CoinPoker has launched a new cryptocurrency based poker platform which operates on a digital currency known as Chips (CHP) and is now available for free play. CoinPoker will be using blockchain technology for the cryptocurrency based poker room to put an end to unfair play and offer poker players competitive and transparent games.
Poker players can play online games at CoinPoker using CHP which is an Ethereum smart contracts based special cryptocurrency. Online poker operators have been quick to embrace cryptocurrencies as it significantly reduces the time taken for transactions to be processed. The processing time comes down from days to seconds and is generally applicable in most countries, which in turn allows players even in the remote areas to manage their funds easily. CoinPoker’s free play application is now available for download.
CoinPoker plans to launch its Initial Coin Offering (ICO) in January but this week the company will proceed with a Pre-ICO which will go live with a 30% bonus to token holders. The company will give back 15% of all the tokens raised during ICO back to the community in an effort to build liquidity and guarantee bigger prize pools.
The CoinPoker team believes that blockchain technologies can guarantee transparency and will be useful in preventing unfair play. The team has implemented their Random Number Generator on blockchain and remain confident that their online poker offering will provide robust security and safety to its players.
In a statement, Michael Josem who heads security at CoinPoker said
We are developing a Fairplay blockchain-based security and fraud system that is going to help us discern the real players from the bots, preventing cheating. Casual players should have a chance to enjoy the game again
Isabelle Mercier who is a representative of CoinPoker said that the use of blockchain technology in the online poker industry has made things a lot easier for poker players around the world, especially in regions such as Latin America and Asia where players constantly face problems over payment. When playing at CoinPoker, players from around the world can be confident that their personal and financial information is protected at all times and that their transactions will be processed extremely fast.
CoinPoker has also confirmed that once the ICO is completed, the company will distribute another 25 percent of the total revenue to its players on an on-going basis.