TCD Team Develops Decentralized Bitcoin Poker Site
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Online poker is one of the biggest money makers in the world. In order to get an idea of exactly how much online poker operators are making through their poker sites, one has to view all the television ads urging people to wager their hard-earned money on online poker rooms for an opportunity to win large amounts of cash.
The above-mentioned team wants to create an online poker room that cannot be attacked by harmful malware. Since a large amount of cash flows into and out of online poker rooms, they become easy victims of malware attacks. Recently, even Full Tilt Poker and PokerStars had not been spared.
Fair Poker Gaming Experience
The computer science team from TCD wants to create a 100% decentralized and peer-to-peer online poker room that can operate without the requirement of a third-party hosting site.
While playing bitcoin poker at this site, each player will be required to encrypt and shuffle the deck to make sure that nobody can guess the order in which the cards are arranged or the nature of the cards dealt to opponents.
To view the cards, participants will have to decrypt the cards to make sure that things are fair for every single person who is in the game.
The most important aspect of this totally decentralized online poker room is that it allows players to wager in bitcoins. This in turn permits the application of cryptographic algorithms to make sure of complete fairness in the way funds are distributed and the cards are dealt.
No Government Influences
Explaining the concept of decentralization, the TCD team said that their poker room has several advantages over traditional poker rooms, those that do not use bitcoin transactions or are not decentralized.
For instance, it eliminates the need for players to trust a third-party site to make sure that the games are fair as the algorithm used to shuffle and deal the cards is 100% fair. The team said that traditional poker rooms have to charge fees for transactions and hosting, but their site would be free because of the use of secure algorithms and bitcoins.
The biggest advantage is for players residing in countries that have not yet legalized and regulated online poker as decentralized technologies and blockchain technologies are not hosted in particular countries.
The Implications
Since the poker site would be based on a distributed network, untouched by government influences, it would attract a larger pool of players from different parts of the world. Eamon McNamee, one of the members of the team, said: “With the advent of bitcoin, a cryptographic solution to a fair, decentralized poker network is entirely possible.”
McNamee further said: “This idea may have far-reaching implications in other trust-based industries, such as banking, as we have already seen the decentralization of information transfer and money transfer with technologies like BitTorrent and bitcoin.”
