A new Android poker app is breaking new ground by allowing players to wager with Ethereum, an emerging crypto-currency. Referred as Ether, the exciting digital currency utilizes virtual contracts to manage the transfer of funds between two parties. In the case of Uncle Finney’s Poker, a heads-up, two player poker game exclusive to Android mobile devices, smart-contract technology manages and settles bets.
All pre-agreed conditions of the smart contract must be fulfilled before either party receives payment in Ether, with funds held in virtual escrow until that occurs. The smart-contract technology that handles this vital escrow function is known as Ether For The Rest Of The World (E4ROW), which manages all deposits and pay-outs on the app in real time.
All pre-agreed conditions of the smart contract must be fulfilled before either party receives payment in Ether, with funds held in virtual escrow until that occurs. The smart-contract technology that handles this vital escrow function is known as Ether For The Rest Of The World (E4ROW), which manages all deposits and pay-outs on the app in real time.
Added Security and Trust
The fact that the app operator never holds the virtual funds that are in play marks one of the major appeals of Uncle Finney’s Poker. It acts as a disincentive for hackers that attempt to penetrate gambling operators’ software, while also ensuring users gain access to their funds as an when they win them, rather than enduring lengthy delays during the payout process. Additionally, users don’t have to worry about their funds being deposited to an off-shore casino before they can start playing. The creators of Uncle Finney’s Poker are hoping these factors will make their product a more trustworthy mobile betting platform in the eyes of millions of crypto-currency poker players across the world.
The Rise of Cryptocurrency
Like other crypto-currency such as the commonly known Bitcoin, Ethereum has enjoyed significant uptick in market capitalization in recent months. Combined with the fact that poker is the world’s most popular card game, with over 100 million players worldwide, the launch of the world’s first Ethereum poker app looms as an opportune move by Uncle Finney’s Poker. The app joins over 250 other poker apps on the Google Play store, yet is the only one dealing in Ether. Should the increasing prominence of cryptcurrency in the mobile betting space turn into a fully fledged boom, it is sure to be followed by other counterparts in the future.
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