mia-and-the-marbles

Hamster-Powered Marble Races Come to Ethereum

Crypto gambling continues to grow thanks to several innovative developments that have been causing quite a stir in the gambling industry. We have already seen lots of amazing innovations but, as it turns out, there is so much more to come. The latest development in the sector has come in the form of a new model of gaming.

Referred to as “Mia & the Marbles” the new model of gambling that is now available on Ethereum has been in development for over two years. It is a pretty ambitious project that has the potential to shake up the crypto gambling sector in many ways.

How Does It Work?

Mia & the Marbles (M&M) is powered by Mia, a female Djungarian or “winter white dwarf” hamster, and her trusty hamster wheel. With the help of a group of accomplished developers, Mia and her wheel make some very fun and engaging marble races possible. The result is a very unique and surprisingly robust marble-racing and wagering platform.

Needless to say, this is a rather unusual form of gambling but it is implementation has proven that there is indeed room for such extraordinary ideas. Speaking on the project, the developers behind Mia & the Marbles affirmed that participants can rest assured that they will be treated to all the benefits that come with Ethereum. That is, all the marble races are provably fair, provably live, and easily-verifiable.

“We can guarantee that the races are taking place in real-time and are not pre-recorded. We do this with our provably live video stream that shows the first 8 bits of the current Ethereum blockhash physically on the race track with 8 movable pegs. A high peg stands for a 1, a low peg for a 0.”

Also integrated into the new model of gambling is a compensation service. This has been put in place to sort out any races where accurate results cannot be introduced after two days.

More to Come?

Many ambitious projects are currently being pursued in the crypto gambling space but, as expected, not many of them see the light of day. The M&M project’s success is, however, proof that with the right kind of push, just about anything is possible. Even though the form of gambling the new game introduces stands out quite a bit for being unusual, the strong push for fair gambling was certainly bound to turn some heads.

That said, there are lots of opportunities in the online gambling and crypto sectors which means that M&M is probably just the beginning of even more launches.

Ethereum

Ethereum Drops Below $200, Further ICO Selloff Expected

Over the past few months, Ethereum investors have had to cope with bears from everywhere thanks to the pessimistic news and sporadic or wavering statements that have grown rather rampant within the period of its existence. While a lot of work has been put into the Ethereum project, the digital currency otherwise known as ETH has managed to plunge so deeply to a new all-time low of about $183 – this is the first time that the cryptocurrency market is seeing a bloodbath that has caused a plummet of close $198 billion.

There was a boom in the number of Initial Coin Offerings in towards the end of the 2017 and early this year, something that drew the attention of a number of different market players including mainstream media. Ethereum happened to be one of the biggest beneficiaries of this rapid increase in the number of Initial Coin Offerings. In fact, the digital currency remains to be the second biggest cryptocurrency market and its smart contract has spawned several projects including Tron and EOS.

Unfortunately, this year has not been Ethereum’s best year having gone through a constant drop this year. This drop in Ethereum’s value has been one of the most shocking outcomes in the cryptocurrency industry and the ICOs are reportedly to blame for the digital currency’s downward price trend.

“The blockchain space is getting to the point where there’s a ceiling in sight. If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore,” Vitalik Buterin, the co-founder of Ethereum commented on ETH’s decline.

This is certainly not good news for speculators and crypto enthusiasts who purchased digital currencies at high prices at the beginning of the year with the hopes of stopping glosses from the year-long slump. As such, it is very important for stakeholders to have practical anticipations for possible gains especially considering last December’s astounding flare-up in crypto prices that was described as a “retail bubble” by many investors.

Why Fingers Are Pointing to the ICOs

Ethereum-based ICOs have spent 157,700 ETH over the past 8 days – this is equivalent to $29.9 million at the digital currency’s present value and is the highest amount spent since March. Due to this, there has been speculation that the cryptocurrency startups have been offloading Ethereum for fiat currency on major exchanges.

Alex Kruger, a cryptocurrency analyst, says that about 4 percent of the Ethereum held in visible ICO wallets was transferred out last month. Kevin Rooke, another cryptocurrency analyst, also pointed out that the Ethereum reserves held by ICOs fell to $600 million in the last week. This ICO cash-out is one of the causes of ether’s 40 percent price drop over the past month.