What is Etheroll?
Etheroll is a special online Casino that allows users to play and enjoy 100% fair gambling. It also has an Ethereum based coin referred to as DICE.
Etheroll only offers one game, the Dice roll game, where the player predicts the roll of the 100 sided die. The platform is designed as a DApp that allows players to place bets by predicting the dice roll. Note, that there are no deposits or signups when using Ether. You only pay when placing the bet.
Etheroll employs smart contracts that target ensuring all the games are played fairly and the outcomes are verifiable. The objective is ensuring gamers can have trust in the system and can play without worrying of manipulation or even theft.
The decentralized nature of the Ethereum platform is bringing a revolution that will completely change how the gambling market operates.
What is the problem that Etheroll Solves?
The gaming industry has become highly centralized. In many cases, the industry has to rely on trustworthy entities. The impact is a serious threat of manipulation by the respective companies.
The centralized profit-seeking gambling companies easily manipulate the outcomes to optimize their returns. In other cases, the companies cancel orders resulting in huge losses for players.
A careful check on the industry reveals that some of the betting companies are theft rigs that provide very limited motivation.
When gamblers play Dice and other games in many online and conventional casinos, both conventional and online, the payments are never prompt. In some of the instances, players are slapped with many restrictions that require the amount won to be used for additional bets before withdrawals can be allowed.
In most of the cases, the target is ensuring that the winner losses at some point and do not have anything to withdraw.
The centralized gambling system implies that gamblers can never trust the conventional organizations.
Etheroll introduces the application of smart contracts to help users make the predictions and carry home profits when the predictions are right. This is what sets Etheroll from its peers.
How does Etheroll Solve the problem?
To address the outlined problems, Etheroll has opted for a blockchain solution. By employing smart contracts on the Ethereum system, Etheroll game code is completely decentralized and immutable. The smart contracts are also verifiable and auditable. Here is a closer look at how the Etheroll platform operates.
1. Secure sourcing of information outside the blockchain
To help users play Dice, the Etheroll has to generate random numbers. The system for generating random numbers is based on Oraclize.it. This service helps in retrieving an integer securely away from the blockchain.
These integers are sourced from TLSNotary and Random.org. Then, Etheroll runs an SHA3 encryption on the integers to hit the final DICE results. It is considered one of the safest methods of generating random numbers.
Note that Etheroll has promised to continue developing the procedure of creating random numbers.
When Etheroll receives a bet through the playerRollDice function, it is Oraclized using the smart contract queries and then encrypted. The encryption helps to nest and secure the query.
Besides, random public exposure ensures that the respective player is operating honestly. The proof is stored in the IPFS as a proof that the results were not altered.
2. The application of smart contracts
The Etheroll operates as a web-based Ethereum DICE gambling DApp. This is effected via a smart contract that makes it fair, auditable, transparent, and verifiable. The contract is designed to accept gamers using Ether using its player interface. With the smart contract operating as an additional layer on the Ethereum system, users are assured of no possibilities of downtime through DDOS attacks or interference from third parties.
Unlike the conventional online casinos that require users to deposit their funds before their withdrawals requests are placed, Etheroll smart contracts do not need players to sign for accounts or deposit any funds. Deposits are only accepted when players place their bets.
3. The Etheroll coin, DICE
Etheroll coins are referred to as DICE. The name also refers directly to the main concept behind Etheroll. The tokens are ERC20 standard tokens that come with an additional custom functionality in the Etheroll ecosystem. It is important to note that unlike other cryptocurrencies that only release part of their tokens and the rest as motivation to miners, Etheroll released all of its tokens during the crowdsale that ran for two weeks running from 13th February 2017. To run the network and motivate the coin holders, Etheroll charges players a fee for using the platform.
What makes Etheroll better than it’s competitors?
The gambling industry has been growing at a very rapid rate. However, most of the players have entered the industry with a profit-based only mindset and are willing to go to any length to steal from clients.
However, Etheroll outdoes them on most of the fronts including the following.
- Etheroll, unlike other casinos, allow players to set their own odds. This implies that players have the option of adjusting the dice roll to fit their own risk profiles. This is meant to enhance the overall thrill of playing DICE on the casino. The model is based on the SatoshiDice style that has made Etheroll become one of the top gambling platforms on the Ethereum platform.
- Etheroll operates as a completely open and reliable gaming platform. This implies that once a gamer makes a prediction, the only thing that determines whether he wins or not is fate. There is no manipulation or outright theft. This model of operation has restored trust in the industry and more people can now join and enjoy their favorite DICE game.
- Etheroll operates as a completely decentralized casino. This means that the platform operates without third parties that have proven highly unreliable and manipulative. In Etheroll, everything is determined by smart contracts. The contracts are automated so that once you make a prediction and it turns right, an immediate payment is disbursed to your account.
