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DuckDice

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Overview

DuckDice.io is an online dice roll game where interested players can try their hands on guessing the dice number before it is generated, and place their bets according to their predicted outcome.

DuckDice.io accepts betting in cryptocurrency and entertains 7 of the most popular cryptocurrencies.

Interested players can deposit and withdraw funds in their DuckDice.io account using any of these cryptocurrencies, and start enjoying the game.

The game is similar to the other online dice roll games out there. In the roll, the dice generates a number between 0 to 9,999. However, before it does that, players have to guess whether the number they are selecting will be lower or higher than the generated number.

If the players believe that their picked number will fall lower than the generated number, then they can roll Low. If their assumption is true, they win the round.

Similarly, if the players think that the number which they picked is going to be higher than the dice number, then they can roll High. On meeting the prediction, they can enjoy their win payout.

Needless to say, in the cases where the players are wrong, they lose, and have to bid adieu to their bet amount. However, even when that happens, players know that it was not the site’s fault due to its provably fair mechanism.

The site also offers support through its live chat option, but it seems that the chat option allows you to enter your inquiry and it then pulls up some content that would answer your question. If that query does not provide a true result you will then see a live chat option that you can tap into. The customer service is great, they actually respond!

Gameplay

DuckDice Homepage

The site creates an automatic account for its users upon their very first visit to the site. The players can claim that account later by associating an email address with it so they could login with their own account regardless of whether they are using the same device or not.

DuckDice.io operates at a 1% house edge, which seems to be on par with most of the online dice roll sites.

While placing their bets as described above, players also have the option to select a chance to win percentage. This directly correlates with the payout multiplier, since a higher chance to win percentage means a lower bet multiplier, while a low chance to win percentage translates to a higher payout.

The minimum bet amount depends upon the cryptocurrency in which users are playing. For instance, the minimum bet amount for BTC is set as 0.0000001, while for ETH the amount gets to be 0.000001.

Similarly, the maximum win amount for a single bet also differs from cryptocurrency to cryptocurrency. While it is slated as 4 BTC for Bitcoin bets, it gets to be 134 ETH for bets placed in Ether.

Other than that, DuckDice.io also has additional features which enhance the overall gameplay.

Provably Fair: DuckDice.io has a provably fair mechanism which it defines clearly on its site. This lets players have the peace of mind that the gameplay remains neutral and not in the favor of the site itself.

Automatic Bets: By using this feature, players can set up automatic bets through their funds. This means that they do not have to setup each bet manually. Each round of automatic bets can go on until a predefined condition set by the player has been met, such as the specified number of rolls.

Community Chat: The site provides an interaction platform to all users as a sidebar chat interface, which enhances user participation and adds a social aspect to the game. However, if socializing is not someone’s cup of tea, then they can turn off the community chat feature.

Reward Distribution: The community chat feature also lets other players distribute their own rewards among online players, which the game terms as “making it rain”. This also enhances the sense of community and adds another aspect to the gameplay.

Tips: Similar to reward distribution, a player can share some of their existing funds with another user of their choice on the site. This feature also enhances the social and community aspect of the game.

Faucet: The site also has a faucet system, which basically provides a demo of the game to the users by providing them with minimal balance in cryptocurrency so they could try out the game without having to go through the procedure of transferring their own cryptocurrency to DuckDice.io. By using this feature, players can experience the full game in action before deciding whether it’s a good fit for them or not.

Jackpot: The site has a progressive jackpot, which starts at 0.25 BTC and keeps increasing until a user hits the roll of 7777, with their bet ID symbol ending in 7. The jackpot amount accumulated until that time gets transferred to the winner, and the jackpot gets reset to 0.25 BTC again to start the whole cycle again.

Built-In Exchange: This feature allows DuckDice.io users to instantly trade their existing, already deposited cryptocurrency with another supported cryptocurrency. This is to add to the gameplay features so users could place bets in their choice of cryptocurrency from the exchange’s offered list. The current exchange rate is always displayed on the site for this purpose.

