Blockchain Cryptocurrency and its Effects on Gambling Industry 106

Ask around, and there are few people who have not heard of cryptocurrency. A few years ago, the concept was as abstract as astrophysics, but now everyone wants in on this new phenomenon. Before we delve into the intricacies of cryptocurrency and the blockchain technology that makes it all possible, it’s important to understand what it is. In its simplest form, cryptocurrency like Bitcoin offers a decentralized alternative to traditional transactions processing. The entire blockchain – the algorithmic code – that underpins the Bitcoin markets is not governed by a regulatory authority, a central bank, or any government. It is comprised of a series of decentralized nodes made up of everyone who is on the network. Such a concept has widespread applications. For starters, it provides near zero transactions costs, fees and commissions, rapid processing of transactions, no middlemen are required, and there is virtual anonymity depending on the network that is used to transfer the cryptocurrency. For poker aficionados, gambling gurus, and slots players this is a godsend.

One of the biggest problems that exist in the online gaming arena is regulation. People who are responsible by their very nature and wish to dabble in online poker games, online blackjack games, or online slots games may be prevented from doing so by state or federal regulations. In the US, the 2006 UIGEA created many obstacles for online poker 888 players and online casino players alike. On one fateful Friday – dubbed Black Friday – the world’s leading online poker rooms closed up shop after the Department of Justice and the FBI announced they would be shutting down major online poker rooms.

Did the UIGEA Facilitate the Rise of Bitcoin for Poker Players?

According to the DOJ, they were in contravention of the Federal Wire Act and were involved in money laundering activity. The problem at the time (and it remains a federal law) is that banks and financial institutions are not allowed to process transactions to online betting sites. Leading online poker operators fled the US, returning in late 2013 after the state of New Jersey opened up online gaming to its residents.

Can Bitcoin and the blockchain technology that it is fashioned off provide the necessary solution to players wanting to enjoy real-money poker games like Texas Hold’em, Omaha Hi, Razz, Caribbean Stud Poker, 7 Card Stud and others? The answer is a definitive yes. Since Bitcoin is not fiat currency, and it is not operated by banks or financial institutions – there is no reason why it cannot be accepted by online poker rooms of the major brands. By dint of its decentralized status, it is an accepted form of digital payment.

The widespread acceptance of Bitcoin in modern-day society is it saving grace. More e-commerce transactions, more online gaming sites, more business to consumer operations are now accepting digital currencies than ever before. The explosive growth of Bitcoin in Q4 2017 has brought this cryptocurrency to the attention of the masses. From under $1,000 per coin at the start of the year in January 2017, Bitcoin rallied by almost 2,000% to hit $20,000 before retreating to $15,000 per unit.

Is Bitcoin Online Gaming Going Global? 

Figures aside, the rapid rise in cryptocurrency is due to its mainstream acceptance throughout Asia and other parts of the world. The UK, EU, Australia, US, Canada, South Africa and other countries are now dabbling in Bitcoin trading, investing, and transactions processing. Bitcoin wallets and trading platforms are now pervasive and ubiquitous. Poker players were among the first to cotton on to this idea, as they believe theirs is not a gambling game – it is a strategy-based game. As such, the concept of ‘betting’ is less of a gamble than it is a punt on one’s abilities as a skillful player.

So, what are the advantages of playing poker with Bitcoin? For starters, poker players do not have to worry about regulatory authorities clamping down on their gaming activity since Bitcoin poker is not regulated by financial institutions. This confers many additional benefits on players such as freedom to play Texas Hold’em at any time. Since no fees need to be paid while transactions are being processed, online poker rooms like 888 poker and online poker players needn’t worry about these extra costs.

Another benefit of using Bitcoin for poker is the issue of inflation. Since inflation is impossible with Bitcoin – only 21 million BTC will ever be available in circulating supply, the quantity that is currently available is limited. This means that markets can never be flooded with excess BTC – only incremental amounts (fractional amounts) will be released at a decreasing pace. We already see this with huge dollar volumes of BTC trading, and low nominal volumes owing to the high price

Why have online poker rooms been slow to adopt Bitcoin?

