Veil, an Ethereum-based predictions platform using the Augur marketplace, has shut down.
Gambling is a game of chance that minimally depends on players’ skills, with its main purpose being to gain money or other material values. Gambling is restricted in many countries. As the use of virtual currencies has spread almost everywhere, cryptocurrency gambling has also become more popular among users. Because all digital currencies are decentralized, it seems difficult to regulate it in order to create a user-friendly environment in the games. Also, the decentralization of cryptocurrencies makes it almost impossible for governments to trace the use of money, because Bitcoins are stored on the players’ computers. There already exists some online games that accept Bitcoin with ability to exchange it for internal tokens or use it as the main currency of the game. Besides Bitcoin, there are also sites for gambling with Ethereum and other Altcoins. However, the future of cryptocurrency gambling is still uncertain.
- Rep. Waters Opens Libra Hearing With Indictment of Facebook's Past Mistakes
- Facebook’s Marcus: Libra to Satisfy All Regulatory Matters Before Its Launch
- Reddit Co-Founders’s Fund Leads $3.75M Round for Blockchain Gaming Studio
- Tor Project’s Bitcoin Crowdfunding Campaign Hits Goal in 25 Hrs
- Tether USDT is Launching on a ‘Pure PoS’ Blockchain, Algorand