Spencer Kellogg | @Spencer_Kellogg
On June 1st, 2018, Tron cryptocurrency launched their mainnet platform. Capitalizing on a meteoric rise in interest and technological advancements surrounding the Chinese-based crypto, founder Justin Sun and his team of developers have created a decentralized infrastructure that is growing in size and scope every day. Enter: TronBet.
TronBet is a gambling DApp (decentralized application) that launched in early Q3 of 2018. In its short lifespan, it has seen incredible gains in users and total bets. On its release day, the site netted over 10,000 plays and had seen over 1 billion TRX wagered within the first two weeks of service. Users connect their Tron wallet to the platform and wager bets on two simple games that payout TRX immediately on winning combinations. Interested gamers can try the casino-like site out here entirely at their own risk.
Originally a simple over/under dice game, TronBet has recently launched their second game, Moon, based off the widely successful Bustabit crash game. In Moon, players wager a set amount of TRX and anticipate when an increasing curve will crash. Players must collect on their wagered amount before the line crashes or they lose their entire bet. The game is addicting, thrilling, maddening and can lead to incredible gains. The simulation can payout players up to 5000x their wagered bet, meaning gamers could hypothetically turn a few dollars into thousands in the course of one single game.
In their simple and eloquent whitepaper, TronBet developers lay out their vision of an online gambling site built on the cheap and flexible ecosystem that Tron has built. They point to a list of other e-gaming sites utilizing Bitcoin and Ethereum that have seen successful lifespans, including SatoshiDice, which has recorded over $500 million in bets since 2016. Another example, EOSbet, rakes in an average of $10 million a day and the market for growth seems primed as United States lawmakers lose their regulatory control over e-gaming.
Although Tron founder Justin Sun has promoted TronBet, the team behind the gaming platform are not affiliated with the Tron development group itself. TronBet developers chose to use the Tron platform due to its impressive scalability and cheap transaction costs. Compared to the Ethereum blockchain, which can only process 25 TPS (transactions per second), Tron boasts almost 100x that speed and recently clocked in at over 2000 TPS. What this means for users is that TronBet runs on a platform that is incredibly quick, cheap and efficient. This ultimately provides a greater gaming experience.
According to Tronscan.org, the number of wallets and transactions on the Tron network has been exploding over the past few months. A decentralized exchange for Tron-based tokens and currencies has also launched and already features more than 10 TRX trading pairs. All of this bodes well for TronBet as the success of Tron’s mainnet should funnel new users and interest into the projects and applications being released through the ecosystem.
— Justin Sun (@justinsuntron) October 31, 2018
In late October, Justin Sun tweeted out his support for Tronbet, which had then surpassed its first 1 Billion TRX won inside the system. Today, barely a month later, Tronbet is showing over 7.7 billion Tron won and over 15 million bets placed. This unprecedented growth is due, in part, to an interesting in-game currency called Ante which players can mine with every spin.
Users can think of Ante like receiving a small bit of the casino’s own coin that can be stored in the casino’s vault and used to collect a payout of dividends from the total amount of losses within the system every day. In essence, mining and staking Ante allows users to ‘be the house’. Users will trade Ante on Tron’s decentralized exchange in the coming months. This presents an innovative way for early adopters and believers in TronBet to benefit from their support.
In the cryptocurrency industry, gaming has proven to be one of the strongest sources of actual adoption. CryptoKitties, TronDogs, and Etheroll have all created major buzz and concrete interest in using the blockchain as an engine for gaming and transactions. Developers at TronBet have promised a third unreleased game before New Year’s that will be PVP (player vs player), which should increase interest in the platform significantly.
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