- The Etheroll allows users to only play one game, Dice. Though this could be considered negative because players do not have diversity like in other casinos, it makes it very easy to run and improve progressively. Most DICE players indicate that they would rather play Dice on Etheroll than other online casinos because the risk in the latter is very high.
- The Etheroll operates in a completely open manner. On top of providing a highly reliable platform for placing DICE bets, Etheroll clearly outlines the risks that come with using the online casino. The white paper warns users of key risks such as the danger of losing the bet and unfavorable regulatory actions.
- The online casino is based on the Ethereum platform. Apart from the Ethereum being the second largest blockchain and cryptocurrency, it has numerous security checks. This helps to make Etheroll more secure compared to other online casinos. The Ethereum platform also helps to extend the reach of the network so that more players can play and enjoy the game.
- The greatest advantage of using Etheroll is perhaps its highly trusted and experienced team. The Etheroll development team has demonstrated its great passion for the gaming industry. This has won it a lot of trust from the gaming community. Since 2016, the development team started by running a highly successful crowdfund exercise though they suspended it following the DAO attack. But things moved on well after the siphoned coins were refunded. Now, the team has continued to progressively improve the casino and winning huge trust and support from the community.
- All Etheroll token holders are entitled to receive part of the overall profit made on the network. This implies that holders do not need to worry about complex mining procedures to earn the native tokens. Simply hold some value of the native tokens to enjoy a reward.
How can Etheroll be categorized?
Etheroll can be categorized as the next generation online gaming platform that sets the stage for gambling in a secure and verifiable manner. The Etheroll platform has demonstrated that gamers do not have to give up because of the poorly designed and untrustworthy conventional gaming platforms. The bar has been raised so high by the adoption of the blockchain technology. Here are some of the unique things that make Etheroll the new pioneer for a new model of operations.
- The platform and gaming are provably fair.
- Unlike in other online casinos, Etheroll players are allowed to set their odds.
- It provides users with a web-based web3.js interface.
- Very low house edge.
- A highly trusted and experienced team.
- The platform is based on the Ethereum blockchain that guarantees a higher level of security and anonymity.
What’s Etheroll’s vision on Security?
Etheroll targets becoming the most reliable and secure online casino for gamers. The goal was crafted to help the casino redefine the industry that was fast fading into oblivion. The development team opted to use multiple methods of securing users details, assets, and moves. The main method used to keep the system secure is Smart Contracts.
Every smart contract that is deployed on the platform has to be subjected to third-party audits referred to as Piper Merriam. These audits include Automated Truffle testing and third-party security audits. Other methods of securing the system include;
- The Etheroll system operates on the Ethereum blockchain. Whether you are placing a bet or sending value on a peer2peer basis, the details are encrypted so that no one can easily unmask you.
- The system does not use Proof of Work (PoW) consensus model. Rather, all the coins were distributed during the initial crowdsale. This implies that there is no scramble for new tokens and the motivation to token holders is via the profit made on the platform. This has been very important in eliminating the risk of 51% attack.
- The development team at Etheroll is highly proactive. They are always on the lookout for new gaps and sealing them immediately with regular updates. They have particularly been very effective after the DAO attack of 2016 that almost thwarted their ICO.
Examples of Etheroll’s use cases/applications.
In their white paper, Etheroll development team has indicated that the primary goal of their native token, DICE is for use in the platform. However, the fact that it is a cryptocurrency opens it for numerous use cases. Here are some of these use cases.
- Dice is the primary currency for use in the Etheroll ecosystem: This is the primary goal of the native tokens on the Etheroll DApp. With the tokens, you can place odds and get rewarded when the prediction gets right. Once you buy the DICE tokens, it also implies that you have voting rights on making key decisions such as adjusting house edge or adding new games to the suite.
- Trade DICE in the markets: As a cryptocurrency, holders who do not want to get involved in gaming can still use it for trading in the markets. The markets operate the same way forex trading platforms work. This means that you need to pair DICE with other cryptocurrencies such as Bitcoin, Ripple, or Ethereum among others. Note that for such trading to be effected, you need to start by selecting an exchange such as The EtherDelta, HitBTC, or ForkDelta.
- DICE coin as an investment and saving option: If you have been looking forward to investing in cryptocurrencies, the focus should be on selecting the tokens with high potential. However, how do you establish a high potential token? Is Etheroll one of them? If you take a closer look at Ethertoll, all indicators show it is a high potential project. The system is secure, it is lead by a highly ambitious and tech team, and the target market is very lucrative.
- Etheroll tokens are a reliable way of sending value on a peer2peer basis: This implies that you can use the tokens to make direct payments across the globe instantly. Whether you want to send funds to a friend or pay for goods delivered, all that is required is for the recipient to also be in the Etheroll network. He will particularly need to have an appropriate wallet such as Legder Nano S or MyEtherWallet to hold the native tokens.
https://coincheckup.com/coins/Etheroll
https://etheroll.wordpress.com/
https://crowdfund.etheroll.com/etheroll-whitepaper.pdf