Remember that Bitcoin was created by an entity, individual or group of people known as Satoshi Nakamoto back in 2008. When the white paper was released and Bitcoin was offered to the markets, it was worth mere fractions of a penny per unit. The currency was mined by powerful hardware and software and computer techies. As the currency gained greater traction with users, its value steadily increased and it hit a high of around $20,000 in 2017. It is possible to exchange this digital currency for goods and services, and fiat currency as well.

We have already listed several of the benefits associated with Bitcoin use for online poker games. In addition to its store of value function (a limited supply of BTC will be made available), the anonymity and safety features of Bitcoin are sacrosanct. Bitcoin poker games suffer from several problems including cryptocurrency thievery, fierce competition from other cryptocurrencies such as Ethereum, Litecoin, Ripple, Bitcoin Cash etc., and a low acceptance rate owing to its prohibitive transactions processing speed. Currently, only 7 transactions per minute can be processed by Bitcoin, while other options like Ripple can process thousands of transactions per second. Poker rooms also have to deal with the bureaucracy – the paperwork needed to maintain the books.

So, how will Bitcoin and online poker gel in the future? To put it mildly, top online poker rooms will be looking at ways of incorporating cryptocurrency in their range of accepted payment options if all the checks and balances add up. Bitcoin may not be the most efficient digital currency to use, given its slow processing times. However, poker players appear to be more interested in using their credit cards and their cold cash to fuel their strategic gameplay than pie-in-the-sky concepts like the bubble that may be Bitcoin.

Is BTC Ironclad?

The issue of counterfeit activity is impossible with BTC given that each Bitcoin has a unique signature (code) attached to it. Since poker aficionados are dealing with finite quantities of authentic non-fiat currency, there is no risk of fraud with the cryptocurrency being used. A caveat is in order for poker fans – the security of Bitcoin wallets and cryptocurrency data must be safeguarded at all times. And if you’re rushing to cash in on a poker tournament, you don’t need to worry about a bank wire being processed – Bitcoin transactions and other cryptocurrency options can be processed immediately. Withdrawals are a lot quicker from your online poker account as well.

Several leading poker rooms now facilitate Bitcoin (BTC) transactions processing for the many benefits that it confers upon players. Bitcoin casinos and poker rooms are rapidly growing in number, and for good reason. It is important to understand that cryptocurrency is inherently volatile, and winnings of X amount of Bitcoin can be worth significantly more or less in fiat currency at any given time. Currently, there are well over a dozen leading online casinos providing gaming options with BTC. Many of these online casinos and online poker rooms offer exclusive payments processing with Bitcoin, while others have included it as part of their range of payment options. We are on the cusp of major change in the gaming arena, and it is largely thanks to the widespread adoption of BTC in countries like South Korea, Singapore and the Philippines.

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How ViaBTC, a Pool Founded 6 Years ago, Continues to Rank Top Globally by Hashrates 2913

Recently, the BTC hashrate has reached a new high. The previous record was 248.11EH/s, which was exceeded when the hashrate figure peaked at 254.77EH/s this month. Despite sluggish market conditions in 2022, the interest in mining remains unabated. In addition, as more people joined the mining community, the BTC hashrate kept going up, and the difficulty also soared. Running low hashrates, individual miners are becoming less competitive, yet the advent of mining pools brought them a ray of hope and also revolutionized conventional mining models.

Of the many pools that have popped up, ViaBTC Pool has left miners with a deep impression. In 2021, some countries cracked down on BTC mining, and many pools went out of business as a result. However, the strict policies didn’t hurt ViaBTC’s BTC hashrate. Instead, it has ranked 1st for a while thanks to the pool’s globally distributed business model and the recognition from global miners.

