Overview of Ethereum
Ethereum has allowed developers the opportunity to build decentralized applications using the fundamental tools provided by Ethereum smart contracts. Much like Bitcoin; Ethereums fundamental properties consist of a distributed public blockchain network which has no central authority. Unlike Bitcoin the purpose of this blockchain was to run the programming code of any decentralized application. Much like other cryptocurrencies the authorization of each Ether token is provided by the blockchain; which acts as a continuous list of records known as blocks secured through cryptography. Fundamentally the blockchain is resistant to any form of data modification to prevent the ledger from being tampered with or hacked. Much like Bitcoins verification process; the Ether network operates using accounts and balances called state transitions. With a hash rate of around 14 seconds the transaction fees that align with Ethereum are much less than that of Bitcoin.
Advantages of Ethereum
On account of the block time set in Ethereum, and the way that it utilizes Ghost protocol, it provides that the exchange time is a whole lot faster than it is with Bitcoins. There is greater adaptability with Ethereum also because of the Turing complete internal code, which implies that anything can be computed as long as there is sufficient power and time. This is impossible with Bitcoins.
There are significantly more restrictions with Bitcoins. They utilize a totally unique technique for costing exchanges, which contend similarly with each other. This is restricted by the block size, though, Ethereum transactions rely upon their computational multifaceted nature, bandwidth and storage capacity needs. All of this new technology provides bettors with some truly unique options on Ethereum esports betting sites.
Smart Contracts
A smart contract is a phrase used to better describe a computer code that can securely aggregate the exchange of money, content, property, shares, or anything of value. Much like Bitcoins blockchain a smart contract built on-top of the Ethereum network acts like a self operating computer which automatically executes when requirements are met. Because smart contracts use blockchain technology, they run exactly as programmed leaving out any possibility of being tampered with, influenced by central authority, downtime, fraud, or hacks.
Bet on Esports using ETHEREUM
Following the great population of Bitcoin and Litcoin, Ethereum (ETH) is also growing at a super-sonic speed. It is similar to the other cryptocurrencies, having the same kind of nature – Open Source. However as Ethereum comes with smart contract functionality, Ethereum is considered superior to Bitcoin and many other cryptos.
The online sports betting industry has been booming recently and is expected to grow to $696 million (£525 million) by the end of 2020, which is going to be over 40% rise noticed in past few years. And with the introduction of cryptocurrency in the eSports betting, it becomes easier, faster and safer for the global gamblers to multiply their investments in the cryptocurrency.
Ethereum (ETH) Gambling
Ethereum is becoming a massive hit among the global people enjoying their passion in Ethereum eSports betting, allowing online gamblers and casinos to make all types of transactions easily without any taxes and central authorities. The most common reason behind the popularity og Ethereum as a leading betting currency is that its financial system is grounded on a decentralized and programmable platform. It uses the very famous smart contracts, making efficient economy organization system for online gambling and eSports websites with all the transactions being made in the system itself.
The Ethereum is growing even faster than the Bitcoin and almost all types of platforms are accenting it for buying and selling purposes. Experts claim that the cryptocurrency might completely revolutionize the crypto currency concept and its usage in gambling.
Top Ethereum Esports Betting Websites
Whether you like poker, slots, blackjack, craps, baccarat or any other online casino game, everything is fun with Ethereum betting as it offers more than 400 games from the most trusted developers. The top online gambling websites are widely using Ethereum and other cryptos as payment in order to provide a protected gambling environment.
Betcoin
This is an ambitious crypto-based gambling website, making it big on the international marketplace. This is the only website with a sportsbook, a poker room, a casino including live casino and a dice game. The players enjoy 24/7/365 responsive customer care with a wide range of games to choose from. The platform offers an opportunity for players to enjoy Etherium betting anonymously. And also, there is option available of live Ethereum esports games such as LoL, CSGO, Dota 2, Hearthstone, PUBG, and Fortnite.
