What is CHIPS Coin (CHIPS) Crypto Beginner’s Guide
CHIPS is a cryptocurrency that is associated with a decentralized, blockchain-based platform called Bitpoker. Bitpoker is on track to become the future of online poker and has an ultimate goal of enhancing the current poker industry by introducing decentralized Ledger technology.
Bitpoker operates as a peer-to-peer platform that doesn’t involve any central authorities or third parties; users of the platform interact only with each other. Bitpoker aims to be the open bazaar of the online poker industry; it emphasizes that current game models are being replaced more and more often by transparent, secure, and decentralized structures. Blockchain technology is revolutionizing the way that poker is played online, and Bitpoker is at the forefront of the promise and benefits of blockchain.
As a distributed system, Bitpoker is a platform that wants to prove that it is fair. Since it’s decentralized, no central player can manipulate the game, or control the outcome of any of the bets. All participation will be open and transparent, and users can play without worrying about whether they’re being cheated. As this new way of playing poker is slowly taking over the online industry, Bitpoker provides a platform for poker players to stay at the forefront and enjoy the game they play.
Features of Bitpoker
Bitpoker was created by Dmitri Motrov, who was a professional poker player for eleven years, and his partner Lucas Cullen, a software developer with Bitcoin. Bitpoker is registered and has been launched from Costa Rica.
Bitpoker uses Whisper to allow users to quickly send and receive messages on the platform; this ensures faster gameplay, making it akin to playing in real life. Deposits and withdrawals are handled on the Bitcoin network and the players utilize cryptocurrencies during their gaming.
Money always remains in the control of the player; players can always view and control their funds. Unlike traditional poker sites, Bitpoker also does not require participants to have a centralized wallet or server, and the platform uses Ethereum Smart Contracts.
The CHIPS Coin Token (CHIPS)
CHIPS are the cryptocurrency that is used on the Bitpoker platform; rather than fiat currency, or real-world money such as USD, players use CHIPS to play poker. As a CHIPS token holder, users are allowed to operate a “bitcoin table” and can play a rake-free game. There are plans to implement CHIPS on other online casinos and poker startups, creating a whole network of poker players who hold CHIPS, and that way other platforms do not need to create their own cryptocurrency from scratch.
Currently, the coins are listed at $0.11. During September 2017, CHIPS reached a peak as the cryptocurrency had a market capital of $2.3 million. At that time, nearly $2,000 worth of the coin was traded daily. The pre-sale for CHIPS started on August 15th, 2017, and the ICO took place in September.
Bitpoker aims to bring all the benefits of blockchain technology to the world of online poker. As the poker industry becomes more and more open and transparent, the platform offers users a unique opportunity to enjoy the game of poker as they are in complete control of their money. Bitpoker represents the future of the online poker industry and is a unique way for people to get involved.