Referral Program: The site also has a referral program through which existing players can earn Bitcoin by referring other users to the site.

Depositing and Withdrawing

Deposits can be made to DuckDice.io’s specified wallet address for each user. There is no minimum deposit limit for any cryptocurrency. The site also vows to facilitate deposits within a few minutes at most, depending upon network confirmations for each cryptocurrency.

However, the withdrawals do have a minimum amount which varies per cryptocurrency. While DuckDice.io does not charge a fee of its own for withdrawals, network fees still applies, and the site actually partially covers low fees for its players as well.

Source: https://bitcoin-millionaire.com/duckdice/

Blockchain

‘Bitcoin maxis’ like Solana, but is there sound logic to that

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Recent changes in cryptocurrency market dynamics have fueled the popularity of altcoins like Solana [SOL]. It recently became one of the most trending blockchain platforms around on the back of its surging price.

The cryptocurrency, in fact, had a 1-year ROI of over 4,200%, despite dropping by 34% since its peak in early September. Despite the latest hiccup in value, however, market observers believe the project has managed “winning over a significant number of Bitcoin Maxis or near-maxis.”

Ikigai Funds’ Travis Kling offered this observation on Twitter when he said,

“After talking to a bunch of folks over the last couple months, it’s pretty clear that SOL is successfully winning over a significant number of BTC Maxis or near-maxis, which have previously owned zero ETH or very little ETH.”

While the crypto-space is competitive, the tech-twist to the age-old saying – “competition of your competition is your ally” also holds true. Solana is not competing with Bitcoin. Instead, it is competing with Ethereum’s position in decentralized finance, NFTs, and smart contract offerings. Given the fact that transacting on Ethereum is still a pain for some users, Solana’s cheap and fast transactions provide a better alternative to many.

Solana’s DeFi projects recently crossed $3 billion, despite Ethereum hosting the maximum number of DeFi and NFT projects. While Bitcoin “maxis” are also opting-in for smart contracts, they prefer SOL over ETH, according to Kling.

Why? According to the exec,

“I think maxis look at ETH vs SOL and think –

Well as long as its not going to be all that decentralized, might as well have a smart contract platform that can actually handle enough throughput with cheap enough fees where it can really scale, instead getting choked up like ETH.”

However, not everyone agrees with Kling’s opinions. Many believe the decentralization narrative to be wrongly used by Kling, with another Twitter user @mikemcg0 noting that Ethereum is “more decentralized than BTC.” Anyone can run an Ethereum validator,” he said, “but only a select few oligopolies can mine BTC.”

Even so, Bitcoin mining has spread out even more after the recent China crackdown. Although the process is extensive in terms of effort, time, and money, according to another user, “anyone can” mine BTC “if they have the entrepreneurial mindset.”

Now, the latest outage faced by Solana did raise questions about the level of centralization. However, that has not really discouraged those who want to indulge in DeFi, NFTs, and smart contracts. As Solana forges new contracts with Hacken Foundation and Gate.io, others institutions like Osprey Funds and Grayscale are in a race to include Solana in their respective bouquet of products.

In fact, Osprey Funds has already registered Osprey Solana Trust with the SEC.

‘Ethereum killer’ or not, Solana is en route to gaining more interest from the booming crypto-market. Even turning so-called BTC maxis in the process.

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Source: https://ambcrypto.com/bitcoin-maxis-like-solana-but-is-there-sound-logic-to-that

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Blockchain

Europe Now World’s Biggest Crypto Economy: Boasts Over $1T Worth of Transactions

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Central, Northern, and Western Europe (CNWE) has grown into the world’s largest cryptocurrency economy since July 2020. The region experienced a massive increase in trading activity since then– particularly in the DeFi space.

The European DeFi Boom

Data from Chainalysis shows that CNWE received over $1 trillion in cryptocurrency over the last year alone. This represents 25% of global trading activity. Furthermore, it is responsible for at least 25% of all crypto value received by other regions, including 34% of the value received in North America.

