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The halving event on the Bitcoin blockchain may enhance the economic advancement of iGaming initiatives, improve transparency in their operations, and strengthen user confidence.
Bradley Peak, a Blockchain Specialist, created an analytical report for SOFTSWISS regarding the influence of Bitcoin’s halving on the operations of crypto-friendly iGaming projects. He emphasized a significant outcome: the potential rise of BTC, a delayed consequence of halving, which will positively impact the economic landscape of iGaming brands.
Furthermore, the halving occurrence will influence the expansion of the cryptocurrency market and the extent of crypto adoption. In this context, iGaming platforms will broaden their payment methods by incorporating additional cryptocurrencies to cater to a wider user base. This trend will result in an increasing number of applications for digital assets within online casinos and the evolution of innovative gaming frameworks based on Web3 and smart contracts.
Consequently, enhanced adoption of automation and decentralized technologies will promote greater operational transparency for gaming platforms and bolster player trust.
An illustration of Web3’s current application in iGaming projects, which positively influences operational transparency and player trust, is the cryptographic technology known as Provably Fair. More information can be found in a dedicated piece by CP Media.
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Additionally, the ongoing rise in crypto adoption will facilitate the advancement and enactment of regulations for the digital assets market, which will inevitably impact the iGaming sector. Specifically, we can anticipate updates to licensing standards, measures for player protection, and strategies for combating fraud and illicit activities.
As recommendations for members of the iGaming sector, Bradley Peak proposed the following:
- to enhance expertise in handling digital assets;
- to emphasize security concerns;
- to contemplate a gradual integration of cryptocurrency payments.
Regarding the final suggestion, the expert recommended the complimentary integration of the CryptoProcessing payment service, which is part of the CoinsPaid ecosystem and one of the major providers of crypto payment solutions. According to Peak, the services offered by the company facilitate a gradual introduction of cryptocurrencies, allowing for the evaluation of player preferences and the adjustment of existing business processes accordingly.
The Bitcoin halving occurred on April 20, 2024, with BTC ultimately surpassing gold as the most scarce asset in terms of issuance.
Сообщение Bitcoin Halving to Accelerate Web3 Integration Into iGaming Projects появились сначала на CoinsPaid Media.
