Cyrptocurrencies are rapidly growing in popularity. Since Bitcoin’s explosion into the mainstream, the interest surrounding cryptocurrencies has grown exponentially. Vendors are beginning to treat Bitcoin and other digital currencies with the same respect they treat conventional tender. As a result, exchange-based industries once limited to physical money are beginning to expand to include Bitcoin and casinos are leading the charge.
Online platforms for crypto exchange are far from uncommon. A quick Google search will yield dozens of options for you to start trading Bitcoin similarly to how you would buy and sell stocks on Wall Street. But, few have risen to meet the demand of those who are looking to gamble with their hard-earned cryptocurrencies. Gambling is a multi-billion dollar industry on an international scale. For cryptocurrencies to be barred from such a gainful prospect would limit their intrinsic value to an unreasonable degree. Thankfully, Bitcoin casinos are very real, and they are beginning to become more common. Let’s go over the intricacies of these cutting-edge, all-digital gambling outlets and how you can take advantage of them.
While Bitcoin casinos’ are growing in popularity, they have a lot to prove if they aim to displace conventional casinos as people’s gambling outlets of choice. Likewise, these outlets need to show consumers that they have equal-if not greater-returns on initial investments. These outlet’s initial features and feedback point towards this being case.
Bitcoin casinos’ make managing both cryptocurrency and regional tender a slick and seamless process. In fact, it can be even more straightforward than doing so in a brick-and-mortar casino. This area is where Bitcoin casino’s digital nature lends them a lot of flexibility. Swapping between different cryptocurrencies is as simple as ticking an option in a settings menu-that’s it. You will never need to interact with another person when managing your funds through a Bitcoin casino, which is a benefit that largely speaks for itself.
Likewise, these outlets are dumping a great deal of resources into ensuring that the user experience is well-designed. When working with web pages and digital applications, the user experience, often called “UX,” is crucial in retaining consumers. If finding essential functions is difficult, the base for an app will simply move on to a more well-designed offering. Bitcoin casinos ensure that their navigation tools and overall UX design are immaculate in virtually every aspect as a result.
When using a Bitcoin casino, your options are very clear-rarely is there anything vague about a game’s details. This clarity means you can engage with these casino’s many offerings with more confidence that you aren’t receiving a raw deal. Likewise, should problems occur, many Bitcoin casinos offer 24/7 customer-service capabilities. Being able to contact a professional at your leisure makes the experience less stressful and more pleasant, which means you can pour all of your energy into getting the largest payout possible.
Many of these outlets are still developing. While this may seem like a reason to stay far away from them, it’s actually a net positive for users. The beta-like state on which these platforms currently operate means that your feedback, suggestions, and most importantly, issues, are taken seriously and addressed exceptionally quickly. With Bitcoin casinos, you won’t be left wondering whether or not your customer-service inquiry will go unnoticed.
But a casino needs to offer a vast selection of games as well. Bitcoin casinos succeed in this avenue. Because of their digital delivery method, these casinos can draw from conventional video games when crafting enjoyable and addictive experiences. The result is a selection of games that are more visceral, enjoyable, and aesthetically pleasing than anything you would find a standard casino.
The options these casinos provide are vast as well. If you aren’t a fan of poker or lightning roulette, you can move to slots without lifting a finger. Similarly, if that doesn’t suit your fancy, you can swap to more intensive forms of gambling, like sports betting, just as quickly. Because the time it takes for you to move from game to game is cut so much shorter, you can spend much more time doing what you came to do-gamble. Additionally, you can take advantage of digital interfaces to monitor vital statistics, like standings, scores, and more, with much higher efficiency than you would be able to otherwise.
Of course, the whole point of a casino is to earn a large payout. And this process is vastly improved by Bitcoin casino’s digital interfaces as well. Payouts are simpler to obtain, and keeping a tab on your earnings if far more straightforward.
Ultimately, Bitcoin casinos offer a gambling experience that handily exceeds those you can find in traditional casinos.
What is USDQ and Q DAO?
In this article, Slava Zheltov shares about USDQ, a unique decentralized stable coin that makes it easy to collateralize Bitcoin. As a Blockchain Architect at PLATINUM ENGINEERING, Slava acts as a full-stack front-end developer.
Within his team, Slava is known for impeccable track record regarding security and reliability in projects, which he’s contributed to. Read this article and start learning about a decentralization wave, currently disrupting stable coin.
The thought of your bitcoin and other cryptocurrencies fluctuating in value almost on a daily basis is a hard thing to accept. But fluctuation also affects regular money as we know it.
If we want cryptocurrencies to become the future of money it should solve the issue of volatility first. The USDQ Token is a proposal to stabilize crypto and transition it from being a speculative asset to a functional store-of-value.