As a pool founded in 2016, ViaBTC managed to survive and record world-leading hashrates all thanks to the following factors.

A strong team

To create a stable mining environment, the ViaBTC team has deployed nodes all over the world to match miners with the nearest node, which minimizes delays and makes the mining network stabler. So far, ViaBTC remains the pool with the lowest orphan rate in the entire industry, which shows the strength of its team.

At ViaBTC, over 60% of the staff are members of the product and R&D teams, the primary members of which are all seasoned developers from world-renowned Internet-based companies. Led by ViaBTC’s founder Haipo Yang, the team has continued to upgrade and improve the pool. As it keeps the pool secure and stable, the R&D team has introduced more versatile products and features and built a full set of matching tools.

Innovation

To address existing flaws of the mining industry, ViaBTC Pool has rolled out many innovative products. For instance, the pool invented PPS+, which was the first payment method of its kind in the industry, and created Transaction Accelerator, also a unique product. Plus, it is also the first pool to support “Convert Now”. These products have not only improved the mining revenue but also solved the problem of congested transactions under extreme market conditions. Meanwhile, the hourly pay of mining revenue effectively avoids risks arising from price fluctuations.

A well-established blockchain ecosystem

ViaBTC has been trying to build an all-encompassing blockchain ecosystem that integrates products, tools, and investment. In addition to ViaBTC Pool, the group now also boasts other four key business segments, including CoinEx Exchange, ViaWallet, CoinEx Smart Chain (CSC), and ViaBTC Capital, which makes it one of the best-established blockchain firms out there.

Relying on its strong ecosystem, ViaBTC has simplified the tedious process that goes from crypto mining to transaction and circulation. When withdrawing cryptos from ViaBTC Pool to CoinEx Exchange, miners do not have to pay any fees, and withdrawals arrive in real time. Moreover, Staking, a built-in service of ViaWallet, provides miners with all kinds of different ways to preserve the value of their assets in an extended bear market.

Myria has announced free-to-claim Alliance Sigil NFT for all new and existing community members 3058

Myria Studios, the blockchain gaming division of Myria, announced that the company is rewarding its community members with its inaugural NFT drop — a free-to-claim Alliance Sigil NFT. For a limited time, all new and existing Myria community members can claim the exclusive NFT for free.

The Alliance Sigil NFT forms part of the intricate lore of the Myriaverse and will signify where each holder chooses to stand in the fight against “The Rift” — a powerful force that consumes real worlds and mutates them into digital ones. The Sigil NFT will also grant holders additional access and utility, which will be revealed at a later date.

Participants must complete basic missions to claim their chosen Alliance Sigil NFT, such as joining and introducing themselves to the Myria Discord community, and can also choose to complete further missions to claim additional rare rewards.

Members can select from three Alliances: Federation, which seeks to combat the Rift’s expansion on all fronts; Vector Prime, which believes humanity is due for an evolution and will stop at nothing to accelerate the Rift’s expansion; and Equinox, which favors balance and coexistence.

The rich lore of the Myriaverse will carry across Myria Studios’ game worlds, and metaverse, and will be revealed over time, chapter by chapter.

“Space and time bend and twist, taking your consciousness with it. If you don’t move fast, you could get caught in a time loop forever. But if you’re quick and smart, and choose your Alliance wisely, you’ll be rewarded.”

Visit https://www.myria.com/ to complete the Alliance Sigil NFT claim.

About Myria

Myria is the first Ethereum Layer 2 scaling solution built for gaming. We make digital asset trading and blockchain gaming easy with our all-in-one platform, including the Myria NFT marketplace, Myria Wallet, Myria Game Platform, and a decentralized exchange. With the mission of enabling more people to build, experience and enjoy the benefits of blockchain and the metaverse, we are building a suite of developer tools including easy-to-use API integrations and SDKs for developers to easily harness our platform infrastructure to unlock the potential of blockchain. This suite of infrastructure will also underpin the expansive blockchain gaming ecosystem being developed by our gaming division, Myria Studios.

