The casino was founded in late 2018 under the name of Fairplay. A year later, it was rebranded into Fairspin to emphasize the casino’s key distinctive feature – each spin in every game is secured by blockchain. Fairspin’s gaming stats are displayed right on the casino website and everyone can check players’ deposits and payouts on a blockchain explorer.
Blockchain casino Fairspin paid out more than 40,000 ETH to players in its first full year of operation.
This blockchain-stored data shows that in 2019 Fairspin paid out more than 40,000 ETH to players. This is close to $6M at the current exchange rate. The actual house edge (the casino advantage) was less than 1% (0,965%, to be exact).
The biggest win from a single bet happened in the Jack and the Beanstalk game – $2,850 at the then exchange rate. The record-high win in a single game session was in the 300 Shields slot – $8,938. The biggest total win in a single day for one player was $14,552.
To make all these figures trackable and proveable, Fairspin utilizes a toolset provided by the TruePlay blockchain platform. It enables Fairspin to record gaming and transaction stats on blockchain while using classic, non-blockchain games from the world’s leading providers.
Last year, the Fairspin team introduced this technology at major iGaming conferences worldwide (iGB London, SiGMA, MAC, and more) in partnership with TruePlay and online gaming regulator Curaçao eGaming.
Fairspin’s innovative approach to blockchain implementation in iGaming was recognized by nominations for several important awards including EGR Operator Awards 2019 and SBC Awards 2019.
Fake Website Prompts China’s Central Bank to Deny Digital Yuan Launch
The People’s Bank of China (PBoC) said the country’s stablecoin project is still in the testing stage with no date set for its launch, despite online impostors claiming otherwise.
The digital yuan is officially called the Digital Currency Electronic Payment (DECP) and the central bank’s announcement came on the heels of a website DECPAPI.com, featuring an API with a countdown indicating that the national stablecoin would launch on November 20.
“Anything that is trading in the market under the name of DC/EP or DCEP is not the national digital currency, and any launch time suggested on the Internet is inaccurate”, the central bank said on Wednesday in the statement.
The bank also warned potential investors of the rise of scams and ponzi schemes being offered in the name of the digital currency.
“We did not authorize any platform to trade DCEP”, the bank said. “Investors should be aware of companies that pose as the central bank to attract people to ‘trade’ the digital currency, which could be fraught with misleading information.”
The PBoC is running the develop of the stablecoin via its Digital Currency Research Institute, established in 2014 under the supervision of the bank’s payments department.
After a relatively quiet five-year development period, the central bank began releasing more details about DCEP following Facebbok’s unveiling of Libra in June.
Forbes reported in August the national digital currency would be launched on Nov.11, citing an unnamed official from the Chinese government. In September, the central bank denied that date, and said there was no plan to launch the stablecoin within the next 80 days, or before Dec. 10.