smart contracts</strong></a> used to define the regulations of the game.</p>\n<p>The rules of the game and the odds of winning are both included in the regulations outlined by smart contracts. In traditional gambling, on the other hand, players typically have no idea of the algorithms used in the game, nor do they have any idea of their odds of winning or losing. Thus, this often leads to players getting manipulated into falling for scams.</p>\n<p>Getting back to crypto gambling, since <strong>smart contracts cannot be changed once they are set in motion</strong>, players can be sure that no rules will be changed once they start playing the game. Besides that, all smart contracts are publically stored on the blockchain, which means that anyone can view them anytime.</p>\n<p>Now, it's also worth noting that there are two types of gambling platforms &ndash; <strong>centralized and decentralized</strong>. Centralized gambling platforms work pretty much the same as traditional gambling. Thus, when talking about crypto gambling, people usually refer to decentralized crypto gambling platforms.</p>\n<p>Speaking of which, there are a number of advantages that decentralized cryptocurrency gambling platforms have over conventional gambling platforms. For example, let's take <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/goon/coingames/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>CoinGames</strong></a>, which is a well-known online decentralized gambling casino.</p>\n<p>Just like other decentralized gambling platforms, <strong>CoinGames is</strong> <strong>non-custodial</strong>. In other words, the platform is not the owner of the user's funds. Instead, the aforementioned smart contracts are in charge of holding them. These smart contracts hold the funds until the game is finished. Then, if the player wins the game, the funds are released to them (or kept in the smart contract if they lose).</p>\n<p>Additionally, since <strong>smart contracts can be publicly viewed on the blockchain</strong> by anyone, people are able to look into them in order to see how the platform in question operates and how many other players succeeded or lost. This way, it's easier for users to decide if the platform is worthwhile of their time and money, or not.</p>\n<p>Now, the last thing that needs to be addressed is whether decentralized gambling platforms like CoinGames are legal or not. Although there is no clear-cut response, <strong>these platforms are typically legal in nations and states where gambling is generally accepted</strong>.</p>","level":"easy","meta_title":"What is Crypto Gambling? 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Assets?","featured_image_id":6542,"status":"published","chapter_id":7,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-get-free-crypto","featured_image":{"id":6542,"uuid":"4fceb9ab-391e-4ef9-b00d-c871a49878a3","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-get-free-crypto.o.jpg","path":"crypto/storage/media/how-to-get-free-crypto.o.jpg","original_path":"crypto/storage/media/how-to-get-free-crypto.jpg","name":"how-to-get-free-crypto.o.jpg","original_name":"how-to-get-free-crypto.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"93.93KB"},"youtube_video":null},{"slug":"how-to-arbitrage-crypto","title":"What is Crypto Arbitrage: The Main 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Crypto?","featured_image_id":11394,"status":"published","chapter_id":7,"language":"en","order":7,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-fud","featured_image":{"id":11394,"uuid":"defd32c5-d3e1-4e66-9f58-e2ee316bad3a","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/what-is-fud-featured-image.jpg","path":"crypto/storage/optimized/what-is-fud-featured-image.jpg","original_path":"crypto/storage/original/what-is-fud-featured-image.jpg","name":"what-is-fud-featured-image.jpg","original_name":"what-is-fud-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"65.30KB"},"youtube_video":null},{"slug":"investing-in-cryptocurrency","title":"Investing in Cryptocurrency: How to Manage Your 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Crypto?","featured_image_id":6532,"status":"published","chapter_id":7,"language":"en","order":9,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-a-rug-pull-in-crypto","featured_image":{"id":6532,"uuid":"be8043fb-078c-4487-9af9-d2d9c2b574ea","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-is-a-rug-pull-in-crypto.o.jpg","path":"crypto/storage/media/what-is-a-rug-pull-in-crypto.o.jpg","original_path":"crypto/storage/media/what-is-a-rug-pull-in-crypto.jpg","name":"what-is-a-rug-pull-in-crypto.o.jpg","original_name":"what-is-a-rug-pull-in-crypto.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"92.28KB"},"youtube_video":null},{"slug":"how-to-avoid-rug-pulls-in-crypto","title":"How to Spot and Avoid Rug Pulls?","featured_image_id":6555,"status":"published","chapter_id":7,"language":"en","order":10,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-avoid-rug-pulls-in-crypto","featured_image":{"id":6555,"uuid":"80cbed9d-3b4b-45d9-9a85-d2d8108c0f32","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-avoid-rug-pulls.o.jpg","path":"crypto/storage/media/how-to-avoid-rug-pulls.o.jpg","original_path":"crypto/storage/media/how-to-avoid-rug-pulls.jpg","name":"how-to-avoid-rug-pulls.o.jpg","original_name":"how-to-avoid-rug-pulls.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"111.99KB"},"youtube_video":null},{"slug":"how-to-avoid-crypto-taxes","title":"The Key Legal Techniques of Avoiding Crypto 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Analysis","slug":"crypto-analysis","updated":null,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-analysis.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-analysis-101.jpg","rating":100,"sections":[{"slug":"what-is-bullish-and-bearish","title":"Bearish and Bullish Markets: Do They Matter?