Online gambling and casino, EarnBet, has recently announced that it is integrating advanced decentralized networks developed by Chainlink. According to the announcement, EarnBet aims to decentralize its online gambling platform further by partnering with Chainlink, one of the world’s largest decentralized oracle networks.
With Chainlink’s multi-oracle integration, EarnBet will get access to multiple resources on off-chain data. These resources will primarily provide sports data and help EarnBet’s betting algorithms. The integration will also provide feeds on market data insights. By using the Chainlink’s Verifiable Random Function (VRF), EarnBet will get access to an on-chain source of unbiased randomness data.
Being the first fully-decentralized online casino, EarnBet deals in the gambling of dice, blackjack, baccarat, and crash games. While it started off running on the Ethereum blockchain ecosystem in 2018, EarnBet has deployed its own EOS mainnet under an iGaming license. EarnBet’s smart contracts on the WAX blockchain helped it expand its decentralized online casino business.
With the Chainlink integration, EarnBet aims to mitigate its challenges in developing crypto-wagering applications. These apps run on sports data and market predictions in a decentralized manner. To augment its on-chain functions, EarnBet plans to expand the decentralization of its eSports games and wagering operations on sporting event results.
Chainlink will build a bridge of communication between EarnBet and these off-chain data resources. It will build additional infrastructure, perhaps a multi-oracle network, and help EarnBet utilize it with the platform for making fully-decentralized. Chainlink’s decentralized oracle network will help EarnBet with smarter contracts for retrieving off-chain data and will help in the validation and broadcasting of on-chain data.
In 2020 and beyond, EarnBet will use Chainlink for data aggregation across multiple data sources and multiple oracle nodes. It will ensure the delivery of data in EarnBet’s gaming dApps and would not face any single point of failure at any single source of truth.
When EarnBet completes integrating Chainlink’s multi-oracle network on WAX, it will push data to its smart contracts from all online APIs. It will collect sports data from multiple providers of betting odds. It will also package these sources and bundle them with standard bookmaking methods. It will help EarnBet participants check the “true odds” of a sporting event via market-based mechanisms.