Blockchain, cashgames.bitcoin.com, ConsensYs, games.bitcoin.com, NFT marketplace, Poker, poker bitcoin, Theta Network, Virtue Poker, WPN, WPT

Gambling may be no stranger to the blockchain, but poker’s appeal amongst players has only expanded further as poker sites embrace bitcoin and Covid-19 moves gameplay increasingly online.

Famed Game Puts Spotlight on Varied Blockchain Use Cases

Although online betting and gaming were already widely popular before the emergence of blockchain, as the technology has played a pivotal role in gaming’s ongoing transition.

Online poker was one of the earliest games to join the blockchain framework due to the inherent fairness and equity that accompanies distributed ledger technology, not to mention the legal woes it faced.

Blockchain, cashgames.bitcoin.com, ConsensYs, games.bitcoin.com, NFT marketplace, Poker, poker bitcoin, Theta Network, Virtue Poker, WPN, WPT

Users from all over the world could join these platforms and verifiably trust that their funds would be kept safe. The discretion of using bitcoin to transact didn’t hurt either, given the anonymous nature of this payment method, allowing players restricted by regulation and geography to participate.

Bitcoin and blockchain have become a mainstay of the poker ecosystem, but the industry’s innovation is far from over.

An Explosive Space

Bitcoin payments have attracted many players, mainly from the U.S., given that most US states still prohibit gaming sites from operating within their borders. Since the “Black Friday†event, which banned popular poker sites from the United States, offshore operations have thrived, and bitcoin has played an outsized role. For instance, non-U.S. citizens will notice that Bitcoin.com hosts a wide variety of popular casino games including virtual poker via cashgames.bitcoin.com or games.bitcoin.com.

Blockchain, cashgames.bitcoin.com, ConsensYs, games.bitcoin.com, NFT marketplace, Poker, poker bitcoin, Theta Network, Virtue Poker, WPN, WPT

Another operator that has reaped the rewards of this shift is Winning Poker Network (WPN). The company, which manages a poker site portfolio, started accepting cryptocurrency deposits in 2014 and currently allows users to withdraw in bitcoin when cashing out. These days, WPN purportedly buys upwards of $100 million in bitcoin per month to meet demand from players.

Other platforms are also entering this explosive space, and among them is Virtue Poker. This Ethereum-based poker platform now commands a gaming license from the Malta Gaming Authority, allowing it to legally operate in multiple markets after becoming the first blockchain-based entity to accomplish this feat.

Fresh off a $5 million funding round raised from Pantera Capital, Consensys, DFG Group, Jez San from Funfair, this Conensys-based project has already received glowing endorsements. Besides counting on famed player Phil Ivey as a brand ambassador and stakeholder, Virtue Poker is very closely linked to Ethereum thanks to Joe Lubin’s role as the founder of Consensys.

The organization, which acts as one of the essential business development and money function conduits for the Ethereum network, helps assure that Virtue Poker’s platform is as transparent and secure as promised ahead of May’s mainnet launch.

Real-Time Poker NFTs Arrive

Besides wagering on the game itself or using cryptocurrency for payments, many other uses for blockchain have arisen in the poker realm, among them digitizing collectibles and events.

Blockchain, cashgames.bitcoin.com, ConsensYs, games.bitcoin.com, NFT marketplace, Poker, poker bitcoin, Theta Network, Virtue Poker, WPN, WPT
Theta network Edge, Guardian, and Enterprise nodes.

To this end, decentralized video delivery platform Theta Network is making serious inroads in the poker industry. The platform has partnered with World Poker Tour (WPT) to stream specific events and feature real-time NFT drops and auctions through its Thetadrop NFT marketplace for the event’s 140 million-plus viewers.

During the live broadcasts, users will be prompted to visit the marketplace to purchase exclusive collectibles and join a live auction for an NFT, which will capture a unique moment during the event. The marketplace promises fast transaction speeds, low fees, and high interoperability with other blockchains, making it possible for NFT-holders to move between supported networks seamlessly.

Although Covid-19 might have been a big spark that lit heightened demand for online poker, the industry’s embrace of blockchain and Bitcoin together will help lead the way for novel use cases that will ultimately benefit players and the game’s budding popularity.

