WoW Project Edgeless Casino another gaming token
What is the difference and what are the advantages of your tokens, and tokens vDice?
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Yes
Ethereum Smart Contracts can be a total game changer for a whole gambling industry, therefore so many projects are raising in this area. Seeing this potential from our first project: etherslots.win we decided to create more powerful.
A short comparison table of Edgeless and vDice.
vDice - fully transparent diceit's a first ethereum dice. Concept is pretty much similar to any dice casino, however it's using Ethereum Smart Contracts which makes a game fully transparent - that's a game changer. However ethereum blockchain does not have required transaction speeds for gambling dapp - it takes 1 - 2 minutes for vDice to generate a random number and decide a winner. From user experience, its really bad (hopefully ethereum blockchain will improve and transactions are going to be faster) and for now there is no way to scale a business, compete with bitcoin/ fiat casinos. It also offers a profit sharing model which is nice but might lead to legal troubles in the future. Also token has a hard time being accepted to large exchanges. Exchanges do not want to take profit sharing tokens, it's too risky for them from legal point of view.
Edgeless - next generation gambling experienceEdgeless will be on Ethereum Blockchain which guarantees a transparency.
Edgeless offers luck + skill games (Black Jack, Lunar Poker) with a 0% house edge. This is a totally new gambling concept, it's like next generation gambling experience. Idea is not new, people have been discussing it for years. However it was not possible to implement it on fiat running casino - operational costs are too high. Thank's to blockchain, crypto operational costs extremely low in comparison to fiat online casino - it makes possible to run a 0% house edge casino (0% edge luck+skill games profitability is similar to 0.83% edge pure luck game:
https://wizardofodds.com/image/ask-the-wizard/how-poor-are-bj-players.pdfAlso 0% house edge games is a perfect marketing to attract masses of gamblers:
https://medium.com/edgeless/casino-with-0-house-edge-perfect-marketing-strategy-7c1f2d49beb0#.9ufrf25j8Edgeless is using different transparency mechanism (people will not need to wait 2 minutes) which makes casino way much faster and more user-friendly. Therefore we can compete with fiat casinos. More info:
https://medium.com/edgeless/ethereum-blockchain-casinos-are-extremely-slow-solution-aaa2e3e95208#.c38fktdxtEdgeless DOES NOT offer profit sharing token. We are more safe from legal side and our token has way much higher chance to appear on large exchanges.
Our token is backed by a monthly lottery game where EDG tokens can be used win a share (40%) of casino's profit.
I think vDice had a first mover advantage, and while we are not first on Ethereum, we had to learn from vDice mistakes and improve all other areas of our business model. We are aiming to compete with fiat online casinos - because that's where real casino market is!
So, what do you think about our concept?