{"id":1285,"date":"2016-12-19T17:16:36","date_gmt":"2016-12-19T17:16:36","guid":{"rendered":"https:\/\/www.top10pokersites.net\/?p=1285"},"modified":"2016-12-19T17:16:36","modified_gmt":"2016-12-19T17:16:36","slug":"blockchain-based-poker-to-challenge-current-online-poker-format","status":"publish","type":"post","link":"https:\/\/www.top10pokersites.net\/news\/blockchain-based-poker-to-challenge-current-online-poker-format","title":{"rendered":"Blockchain-Based Poker To Challenge Current Online Poker Format"},"content":{"rendered":"

\"\"The introduction of an innovative poker product called Virtue Poker<\/a> has the potential to shake up the online poker industry. Based on a new technology called Ethereum Blockchain<\/a>, Virtue Poker is a peer-to-peer decentralized poker platform that offers a high level of transparency.<\/p>\n

Virtue Poker has been developed by the ConsenSys<\/a> project which was set up by Joe Lubin<\/strong>, a co-founder of Ethereum. The technology itself is being explored for use in a host of applications one of which is online poker.<\/p>\n

Blockchain claims to provide players with a decentralized poker platform and a completely new way of playing poker, offering a tamper proof gaming experience with better control, better security for player funds and instant payouts.<\/p>\n

The platform makes use of a smart contract feature to act as the escrow for the tournament buy-ins. Described as a cryptographic box, it is created when players send in digital currency to start play and can be opened only after specified criteria are met. So only after a winner is declared, does the contract get automatically executed, paying the winner directly into their digital wallet and removing the need for paying and withdrawing money.<\/p>\n

Ryan Gittleson<\/strong><\/p>\n

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