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What Is Edgeless?

Jan 19, 2023
4 min read

This blog post will cover:

  • What is Edgeless (EDG)?
  • Where did Edgeless (EDG) come from?
  • What are the advantages of Edgeless (EDG)?
  • What are the disadvantages of Edgeless (EDG)?
  • How to exchange crypto on SimpleSwap?

What is Edgeless (EDG)?

What is Edgeless (EDG)? If you are familiar with the casino world, you know that there are a lot of problems in this area. Such things as thefts create a bad image for this industry. In addition, gambling business is illegal in the most countries, and government fights it vigorously. However, the casino industry is growing incredibly quickly. And some gamblers and developers are concerned about making the experience more convenient for customers.Edgeless is an instrument that is supposed to make gamblers’ life easier. This is not just another cryptocurrency, this is also a virtual casino. With the help of new technology it is possible to overcome fraud and make gambling safer.

Where did Edgeless (EDG) come from?

Edgeless appeared as a result of collaboration of gamblers and developers. It was created to change the casino industry and to make gambling experience reliable. Of course, it did not appear as a huge online casino. The story of Edgeless started when a group of enthusiasts created a slot machine, which had an interesting feature. It was built on smart contracts. Here are the main members of the developer team:

  1. Tomas Draksas. Co-founder of Edgeless.
  2. Tomas Lukosaitis. He controls the business process.
  3. Ignas Mangevicius. He develops systems that operate on blockchain technology.

What are the advantages of Edgeless (EDG)?

The main idea that stands behind Edgeless is to solve problems connected with casinos. First of all, it is a desire to avoid built-in casino's advantage or house edge.The other significant problem is a lack of transparency.Edgeless has a number of significant advantages:

  1. It is built on Ethereum blockchain that enables it to use smart contracts
    Every bet is supported by smart contracts. All the calculations are made automatically.
  2. Smart contracts technology helps to avoid fraud
    When this technology is used bet and possible outcome cannot be changed.
  3. Guaranteed payout
    The fact that smart contracts protect the betting process means that winners are paid undoubtedly.
  4. There are a lot of wallets where you can store EDG
    So users are able to choose the most suitable for their needs.
  5. An opportunity to avoid house edge
    We all are aware of the fact that casinos have their percent from every bet. With Edgeless online casino the house edge is 0%.
  6. Anonymity
    Edgeless is determined to protect users’ identity.
  7. Transparency
    No secrets, everything is visible and under control.

What are the disadvantages of Edgeless (EDG)?

Although Edgeless seems to be a great instrument, some people would say it has a number of drawbacks, such as:

  1. It is impossible to mine Edgeless
    EDG was issued in a limited amount. Now only the casino administration is able to make a decision to issue some more.
  2. Although Edgeless helps to give gamblers a better version of casinos, it cannot eliminate all the risks
    You still can lose.

How to exchange crypto on SimpleSwap?

Now you know a little more about Edgeless. If you want to continue your immersion in the Crypto World and purchase some cryptocurrencies, you are welcome to use SimpleSwap by following the simple instructions:

  1. For example, you want to swap BTC to ETH. Select the currency you want to exchange (e.g. BTC) in the first drop-down list. Then enter the amount you want to swap.
  2. Select ETH in the second drop-down list. You’ll see the estimated amount that you’ll get after the exchange.
  3. Click the Exchange button.
  4. Enter the Recipient's Address. ETH will be sent there. Be careful and make sure you use the correct address.
  5. Create the exchange.
  6. You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the BTC to ETH exchange.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

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