Crypto Casino EOSBet, One of the Most Popular EOS dApps, Receives Online Gaming License

Siamak Masnavi
  • 2 Dec 2018
  • /
  • In #EOS

EOSBet, one of the most popular EOS dApps (by daily number of users and 24-hour volume), has become the world's "first licensed on-chain blockchain casino."

On Friday (30 November 2018), EOSBet announced that it had "secured an official certification from one of the world’s oldest and reputable online gambling regulator, Curaçao eGaming," which has a Master Gambling License from the island nation's Ministry of Justice; this means that Curaçao eGaming "has exclusive powers that allow It so sub-license other gambling platforms.."

The Curacao gaming license allows EOSBet to "operate all forms of interactive gambling," and makes the company "the first of its kind to receive a license" and "benefit from the trustworthiness instilled in it thanks to the recognition of a respected gambling authority."

According to DappRadar, as of press time, in the past 24-hour period, EOSBet had 3,522 users, and a volume of 332,954 EOS (approximately, $972,225). Furthermore, EOSBet says that since it went live in late August, "users have made almost 10 million bets, with a total of over 70 million EOS wagered." 

By comparison, the most popular dApp on Ethereum, decentralized exchange IDEX, for the same 24-hour period, had 813 users, and a volume of 2,152.96 ETH (approximately, $251,901).

Crypto casino EOSBet is "an on-chain gambling dApp,in which "players can wager their EOS tokens on either a dice throwing game or a uniquely designed baccarat game."

EOSBet Baccarat Screenshot.png

EOSBet says here's how it uses smart contracts on the EOS blockchain to offer "provably fair betting":

  • "Every bet you place with us is secured by our novel randomness generation technique. You may submit your own seed, or leave it blank. Your bet will receive a unique ID in a smart contract, which will be signed by our server with a predetermined secret key."
  • "This signature will be passed back to the smart contract before being verified that the correct secret signing key was used. The contract will then derive a deterministic random number from the signature, which will be used to resolve your bet."

Finally, this crypto casino wants to be known as the first "community-driven online casino;" holders of its native utility token, BET, "receive instant dividends in EOS, collected from 100% of the profits made on EOSBet." The payouts "are calculated and distributed based on the number of BET a token holder owns." As of 26 October 2018, reportedly, EOSBet had paid out $1 million in dividends (roughly two months after it started its operations).

Images Courtesy of EOSBet

New Java and Swift SDKs for EOS Released By Block.one

Block.one, a Cayman Islands-registered firm that publishes open-source software for deploying decentralized applications (dApps) on EOS, one of the largest cryptocurrency platforms, has published a blog post in which it noted in a “very short period of time,” there has been “an explosion of innovative EOSIO web applications.”

EOSJS Downloaded Over 5,000 Times

The significant increase in the number of new apps launched may be attributed to the availability of EOSJS, which has reportedly been downloaded more than 5,000 times. As noted in Block.one’s blog, posted on May 17th, 2019, EOSJS provides JavaScript software architects with the tools required for building dApps on the EOS network.

SDK For Swift And Java Programmers

According to Block.one, native applications installed on smartphones are increasingly being used as they provide “richer, more engaging experiences” when compared to web-based apps.

In order to provide developers with the tools needed to create native mobile apps, Block.one has released two different software development kits (SDKs), one for Swift and another for Java programmers.

As mentioned in Block.one's blog, the SDKs include native APIs which may be used to interact with EOSIO blockchains. Additionally, the Swift and Java SDKs may assist developers in “creating, signing and broadcasting transactions” on the EOS mainnet.

Other features related to “handling keys and obtaining signatures” and “data serialization/deserialization” on EOS’ blockchain may also be implemented using the Swift and Java software toolkits.

EOS’ SDKs Provide “Great Deal Of Flexibility”

By allowing developers to create apps for Android and iOS using both the Swift and Java programming languages, Block.one aims to promote the development of “compelling, native EOSIO-powered experiences” for mobile phone users throughout the world.

Block.one’s latest SDKs provide “a great deal of flexibility” which has been borrowed from the EOSJS library. These new features, the software development company explained, allow developers to write programs for “a variety of use cases and environments — that of independent, interchangeable providers that plug into one core library.”

According to Block.one's blog, the core EOSIO SDK for Swift and EOSIO SDK for Java libraries may be used to “facilitate the transaction lifecycle.” They also provide “easy and idiomatic ways of creating and working with transactions, collecting the necessary signatures, and preparing and broadcasting those transactions to EOSIO nodes,” Block.one noted.

Signature Provider Feature

The software publisher also mentioned that the “Signature Provider” is one of its most “flexible provider abstractions.” The Signature Provider is used to determine which keys are available for signing and also for “requesting and obtaining the signatures required for the transaction.”

As explained in Block.one’s blog. a signature provider allows anyone requiring a signature from keys residing in the platform’s key store or “secure hardware signing element” to “configure the transaction with a signature provider that does it.” This is a useful feature because developers need not be concerned with “handling and securing a user’s private keys.”