Integrating Smart Contracts for Transparency and Fairness in Online Games

Gaming as we know it in today’s digital world has evolved tremendously, especially in how we interact with and enjoy games. One of the more fascinating innovations is the use of smart contracts. These contracts leverage blockchain technology, which ensures transparency and fairness.

Smart contracts are a necessity for operating an online casino today. With it, players can achieve instant payouts, enjoy provably fair games, and so much more which were concerns in traditional gambling. To learn more about the different ways smart contracts ensure transparency and fairness in online games, keep reading.

How Do Smart Contracts Ensure Transparency and Fairness in Online Games?

If you are interested in igaming with crypto legally, smart contracts are the future. Smart contracts are essentially scripts that automate an agreement or action between two parties. In the case of igaming, it can be an agreement between players and the igaming provider. There have been many concerns players have with igaming that smart contracts help out with especially when it comes to transparency and fairness. Below are a few ways smart contracts ensure transparency and fairness in online gaming.

1. Transparent transactions

One of the many benefits of smart contracts is that it ensures transparency between operators and players. The major concern many players face regarding igaming is trust and transparency which smart contracts help mitigate. At the core of smart contracts are bycodes that run on a blockchain which ensures transparency and security.

The key principle behind smart contracts is their self-execution and because it cannot be changed. Every step taken from depositing wagering on your favorite game is tamper-proof. So once it’s deployed, it cannot be altered, moreover, it is transparent which adds an extra layer of security that traditional contracts lack.

2. Immutability of smart contracts

Another reason that smart contracts ensure transparency and fairness in online games is because of their immutable nature. Immutability is a core property of blockchain in that when data is written, it cannot be changed. As such, once data is added to a blockchain, it cannot be retroactively altered without making changes to all the subsequent blocks in the network. 

The immutable nature of smart contracts is achieved through cryptographic hashing. It converts plaintext of any size into a unique string of text. As such, participating nodes need to agree on the legitimacy of a transaction before it gets approved.

3. Automated payouts

Automating payouts is another benefit of how smart contracts are improving transparency and fairness in online gaming. Online platforms that employ smart contracts can automate payouts, which improve the decision-making of players, relieve stress, and save time. Whether you are sending the highest-ranking cryptocurrency or not, smart contracts allow you to automate the process for a seamless transaction.

The technology behind smart contracts allows a decentralized exchange of digital assets. Note that a smart contract is not like a basic automation that exists when a money transfer is debited from your account automatically. Rather, smart contracts move forward with the contract after that and each time the contract should be fulfilled.

4. Provable fairness

One thing every player looks out for when searching for the best platform to play their favorite online gameplay fairly. As such, platforms that ensure provable fairness are a must-have, which is one of the benefits smart contract promises. Smart contracts can be used to verify the algorithm of an igaming platform to ensure it is fair in its gameplay.

It guarantees that the outcome of games available at an igaming platform is completely random by using RNG. As such, it ensures that the igaming platform cannot alter the outcome of the case. Smart contracts use several variables to ensure the outcome is immutable, but mainly the server speed, client speed, and cryptographic value.

5. Dispute resolution

Finally, smart contracts come in handy in dispute resolution, especially between parties in different countries. Dispute resolution has been a big issue in the igaming industry that has caused several platforms millions. Smart contracts encourage transparency, which is why it is ideal when it comes to dispute resolution. It bypasses obstacles that exist when it comes to resolving cross-border disputes.

Another reason using smart contracts to resolve disputes is efficient is because of the speed in resolving the issue. Most times, resolving disputes can take months, as several agencies may be involved, especially when it comes to failed transactions. But with smart contracts, everything can be automated—thanks to its transparent technology.