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Why Monero Casinos Are Winning Over Gamblers?
The launch of Bitcoin more than a decade ago led to the creation of a completely new system for the exchange of financial value. While there are many advantages to having a decentralized (censorship-proof and transparent) ledger, there are also some disadvantages, not least of which is the lack of privacy and anonymity. When you make a Bitcoin transaction, its duration plus the amount and addresses are forever recorded on the blockchain; this information is available for everyone to see. In reality, due to the lack of anonymity, companies can trace certain cryptocurrencies back to criminal activity based on the blacklisted coins they use. This absence has led to the birth of “privacy coins” that provide use-case-specific privacy, of which Monero is one of the most widely recognized. In today’s article, we will focus on what Monero is and why Monero casinos are winning over. Let’s get started!
Alt : Gold round shaped coin
What You Should Know About Monero
Before coming to the advantages of the best monero casinos, let’s start with the story of it. Monero (XMR) stands as a digital currency that is privacy-focused and works peer-to-peer with the goal of being untraceable and unidentifiable. Monero coins are fungible, so any transaction on the Monero blockchain shows no connection to any user or real identity in the world. Fungible is a term that describes each unit of a currency as identical and interchangeable with all other units of that currency, so when someone buys Bitcoin on the darknet, it can be distinguished from Bitcoin bought on Coinbase based on blockchain analysis because the two different Monero coins look exactly the same without any distinction between them. Many financial regulators are losing interest in Monero as a currency due to their inability to track XMR payments or get information about its users.
Ring signatures belong to the field of public cryptography. They represent a digital signature that any member of a given group can sign with their private key. When an XMR transaction is made, your Monero wallet hides the identity of the actual signer within the group by creating a ring of other users’ keys taken from the blockchain. This effectively anonymizes the transaction for any observer. But how did Monero come into the cryptocurrency scene? Let’s look into that.
History of Monero
Monero’s roots can be traced back to 2012, when an anonymous person under the pseudonym Nicolas van Saberhagen published the CryptoNote white paper. He detailed revolutionary encryption methods as well as a new proposal for electronic money through “CryptoNote”. The launch of the first cryptocurrency using the CryptoNote protocol was Bytecoin in July 2012. Then in 2014, Bitmonero was created through a fork on Bytecoin’s codebase (now known as Monero). Monero does not have a single founder or CEO; there is a core group of developers working on it, most of whom choose to remain anonymous. One of the identified developers is Riccardo Spagni, who served as Monero’s lead developer until he resigned in December 2019. Spagni’s involvement with cryptocurrencies dates back to 2011, when he started mining Bitcoin; he later co-founded Tari, Monero’s sidechain designed for NFTs through the mining of federated non-fungible tokens. As an open-source project, Monero relies heavily on community donations for its development efforts. People from all over the world show their support for the project with numerous contributions and funding through Monero’s CCS system. Let’s check out the advantages of this brilliant coin now.
The Advantages
Monero shares some similarities with Bitcoin in that its developers remain anonymous and it has an open source code base; however, there are notable differences between the two. One important distinction concerns how upgrades are handled: While Bitcoin is known to be conservative with forks and even simple upgrades go through a lengthy discussion process before being implemented, Monero’s software is designed to be automatically updated every six months. In 2018, Monero made history as the first major cryptocurrency to adopt “bulletproof” technology. This innovation significantly improved the efficiency of XMR transactions and led to a minimum 80% reduction in the average transaction size, which means lower fees for users. Despite the existence of many privacy-focused coins, Monero stands out as one of the most recognizable with a large market capitalization. It prioritizes privacy by default, unlike other alternatives like Zcash that offer it as an optional feature. It is also highly preferred by casinos because it has such advantages. It offers a much better service for you compared to other coins.
Industry News
The Voting for Ortak x B.F.T.H. Arena Awards has Started
Summing up the submission process for the Ortak x B.F.T.H. Arena Awards, it is the high time to buckle up and start the voting.
This year’s competition has seen record-breaking submissions, with over 100 games developed by more than 70 innovators who have joined the B.F.T.H. Arena Awards and Ortak initiative.
The participants are invited to cast their votes until June 10th across various categories:
- Best Online Casino Game,
- Best Game Design,
- Best FTN Casino Game,
- Best Game Storytelling,
- Best Bahamut Game,
- Best DECA Game,
- Best Arcade Game and
- Best Game Achievement.
Following this, an independent third-party auditor will confirm compliance with all regulations, after which the jury board will commence their deliberations.