Do you have experience with “bitcoin poker� Let us know how the experience in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Du lịch nhật bản, hướng dẫn du lịch Nhật và đánh giá địa điểm Nhật Bản Japan travel news, japan travel guides, japan holiday destinations and japan reviews

RELATED NEWS

It’s Time: UFC to Launch Fan Token for Millions Around the World

UFC, the world’s largest MMA promotion, is preparing to mint its own token. The company, which has played a key role in the rise of the combat sport’s popularity, now wants to provide a growing fan base with access to exclusive content, rights, and rewards using blockchain technology. UFC Fan Token to Have a Maximum […]

Xem chi tiết: It’s Time: UFC to Launch Fan Token for Millions Around the World

Star Wars Collectibles Go Digital as Collections Embrace NFTs

More than 800 limited edition collectibles, some from shooting scenes, are set to go to auction on the Starcoll NFT marketplace, as a large collector leverages blockchain technology for one of the most storied movie franchises in history. Early Registration Timed for May The 4th (Be With You) In a growing sign of the times, […]

Xem chi tiết: Star Wars Collectibles Go Digital as Collections Embrace NFTs

Southeast Asia’s Largest Bank DBS Says Trading Volumes on Its Cryptocurrency Exchange Have Increased 10 Times

DBS, Southeast Asia’s largest bank, says that cryptocurrency trading volumes on its exchange have grown 10 times to around $30 million to $40 million. The bank is also collaborating with JPMorgan on a blockchain settlement platform and plans to launch its first security token offering in the second quarter, its CEO has revealed. DBS’ Crypto […]

Xem chi tiết: Southeast Asia’s Largest Bank DBS Says Trading Volumes on Its Cryptocurrency Exchange Have Increased 10 Times

Spanish Healthcare Group to Accept Cryptocurrency Payments, Citing Interest in ‘Bitcoin Revolution’

Cryptocurrency regulation is still an ongoing topic for the Spanish government and regulators, with some not too friendly measures against crypto ads or enhancing tax rules. However, adoption is on the rise in different industries, and the healthcare sector is joining the frenzy. Patients Could Pay With Digital Assets Starting June 1 According to Forbes […]

Xem chi tiết: Spanish Healthcare Group to Accept Cryptocurrency Payments, Citing Interest in ‘Bitcoin Revolution’

A South African NFT Marketplace Officially Launches After Trial Phase Nets Over $10,000 for Rugby Star Bryan Habana

A South African non-fungible token (NFT) marketplace, Momint has officially launched following the end of the two-week trial phase which saw the artwork of former rugby player Bryan Habana fetch over $10,000. More than 800 people from 25 countries took part in the auction. The Momint marketplace, which has been developed as a social media […]

Xem chi tiết: A South African NFT Marketplace Officially Launches After Trial Phase Nets Over $10,000 for Rugby Star Bryan Habana

Cardano Blockchain Infrastructure Selected in a New Drive to Bring Sustainable Internet Connectivity to Zanzibar and Tanzania

In its foray into Africa, Input Output, a research and development product engineering company, says it will partner with World Mobile Group in a new initiative aimed at bringing sustainable internet connectivity to users in Zanzibar and Tanzania. According to the partnership agreement, the Cardano blockchain infrastructure will be used to provide affordable network nodes […]

Xem chi tiết: Cardano Blockchain Infrastructure Selected in a New Drive to Bring Sustainable Internet Connectivity to Zanzibar and Tanzania

Cardano Blockchain Infrastructure Selected in a New Drive to Bring Sustainable Internet Connectivity to Zanzibar and Tanzania

In its foray into Africa, Input Output, a research and development product engineering company, says it will partner with World Mobile Group in a new initiative aimed at bringing sustainable internet connectivity to users in Zanzibar and Tanzania. According to the partnership agreement, the Cardano blockchain infrastructure will be used to provide affordable network nodes […]

Xem chi tiết: Cardano Blockchain Infrastructure Selected in a New Drive to Bring Sustainable Internet Connectivity to Zanzibar and Tanzania

European Investment Bank Distributes $121 Million in Ethereum-based Digital Bonds

The European Investment Bank (EIB), the investment bank owned by the EU Member States, has announced the issuance of the organization’s first-ever digital bond built on a public blockchain. The bond was issued using Ethereum and the issuance invoked $121 million two-year bonds placed with key market investors. EIB Issues Digital Bonds Built With Ethereum […]

Xem chi tiết: European Investment Bank Distributes $121 Million in Ethereum-based Digital Bonds

Ethiopia Links up With Cardano Creator to Launch the Country’s Biggest Blockchain Deployment Yet

Ethiopia Links up With Cardano Creator to Launch the Country’s Biggest Blockchain Deployment Yet

Hip-Hop Legend Eminem Launches Beat-Inspired Animated NFTs for Stans

Ripple’s Chris Larsen Believes Bitcoin Dominance Could Fall Over Proof-of-Work’s Energy Consumption

Blockchain Object Storage Company Filebase Raises $2M, Aims to Incorporate Filecoin and Arweave Networks

Hip-Hop Legend Eminem Launches Beat-Inspired Animated NFTs for Stans

Ripple’s Chris Larsen Believes Bitcoin Dominance Could Fall Over Proof-of-Work’s Energy Consumption

NFT Weekly Roundup: Polygon’s Sustainable Minting, Oscars NFTs, And, Yes, Poop Emoji NFTs