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edgeless.io_

Updated: January 6, 2021

Interview with Edgeless Co-Founder Tomas Draksas

Edgeless is a blockchain based project whose goal is to offer players the chance to play on a decentralized casinos. The platform currently offers 2 fully working products: Dice and Blackjack. In order to play users have to use their native token EDG which is an Ethereum-based token (ERC20 more specifically).

They are only in the initial phase of their project and have a lot of room to grow. In an interview with CasinosBlockchain the co-founder Tomas Draksas addressed some questions regarding their current state of business and how they plan to work on their future ambitions.

1. How do you evaluate your platform from the moment it launched until now?

We launched not that long ago with only 2 games. In the upcoming weeks we will launch more games. The more games we have, the larger customer audience we can take.

2. You have secured a Curacao License. Will you be looking to obtain other well known licenses like Malta or the United Kingdom?

We have a plan to have all gambling licenses and Malta or UK licenses are no exception. We have dedicated resources to working with license related issues every day and getting them is inevitable.

3. In your website it says a sports book will be coming in Q3 of 2018. Will it be blockchain based? What can users expect from this product?

Since sport events are publicly available, trust factor is solved and it doesn’t require any blockchain to maintain trust. So it’s gonna be a traditional  sports book, however people will be able to place bets using cryptocurrencies.

4. As things stand you are Ethereum based. Does Edgeless plan to launch its own network in the future?

No, we do believe that Ethereum blockchain will be dominant blockchain in a near future.

5. The community sees Edgeless and Funfair as competitors. There are some differences in the way both operate. Do you see Funfair as competition?

In mid 2016, Edgeless was the first online casino in the world which started working on Ethereum blockchain. Soon after that dozens of other blockchain casinos appeared. Blockchain technology solves one of the fundamental issues of online gambling industry which is a trust of the system. Everyone can trust the dealer when they see physical cards but there is no 100% perfect way to trust online casino system. In fact, there are dozens of cases when online casinos where caught implementing algorithms to change a card or a dice. Ethereum blockchain is here to change that.

For the past year Edgeless grew so great that Bloomberg stressed Edgeless as the ICO with the biggest ROI. Edgeless climbed to the Top 50 cryptocurrency list with a huge goal to decentralize the whole gambling industry but dropped soon after we started focusing on the development of our own online casino. In fact, nowadays it is almost impossible to implement blockchain technology in the whole gambling industry, because Ethereum is still a young technology which handles only 15 transactions per second (as an example, Visa processes 45000) and it uses 35 times more energy than traditional server-based technology.

In late autumn another blockchain casino player FunFair appeared with a promise to license blockchain gambling technology for every online casino provider in the world. However, there is no answer to how Funfair will implement blockchain technology in thousands of different server-based systems and how implementations will work from the technical perspective. So FunFair is a lousy player in the blockchain community without any practical implementation. We don’t see them as competitors as we concentrate on a single casino and they are concentrating on a faulty dream.

6. Do you think top flight casinos look at platforms like Edgeless as a threat? Will they be forced to adopt blockchain technology in order so stay competitive?

The key differences between classical server based casino games and blockchain games is in the execution process.
In classical cases, the game is executed from a server. And for blockchain games, these are executed directly from the blockchain network. This difference gives us 3 superior features which can be used to improve games.

First of all, distributed networks contain millions of servers which are located all over the world. It becomes almost impossible to shut down the network. No government or 3rd party can influence processing in a decentralized blockchain.

Secondly decentralized application source codes become transparent for its end user. Players can easily check the back-end of an app and be sure that the product they are using is exactly what it claims to be.

Third, blockchain system allows the creation of digital assets and its ownership which was not possible before.

These 3 features lead to 2 main use cases in a game industry. The first one is transparent betting. In traditional betting the random number generation (RNG) is always done in a centralized server, which gives power to an operator to cheat against its own players. In the past the industry had many scandals of cheating operators. Secondly a large share of gambling customers don’t really trust the way the cards are being shuffled. It’s quite a common practice for them to write a comment like “roulette is cheating” or even write to regulators demanding deposit returns. If the game is blockchain based, that means the RNG process becomes public neither the company nor any 3rd party can influence that. So players can rest assured the operator is not cheating.

For this reason we believe top casinos see Edgeless not as a threat but as an inevitable industry change.

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    Blockchain Casino Awards 2022 - Criteria Revealed!

    April 18, 2022

    Blockchain Casino Awards 2022 - Criteria Revealed!