This makes the EU the most concentrated in the world in terms of cryptocurrency trading volume. This is partially due to increases in all forms of trading activity over the past year, coming mostly from institutional investors.

Large institutional transaction value grew from $1.4B in July 2020 to $46.3B in June 2021, coming to take up half of all CNWE trading activity. The most pronounced increases were seen on DeFi protocols, where over 80% of these large institutional transactions were sent in June.

The impact of DeFi is further established when ranking coins in terms of transaction activity in the region. Despite being the largest cryptocurrency by market cap, Bitcoin heavily trails Ethereum in transaction volume among large institutional investors. Additionally, DeFi protocols took up a majority share of funds received by cryptocurrency services in CNWE in June 2021.


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The Decline in Eastern Asia

CNWE has seen significant absolute increases in its crypto trading volume. However, its new place as the world’s largest trading hub is partly due to a sharp decline in market share held by Eastern Asia– the previous world leader.

In early 2019 the region held over 30% of global transaction volume. This figure has since fallen sharply to about 15% – less than CNWE, North America, and even Central and Southern Asia.

This may be related to China’s continued push to prevent and discourage crypto trading within its borders. China re-announced their ban on crypto trading in the country days ago, and have been moving to prevent all access to exchanges within the country.

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Source: https://cryptopotato.com/europe-now-worlds-biggest-crypto-economy-boasts-over-1t-worth-of-transactions/

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Blockchain

Here’s why a multi-CBDC bridge is being tested on Ethereum

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The race to launch the first CBDC is one the world is following intently. While most have their eyes fixed on China’s digital yuan pilot, a group of countries has come together to take CBDCs a step further.

Phase 3 of Project Inthanon-LionRock saw BIS Innovation Hub Hong Kong Centre, the Digital Currency Institute of the People’s Bank of China, and the Central Bank of the United Arab Emirates experiment with a multi-CBDC bridge or an mBridge.

What does this mean?

The mBridge initiative would ideally allow central banks in different countries to issue and redeem their own CBDCs across borders on a common platform – without having to depend on correspondent banks.

Meanwhile, commercial banks would be able to “submit peer-to-peer CBDC push payments.”

The BIS September 2021 report stated,

“If successful, an efficient, low cost, compliant and scalable multi-currency, multi-jurisdiction arrangement can provide a network of direct central bank collaboration, greatly increasing the potential for international trade flows and cross-border business at large.”

The report further clarified,

“The prototype demonstrates a substantial improvement in cross-border transfer speed from multiple days to seconds, as well as the potential to reduce several of the core cost components of correspondent banking.”

Here, it is also interesting to note that the project’s Phase 2 prototype was built on Ethereum. This was because the core layer of the prototype contained the blockchain ledger and smart contracts.

Notes on features

As a multiple CBDC project, regulation and compliance were functional requirements. Central banks would be able to monitor transactions in real-time, set balance limits, control the balance held by their commercial banks, and use data for surveillance.

Scalability was also part of the design to later onboard more participants and jurisdictions.

However, one complication was the wide difference in remittance charges across countries. While the global average was calculated to be 6.38% of the remitted sum, the report observed that even a percentage as low as 1% would be costly for payments in the millions of dollars.

An update from China

Alongside the mBridge project, China has also been steamrolling ahead with its CBDC program.

Changchun Mu, Director-General of the DCI of the People’s Bank of China. confirmed that e-CNY pilots have been taking place in 10 areas.

Mu added,

“Payment methods such as QR code and tap-and- go have been well-supported and innovative services such as dual-offline payment and wearable device payment have been tested for safety and efficiency.”

Meanwhile, Howard Lee, Deputy Chief Executive of the Hong Kong Monetary Authority, suggested that an e-HKD could also be in the works.

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Source: https://ambcrypto.com/heres-why-a-multi-cbdc-bridge-is-being-tested-on-ethereum

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