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":1,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-bullish-and-bearish","featured_image":null,"youtube_video":null},{"slug":"best-technical-analysis-indicators-for-crypto","title":"5 Best Crypto Technical Analysis Indicators You Must Know 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Tokens?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-track-new-crypto-coins","featured_image":null,"youtube_video":null},{"slug":"how-to-research-crypto","title":"Crypto Research Fundamentals & Social Signals: Your Daily Trading Strategy","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-research-crypto","featured_image":null,"youtube_video":null}]},{"id":9,"title":"Mining","slug":"mining","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-mining.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-mining-101.jpg","rating":80,"sections":[]},{"id":10,"title":"Crypto Terms","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/crypto-101-glossary.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-glossary-101.jpg","rating":100,"sections":["A","B","C","D","E","F","G","H","I","J","K","L","M","N","O","P","Q","R","S","T","U","V","W","X","Y","Z"]}],"nextSection":{"id":2,"original_id":null,"author_id":41,"translator_id":null,"title":"What is Decentralized API (dAPI)?","slug":"what-is-decentralized-api-dapi","section":"D","keyword":"Decentralized API (dAPI)","status":"published","definition":"decentralized application programming interface. A blockchain-based API service.","content":"<p>A <strong>decentralized Application Programming Interface (API)</strong> is a digital solution that enables data and service transmission between mobile and web applications. <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-api/">APIs are a crucial part of the digital economy infrastructure.</p>\n<p>Decentralized APIs (dAPIs) are developed using <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-blockchain/">blockchain technology</strong></a>. DAPIs are utilized to create <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-are-decentralized-applications-dapps/">decentralized apps (dApps)</strong></a> and platforms that work on decentralized systems.</p>\n<p>Digital companies use APIs to provide their services and data as marketable service modules that can then be integrated into apps. The use of APIs helps optimize software development and makes it more efficient.</p>\n<p>Many APIs are <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-centralized/">centralized by design and are referred to as legacy APIs. Centralized APIs are not inherently compliant with blockchain technology, although they otherwise function similarly to dAPIs. The differences between centralized and decentralized APIs related to the API gateway and be easily identified.</p>\n<p>An API gateway is a management tool that acts as a reverse proxy. It accepts client requests and returns the fulfilled services. In a decentralized system, the API gateway redirects the client queries to other API endpoints.</p>\n<p>These endpoints can be an application&rsquo;s backend or a public API of the app&rsquo;s trading partner. The protocol, data conversions, and security measures are handled by the API gateway at runtime.</p>\n<p>In a centralized system, all data is gathered in the section of the API platform known as the central data store. The central data store maintains a near real-time bi-directional synchronization with linked backend apps and business partners via <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-asynchronous/">asynchronous connections</strong></strong></a>. The API queries are directed to the central data storage.</p>\n<h2>The Oracle Problem</h2>\n<p>The oracle problem is a phenomenon of <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-decentralized-network/">decentralized networks</strong></a>. <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-smart-contract/">Smart contracts</strong></a> distributed on blockchain networks are unable to obtain data that is not readily available on the blockchain.</p>\n<p>Therefore, smart contracts cannot directly access APIs from the blockchain in which they are stored. This is due to the unique consensus-based security assurances granted by using a decentralized node network as the app platform.</p>\n<p>The solution to the oracle problem must allow smart contracts to access API data and simultaneously maintain the security assurances of the system to their full extent without creating new attack surfaces.</p>\n<p>This problem can be solved by using decentralized API services to manage various data providers. This solution is viable as they are blockchain-based by design.</p>\n<p>Unlike the decentralized application programming interfaces, existing decentralized oracles do not include the data source API as part of their solution. Decentralized APIs can provide <strong>a higher degree of data transparency</strong> than decentralized oracles, reaching as far as the true data source level.</p>","level":"medium","meta_title":"What is Decentralized API (dAPI)? Definition & Meaning | Crypto Wiki","meta_description":"Decentralized API (dAPI) meaning: Decentralized API (dAPI) - decentralized application programming interface. A blockchain-based API service.","meta_keywords":null,"language":"en","created_at":"2022-02-10T12:41:27.000000Z","updated_at":"2022-05-13T14:32:22.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-decentralized-api-dapi"},"prevSection":{"id":977,"original_id":null,"author_id":40,"translator_id":null,"title":"What is Candidate Block?","slug":"what-is-candidate-block","section":"C","keyword":"Candidate Block","status":"published","definition":"a block that a miner is required to mine as a method of gaining rewards.","content":"<p>A candidate block is a block that a miner has to mine in order to gain <strong>rewards</strong>. It's also referred to as a temporary block. The block is verified and can either be approved or canceled by the network. These blocks are created by <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-miner/">miners.