    We’re thrilled to do the Blockchain Casino Awards once again. And, this year they’re better than ever! The Blockchain Casino Awards started as our way of recognizing and rewarding the best in the industry. This year, we saw even more growth across the gambling world. So, trust us when we say – it wasn’t an […]

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    Binance: How the FCA's Warning Won't Affect UK Crypto Players

    June 30, 2021

    Binance: How the FCA's Warning Won't Affect UK Crypto Players

    The FCA's ban on Binance may be concerning, but it has few practical implications for UK casino players. Find out why.

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    Best Bitcoin Gambling Strategies

    January 3, 2023

    Best Bitcoin Gambling Strategies

    Learn how to optimize your game with the best Bitcoin gambling strategies.

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    Best Bitcoin Casinos In Australia

    January 24, 2023

    Best Bitcoin Casinos In Australia

    Learn about 5 stellar Bitcoin casinos accepting Australian players.

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    Bitcoin Slots At Brick And Mortar Casinos

    January 3, 2023

    Bitcoin Slots At Brick And Mortar Casinos

    Bitcoin slots are everywhere these days... except at land-based casinos.

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    Interview With EarnBet's Chief Operating Officer

    January 16, 2023

    Interview With EarnBet's Chief Operating Officer

    "Complete transparency and provable fairness" are the advantages of Dapps.

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    Interview With BGaming's Director, Marina Ostrovtsova

    February 26, 2021

    Interview With BGaming's Director, Marina Ostrovtsova

    "The main point of provably fair games is ensuring their outcomes are random."

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    Casinos Like BitStarz - Top Bitcoin Casino Alternatives

    February 7, 2023

    Casinos Like BitStarz - Top Bitcoin Casino Alternatives

    Looking for a new casino? Check out these 5 crypto-friendly alternatives to BitStarz.

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    Blockchain Casino RNG - Randomness At Blockchain Casinos

    January 3, 2023

    Blockchain Casino RNG - Randomness At Blockchain Casinos

    Are casino games really random? Can blockchain technology improve their fairness?

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    House Edge, Explained - Getting More Value For Money At Blockchain Casinos

    February 2, 2023

    House Edge, Explained - Getting More Value For Money At Blockchain Casinos

    How blockchain technology helps casinos reduce costs, lowering their house edge.

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    Anonymous Bitcoin Casinos

    March 10, 2023

    Anonymous Bitcoin Casinos

    Learn how you can protect your privacy while gambling online at blockchain casinos.

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    Best Bitcoin No Deposit Bonuses (2023)

    May 24, 2023

    Best Bitcoin No Deposit Bonuses (2023)

    Get all the information you need to take advantage of Bitcoin no deposit bonuses.

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    Gambling Dapps, Explained - Are They Really The Future Of Online Casinos?

    May 12, 2023

    Gambling Dapps, Explained - Are They Really The Future Of Online Casinos?

    Bitcoin was cool with the blockchain for transactions. But what if you could build entire applications on the blockchain? This is exactly what Ethereum’s founder thought and then they made it happen. Today, the Ethereum network is the largest smart contract provider, powering enormous projects like OpenSea, Uniswap, Coinbase. And, yes, there are also decentralized […]

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    How Curaçao's New Gambling Regulations May Impact Blockchain Casinos

    January 3, 2023

    How Curaçao's New Gambling Regulations May Impact Blockchain Casinos

    Reputable casinos are likely to come out on top while shadier operators may be severely affected. As part of a financial rescue deal with the Netherlands, the government of Curaçao has committed to introducing a new online gambling regulator by March 2021. Heavily reliant on the tourism industry, the island of Curaçao is expected to see […]

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    The New Paypal Crypto Wallet Might Change Blockchain Casinos For The Better. Here's Why.

    February 2, 2023

    The New Paypal Crypto Wallet Might Change Blockchain Casinos For The Better. Here's Why.

    Discover how Paypal’s entry into the cryptocurrency market can directly benefit you. As recently reported by Reuters, Paypal users are now able to store, buy, and sell Bitcoin, Ethereum, Litecoin, and Bitcoin Cash in their account. Blockchain enthusiasts can then shop and play with cryptocurrencies at the more than 26 million businesses currently on Paypal. […]

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    Online Games On Go Mojo Through Blockchain By FDJ

    March 10, 2021

    Online Games On Go Mojo Through Blockchain By FDJ

    The French Gaming Authority, La Française des Jeux, recently launched an online gaming platform with prizes of up to €100K. This platform is not only powered by blockchain, but also free to use. Only the Mojo counts. Free To Play Go Mojo is the result of a partnership between FDJ and RedPill. The last one […]

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    DAO.Casino – Blockchain Casino Protocol

