This brief cut is an overview on how EtherSpin operates. This Ethereum casino is part of cryptocurrency Ethereum’s growing maze of decentralized applications that are pivoted through its formidable blockchain. When visitors to this casino place a bet with the EtherSpin they are entering into an engagement of fair play. All bets placed in this network need to be verified before being passed. If bets cannot be verified through this system then they are summarily rejected.
Unlike other online betting agencies, all bets that enter the Ethereum blockchain will be tested fairly and squarely before passing muster as a legitimate and qualifying bet. This is to ensure that each and every bet that enters the blockchain is going to be treated fairly. The checks and balances systems in place to validate and authenticate bets are indeed indicative of fairness and are reliable and consistent for even consumers wide of the blockchain to use.
The EtherSpin casino relies on Oraclize’s (part of the Ethereum enterprise) random number generator. It is also making use of Oraclize’s algorithm known as SHA256. The algorithm collects all data entering the blockchain. It can also sift through bytes of randomized data. The data is then checked through in order to determine whether it qualifies as a legitimate bet. If it does, then the bet is entered. If it does not, it is rejected out of hand.
The algorithm can also be used by non-affiliated users. It can be used by users without an Ethereum contract in place. The process for such users is defined as verifying off chain contracts. It is an independent example of due process. It also doubles up nicely as a system of fair process. Will such fair processes be in existence across the board? The answer cannot be given straight off the bat but it is not being forward to suggest confidently that it is only a matter of time.
Note that this fair process is already in full swing across the Ethereum circle of trust’. It is not just for the purposes of gambling.