On November 1 – 2 during the Malta Blockchain Summit BetConstruct presented its blockchain technology-based solution Fasttoken.

Fasttoken is the first all-in-one, fully decentralized and Ethereum based blockchain solution, which provides 100% transparency, security and fairness to all involved parties – players, game providers, operators and affiliates. The system is built on a user-friendly interface, which ensures its simplicity and availability.

“As a result of more than 15 years of experience in the iGaiming industry and our work, we have gained hundreds of loyal partners, many of whom are already preparing to recognize Fasttoken as their cryptocurrency,” said Vigen Badalyan, founder and CEO of the company.

BetConstruct’s cryptocurrency project Fasttoken gives a possibility to perform a variety of transactions within the vast network of BetConstruct, that is to make transfers, run blockchain applications, as well as use them for the overall gaming package available on the company’s and partner’s websites. Blockchain Casino, which is a completely innovative solution on the market, will soon be available for the offer.

Fasttoken, a blockchain solution by BetConstruct, is going to present one of its latest solutions in the gaming space during the Malta Blockchain Summit happening on November 1-2.

Fasttoken is the first all-in-one betting and wagering solution, fully decentralized and based on Ethereum blockchain which provides 100% transparency, security and fairness to all involved parties – players, game providers, operators and affiliates.

Utilizing Ethereum’s second layer scaling technologies, our solution enables decentralized, provably fair gaming and verifiable RNG across all verticals, guaranteeing exciting, lightning-fast and unforgettable gaming experiences. The second layer scaling tech allows us to minimize transactions costs, eliminate latency and lag inside a gaming session and boost scalability indefinitely, by moving the actual gaming process of the main chain.

“Trust takes years to build up, and seconds to lose. That is why today we are building the casino of the future. By applying blockchain solutions in gambling, we deliver an exclusive chance to enjoy wagering without the sine qua non of the trust factor.“ – said Vigen Badalyan, BetConstruct Founder and CEO.

Given all this, our solution doesn’t compromise the security, transparency or fairness of any aspect of any game, at any point in time. Once a gaming session ends, players have an option to audit every spin, revealed card or event for fairness.

Moreover, players can enjoy multiple games simultaneously, just like they do in centralized casinos today. Also, they have the option to play all decentralized games directly through their wallets using MetaMask, meaning that nobody has to trust the casino with their funds – the way a truly decentralized casino is meant to operate.

Fasttoken is an innovative secured-identity platform solution providing its users a powerful digital wallet where they can safely store their personal and financial data using the blockchain-fueled network.

The revolution was not evident at first, but the blockchain technology is rapidly finding critical applications beyond cryptocurrency. Two industries that have been in dire need of innovation are the gaming and gambling industry. Blockchain technology and cryptocurrencies have been able to connect with both sectors at a deeper level tackling a long-daunting problem – transparency of a transactions.

One of the most significant challenges associated with traditional online casinos is that essential data, such as gaming results, winnings, payouts, and more info, is deliberately kept away or partially concealed from public scrutiny. Due to this fact, lots of users have lost faith in the industry and have shifted to casual gaming or other opportunities. The integration of blockchain technology is expected to solve these frictions that the online casino community has been facing since the gambling business was introduced to the internet.

However, why is the blockchain technology an A-list topic? For consumers, it adds a layer of trust because it promotes a way of allowing interaction without intermediaries. As an auditable and verifiable data storage system, it can record players’ moves while ensuring that the data is protected yet valid on an open ledger. For developers and entrepreneurs registering every movement of the players automatically opens up a whole new world of possibilities.

Casinos looking into implementing the blockchain gambling are an entirely new breed of online businesses which are fully decentralized, with no third-party verifying transactions. Thus, it enables a fair and transparent system for the online casino industry which could trigger getting back the old users and potentially foster the expansion of a new clients network. Implementing blockchain technology is a need of the time as users want to know the game is fair and they have a legitimate chance to win.

One of the industry leaders, BitStarz, is already using the Provably Fair System, which is a perk of implementing blockchain technology inside casino operations. SP8DE offers the ready-made solution, so businesses do not need to waste more time and resources investing in its development as it comes in a package that is easy to enact and at an affordable cost.

Yet, the major issue with the industry is the lack of trust with the random number generator (RNG). This represents a crucial aspect of ensuring the fairness of the game. A significant drawback of the industry is that users believe the numbers are not randomly generated which consequently led to widening the gap between the business and its consumers.

Blockchain developers have been looking into various breakthroughs to this problem, and there are not lots of projects which came up with a viable solution. A decentralized RNG is a Provably Fair system because part of the hash is generated by the client’s side and part by the node. The computation process becomes complex and difficult to hack or set to hack. This way, by adding more variables to the creation of the random numbers, SP8DE’s platform can easily generate millions of random numbers that could cover the needs of the industry and the providers.

The team developed a protocol that is combining off-chain and on-chain RNGs which can be easy to implement not just for casino providers, but for other industries as well such as gaming and many others. The numbers are generated on a blockchain network which makes it impossible to corrupt any transaction, thus ensuring the transparency and fairness that casino business needs to survive. SP8DE believes that RNG is more than just a set of random numbers as they are pioneering a platform that sells trust in times when innovation is the answer.

In the end, we need to see technology as an incremental process. The Internet had casinos connected to the full world, but the technological advancements stagnated ever since. Blockchain represents the revolution for many industries, and especially for the casino one. It reiterates the need for building systems that can ensure trust, transparency, and safety of transactions and information.