At the start of this week, we asked players what their preferred gambling cryptocurrency was. Given the choice between big hitters, but not gambling specific tokens bitcoin and TRON, as well as ERC-20 tokens on the Ethereum blockchain, voters opted overwhelmingly for ‘Other', listing CasinoCoin (CSC) as one of their favourite gambling projects.
In fact, 67% of those who partook chose to ignore BTC, TRX and ERC-20 tokens in favour of alternatives. And they commented almost fully in favour of CSC. The altcoin was built specifically with the online casino industry in mind, and although yet to go live with a functioning product, they've made waves with numerous partnerships of late.
On top of this, it appears that CasinoCoin's very loyal community are keeping the management team to account, while also doing their bit in spreading the word on social channels, such as our twitter poll. All this has meant CSC as a token boasts a very healthy market capitalisation of over $16m at time of writing.
Another interesting takeout from the poll was the lack of support, albeit not by much, for bitcoin. Bitcoin was the first token to kick off the crypto gambling sector, ensuring the rise of dice and crash titles a few years back, but it's safe to assume that players now prefer gambling-specific tokens over less scalable ones like BTC.
🗳️ This week's poll: which is your preferred cryptocurrency for gambling❓
Join the debate ➡️ https://t.co/HfCBVkMXPv
— Crypto Gambling News (@cryptogamblingx) May 25, 2020
Saying that, the popularity of crypto casinos such as Bitcasino.io and 1xBit are still leading the way in providing a quality casino product and bitcoin is at the heart of their offer. It could be that gambling specific tokens appeal to a more crypto-savvy audience, whereas a higher proportion of those who gamble with bitcoin today are making their first foray into the crypto space.
ERC-20 tokens took 10.5% of the vote, but in reality, they command far more popularity within the gambling world, as we've scene with the success of projects such as FunFair, with its FUN token, and Edgeless (EDG). ERC-20 gambling tokens pioneered in bringing fairness to igaming, and although others such as TRON have caught up to an extent in that regard, the former's burgeoning player base shows they have a huge role to play in the future of decentralised gaming.
Speaking of TRON, voters put them ahead of BTC and ERC-20, just. And we're not all that surprised. The popularity of the TRON network and its TRX token has led to a massive take up of quality TRX crypto casinos, like WINk. And with developments in TRON wallets and the popularity of mining and staking for TRC-20 tokens, arguably the TRON blockchain has the largest focus on gambling as a use case.
We'd like to thank all who voted this week, and make sure to follow our Twitter account, so you can have your say on our weekly polls.