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Blockchain Poker: Reflecting on a Trendsetter

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Online poker has always been a popular form of entertainment, but concerns surrounding fairness and security have often plagued the industry. Enter Blockchain Poker, a groundbreaking platform that used blockchain technology to address these issues head-on.

Fans were stunned when the platform closed in December. In this article, we look back at what Blockchain Poker brought to the online gaming party.

### What was Blockchain Poker?

Blockchain Poker was an innovative online poker platform that leveraged blockchain technology to provide players with a transparent and secure gaming experience.

Built on the Ethereum blockchain, it offered a decentralised environment that eliminated the need for intermediaries and ensured that games were provably fair.

How did it work?

The platform operated on the principles of transparency and decentralisation.

By utilising the Ethereum blockchain, it guaranteed that no alterations or manipulations could occur during gameplay. Smart contracts handled the distribution of funds, ensuring that payments were automated, secure, and tamper-proof.

To participate, players needed to have an Ethereum-compatible wallet. Once registered, they could deposit their desired amount of Ethereum into their wallet on the platform. This allowed them to join cash games, tournaments, and Sit & Go tables.

The gameplay experience on the platform closely resembled that of traditional online poker platforms. The platform supported various popular poker variants, including Texas Hold'em and Omaha, with both cash games and tournaments available.

The user-friendly interface and smooth gameplay made it a compelling choice for poker enthusiasts.

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Was Blockchain Poker any good?

The platform garnered a positive reputation among online poker players for its commitment to transparency and security. The use of blockchain technology ensures that every hand is provably fair, assuaging concerns about cheating or tampering.

Furthermore, the platform's decentralised nature allowed players to retain control over their funds. Unlike traditional poker platforms that require users to trust a centralised authority, this one ensured that funds were securely stored in each player's personal wallet.

This setup prevented the risks associated with central point-of-failure and provided greater peace of mind to the players.

While the platform initially faced scalability issues due to Ethereum network limitations, the team behind this online poker offering continuously worked to address these concerns. As blockchain technology evolves and scales, it was expected that the platform would become even more robust and user-friendly.

But that was before December…

Blockchain Poker closes

On 12 December, 2022, the platform became the latest in a series of online poker sites to close its door.

While play stopped on that date, the platform stayed open for withdrawals so players could get their funds back.

It was not immediately clear why it had shut, although a Reddit post apparently from the platform offered some insight.

The post claimed that Blockchain Poker had entered the space to help encourage the adoption of Bitcoin and that this goal had been achieved. It said crypto is 'here to stay' so the purposes of the platform had been accomplished.

While this sounded like an honourable reason for closing the site, others pointed to regulation and competition as contributory factors.

In its report, beathefish.com pointed to licensing, competition, and technical issues as playing a role.

It claimed that the fact that the platform was not licenced restricted its ability to operate in many jurisdictions. While some online poker sites operate with licences from places like Antigua and Curacao rather than specific US states, Blockchain Poker did not even apply for a licence in these locations.

While this was a popular platform, the report continues, the emergence of others offering more games, better experiences, and more attractive bonuses impacted on the number of users of the ‘no frill’ Blockchain.Poker site.

Finally, the report adds, it had become obvious that Blockchain Poker was not a sizeable operation, meaning there were technical issues that were not always fully addressed. The story pointed to complaints of frequent crashes and slow loading.

Exploring alternatives

There are other notable platforms that offer cryptocurrency-based gameplay.

CoinPoker: utilises its native cryptocurrency, CHP (CoinPoker Tokens), for all transactions. Built on blockchain technology, the platform offers a diverse range of poker variants, tournaments, and cash games, with an emphasis on the Asian market. CoinPoker's user-friendly interface and dedicated mobile app make it accessible for players on the go.

BetOnline: this well-established online gambling platform has integrated crypto as a payment option. While not solely focused on poker, BetOnline offers a comprehensive poker section that accepts popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin. The site provides various formats, including cash games, tournaments, and Sit & Gos. Its reputation for reliability, extensive player pool, and enticing promotions make it a viable choice for cryptocurrency poker enthusiasts.

### Conclusion

Blockchain Poker was undoubtedly a revolutionary step in the online poker industry with its transparent and secure approach. By leveraging blockchain technology, it provided players with unprecedented trust and fairness. While facing competition from other blockchain-based poker platforms, this site tried to continue to deliver a reliable and enjoyable gaming experience.

However, the platform closed at the end of last year because it felt its job was done or due to other factors such as licensing, competition, and tech issues.

Despite that, blockchain technology's use in online poker has a future. The integration of transparency and decentralisation has the potential to reshape the way poker is played, offering players a level playing field and enhanced security.

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Author: Brendan Beeken

Moni Talks Founder and Chairman Brendan Beeken is an entrepreneur, commercial strategist, investor, and philanthropist. He writes on a wide range of subjects, including cryptocurrency, decentralised finance, blockchain, business advice, and professional wellbeing, for news and business websites, as well as Latest Moni and his personal site, brendanbeeken.com. Brendan draws from his own research and more than two decades of personal experience in business to offer a unique insight, perspective, and commentary on diverse subjects. He is passionate about making the cryptocurrency space more accessible and encouraging safer and more responsible trading and investing. Brendan's LinkTree is https://linktr.ee/brendanbeeken.


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