The B.F.T.H. Arena Awards 2024 also introduces public voting this year, aimed to reveal the winner in the new Players’ Game of Choice category. The public voting for this category will take place until June 16, allowing gaming enthusiasts to directly impact the awards by voting for their favourite games. The public is invited to engage in this vibrant celebration of gaming culture and innovation.
Asia
ZITRO INTRODUCES LATEST GAMING INNOVATIONS AT G2E ASIA 2024
Zitro showcased its latest innovations at this year’s Global Gaming Expo (G2E) Asia, held at The Venetian Macao. The event served as a stage to highlight Zitro’s new range of products and its commitment to the Asian gaming market.
Zitro’s progress in the Philippines over the last years, evidenced by recent installations at major Integrated Resorts in Manila (Solaire North, Newport, and Okada), underscores its growing presence in Asia. “We’re determined to expand further,” Nadège Teyssedre, Zitro’s EMEA Director, declared, with more installations on the horizon. “Asia represents a strategic market for us”, she continued, “and we understand the importance of adapting our offering to the local culture. To that end, we have invested significant efforts into developing a diverse game library that caters to the tastes and preferences of this vibrant gaming market”.
The company’s ongoing product development was showcased with the launch of an innovative game offering to elevate player experience and profitability for casino operators.
Attendees to the Zitro booth were able to experience first-hand the company’s wide range of products. Among the standout titles were ‘Fu Frog’ and ‘Fu Pots’, available on the Illusion Glare and Allure Glare cabinets, which feature persistent elements and multi-level progressives. Zitro also showcased ‘Drum Dynasty’, on the Allure Glare cabinet which offers engaging gameplay with its unique Bonus Mighty and Bonus Power, and the ever-popular “88 Link” series, renowned for its captivating Asian-themed graphics and mechanics. Attendees also got a glimpse into Zitro Digital’s offerings, featuring their most popular family of games and the latest gamification tools.
In the words of Zitro’s President International, Sebastián Salat: G2E Asia has been a platform for Zitro to connect with clients and showcase our commitment to the Asian gaming community. Our goal is to approach this market in a broader sense, by developing a range of products thoughtfully adapted to the unique tastes and requirements of Asian players. The positive feedback on our products proves that we are moving in the right direction. We look forward to building on this momentum and delivering exceptional gaming experiences to players across the region”.
Latest News
Games Global awards biggest jackpot payout of 2024 to Coolbet player
Wolf Blaze WowPot!™ Megaways™ pays out close to €12 million
Games Global, a leading supplier of online gaming content, has paid out €11,846,211 to a player who triggered the WowPot™ progressive jackpot on Wolf Blaze WowPot!™ Megaways™, making it the largest win in Coolbet’s history.
Not only is the player the second recipient of a multi-million-euro payout in successive months on Games Global’s leading progressive jackpot network, following a win struck on Absolootly Mad™ Mega Moolah™ in May, but they also claimed the largest prize of the year so far.
Furthermore, the payout marks the second multi-million-euro jackpot drop on the fan-favourite title Wolf Blaze WowPot!™ Megaways™ in 2024 after €3.7m was awarded on the Fortune Factory Studios game in January. Since its release in April 2023, the North American-inspired slot has awarded more than €25m across around 360,000 wins, making a winner approximately every 94 seconds.
The popular game is also part of Games Global’s latest Cash Splash network promotion that promises 5,000 cash drops plus weekly leaderboard prizes, with a total €500,000 prize pool up for grabs on 26 top progressive jackpot titles over a four-week period.
The ‘Fire Fiesta’ promotion highlights the provider’s commitment to elevating the player experience by offering even more ways to win big, as well as continuing to enhance its prominent jackpot network, which has paid out more than €52m in 2024 alone, averaging a win every 14 seconds.
Andy Booth, Chief Product Officer at Games Global, said: “Wolf Blaze WowPot!™ Megaways™ continues to prove one of the most popular slots in Games Global’s progressive jackpot game portfolio, and this latest historic prize reaffirms its reputation as a game that offers huge win potential.
“It has now paid out two massive jackpots in 2024, and this marks consecutive months of multi-million-euro payouts on Games Global titles.”
Noel Berg, Head of Casino & Games at Coolbet, said: “It is our absolute pleasure to celebrate this monumental win, which is also the largest payout in Coolbet’s history.
“This incredible payout not only highlights the immense excitement and possibilities Coolbet offers, but also proves that Games Global titles consistently deliver big jackpot wins. Congratulations to our lucky winner.”
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