Earning Passive Income
Fairspin - a combination of classic and innovation
Fairspin: A win-win blockchain case
May 20, 2020
Fairspin is the world’s first online casino combining blockchain tech with classic casino experience. By using a complex tech solution provided by the TruePlay platform, Fairspin ensures blockchain-powered transparency and security of transactions while offering popular games from leading providers. Deposits and payouts are available in major cryptocurrencies, including BTC and ETH. All funds are automatically converted to TPLAY tokens on the gaming platform. This allows players to easily track all the transaction data as well as the casino’s gaming stats and fund balance
In the wake of hype around the cryptocurrencies, the so-called "cryptocurrency" casinos and " bitcoin casinos" began to open in large numbers . Users were guaranteed solid winnings and timely payments, which promise almost all gambling platforms, but at the same time it became possible to replenish the account with cryptocurrencies.
This marketing maneuver was quite successful, but failed to revolutionize. If the platform claims to accept deposits in cryptocurrency , this does not mean that it works on the blockchain, like dApps. It is likely that this is a regular online casino, but with small bonuses in the form of no limits, anonymity of payments and high transaction speed. At the same time, one should not rely on transparency and reliability.
Decentralized applications can really become the future of gambling, and they are already actively integrating into the field of online casinos. Most of all dApps for gambling are presented in such projects as Ethereum, TRON, EOS, IOST. And in this case, it is safe to say that applications guarantee complete transparency, since they are developed on blockchains.
Transparency is due to the fact that all actions on the site are recorded by smart contracts. At the same time, users have access to information about winnings, bets, deposits and all other data, but at the same time players remain anonymous. Real-time numbers in real-time is something that no classic casino can provide.
However, dApps also have their drawbacks. Despite the fact that giants such as TRON and Ethereum are actively attracting developers, decentralized casinos are still far from classic games. One of the most significant drawbacks of dApps is the small selection compared to traditional offerings. Decentralized applications also lose in visualization. They are not so bright, there is no beautiful design and those effects that are used to heat up the player’s excitement. In addition, to work with dApps, you must additionally install a special extension in the browser, which scares users off.
It is likely that decentralized applications will make a real revolution in the field of gambling, but so far they are significantly behind the classical ones. Companies are working on this, trying to attract developers and make dApps more interesting and attractive.
Fairspin - a combination of classic and innovation
While dApps are trying to attract users, and classic casinos are trying to keep their audience, the Fairspin service has incorporated all the best from the “classics” and new technologies. This is a platform where the blockchain is used exclusively for transparency. When a user replenishes an account, his funds are converted into tokens . On the one hand, this creates some difficulties for players, and on the other, it completely solves the issue of provable honesty. It is with the help of tokens that all transactions that are conducted between the player and the casino are recorded.
In this case, the user should not abandon the usual games for him. Fairspin offers solutions from the best providers: NetEnt, Microgaming, iSoftBet and other trusted providers. These games must follow the algorithm (mathematical formula), in which the winnings are about 97-98%, but there are exceptions with a lower percentage. The platform gives you the opportunity to take advantage of all the benefits of both blockchain and classic gambling.
Blockchain technology enables Fairspin to do what no classic casino does - to show the balance on your personal wallet, the percentage of winnings on games and other data. If we talk about ordinary sites, then none of them will give such statistics, and everything that is publicly available is very approximate figures based on surveys or assumptions and averaged by different indicators.
At Fairspin, things are completely different. The casino reveals not only the figures on the winnings of users, but also its balance. Each player can see how many tokens are in the site’s wallet and make a conclusion about its reliability. You can also monitor how many and when there were jackpots, how much wallets are replenished and how much money is withdrawn. The identity of users is not disclosed, public access is provided only to transaction data.
Both dApps and classic casinos are now unable to offer users sites where there will be high-quality games and clear transparent relationships. While these industries are working to fill the gaps, Fairspin has found a way to maximize the benefits of each and combine them. The high level of transparency provided by the blockchain, and popular games loved by everyone are what attract users and guarantee them the reliability of wins.
On March 7, a user of Fairspin blockchain casino won and withdrew 2.5 BTC ($ 22,000 at the time of transaction) from the platform with a deposit of $ 1900. The player’s largest win for the session was $ 6,000. The user received it in the Hip Hop Panda game after betting $ 180.
Disclaimer: Online casino activities are governed by the laws of your country. ForkLog is not responsible for possible financial losses of players.
The TOP 3 wins of March also included:
- 26 ETH ($ 3,500) in the Book of Gold game with a deposit of $ 500 - March 21;
- 39 ETH ($ 5,200) in the Hip Hop Panda game with a deposit of $ 500 - March 31.
In February 2020, Fairspin reported a previous record. The user made a $ 50 bet in the Book of Gold game and won 1.79 BTC ($ 17,549 at the time of the transaction).
In addition, Fairspin talked about player behavior during the coronavirus pandemic.
The blockchain casino team noted the high activity of players on the weekend. Prior to the pandemic, users were more likely to play in the evening and at night from Monday to Wednesday. In addition, the number of visits to the platform from mobile phones increased by 5%.
Fairspin is a blockchain casino with TruePlay honesty control system . Fairspin publishes betting and winning information on the Ethereum blockchain. Users can check it in the block explorer.
Earlier, Fairspin representatives told how blockchain casino tokens work .