt to Challenge Online Casinos with TruePlay
With the invention of cryptocurrency, we witnessed the emergence of crypto casinos. However, as a general rule, they didn’t give anything else but payment anonymity. And still, there was no way to check the honesty of such casinos.
The problem was solved by DApps that allowed gamers to check the fairness of gaming sessions and smart contracts. Yet DApps have one key disadvantage – the games are too simple, insipid and there are only a few versions of gameplay.
The choice between one and another online casino is a matter of trust. In general, you can read on the website of a casino how many players have already won, which was the highest prize or what percentage of RTP of a particular slot machine, but, usually, there is no concrete way to verify these numbers.
What is Fairspin?
Thus you can always check the games and know in which ones will people win or lose more often, and which games give you only 70-80% of the winnings.
All bets, payments, bonuses, balance, probabilities, number of participants – all game statistics are recorded on the blockchain without hiding.
What gives the blockchain technology to a simple player? If a player wins, he can be sure that the casino will pay him, as the casino balance is recorded on the blockchain as well as the payout history.
TruePlay eliminates any form of hacking or changing the results. A smart contract guarantees the payout percentage, and it is impossible to fake game results. The balance of the casino is checked on the blockchain; therefore, the payout of winnings is guaranteed.
As part of the TruePlay platform, TrueSign blockchain module allows each spin to be verified. The module can be integrated by game developers or regulators. It prevents the casino from changing game data. The major game provider Spinomenal and one of the oldest gaming regulators eGaming Curacao have already integrated TruePlay’s solution. It means that winnings and losses data will come to hand directly from the regulator and/or provider which excludes any possible interference from the casino.
Players using such technology can benefit from faster, instant, and safer deposits. Information about the player’s transactions is stored on the blockchain in encrypted form, and only the player has access to the crypto wallet.
Technology and Innovation
The casino guarantees instant replenishment of the account and quick withdrawal of funds. Currently, the platform accepts cryptocurrencies (Bitcoin, Ethereum, Cardano, DASH) and fiat (Visa and MasterCard payments).
When registering at Fairspin casino, players automatically get access to TruePlay (TPLAY) Wallet. All the deposits are converted automatically into TPLAY tokens regardless of the currency in which the balance is replenished. When withdrawing your winnings the tokens are converted into the currency in which deposits were done. Everything goes automatically so that the customers don’t have to make any additional steps.
TruePlay Wallet is used to verify the user, which includes the provision of personal data, identification, a selfie with a document, and address confirmation. It guarantees the safety of deposited funds. And users need to complete the KYC process only to request a withdrawal of funds.
TruePlay Wallet acts as a single platform for such projects. In the future, when the technology of the TruePlay platform will be used in the other projects, players won’t have to create another wallet the team from the Fairspin is working to eliminate the registration on partner sites.
Games and Game Providers
Fairspin administration assures that work on expanding the game assortment does not stop, so shortly, we can expect to replenish the already extensive game library with games from other providers. However, the most important thing here is all these classic online games are being fully transparent for Fairspin players with every transaction recorded in blockchain.
Another great thing is that Fairspin shows the actual winning rate of every game. The math is simple. The platform considers the sum of all winnings and all losses and get the percentage of winnings for each game. This way players can check with the biggest winnings or biggest bets.
The casino is new, and it has an ambitious goal. So, it would be strange to expect from the service fraud or disregard for the protection of personal data and players’ funds. Fairspin demonstrates the game in a big way and is not involved in trading contacts, nor sending viruses, or covertly collecting information.
Games are available without installing additional applications for the browser on a PC and without other software for mobile devices. The casino supports the most common browsers – Google Chrome, Opera, Firefox.
Currently, Fairspin supports 8 languages. Also, they work under the license of eGaming Curacao, and Fairspin has a list of countries that are not accepted on the website. You can find more information in the Terms section.
The team of Fairspin tried to create a site that would meet the needs of the modern user. The platform is multilingual; the support service is working around the clock and communicates with users in various languages. Communication is available on different channels, email, WhatsApp, Telegram, Facebook.
The casino is more suitable for those who are already familiar with cryptocurrencies. Still, the abundance of useful and understandable reference material on the site, as well as round-the-clock technical support will help even a beginner to understand the platform.