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What is Etheroll
People have enjoyed playing dice for hundreds if not thousands of years. The first dice to ever be played is believed to have been in Egypt where samples were excavated many years ago. However, excavations from Burnt city, an archaeological site in southeastern Iran, are also believed to be equally as old. Most of the earlier dice were made of bone, ivory, amber, and porcelain among other materials. Dice games were commonly used for the purposes of entertainment or for casting lots to determine the future.
As the game spread to other parts of the world, it became even more organized and regulated. This is especially evident during the 16th century where Italians such as Galileo and Giloramo Cordano put dice under mathematical analysis. They were able to successfully develop the basic concept of probability and randomness which is used to date. This was a major contributor to an impressive evolution in dice gambling, from mere simple games to more systematic and organized physical games. As if that was not enough, about a decade ago, creators brought yet another twist to playing dice by introducing online games. The reception was quite good and now most players prefer playing online compared to physical games. This is because of:
Etheroll operates on Ethereum blockchain with a current market supply of 7,001,623 DICE. As at the time, this article was written the last known price of Etheroll was $0.593472 USD with its total market cap being $4,155,264 USD.
On 7th June 2017, Etheroll’s experienced its all-time high which was $165.10 USD. However, within the same month (10th June) it also got to experience its all-time low which was $0.002514 USD.
Advantages of Etheroll
1. Easy to Use
Users who intend to play the dice game need not sign up or pay any deposit. As long as you have basic computer skills, the platform is easy to use and operate. It provides users with easy to read and follow instructions which will guide you when using the platform.
2. Fair and Reliable
Each dice roll is completely random and cryptographically secure which can be attributed to Ethereum blockchain. There are no hidden motives or manipulated outcomes from all games found on the platform.
3. Players Set Their Odds
Etheroll’s platform allows players to set their own odds as per their individual risk profile thus handing them more power to be in control of their games. A similar gameplay concept is evident in "SatoshiDice style" of dice gambling in Bitcoin.
4. Cryptographically Secure
The Ethereum blockchain is known to be highly secure with few cases of hack attacks. The platform uses Oraclize.it to receive integers from external sources in the blockchain via Random.org and TLSNotary. The Etheroll smart contract then takes over and performs SHA3 encryption so as to attain the final dice result. This makes dice games within the Etheroll platform secure hence users can play without the worry of unwanted persons interfering with their games.
5. Immediate Payouts
Once you score points, your account is immediately accredited with bonuses earned. You can then access it and use it as you please. The same case applies if you are accorded any extra bonuses or profits.
6. 24/7 Availability
The Ethereum protocol ascertains that the system is always up and running with zero possibility of experiencing downtime from factors such as DDOS attacks, hosting issues and the government among other forms of interruption.
7. In-house Solidity Smart Contract Code
Etheroll’s smart contract was written by the platform’s internal team of experts who can be relied upon to quickly change any details of the contract as deemed fit. This especially comes in handy since the Ethereum environment is subject to frequent changes. Additionally, since the programmers are committed to the platform, they are always working to come up with new and efficient methods to make its dice games even better.
Etheroll’s source code is open and verifiable for any user who wishes to ascertain whether the game does as it claims to do. Additionally, the platform keeps a history of all games ever played within the site. On request, users can go over the details of bets they have placed in the past. This feature eliminates tampering or corruption by external persons.
1. Single Game
Unlike other online casino sites that offer numerous games, Etheroll only provides a single dice game. The game is visible once you visit the platform. Some may find this boring and monotonous.
2. Security, not 100% Guaranteed
In June 2016, just as Etheroll was going on with it's original crowdfund a hacker found a way into Ethereum and managed to siphon about 3.6 million tokens which were valued at $70 million. Since Etheroll platform is based on Ethereum, its creators grew cold feet and decided to suspend the crowdfund and postpone it to a later date. A total amount of $50,000 which had already been raised was refunded to its specific contributors. Though the team dealt efficiently and promptly following the attack, users cannot be a hundred percent sure that the platform will never experience such attacks.
3. Investment not Guaranteed
Gambling is mostly considered a game of luck. Taking in to account the games unpredictability the platform cannot guarantee that you will grow or keep your investment. Therefore, your "luck" and experience in gambling may be what you need in order to accumulate more tokens.
On top of that, if you happen to lose your login credentials and do not have any backup plan, you risk losing all your tokens.
4. Unfavorable Government Policies
Cryptocurrencies have been under scrutiny by government bodies for quite a number of years. Most tokens are said to be unreliable and lack real back up assets. Moreover, they do lack proper government regulation which is important in safeguarding investors interests. For this reason, the use of cryptocurrencies has been banned in several countries. Anyone who intends to invest in cryptocurrencies is advised to use their better judgment before doing so. This is because even though the venture may bring in good returns the safety of their investment is not a sure deal.
5. Insufficient Interest
Contrary to what was initially anticipated by its creators not so many people have embraced the use of Etheroll. This could be attributed to poor marketing techniques as the platform is not very common among social media circles and the cryptocurrency network. Lack of popularity has limited the number of tokens circulating the market and Etheroll’s growth as a whole.
Need to Play?
As mentioned earlier, you are not required to sign up or pay any deposit upfront in order to play. However, it is advisable to own some DICE tokens as it will grant you special rights within the platform. For example, you will be eligible for a user’s proportionate profit with a 1% house edge advantage. This means that if you hold tokens which amount to let’s say 5% of all the tokens, you are able to earn 5% of profits generated by the bankroll. Your share of profits is added to your account after every twelve weeks. So, whether you win or lose on your bet, the 1% house edge is always there.
What’s more, owning DICE tokens will make you eligible to vote on proposals presented by Etheroll’s team.
You can freely buy Ethereum tokens via EthaDelta. They are available for exchange against Fiat currencies including USD, CAD, AUD, GBP, and EUR among others. After purchase, you will need a digital wallet to store your coins. While some exchanges allow you to store in their platform, it is considered more secure to keep them in an external wallet.
How to Play
Once you have the Metamask extension or Mistbrowser installed and activated as per instructions, revisit the site. There, you will see the game’s interface divided into three columns. You will be asked to place the amount you wish to bet. It is okay to place as much money as you wish, however, the minimum allowed is 0.01ETH. You are then allowed to adjust your chance of winning.
In the second column, you key in the number you wish to roll under. The amount you are bound to win if your prediction comes true and your displayed wager automatically appears under the digit. You then roll the dice and wait for the result in the third column.
Do not be surprised if the amount you receive after winning is slightly lower, Ethereum deducts a 1% commission for every win which goes towards maintaining the platform.
Development of game code & website
In-house game testing
Development of crowdfund code
DICE token listed on exchanges
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