CoinPoker is a blockchain technology-based poker platform that uses USD pegged stablecoin USDT as the in-game currency and the CHP token is the currency of the CoinPoker economy.
Everyone knows that gambling is of course, well… a gamble and that the odds are rarely in the player’s favour.
This doesn’t ever stop people from gambling of course.
Real-life gambling in a casino, not a roulette table or slot machine but a card game like poker presents less of a risk when it comes to the cards that are dealt.
The player can see the cards being shuffled and dealt in front of their eyes and it is purely down to chance what cards the player and dealer get and then a mixture of chance and skill when the poker hand is played.
When it comes to online poker this is not the case, it’s software that handles the dealing of cards and software is of course programmed and programmers can make the software perform however they want it to perform.
This makes things way less certain for players, add to this the fact that online poker is big business and operated by large organisations whose aim is to make money it may understandably create some doubts amongst the player community.
In online poker players watch a shuffling animation on screen and have to believe in the poker room’s integrity.
In an industry where cheating on both sides is accepted as part of the cost of doing business any form of transparency surely has to be welcome, for players at least.
Could crypto and blockchain technology bring more integrity to the online poker game?
Crypto and blockchain technology is able to provide the kind of secure underpinning required for such an endeavour.
With this in mind, CoinPoker is out to level the playing field so to speak using crypto blockchain technology.
CoinPoker recently released their decentralised random number generating (RNG) software to combat one of the most prevalent issues in gambling, a lack of transparency in in-game mechanics.
Over 60,000 users have played on CoinPoker since their launch in November 2017 and over 56 million hands have been played.
While ultimately growth is a key driver for CoinPoker as with most businesses, the community is at the heart of CoinPoker’s key strategic decisions, very much in line with many of today’s top crypto projects where the community at large is actively involved.
This is a far cry from the centralised online gaming platforms where there is the provider (the business) and the customers (the players).
By investing in innovative blockchain and cryptographic technology CoinPoker can offer a potentially more transparent and perhaps fairer platform on which players from all over the world can participate and the platform can be held accountable at least to a certain degree.
Coinpoker uses the same cryptographic hash function as used on the Ethereum network, KECCAK-256
The technology behind CoinPokers’ decentralised random number generator (RNG) uses the same cryptographic hash function used on the Ethereum network, KECCAK-256 to securely transmit card shuffling information to players which can thereafter be verified via a validation tool.
Applying the KECCAK-256 cryptographic hash function to their random number-generating algorithm makes CoinPoker’s new RNG module virtually impossible to reverse engineer.
In addition, it includes the involvement of all the players at the table in the shuffling process as opposed to solely the poker room behind the scenes.
In essence, the players can choose whether to participate or not at the start of each hand, as soon as they choose to participate, a secret seed value is generated and sent to all the players and also CoinPoker behind the scenes.
CoinPoker then uses the values to generate a final seed value which acts as the input for the random number generator (RNG) and this results in the final order of the card deck.
After a hand is played, the players can verify the randomness of the deck and also see the undealt cards that would have been in play.
Currently, CoinPokers CHP tokens are listed and available on KuCoin, HitBTC, ForkDelta and Yobit net.
CoinPoker users can deposit their tokens on the CoinPoker platform or in their private wallets. As CHP is an ERC-20 token it makes it compatible with most Ethereum wallets
Coinpoker uses USD pegged stablecoin USDT as the in-game currency. Transactions can be made using USDT, ETH, BTC or CHP tokens.
Crypto and blockchain technology is disrupting many industries and online gaming is no exception! The underlying technology and genuine community-driven approach so common in the crypto world looks to be a refreshing change in the world of online gaming.