Yet another online gambling platform has made the switch to Bitcoin Cash (BCH), the only true Bitcoin and the world’s functional cryptocurrency.
On Tuesday, Blockchain Poker announced that its app’s currency now defaults to Bitcoin BCH as the cryptocurrency allows the platform to “ensure that people are continually blown away by just how amazing cryptocurrencies can be.”
When it started out in 2015, Blockchain Poker originally supported BTC due to its low fees, reliable transactions and growing ecosystem. But that growth came to a stop in 2017, when the SegWit BTC chain moved away from the original Satoshi Nakamoto white paper’s vision of a “peer-to-peer electronic cash system.” BTC blocks remained capped at only 1MB in size, resulting in massive backlogs due to its inability to scale.
“Now in 2018, high network fees and limited block space have priced out most of Bitcoin’s original use cases and driven away both businesses and users (yes, users, not hodlers) and industry growth continues to take place using other platforms; mainly Ethereum tokens, Bitcoin Cash, or other ‘crypto-like’ proprietary closed-source platforms,” the Blockchain Poker said.
Blockchain Poker offers instant jump into single-table No-Limit Texas Hold’em cash games, with “aggressive rake caps and rakeback” that allow players to build their bankroll. Players can remain anonymous since the platform has no sign-ups, and new players automatically receive free satoshis. Aside from Bitcoin BCH, players can also opt to play with BTC. Each chip is worth 1 satoshi, according to the Blockchain Poker team.
For the remainder of 2018, Blockchain Poker plans to move “more and more features on-chain” as well as focus on getting more players on the poker platform. So far, the reception for the app has been positive, although on Reddit, one user questioned why Blockchain Poker has decided against payment channels. To which the team replied:
Currently, BTC, Ethereum (ETH), Ripple (XRP), and Bitcoin BCH make up the top 4 cryptocurrencies by market capitalization. Of these four, Ethereum certainly has the first-mover advantage when it comes to tokenization, but smart contracts is already available with Bitcoin BCH following the May network upgrade. Apart from this feature, Ethereum does not scale or work as a cryptocurrency, and it’s also plagued with numerous security issues.
Bitcoin Cash can do everything all the other platforms can do and more. In May, Bitcoin BCH underwent a network upgrade, which increased the block size to 32MB and also restored certain OP_Codes for advanced functionality. In fact, Bitcoin Cash already saw its first-ever “atomic bet” on the blockchain, thanks to the re-enabled OP_Codes.
For now, there’s no solution available that will help operators migrate their ERC-20 tokens to Bitcoin Cash, although it’s one of the priority projects in blockchain technology and research development outfit nChain’s to-do list.
Incidentally, if you have Bitcoin Cash-based tokenization solution in mind, CoinGeek.com is running a £5-million contest for designs that will put tokenization on the BCH chain. The contest is still open, with an adjusted reward and terms, to enable other solutions to also be developed and released open source on the BCH platform. More information about the CoinGeek tokenization contest can be found here.
Blockchain Poker joins the growing list of online gambling platforms that have opted to make things easier for players by switching to Bitcoin Cash. We encourage all gaming companies to take a serious look at Bitcoin BCH, as it’s the best on the market for payments and will soon be best of breed in all other areas, including smart contracts and tokens.