Blockchain technology has changed the way many industries function, bringing improvements and advancements at a rapid pace. Sectors such as health, banking, online finance, supply chain, have all made use of blockchain, as well as online gaming and iGaming.
Blockchain and 5G: What Are they?
Blockchain is a distributed ledger that records unalterable and transparent data, in most cases crypto asset transactions, by using decentralization and cryptographic hashing. The data of these transactions cannot be erased or modified once recorded on the ledger, and it can be viewed by anyone. Transactions are verified and confirmed by the blockchain, removing third-party assistance, thus making the confirmation process faster and at lower costs.
5G is a 5th generation mobile network technology, the successor of 4G technology, aimed at facilitating strong connectivity between individuals and to enable the Internet of Things (IoT) integration at a massive scale. 5G technology comes with improved features compared to its predecessors, such as higher speeds, negligible latency, greater reliability, and larger capacity. It also has a broader range, which allows for a more integrated platform.
Blockchain and 5G Use Cases Crypto Casinos
5G technology is the newest technology to make headlines this year, just like blockchain did when it first started entering the scene. And when these two technologies combine, which is inevitable, the Bitcoin casino market is for a surprise.
Faster Crypto Payments
Crypto casino players have faced some difficulties when it comes to transaction speed with BTC in online casinos. Blockchains such as BTC, which have scalability issues and high traffic, tend to have slower transaction times. 5G can help these complex networks to effectively manage the strain of a bigger traffic load, as it has a higher capacity, speed, and reduced latency. However, blockchain can provide its technology to secure transactions made through mobile banking networks.
If payments are made through cryptos, both the unbanked and underbanked will be able to access and pay for services, including online casinos.
Smart Contract Implementations
By using smart contracts, many decentralized casinos or dApps have already been launched in the gaming and gambling community. But there are still many things that can be improved, and here is where 5G can make a difference. 5G can improve smart contracts by transferring data from oracles much faster and in a much more reliable manner. This would allow blockchain casino games to deliver results faster and increase their accessibility to a larger global network.
The crypto casino sector can see a lot of improvements from the merger of these two emerging technologies – blockchain and 5G.
An online crypto casino that makes use of the benefits of blockchain in order to streamline the gambling and betting experience for its users is 1xBit.
1xBit is a fully anonymous crypto casino that has an impressive array of games, counting over 5000 slots from more than 100 of the most reputable game providers and over 200 live dealers for its dozens of live table games. By using only cryptos for its payments, 1xBit allows players to remain anonymous and fund their multi-currency accounts instantly with more than 20 different crypto assets.
After a simple one-click registration, new users will be able to claim one of the biggest bonuses on 1xBit, which is the 7 Bitcoin welcome bonus. The first four deposits will be rewarded with a percentage of the bonus, with bonuses ranging from 1 to 3 BTC. Recurrent users on the online crypto casino are able to take advantage of a VIP cashback that can go up to 11%, where you get more cash back from your bet the higher your VIP level is.
Discover more bonuses and promotions at the 1xBit crypto casino!