You are here
Home > Casino > What you should know about Ethereum

What you should know about Ethereum

In case, you have been wondering about Ethereum, it would be best described as an open source, blockchain based smart contract platform. It would not be wrong to state that for any normal cryptocurrency gambler, ETH or Ethereum would cater a cryptocurrency token known as ‘Ether’, which could be used in Ethereum Casinos.

Idea behind Ethereum

The major idea behind Ethereum has been proposed by Vitalik Buterin. He is a cryptocurrency researcher and programmer. The cryptocurrency began as crowd sale between the months of July and August in the year 2014. However, the system became live on July 2015.

It was in the year 2016, when Ethereum got split into two different blockchains. The new version became ETH or Ethereum and the original remained to be Ethereum Classic. Let us delve on Ethereum or ETH here.

The smart contracts of Ethereum could cater some interesting applications to online gambling in future. The popular smart contract casinos or betting has been known to decentralize the casino platform.

Rather than sending ETH to online casino, you would have the option of playing casino games directly through the blockchain. Simply for the reason that no one has been controlling your money, crypto games have been provably fair. You could also check about random algorithm of the casino game working in a fair manner without anybody tampering with it.

You should rest assured that smart contract casinos have been developing continuously.

How to get Ethereum?

It would be recommended that for acquiring Ethereum to gamble on Ethereum Games along with storing them, the quickest and convenient mode would be as follows:

  • Buying Ethereum with fiat currency

In event of you looking forward to converting fiat currency into Ethereum, you could make use of several available Exchanges offering decent rates and low fees. You would not be required to purchase Bitcoin first, as the Exchanges would offer you with ETH/EUR and ETH/USD rates.

  • Ethereum wallets

You would be able to store Ethereum in either desktop or web wallets or hardware wallets. It would be pertinent to mention here that not all would be storing huge Ethereum amounts in Ethereum casino, for a significant length of time. The safest wallet would be the one where you would be in complete control such as the web wallets or hardware wallets. You should rest assured that priority would be to stay safe in Ethereum gambling arena.