What future awaits Bitcoin casinos with the rise and potential migration of Blockchain and 5G technology?
Blockchain technology has impressed global companies with its solutions that enable various industries to improve and evolve. From banking to healthcare, blockchain reshapes the landscape of almost all sectors. Also included is the online gaming and iGaming sectors.
Effects of Blockchain to Online Gambling
Over the years, players are fortunate to now have many options to choose from with how they play games or bet wagers. From traditional online casinos, the iGaming community welcomed Bitcoin casinos and later on was introduced to blockchain casinos or decentralized apps (dApps). Even leading game creators like Ubisoft explores blockchain technology now.
Decentralized casinos and dApps brought something new to the table – the ability to play in a convenient and safe environment. Players can securely transfer money between accounts, and they can trust that the casinos do not manipulate the games and the results as all actions performed are recorded on the blockchain.
It is these core benefits – speed and security – that blockchain technology has immensely improved the fiat-money and cryptocurrency gaming landscape. But with the advent of 5G technology, online Bitcoin casinos are bound to experience more improvements.
While the integration of blockchain technology is yet to be the biggest thing in iGaming today, many industry experts and insiders believe it will rule iGaming in the future.
GPWA Program Manager Maria Florides told BestBitcoinCasino.com:
“This technology is the future, because it does provide a greater level of transparency for players and affiliates. I think the reason why you don’t see a large number of operators using this technology is because their focus is not on the end user’s experience, therefore they don’t see the need to invest on it. There will always be the need for traditional online operators, but we will see a larger demand for blockchain and crypto technology in the coming years.”
What is 5G technology?
- In simple terms, 5G stands for 5th generation mobile network and succeeds 4G technology introduced in 2009.
- 5G is the technology that will establish strong connection among individuals as well as enable massive Internet of Things (IoT).
- 5G technology features high speeds, negligible latency, and superior reliability.
Compared to 4G, 5G boasts much better features, including faster speeds, larger capacity, and significant lower latency. It is also able to use spectrum much better and offers a more capable unified platform.
Benefits of Blockchain and 5G to Bitcoin Casino Market
Blockchain technology made waves in the years. This year, it is 5G technology’s turn. And when these two technologies combine, which is inevitable, the Bitcoin casino market is in for a surprise.
Crypto payments will be much faster.
One of the challenges Bitcoin casino players experienced in the past years is the slow transaction speeds when using BTC in online casinos. This is because some Blockchains, specifically the BTC Blockchain, are not scalable. 5G can change this as it can help blockchains to effectively manage transactions speeds through its improved capacity and speeds as well as reduced latency.
Smart Contracts will be effectively used.
While several decentralized casinos or dApps already exist and impress the gaming community, there is still room for improvement. And this is where 5G can step in. It can unlock the potential of Smart Contracts and ensure reliable and faster transfers of data from oracles. As a result, blockchain casinos can provide faster and better services to their players across the world. This means that blockchain casino games will yield reliable results at a much faster speed and will be accessible to a much larger network globally.
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As 5G technology is now available, the Bitcoin casino sector can now expect how else it can benefit from the merging of two powerhouse technologies—blockchain and 5G. Evidently, more undiscovered markets will soon unravel as blockchain and 5G reach their maximum potential. These two technologies may be the newest stars of the upcoming futuristic Akon City spearheaded by international rapper Akon.
If you’re interested in getting an updated 2020 list of all Bitcoin casino reviews for this market, check out the casino review section.