Baby Shark BubbleFong Friends NFTs, First Sale on Binance NFT 3299

BBF Inc. has announced that ‘Baby Shark BubbleFong Friends‘ NFTs will be released on the Binance NFT, the official NFT marketplace of Binance, on the 10th of this month. Featuring the beloved characters of Pinkfong Wonderstar, these will be the first collection of the ‘Baby Shark BubbleFong Friends’ NFTs.

For its first collaboration with Binance NFT, BBF Inc. plans to release 2,504 Mystery Box NFTs featuring the adorable characters from Pinkfong Wonderstar, the hit 3D animated series of The Pinkfong Company, on the Binance NFT on the 10th. The Binance NFT Mystery Box ‘Baby Shark BubbleFong Friends NFTs’ is designed to enable Play-to-earn and token mining within the game. Detailed sales and event information will be released later on the Binance NFT official website and social media channels.

‘Baby Shark BubbleFong Friends’ is a P2E game developed by Day1 Entertainment based on the Pinkfong Baby Shark IP, the world-renowned IP of The Pinkfong Company, after Day1 Entertainment entered into a license agreement with The Pinkfong Company.

Meanwhile, ‘Baby Shark BubbleFong Friends’ is currently holding a Pre-Registration Event through the official Pre-Registration page (bbfpreregistration.io/) for global user. Those interested can find detailed information about the event on the website and through community channels.

‘Baby Shark BubbleFong Friends’ is a classic arcade bubble shooter P2E game that is fun and easy to enjoy. Along with various game contents, it is scheduled to be released globally within the first half of this year except South Korea, Vietnam, Singapore, North Korea, and China pursuant to the regulations of each country.

About BBF Inc.

BBF Inc. is a U.S.-based operating corporation that oversees the global operation and business of P2E game Baby Shark BubbleFong Friends.

LABEL Foundation Integrates With Binance Custody To Offer Cold Storage Support For $LBL Token 3906

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LABEL Foundation has announced that it has officially integrated with Binance Custody to take advantage of their highly secure cold storage solution. With this integration, LABEL’s native tokens can be kept safely as the $LBL is now supported by Binance Custody and the tokens are safely stored using their institutional and insured cold storage feature. Moreover, both BEP-20 and ERC-20 are available for deposits as well as withdrawals. If all goes well, the LABEL team hopes to further expand its partnership with the Binance ecosystem in the future as well.

A budding relationship

Binance Custody was only released in 2021, but there is still nevertheless plenty of faith in the high level of user protection being offered by the service. LABEL had been searching for a reliable custody service for quite a while, and when choosing a custody service, the main aspects that LABEL primarily focused on were security and insurance coverage. Keeping that in mind, Binance Custody indeed appeared to be the optimal choice as it uses industry-leading secure MPC (Multi-Party Computing) , threshold signing schemes, and offline key-sharing storage to decentralize fund management, all of which are vital components to ensuring the safety of users’ digital assets.

Also, in terms of insurance, Binance Custody obtained insurance from Arch Syndicate 2012 at Lloyd’s of London, which was mediated by Lockton’s Emerging Asset Protection (LEAP), the world’s largest independent insurance broker, to further enhance investor protection. Insurance is one of the most important factors when it comes to a custody service, as it provides peace of mind to the customers as even if something does go wrong, the losses can be recovered.

The benefits of transferring ownership of digital assets to Binance Custody are hence not only limited to security from hackers and malicious individuals, but also delegation of authority. By sharing access with the custodian and delegating this authority, users can hence potentially prevent the loss of assets in the event of lost cryptographic inheritance, private passwords, or any other kind of data loss or hack.

Why choose Binance Custody?

