After becoming the first blockchain-based casino to acquire a gambling license, EOSBet decentralized application recently announced that it is making two significant developments on its way to mass adoption. The app will now come with Bitcoin betting option along with an innovative user account system.
The Road to Success Begins
EOSBet received an official online gambling license at the end of 2018 and became one of the top-rated EOS dApps in the ecosystem. In 2019, it is moving on to get mass adoption using a new accounts system and a Bitcoin betting option.
Using blockchain technology presents several barriers to entry for the users- like putting up a cryptocurrency wallet account and going through a lengthy process to obtain digital currencies. The EOSBet team is working to develop a new system which will allow users to deposit funds from any source and engage with the application without needing a third-party software or a cryptocurrency wallet. The entire system will also cover the costs for the players which allows them to play as easily on blockchains as traditional centralized one.
A New Account System on EOS
EOSBet’s account system is also decentralized and is an on-chain. All actions on the blockchain will be fully viewable, and users can check any block explorer to view the transactions, which will be etched permanently into the EOS blockchain. The non-custodial system will allow users to retain sole control of their funds.
EOS is trying to make the system more non-technical-gambler friendly. It is providing a two-click sign-up process, which simpler, easier and more intuitive than traditional sites. Because of this advancement, even non-US account holders will be able to bet securely and participate in the player rewards program. In just one month of launch, the system has managed to gain over 280 users who have collectively bet over $1.3 million.
EOSBet is also the first on-chain casino to accept Bitcoin natively. It is also planning to bring more cryptocurrencies in the fore to allow users to bet with a variety of coins. Players can simply deposit BTC into their accounts and play instantly. Other coins which could be added to the mix are- Bitcoin Cash, Ethereum, Bitcoin Satoshi Vision, Litecoin, Dash, Dogecoin, Tron and XRP.
“This development is a significant step forward in the company’s stated goal of bringing thousands of new users to the platform. Bitcoin gambling is a multi-billion-dollar market, with hundreds of BTC bets placed each second on various centralized sites. EOSBet’s provable fairness, full decentralization, and attractive player rewards program offer an enticing reason for players to move to the platform.”