Benefits:
- Eager to with players on disputes
- Better than average betting limits
- Huge deposit bonus
- Personal forum page for discussions
- VIP programs or special players
- Cryptogames
Another leading platform to enjoy your passion to bet using Ethereum is Crypto-games.net, launched in 2014, that is enjoying great popularity among the global players. The platform offers all games that are provably-fair, making it the right choice for armature as well as experts. No need to register for playing and it also allows you to try its perfect collection of Ether Slots. You can win up to 100 ETH with the best five reels slots.
Benefits:
- Supports Ethereum
- All provably fair games
- No registration needed
- Huge benefits for new joiners
- Wide range of games available
Buff88
The Betway is one of the top esports bet sites in the world. Although it accepts all types of cryptos, but is simply an amazing experience with Ethereum betting. The Buff88 offers very lucrative joining bonus for Ethereum deposits. You have option to bet using Ethereum on multiple games like LoL, Rocket League, Fortnite, CSGO and Dota 2.
Benefits:
- Accepts a variety of cryptocurrencies
- Holds Certificate of Trust
- Huge welcome and deposit bonuses
- Different gaming options
How Does Ethereum Work for Betting?
If you have ever used any other cryptocurrency for online betting, then you may be familiar with the process as the process for similar Etherium eSports betting is the same as using Bitcoins and Litecoins. The process includes:
Register yourself on the eSports gambling website
Get your own unique ETH address
Deposit ETH to the gaming website, choose the game and start enjoying the gambling online
Whenever required, you have the option to withdraw. You simply need to paste your ETH wallet address in the Etherium betting website’s cashier section and select the amount you’d like to withdraw. The money will be deposited to your account.
Common Types of Ethereum Gambling
Esports
One of the most common types for Ethereum gambling is eSports, where you can use your digital currency to gamble all types of eSports events. With Etherium eSports betting, you have option to enjoy betting with a wide range of fighting games, FPS games, RTS games, Racing, Sports games, MOBA games, and many other games. You need to select the game from calendar of upcoming events and deposit the amount to enjoy bet using Ethereum.
Casino
Online casinos have been quite popular at the global level and with the introduction of cryptocurrency, it’s growing even faster. Most online casinos ahve started accepting Etherium for betting, offering the fullest variety of its games for ETH gamblers. The online esports sites offer a wide range of options for Ethereum betting for games like League of Legends, Dota 2, Rocket League, NBA 2K League, and CS:GO. The process of making bets is also the same.
Forex Trading
Have you been involved with Forex trading? If yes, then you can understand the process as it’s the same like what it was before. Forex accepts Ethers day-and-night and most online money brokers have praised all the benefits of the new cryptocurrency quickly, making it the right choice to bet using Ethereum. The process is same as trading other traditional or digital currencies.
Advantages of Ethereum Betting
- Gambling with Ethereum is faster than other payout methods available online.
- Enjoy better security with more anonymity and security than exposing your credit cards.
- Ethereum eSports betting is more cost-effective compared to other methods.
- Etherum is a decentralized platform.
- Ethereum platform for gambling has a clear vision for future.
- Fast and simple registration of ETH wallet.
More Reading
- CryptoComapre; Ethereum
- Ethdocs; History of Ethereum
- Mining; History of Ethereum: How it’s set to overtake Bitcoin by 2018
- Bezinga; The History of Ethereum, In One Infographic
- The Times Of Ethereum; The Times Of Ethereum
- Medium; The Complete Story of Ethereum So Far
- The Cointelegraph; A Brief History of Ethereum From Vitalik Buterin’s Idea To Release
- Block Geeks; What is Ethereum? A Step-by-Step Beginners Guide
- Coindesk; What is Ethereum
- Quora; What is Ethereum and how is it different from Bitcoin?
- CryptoCompare; Why is Ethereum different to Bitcoin?
- Quora; What are the advantages of Ethereum over Bitcoin?