Choosing Binance Custody was an easy choice for LABEL Foundation because of its aforementioned safe cold storage solution. As LABEL is all about revolutionizing the music industry through Web 3.0 technology, integrating with Binance Custody provides another level of security by protecting users’ $LBL tokens with the institutional-grade digital asset management infrastructure and security features. Once again, this provides some much-needed peace of mind to LABEL’s customers as reliable security measures have quickly become mandatory for any project in this industry. According to CSO Hyung Soon Choi, there will also be discussions on potentially considering further strategic collaboration with Binance Custody and the broader Binance Ecosystem.

What is Binance Custody?

Binance Custody is widely considered to be a top service as it is completely regulated, insured and effortlessly integrated with the overall Binance ecosystem. Fully customized solutions are offered via the service, as it essentially acts as an uncompromising platform between top-notch security and a simple as well as efficient user experience which provides a customizable multi-permission scheme. This in turn enables institutions and individuals alike to operate crypto assets in a systematic, secure and controlled manner.

The core technology behind Binance’s Custody is additionally certified to ISO 27001 and 27701, the world’s most recognized and sought-after quality control standards for information security and privacy, which is yet another reason as to why so many are actively choosing Binance Custody.

About LABEL Foundation

LABEL Foundation is a blockchain-oriented NFT copyright fee sharing platform that supports investment, distribution and advertising processes, removes significant barriers to modern content production and investment, and strives to eliminate the biased profit sharing structure that currently exists in this industry.

Essentially, LABEL Foundation represents an incubation system designed to disrupt the DeFi industry and it uses the native $LBL token, which is Ethereum-based governance and utility token, to do so. The native token may also be used in a variety of ways to help bolster the expansion of the LABEL ecosystem. Furthermore, the tokens are mainly used to establish the basic token economy of the platform by acting as payment, staking and governance entities. Lastly, the DAO (Decentralized Autonomous Organization) voting infrastructure allows contributors to claim profits via the non-fungible token shareholding system, which adds a strong sense of community that is actively associated with LABEL and everything that it does.

For more information and regular updates, be sure to check out the official website and Medium, Telegram and Twitter channels.

The Much Awaited Mind Music Founder Series NFT Collection Is up for Grabs 4080

Mind Music wants to combat the issue of mental illness, which often goes unnoticed, through various ways including releasing tracks. It plans to take the music industry to WEB 3.0, which is the World Wide Web on blockchain technology. After being a hit and receiving promising reviews from influencers and artists across the globe, Mind Music has launched its much-awaited Founder Series NFT Collection.

The total number of unique NFTs available is 1010, of which 1000 would be publicly available while the remaining 10 would be team-owned or for giveaways. The collection has already been a rage, and more than half of the NFTs have been sold after launch. Along with these, there would be 10 exclusive legendary NFTs hidden within the publicly available ones. These offer attractive rewards and benefits to holders. The Legendary NFTs would be a great collectable for music lovers and those who want to contribute to the cause of mental illness. If you are still uncertain about minting a Mind Music NFT, here are some reasons that will change your mind.

Physical Copy of Mind Record’s First Album

One of the biggest benefits of minting a Mind Record’s NFT is that every holder receives a physical copy of Mind Record’s first album. For every NFT purchased, a limited edition of Mark Hamilton’s record will be sent out, both as a CD and a digital download package. And this is exclusively for NFT holders, so there’s no other way you can get your hands on the limited edition package.

Earn passive income by just holding the NFTs

Every NFT holder will also receive their share of the 1% reflection from Mind Music transactions. It contributes to a steady passive income earned without any regular participation.

Gain free entry to upcoming events

NFT holders will gain entry to all upcoming events and concerts free of cost. It’s a treat for music lovers! Also, if you manage to mint a legendary NFT, the rewards get even better. Investors holding the Legendary NFT will receive free food and drinks, exclusive access to all areas, and the chance to meet the performing artists.

20% discount on all Mind Record products

Those holding the Mind Music NFT will get a 20% discount on all products and merchandise for life. This includes tickets, CDs, Vinyl, and a lot more.