/n

There is always an ongoing competition between miners. Each miner is trying to be the one that validates and adds the block to the blockchain. However, this is where the candidate block comes into play. Miners are required to generate a candidate block in order to be a partaker in the competition.</p>\n<p>So, there are a few steps as to <strong>how to create</strong> a candidate block. This includes gathering unconfirmed transactions from the <strong>memory pool</strong>, and then systemizing them. There are several transactions that need to be collected.</p>\n<p>After that, the miner hashes these transactions so that they become a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-merkle-tree/">Merkle tree</strong></a>. A Merkle tree is a method of organizing data, and this is done so that the structure of the Merkle tree would later issue a <strong>root hash</strong>. To specify, it&rsquo;s a hash that can be considered as a representation of all hashes and transactions included in that Merkle tree.</p>\n<p>The process continues with the root hash and a nonce being included in the block&rsquo;s header. Like everything else, miners hash the block header. Depending on root hash, nonce, and the blocks before hash - the block is created. It&rsquo;s an output that was generated as an outcome of the process. In regards to a candidate block, it will work as a one-of-a-kind <strong>identifier</strong>.</p>\n<p>Now, it&rsquo;s important that the block is considered to be valid. In order to achieve this, the block hash is required to begin with a particular number of zeros. So, the process of mining goes through several trials and even faces errors. This is because the mining nodes have to go through several attempts of different hashing functions. Also, with multiple nonce values. This goes on until <strong>the valid block hash</strong> is finally created.</p>\n<p>This is a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-proof-of-work-pow/">Proof-of-Work model. Meaning that in order to prove that the miner completed his mining process - the block hash is created.</p>\n<p>To verify the validity of the hash - the candidate block of the valid block&rsquo;s hash will be transmitted throughout other nodes of the network.</p>\n<p>The process ends with the candidate block being <strong>added to the blockchain</strong>. But this only works if there are no errors in the previous process.&nbsp;</p>","level":"medium","meta_title":"What is Candidate Block? Definition & Meaning | Crypto Wiki","meta_description":"Candidate Block meaning: Candidate Block - a block that a miner is required to mine as a method of gaining rewards.","meta_keywords":null,"language":"en","created_at":"2022-05-18T07:00:44.000000Z","updated_at":"2022-06-07T11:49:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-candidate-block"},"currentChapter":"C","currentSection":"what-is-crypto-gambling","chapterTitle":"C","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-is-crypto-gambling","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0">

Handbook Cover Page
Crypto Terms: Letter C

What is Crypto Gambling?

Crypto Gambling MEANING:
Crypto Gambling - a form of online gambling that is based on smart contracts and uses cryptocurrencies as a means of payment.
Easy
2 minutes

Let's find out Crypto Gambling meaning, definition in crypto, what is Crypto Gambling, and all other detailed facts.

In a way, crypto gambling is similar to traditional gambling. However, instead of fiat currencies, crypto gambling uses cryptocurrencies. In addition to that, unlike traditional gambling, crypto gambling provides players with a provably fair gambling process due to the smart contracts used to define the regulations of the game.

The rules of the game and the odds of winning are both included in the regulations outlined by smart contracts. In traditional gambling, on the other hand, players typically have no idea of the algorithms used in the game, nor do they have any idea of their odds of winning or losing. Thus, this often leads to players getting manipulated into falling for scams.

Getting back to crypto gambling, since smart contracts cannot be changed once they are set in motion, players can be sure that no rules will be changed once they start playing the game. Besides that, all smart contracts are publically stored on the blockchain, which means that anyone can view them anytime.

Now, it's also worth noting that there are two types of gambling platforms – centralized and decentralized. Centralized gambling platforms work pretty much the same as traditional gambling. Thus, when talking about crypto gambling, people usually refer to decentralized crypto gambling platforms.

Speaking of which, there are a number of advantages that decentralized cryptocurrency gambling platforms have over conventional gambling platforms. For example, let's take CoinGames, which is a well-known online decentralized gambling casino.

Just like other decentralized gambling platforms, CoinGames is non-custodial. In other words, the platform is not the owner of the user's funds. Instead, the aforementioned smart contracts are in charge of holding them. These smart contracts hold the funds until the game is finished. Then, if the player wins the game, the funds are released to them (or kept in the smart contract if they lose).

Additionally, since smart contracts can be publicly viewed on the blockchain by anyone, people are able to look into them in order to see how the platform in question operates and how many other players succeeded or lost. This way, it's easier for users to decide if the platform is worthwhile of their time and money, or not.

Now, the last thing that needs to be addressed is whether decentralized gambling platforms like CoinGames are legal or not. Although there is no clear-cut response, these platforms are typically legal in nations and states where gambling is generally accepted.
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