What are the origins of provably fair technology in gambling? - page 4.

Odusko

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Leading Crypto Sports Betting & Casino Platform

Quote from: Hispo on February 04, 2023, 03:28:24 PM

As far I know, provably fair technology in crypto gambling is simply the application of cryptography/hash functions onto an specific market or purpose, so one can verify the gambling results in a trust-less way. The theory behind it is not actually new.

I am not sure what the first platform that started this trend was, though.

You nailed it mate and just to add a few things to what you already said, probably fair systems may not.be peculiar to cryptocurrency gambling alon and game harsh verifications may be fair from what a provably fair system is in practice.
I may be wrong anyway but that is my own understanding of what probably fair is in gambling.
And I am also sure that, other none cryptocurrency casinos also have ways to verify their transaction using the bet id to get players to bet histories.

seoincorporation

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Provably fair on crypto gambling is the right way to get the trust of the users. And most of the gambling sites have the same provably fair engine or at least the same logic.

For this we need cryptography, the sites have a server seed and the users have a seed too, in most of the sites users can modify the user seed, that way they can trust that the game hasn't been rigged, so, the server mix the server seed with the user seed, and from there comes to the bet result. That's how it works and that's why we should trust those provably fair engines.

Hispo

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Leading Crypto Sports Betting & Casino Platform

As far I know, provably fair technology in crypto gambling is simply the application of cryptography/hash functions onto an specific market or purpose, so one can verify the gambling results in a trust-less way. The theory behind it is not actually new.

I am not sure what the first platform that started this trend was, though.

SeeBiscuit

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Twenty One Million

Hello everyone.

My first experience with cryptocurrency was with a popular bitcoin faucet known as freebitco.in.

A trusted site for years at this point, they utilize many forms of authentication technology, provable mechanics in all their games (not just the multiply game but on dplay and stuff too), and they are one of if not the largest distributors of free digital gold in the world.

They have a great business model too, especially if it has been running for the amount of time it has.

My question is, does provably fair technology exists specifically because of crypto gambling or is it something else?

Thank you so much for answering <3 everyone, I learned a lot Cheesy

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