Receive a share on every NFT traded

For every NFT sold, a 10% fee is collected through smart contracts, and this amount will be used to purchase the Mind Music token. All tokens purchased will automatically be distributed amongst the NFT holders. This is another way to earn a steady income by simply holding the Mind Music NFT. Also, since the rewards are directly proportional to the number of NFTs, the more you hold, the higher the rewards.

Contribute to a cause

10% of the amount collected through the sale of NFTs will be donated to Mental Health Charity. So, by purchasing a Mind Music NFT, you are contributing to a cause that’s affecting millions across the globe each year.

Also, with the Staking protocol in the picture, investors stand a chance to earn as high as 75% APY. Staking is one of the most effective methods to obtain a passive income and is a favorite amongst token holders. To earn through Staking, users will have to connect their wallets and deposit their tokens in the staking pool. Earning rewards couldn’t have been any easier!

Mind Music has already achieved a lot ever since it came into being and plans to expand further in the coming days. To achieve that goal, it will transition into a multi-chain token by the end of June 2022. Once that’s done, token holders will be able to switch tokens between chains easily using the bridge. Also, the Mind Music token will start trading on Ethereum, Avalanche, Polygon, BNB, Cronon, and Fantom blockchain in the coming days.

MoU Established By Clesson, The Company Behind LABEL Foundation, With CJ Entertainment & Media 4203

MoU

Clesson, the operating company behind OPENTRACK and LABEL Foundation, has officially established a memorandum of understanding (MoU) with CJ Entertainment & Media. The new collaboration has the potential to benefit both parties involved as CJ Entertainment & Media is essentially an entertainment and mass media organization founded by the CJ Group, which is among South Korea’s major conglomerate corporations.

What is there to know?

Joining Clesson is Hen, the composer of the Netflix serial ‘My Liberation Notes’. Hen is from O’PEN CJ Entertainment & Media has reportedly joined LABEL Foundation’s operating company after Clesson successfully managed to enlist the services of the renowned composer as part of the collaboration, much to everyone’s delight as Hen has performed in a number of South Korean music projects and is also well known for creating the soundtrack for the aforementioned Netflix series.

Clesson also serves as the main operating company behind OPENTRACK, which is at the center of both Web 2.0 as well as Web 3.0 online music education. With that in mind, Clesson shall work alongside CJ ENM to successfully onboard ‘O’PEN Music’ artists into ‘OPENTRACK Music’, thereby bringing them into LABEL Foundation’s respective ecosystem.

Important details about the partnership

The strategic collaboration will commence with the creation of an OPENTRACK Music course which shall be taught by Hen. Moreover, OPENTRACK will be in charge of the MasterClass’s production and content, whereas Hen will be responsible for presenting her creative songwriting process for K-dramas and movies, which also includes composing a melody, selecting chord progression, and preserving song quality.

In addition, through the onboarding of CJ ENM O’PEN artists, the new collaboration will pave the way for continued beneficial synergistic growth for both companies. Many believe that the CJ ENM network has tremendous possibilities for building MasterClasses with OPENTRACK which has since also sparked interesting discussions about future cooperation with LABEL Foundation as well.

About LABEL Foundation

LABEL Foundation is a blockchain-oriented, NFT copyright fee sharing platform which presents an incubation system to support investment, distribution, and promotion processes in order to dissolve significant obstacles to contemporary content production and investment as well as to deconstruct the biased profit distribution structure which currently exists in this industry.

It uses the $LBL native token, which is an Ethereum-based governance and utility token which may be utilized to fuel the expansion of LABEL’s ecosystem in various ways. The token is therefore mainly utilized to establish the platform’s fundamental token economy by functioning as a governance, staking and payment unit.

Clesson and OPENTRACK, regarded as a systematic and practical music education firm in South Korea, has therefore joined LABEL and features over 200 professional teachers in Korea and 25 top musicians from 7 major nations across the globe.

For more information and regular updates, be sure to visit the official website along with the Twitter, Telegram, Facebook and Medium channels.