First and foremost, USDQ is a cryptocurrency stable token. Like Tether [USDT]. This essentially means that its price is stabilized or “pegged” to the US Dollar. The Q DAO platform, on the other hand, is a smart contract platform built on Ethereum. The smart contract mechanism used is referred to as Collateralized Debt Contract.
This cryptocurrency is supported by any Ethereum account and is also compatible by any smart contract developed to use the USDQ exchange function. It is more steady than most non-fiat currencies available on account of this mechanism of valuation.
Where does the USDQ value originate from?
The value of the USDQ stable coin is linked to the Q DAO smart contract platform using the Collateralized Debt Contract [CDC]. This means that anyone can choose to use their own assets, in this case, bitcoin [other top 10 crypto assets will be added in future], as collateral which works as a guarantee.
This is made possible by the smart contract platform. The collateral assets are locked after being deposited into the Q DAO smart contract platform and allows the owner to generate USDQ stable tokens in return while at the same time creating debt for the same owner.
This debt is necessary because it helps to maintain the collateral inside the smart contract until it is fully repaid by the amount of USDQ tokens it originally generated. When the repayment occurs then owners of the collateral can withdraw and receive their collateral back.
The ecosystem and economy of the Q DAO platform and USDQ Token directly links both of these to the amounts being used as guarantee or collaterals.
When more users request USDQ stable coins the total amount of Collateralized Debt Contacts [CDC] will increase along with it because it is the main way to obtain USDQ stable coins. This, in turn, increases the value of Q DAO tokens. These tokens are the last component of the USDQ ecosystem and they are Ethereum based tokens whose main use is to carefully manage the operations of the fund via means of a Decentralized Autonomous Organization [DAO] system.
This includes voting rights and the capability of enforcing decisions based on majority rules. This last part is essential to the supply and demand of the Q DAO tokens.
Inside the workings of a Q DAO transaction.
Step 1: Origin of the CDC smart contract and depositing collateral guarantees
To use Q DAO tokens a user must first send a request to the USDQ platform which initiates the CDС and its respective smart contract.
Whenever a user wishes to mint USDQ, they will be asked to collateralize an amount in Bitcoin that is higher than the loan’s value. As of now, this rate is 166%.
Step 2: Generation of USDQ Stable coins from the CDС smart contract.
The user then executes another request or transaction to the platform to retrieve the USDQ that was generated on the first step. The platform also jots down the debt that is generated by this user which is the amount in need of repayment to unlock the collateral guarantee. The guarantee is always higher than the USDQ stable coins made available for the user as a safety measure.
Step 3: User makes repayment of the generated debt.
When the user finally makes the repayment of the generated debt they gain full access to the locked collateral. There is also an accrued interest fee that is meant to be paid which is accumulated daily. This means that the Q DAO tokens generated initially are taken back and removed from circulation.
Q DAO Regulations
Since the entire operation has plenty of safety measures it is very self-regulated. Because all operations begin with any user having to provide collateral which will be lower to the amount of USDQ stable coins received it creates a dissuasive control to prevent fraudulent transactions.
Q DAO Projections
The Q DAO tokens are actually indicative of another type of cryptocurrency that is completely governed by smart contracts and economic mechanisms to influence its valuation more effectively. You should keep an eye on what the future holds for this cryptocurrency as it aims to become a pioneer in the industry of stable coins and cryptocurrencies alike.
USDQ is a decentralized stable coin, which uses algorithms to offer higher stability and reliability. Fully on-chain and monitored by high-speed AI robots, ecosystem offers reliable defenses against malicious acts and attacks.
First, run in the line of fiat-pegs, USDQ is brought by PLATINUM ENGINEERING Team, looking to edge together innovative solutions in collateralization, using stabilizing mechanisms and oracles for the high-endurance stable coin. Fully anonymous, USDQ breaks limits out of this legacy world.
PLATINUM ENGINEERING is always happy to share its latest development and architecture solutions, helping stakeholders to spread improvements across crypto projects. Being an expert company on the market, PLATINUM ENGINEERING has already helped 150 crypto startups, enabling them to efficiently raise funds and introduce blockchains to their business models.
With offices in Tokyo, Thailand, Russia, Belarus, and Korea, the team is always ready to have in-person meetings, focusing on how companies can leverage blockchain technology in order to meet their unique needs. The team welcomes readers to connect on Telegram, Facebook, or LinkedIn.
This overview may not be fully exhaustive and does not assess the viability of any project, nor its team legitimacy. Readers should conduct their own due diligence before using or investing in any of the listed Stablecoins.
This article represents the author’s opinions only and should not be considered investment advice. All described functionality in the article is still under development, it can be changed/processed. Please follow the updates.
Sviatoslav Zheltov, IT Manager and Blockchain Architect in Platinum Engineering
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What is USDQ and Q DAO?
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