As many have heard, A Mr. Mark Cuban known for being a headfast democrat as well as a judge on the popular Television show Shark-Tank, and Sir Ashton Kutcher, have both decided to back the new unikoin ICO.
The nature of the Unikoin is sports betting that is based on the ethereum platform. Being from Vegas, I am quick to understand the importance and hugely profitable nature of betting, yet I still do not support the idea of putting money into the Unikoin ICO.
The problem with Unikoin is two-fold. The first is that the coin is only capable of handling sports betting, which is such a small percentage of total money allocated into betting. I have never heard of a casino that has just a single game to play. This is relevant when we examine the fact that the coin does not currently exist. This is hugely problematic when we look at the reality that right now several gambling coins have already launched. While they may not have the backing of Sir Ashton Kutcher, they already exist. Perhaps even more importantly, the coins that currently exist, are able to handle as many types of games that you can think of. One such coin includes Peerplays, and while the variety of games that will be offered in the future may not exist just yet, atleast the coin does.
The second reason why Unikoin should not excite you, is the fact that it is based upon the ethereum blockchain. This means SLOW transactions, and for betting, they need to be fast! This can be compared to the aforementioned alternative peerplays, which utilizes Graphene. Graphene can handle transactions 30,000 times faster than ethereum. This would mean nearly instantaneous payouts for betting. Also you are not locked into sports.
Thanks for reading this post. Steem on.
