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Jerome García June 24, 2021 5 min read
Hashing It Out Ep 5: BSV Wallet App Brings Opportunities for the iGaming Industry
The latest episode of Hashing It Out show with host Becky Liggero Fontana features Alex Shore, CTO at BitBoss, and Lin Zheming, founder of DotWallet. In the fifth episode of Calvin Ayre’s show, the two industry professionals reveal the importance of BSV’s Dynastic update and how the iGaming industry can benefit from BSV wallet apps.
Lin Zheming and Alex Shore Participate in Hashing It Out Ep 5
The latest episode of Calvin Ayre’s Hashing It Out show is now out. Industry professionals Lin Zheming, founder of DotWallet, and Alex Shore, CTO at BitBoss are the latest participants in episode five of the show with host Becky Liggero Fontana.
In the latest episode, the industry experts point out how significant Bitcoin SV (BSV) dynastic update was and what benefits it may bring for the iGaming industry. Furthermore, the duo unveiled details regarding a recent partnership between DotWallet and BitBoss. Both Zheming and Shore shared that they are incredibly excited about the huge opportunities which the BSV blockchain technology can offer.
How Important Is BSV’s Dynastic Update?
Earlier this year, an important BSV update was released. In February, the Dynastic update for BSV Node software was released. In essence, the update increased the unconfirmed transaction limit from 25 to 1,000. This increase enabled applications using BSV to take advantage of scaling opportunities when it comes to linking transactions.
Hashing it Out explained the process as a “waiting room for recent transactions that are ready to be included in a block.” Before the update, the so-called waiting room was limited, which resulted in delays for applications using it. However, once the Dynastic update kicked in, the so-called waiting room increased its size, which made it perfect for iGaming applications that are constantly processing a huge number of transactions.
BSV’s Dynastic Update Brings Significant Advantages
According to Shore, the update “blows the doors wide open,” considering that operators no longer need to restrict the speed of play, because of the high limit of chain transactions. He explained that previously, 12 bets represented roughly 25 chain transactions that have not yet been confirmed in a block.
“So it opens the doors wide open for the speed of play that we can offer on our platform.”Alex Shore, CTO, BitBoss
Now, with such a high limit, players cannot get ahead of 1,000 chain transactions. Furthermore, Shore stressed that, once the block gets mined, regardless if it takes 5, 10 or 20 minutes, the clock resets and the system starts over with 1,000 chain transactions.
“It’s a huge advantage over non-blockchain-based online gaming platforms.”Alex Shore, CTO, BitBoss
Another advantage that Shore noticed in the Dynastic update is that it helps prevent “double spending” or cheating. He explained that this is achieved by associating the player’s bet with the bet result or payout which the player may receive. He did not miss saying that preventing cheating is a huge advantage for BSV when compared to other non-blockchain platforms.
What Are the Benefits of Using DotWallet?
As a founder of DotWallet, Zheming explained what benefits the wallet app brings. He acknowledged that, although the majority of the users are from Southeast Asia, DotWallet is undoubtedly one of the most popular wallet apps for BSV. Besides sending and receiving funds, the app allows users to exchange tokens. Furthermore, users can also benefit from using the app ecosystem which allows them to navigate through different applications, giving them the freedom to discover what more they can do with their digital assets.
“We created a wallet that helps users to manage their digital assets, to make them more transparent for the user to see what they could do with their assets.”Lin Zheming, Founder, DotWallet
In that line of thought, Shore revealed that Zheming and DotWallet are “blowing the doors wide open on the app store concept.” He explained that by using DotWallet’s app center, users do not need to log into a Google account or follow the regulations of Apple for example. Shore stressed that DotWallet’s idea is big and will undoubtedly deal with censorship which may be enforced by big tech companies.
Dragon: Possibly the Most Popular BSV Casino in Southeast Asia
Another topic discussed within episode five of Hashing It Out is Dragon Casino. One of the biggest BSV blockchain-powered mobile casino brands in Southeast Asia is Dragon BSV Casino. The casino offers multiple unique features that make it appealing to users. Such features are instant deposits and payouts from and to users’ wallets. Furthermore, the games are “provably fair” considering that each game transaction is recorded on the blockchain.
Here, Shore explained that BitBoss is running the gaming platform for online casino operators and Dragon BSV Casino was among the first providers that were white-labeled within the platform. Furthermore, he revealed that Dragon Casino’s focus is the entire Asian region.
DotWallet Teams up with Dragon BSV
Earlier this year, BitBoss announced that it integrated with DotWallet. As a result of the integration, DotWallet’s more than one million users gained access to BitBoss’ white-label apps such as Dragon BSV Casino.
Speaking about the partnership, Shore said that it’s a “win-win.” Furthermore, he revealed that BitBoss receives access to a whole new channel of users. This, according to him, is beneficial, considering that users can easily access real-money gaming. Furthermore, Shore did not miss saying that users can transfer BSV from their DotWallet wallet to their Dragon wallet with ease. Undoubtedly, the partnership will bring even more benefits for the two companies, considering the continuous interest in BSV and the benefits which it brings for the iGaming industry.