Cryptocurrency Casino BitDice to Integrate IOTA Tech

Announcements, Blockchain, FinTech | August 30, 2017 By:

Cryptocurrency casino BitDice will be integrating IOTA’s technology on its next-generation platform.

IOTA is based on Tangle, a third-generation blockchain technology that uses a directed acyclic graph. With Tangle, users will have to work to approve other transactions. The Tangle ledger will also be able to settle transactions with no fees.

Devices can trade accurate amounts of resources immediately, and IOTA can store data from sensors and dataloggers safely. It will be verified on the ledger, and it could move on from real-time services. The marketcap of IOTA is currently over $1 billion on OTC Trading.

The integration aims to address a number of critical shortcomings presently available for ethereum smart contract solutions. BitDice is pursuing the most practical way of accommodating on-chain gaming content using the unique capabilities of IOTA technology.

BitDice stated that IOTA should help the casino to overcome issues related to high execution cost, as well as slow speed of the games that require dynamic betting.

In the coming weeks, BitDice will be thoroughly engaged in testing IOTA’s various application methods and will finalize adding the IOT token to the array of available betting instruments.

Along with adding IOT to its list of accepted cryptocurrencies, the company also established a research and development working group set to work with IOTA’s community to help it achieve its goals of implementing the technology in its next-generation platform.