Technically, the essence of cryptocurrency is gambling. Investment is a form of gambling so actually, you’ve always been able to gamble on the blockchain. However, this new creation allows you to play roulette on the blockchain too.
According to The Next Web, a developer by the name of Rui Gomes has created a game called ‘Lighting Spin’. The game allows users to play roulette within the Bitcoin lightning network. According to The Next Web:
“The app lets you wager anywhere between 1,000 Satoshi (approximately 6¢) to 100,000 Satoshi (approximately $6) per round. All you need to play the game is load your balance using a wallet service with support for the Lightning Network – like Eclair, for instance.”
“You can choose the multiplier you want to wage at. This means that if you wager 1,000 Satoshis with multiplier factor of five — you will win or lose 5,000 Satoshis depending upon the outcome. The web roulette has been spun more than 7,000 times so far by nearly 300 users at the time of writing. The data on the website shows that more than 4.2 million Satoshis ($248) have been wagered on the game.”
See more for yourself, here-
I think this goes a long way for blockchain adoption. You have to consider how online gambling websites may wish to explore this technology in the future. By opening up a form of blockchain gambling, a new movement may very well be inspired. This offers online casinos and bookmakers the opportunity to apply a new technology to their services. Most importantly though, there are physical implications for this too, a physical roulette table could be built to use blockchain technology too, imagine that?
Okay, this is all very novel, however, it is nice to see how innovation is inspiring the blockchain to enter very specific markets. Whilst we won’t see a blockchain gambling revolution take off just yet, this could become a very big thing in the future.