The world’s first peer-to-peer cryptocurrency dicing platform, Ethbet, is finally launching its much-anticipated crowdsale this Sunday on September 17th at 8PM UTC. Ethbet will be the first cryptocurrency gambling platform that allows players to bet directly against each other instead of against a house, allowing it to charge lower fees than all of its competitors.
Although its novel peer-to-peer nature is no-doubt one of the main attractions of Ethbet, there are other interesting plans that have been announced, including support to gamble any Ethereum-based token, another concept that none of its competitors have yet to adopt. As Ethbet is being built on top of the Ethereum blockchain, it is able to provide provably-fair betting and on-blockchain bet execution, giving its users a guarantee of fairness and transparency as well as removing the need for deposits and withdrawals. Ethbet also has a cleverly-designed off-chain matchmaking service that allows users to efficiently and quickly communicate their bets with others. This allows Ethbet to benefit from the immutability, transparency, and security of the blockchain, but without having to experience the full downsides of slower transactions and higher fees.
Ethbet hopes to use these features to its advantage in its quest to become a major player in the world of cryptocurrency gambling. With the online gambling industry being worth over $50 billion, Ethbet hopes only to capture a small portion of this booming market in order to become a substantial success.
With a much lower crowdsale hard-cap than most conventional ICOs of only 5,000 Ether, investors are patiently waiting for September 17th so that they can have their chance to contribute. Historically, tokens related to gambling and dicing have exhibited substantial performance, including similar projects like Etheroll and vDice, giving their initial investors returns of 6,000% and 1,950% respectively. As Ethbet already has a functioning off-blockchain demo and a detailed technical whitepaper, it has captured the interest of many who now intend to participate in its fundraising event this Sunday.
The Ethbet Crowdsale will begin on September 17th at 8PM UTC and has a maximum contribution amount of only 5,000 ETH. After this amount is reached the crowdsale will permanently close to new investors and additional tokens will never be minted. To learn more about the Ethbet project, check out their whitepaper at https://ethbet.io/whitepaper.pdf and the Ethbet website at https://ethbet.io/.