We are entering the Web3 generation.
Web3 is purported to be a more secure, private and decentralised platform, that is faster and more efficient than its predecessor. Think about AI, voice-recognition software, virtual-reality headsets and augmented-reality glasses and the effect on how people play online games. That is what we will delve into here.
The main difference between Web 2.0 and Web3
Whereas Web 2.0 is based on centralisation and control of a few institutions, Web3 promises a virtual landscape based on decentralisation and peer-to-peer transactions, mainly facilitated through the integration of blockchain technology. This ecosystem not only reduces the power held by the few, but also instils the notion of transparency and fairness. Transactions and process on the blockchain are free for viewing by all those connected, so users have visibility on what happens to their data. Moreover, processes are completed mainly through self-executing smart contracts, eliminating the possibility of tampering. For iGaming (online betting), this means players should theoretically have more transparency regarding their funds and data, which ultimately creates a greater sense of security and an enjoyable gaming environment.
Faster and more efficient access to online casinos
Web3 promises to make the online gaming experience faster and more efficient. It will likely accomplish this by improving the data transfer speed between a user's device and the server that hosts their chosen casino's website. For one thing, Web3 may increase users' access to their favourite casino games by having more decentralised servers across several regions. It could allow players to play at speeds up to 10 times faster than before. You won't have to wait ages for your bet or spin on a slot machine.
Web3 could make payments easier
One of the most touted features of Web3, and more specifically blockchain technology, is the use of cryptocurrencies as a form of payment. The one feature that grasps most users' attention is the security of these currencies. The cryptographic algorithms are almost unbreakable, so transactions are guaranteed to be secure and safe. For online gambling UK sites, providing a secure and efficient way of depositing and withdrawing money is one sure way of attracting a wider user-base, for example. Therefore, Web3 will give users complete control of their funds, avoid the use of centralised payment providers and help them feel more comfortable when online.
Connectivity and ubiquity
In a world where everything is connected, your iGaming site must be able to support the vast number of devices accessing it, no matter what device you're using. You need to still be able to access your favourite games and experience them optimally.
With more connected devices, people may want to share their experiences with others, and Web3 could allow for this. Players could share experiences and be able to interact within these shared environments.
Personal data control and decentralisation
As previously mentioned, one of the most incredible things about Web3 is personal data control and decentralisation. In Web 2.0, your data is controlled by the websites you visit and the companies that own them. This feature means they can do whatever they want, such as:
- Tracking your online activity
- Selling it to advertisers
- Using it against you if someone hacked into their system
In Web3, iGaming players may have the option to sell their own data to providers in order to get a more tailored experience. This creates a shift from centralised institution selling user data to advertisers, to users purposefully giving access to certain parts of their online data as a mutual transaction with the provider.
Conclusion
The iGaming industry is already a giant industry, and there are still many ways it can grow, but Web3 will no doubt play a large part in how this happens. With blockchain technology, we could see a new era of online casinos emerge with more transparency and security than ever before.
This post was sponsored by Media Web City
