coinpoker.comThe online poker industry has always been one of the first to adopt new technologies and trends. That is why it’s no surprise that blockchain has found its way into poker, one of the most popular games. Blockchain has opened up a whole new opportunity – blockchain + poker = an exciting, innovative way to play poker.
More than 1500 blockchain-based poker platforms accept real money deposits and offer players the ability to play for cash prizes. These numbers are growing, and blockchain poker has shown its benefits.
What is Blockchain Poker?
Blockchain poker is a new form of playing poker online, created as a response to ever-changing market needs. Many people say blockchain and poker are a match made in heaven.
However, when a player enters the software to play poker, there are few visual differences between traditional online and blockchain poker. While that may be true, all distinction happens behind the screen. The critical difference is decentralization. Blockchain poker is not susceptible to manipulation as often happens with traditional online poker.
Blockchain poker uses a decentralized ledger that keeps track of hands and transactions. The intricate system makes it difficult for anyone to cheat as, at any time, you can review the hand and cards dealt. However, the fairness of cards being dealt is the number one reason why many players avoid online poker sites.
Blockchain, however, cannot be altered as decentralized RNG allows players to participate in the shuffling process and verify the authenticity of the cards. Furthermore, it works based on an algorithm using encrypted and temporary seed values that start the random shuffling process. As a result, blockchain poker allows transparency, which means that the game is fairer than traditional online poker.
Finally, decentralized blockchain poker is faster in providing players with winnings. Hence, transactions are completed in seconds, making the game experience more fluid.
5 Benefits of Blockchain Poker Over Traditional Online Poker
In addition to the differences, blockchain poker has several benefits over traditional online poker. We’ve all heard how blockchain technology will revolutionize gaming, and it certainly has. However, everything evolves in some way, which is valid for the poker world. So, let’s look at the five key benefits of blockchain poker for players.
#1. Play anonymously
Have you ever played in an online casino and wondered if there is a way to skip all these personal information requirements? You are not alone, and while it’s impossible to skip these in standard poker rooms due to banking transactions, it is in blockchain poker.
There are millions of people who are not willing to share their information online. People prefer privacy, and with crypto poker rooms, you can stay anonymous as the only information required is your email confirmation and wallet address.
Traditional online poker rooms use fiat money and are, therefore, dependent on banks. That changes with blockchain poker. Since they use cryptocurrency, they do not have intermediaries in the payment processing. Hence crypto poker rooms have less paper documentation, and the fees are far lower while making a transaction.
#3. Gameplay transparency
Another primary concern for players on traditional poker sites is the software that players or casinos can easily manipulate in their favor. However, with blockchain poker sites, there is a provably fair system that uses an unbiased random number generator or RNG as input.
In other words, no one can use the software in their favor, which means players enjoy a safe atmosphere. In addition, some blockchain-based poker rooms have an ethical voting system where users can report suspicious play.
#4. Super-fast payouts
The most significant difference between blockchain poker and traditional online poker rooms is that blockchain does not rely on banks for deposits and withdrawals. It means you will never have to wait for your money to be transferred from one place to another, which can take up to 30 days or more. Instead, payments are made directly between users on the blockchain network. Blockchain technology makes fast payouts possible and offers better stability and more security than traditional online poker sites.
Since crypto, in general, is a high-value currency, many poker rooms tend to give rakeback so that players are encouraged to participate. In essence, blockchain platforms have small fees or rakes continue to operate. However, many offer rakeback as a percentage that they return to players. These percentages vary depending on the platform, but in most cases, they do not exceed 20% rakeback.
Where Can I Play Crypto Poker?
Everyone knows poker is fun, but blockchain takes it to a new level. Thousands of websites are out there, and people get overwhelmed and suspicious. You can check the reviews for the best crypto poker sites if you want to play blockchain poker. But we will give you an insight into one of the best crypto poker sites.
CoinPoker is one of the highest-rated blockchain-based platforms using USDT stablecoin as the primary in-game currency and CHP as bonus fuel. The platform was developed by poker enthusiasts and is now growing its worldwide community that includes famous poker world names such as Viktor Blom or Isildur1, Isabelle Mercier, and Tony G.
The platform is Ethereum based, and all games operate on USDT. However, you can withdraw your winnings in BTC and ETH. In other words, you can withdraw your funds instantly, but bitcoin can take a few hours.
Coinpoker does not use a traditional rake system and operates as a non-profit platform. Instead, they make community contributions to different games. For example, 3% for cash games, 7% for MTTs, 2% for OFC, and 5% for Cosmic Spins. These are returned to the community as a 100% rakeback, divided equally among participating players.
In addition, every Monday platform rewards players with a 30% rakeback paid in CHP. Speaking of promotions, there is always something going on at CoinPoker, and you can get leaderboard promotions, bounties, bad-beat jackpots, and more if you are a fan of the game, visit CoinPoker, home of the blockchain poker games.
Blockchain technology has created a decentralized infrastructure for a fully functional peer-to-peer casino. There is no need for any third-party involvement and trust. Smart contracts remove the fear of collusion and cheating by casino owners, developers, and affiliates from the gaming experience. By bringing transparency to the casino, players can now determine how much rakeback they are entitled to, which has been impossible in any current digital casinos.
The players of blockchain poker will enjoy the benefits of playing on these decentralized platforms, such as instant payments, anonymity, and a transparent mechanism. One thing is for sure, though, blockchain improves the performance capabilities and, consequently, the profitability of all players involved.