Bitcoin SV: The Future of Casinos
With casinos all over the world closing down because of the COVID-19 pandemic. Many are wondering what will happen to the age-old game of betting. As everything shifted online during the past year. Casino goers are also going online to look for ways to either earn money or just pass the time.
The good news is that Bitcoin SV can accommodate iGaming on blockchain, and developers are realizing that this is the future of casinos. BitBoss, “an international team of gaming experts, blockchain innovators and technologists building technology to power the future of gaming and the new Internet,” has released the first ever blackjack game run entirely on the Bitcoin SV blockchain.
“Like with our other offerings, every single bet and bet result for our blackjack game is a transaction on the Bitcoin SV blockchain.
But with blackjack, we go further, because blackjack is a multi-action game; choosing to buy insurance, doubling, splitting, standing—every action is recorded as a blockchain transaction. This has a ton of benefits because everything is provably fair. You don’t have to build off-chain technology and try to scale it. Everything is on the Bitcoin SV blockchain,” BitBoss CTO Alex Shore explains.
Casino games have to operate in real time. Translating the entire casino experience to the blockchain is not an easy feat. The BitBoss team has spent a long and tedious design and development process that involved meticulously taking into consideration the present technological innovation, as well as limitations, to find the best solutions and successfully integrate iGaming on blockchain.
“Blackjack gets a little more muddied up. Because you’re making decisions as the game goes on, and you may get an immediate hand that you stand on. But you also may start drawing additional cards, or you may start hitting.
You can hit a two, or a three, or an ace, and they’re all low-value cards, so your blackjack hand is going from 10 to 12 to 13 to 15 and you won’t stop until you hit 16—and every one of those times you take a hit is an extra transaction,”
BitBoss CEO Matt Dickson further explains.
Because we tie all that together, we end up eventually running into this chain limit,”
This chain limit occurs because all of the money being transferred between the player and operator during on ongoing game is considered to be an unconfirmed transaction until that block is mined and confirmed. Blockchain protocol at present dictates a limit of about 50 chained and unconfirmed transactions. Hence, one of the most difficult tasks that BitBoss had to work around is this chain limit.
“Given that, we do things to give the players more options of having different unspent outputs. Or UTXOs, that they can use to place new bets, and we can start different chains on these different UTXOs. We have a limit where we can chain 50 transactions together (which works out to 25 bets), and we can do things where players can move BSV around. And we end up where we have many different UTXOs to begin a new chain. We might hit the limit on one of these chains, but then we can start another and another,” Dickson states.
The removal of this chain limit is currently being worked on and will be completed in months. With the chain limit gone, there is not stopping iGaming on blockchain to soar to even greater heights and become the future of casinos.