    January 16, 2023

    DAO.Casino – Blockchain Casino Protocol

    DAO.Casino was formed by a software development team, based in Russia, who is looking to reap the well-known benefits of blockchain technology to implement them on the online gambling industry. Their main goal is to tackle big industry issues like lack of transparency and need for third party involvements to ensure quality. To help build on this, technologies like Ethereum’s Swarm or the IPFS […]

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    Interview with FunFair’s CEO Jez San

    January 16, 2023

    Interview with FunFair’s CEO Jez San

    FunFair is without a doubt spearheading the movement of blockchain technology within the online casino business. The alliance between these two concepts is one that we have covered extensively. Since FunFair is built on the ETH blockchain, it joins the ranks of our Ethereum casinos selection, but it also fits within our general love for […]

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    Blockchain Technical Committee by GSA (UK)

    September 1, 2021

    Blockchain Technical Committee by GSA (UK)

    Earlier this year the GSA – Gaming Standard’s Association – formed the Blockchain Technical Comitee. This is interpreted as a major hint that the GSA will be looking to integrate the technology behind cryptocurrencies onto the online gambling industry. How the committee plans to execute this is still unclear at this point. A meeting organized by […]

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    Bitcasino pioneers Fiat-to-Bitcoin conversion

    March 10, 2021

    Bitcasino pioneers Fiat-to-Bitcoin conversion

    Big news for every casino enthusiast out there. Bitcasino.io is providing their users with the ability to directly convert fiat money (Euro or Dollar) into Bitcoin. This is the first time an online casino has implemented this kind of conversion service that eliminates the need of going through an exchange. This has been made possible through a […]

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    FunFair will revamp licenses for Blockchain gaming

    June 23, 2020

    FunFair will revamp licenses for Blockchain gaming

    Funfair technology looking for licenses by regulators As we all know by now, everything related to online gambling is ripe for disruption and improvement, specially with the emergence of blockchain technology. Many projects know this and are trying to setup their “start-up” in the business using the technology behind cryptocurrencies like Bitcoin to take advantage […]

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    Would Gambling Tokens Benefit More from Bitcoin Cash?

    January 3, 2023

    Would Gambling Tokens Benefit More from Bitcoin Cash?

    As we’ve previously covered, gambling is to blockchain what fish is to water. The advantages of bringing these two together are plenty and clear to see. However, due to the incipient nature of the technology, there are still some hurdles to overcome in order to make blockchain and cryptocurrencies the perfect environment for gambling, including sports betting, […]

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    Overwhelming blockchain casino club to raise $1 billion in Macau

    January 3, 2023

    Overwhelming blockchain casino club to raise $1 billion in Macau

    Macau, known as one of the world’s top destinations for gambling, is about to further raise its game as an international company is working on a billion-dollar ICO to build the world’s first ever blockchain-based casino gaming club in the island. Wide Rich Global Company, an investment venture based on Malta (yet another blockchain-friendly island), announced their […]

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    Provably Fair Casinos – What Is It? Does It Really Work?

    February 7, 2023

    Provably Fair Casinos – What Is It? Does It Really Work?

    Provably fair casinos have revolutionized online gambling. The concept removes even the possibility of a rigged result. With provably fair games, you can verify the authenticity of each bet you place. This means the casino can’t manipulate the outcome – either by design, or because the result is verifiable. Provably fair games are available on […]

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    Isle of Man reaffirms its leadership by launching new blockchain office and sandbox

    January 3, 2023

    Isle of Man reaffirms its leadership by launching new blockchain office and sandbox

    The Isle of Man, a jurisdiction with one the world’s most advanced legal frameworks for cryptocurrency and iGaming, is launching a new Blockchain Office and regulatory sandbox to cater to the relinquished billionaire blockchain market. As reported by FSTech, the office will be dedicated to facilitating communication between regulators and companies in the sector, enabling the industry to flourish in […]

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    Fishing Master – TRON Gambling Dapp Review

    March 10, 2021

    Fishing Master – TRON Gambling Dapp Review

    Fishing Master is a blockchain gambling game, and in fact, one of the most popular DApps – decentralized applications – on the Tron platform overall, with an average of 2.3k daily users as of February 2019, according to DappRadar. Its simple gameplay is based on casting a fishing rod in order to receive a random amount […]

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    Malta Blockchain Summit 2018

    March 10, 2021

    Malta Blockchain Summit 2018

    Malta has cemented itself as the “Blockchain Island” by now given its very friendly approach toward blockchain related businesses. Binance and OKEx are major players in the game who have announced their relocation to Malta. To capitalize on this momentum, Malta’s Blockchain Summit is set to take place on 1-2 November on St. Julian’s InterContinental […]

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