In this article we are going to go through the next generation of Blockchain-based online gaming with Xbit Coin and the Xbit project.
Xbit Coin is a cryptocurrency that has been designed to be used by the online gaming industry and more specifically by the online casino Xbit. So, Xbit wants to revolutionize online gaming.
In order to achieve this ambitious goal, the Xbit project has provisioned an already established financial institute to back this cryptocurrency. This established financial backbone is the online Casino Xbit. Therefore, it can be said that the Xbit Coin is considered as representative shares for the Xbit Casino.
In this article, we will take a much deeper look into this coin.
What are the beneficial features of Xbit?
Xbit has so many different advantages for users. Among the features envisioned for users is the ability to stake Xbit Coins. As such, the staked coins are frozen and transferrable. In return, users will receive an annual interest of 5 percent. So, in this way, owners of this coin will gain even more benefit from having it.
When the year ends, this return for the staked coins is calculated by the online Casino Xbit. After that, this amount is divided into 800 million. As a result, Xbit coins could be considered as representative of revenue shares of casino Xbit. Since, in a way all the users and owners of the coin will benefit from the casino as well.
So it can be seen how in fact, if and when the casino would grow and get bigger, the users and coin owners will benefit as well.
Information about the Structure of the Coin
Xbit Coin, has been designed and developed based on the SHA256 algorithm. This is one of the most popular algorithms in the crypto world. Many coins, which also includes Bitcoin, do use this algorithm in fact.
Xbit Coin has its own independently run and operated Blockchain network. This is not the case for all cryptocurrencies. Many cryptos are developed and run based on other Blockchain networks. But, obviously, having an independent Blockchain network will have enormous advantages for the users.
Xbit Coin has a total cap of 1 billion (1,000,000,000) coins. All of these coins have already been mined and ready for use.
What Does the Future of Online Gaming Look Like?
As already mentioned, Xbit Coin can offer some capabilities to its users and owners that are truly out of the ordinary. However, maybe the most extraordinary feature of the Xbit is the vision behind it. The vision is for the wealth to be created in the casino for the users and by themselves. Therefore, the more wealth is created in this casino, more revenue is divided among coins as annual staking profit, and as a result, the more valuable these coins will become. Which is, basically, one of the most fundamental financial and economical concepts, the more demand for a certain supply, the more valuable it will become.