Provably Fair

      The term “provably fair” is unique to the blockchain industry because of the implications regarding verification/validation that come with blockchain technology.

     Provably fair is used in the context of gambling and casinos. Whenever a game is being played digitally how can the player be certain that the algorithm has not be stacked against him in such a way that will never allow him to win? When in dealing with blockchain environments; if a gambling game is deployed as a DAPP, then the machinations that underlie its operations can be verified. 

   Flip of a coin. 
   In theory, if a coin is flipped 100 times, the amount of times there would be a heads & tails would average out to 50:50 (or a deviation close to that 47:53). If somebody is betting on the outcome of that coin flip they want to have guarantee that that coin has not been altered in a way that would favor their counter party; fair players want the circumstance to be neutral (sore losers need to cheat). If a coin is being flipped digitally, they must be some mathematic randomness that takes place and can be proven upon request; it must be “Provably Fair“.

      Related Terms:



BTC: bc1qcskmel9llhrdqj3arxyqnennx4ashvfutlreyy
LTC: ltc1qa0fj4lcu5365rep50aza5fqqvx8ef0afemh6s5
ETH: 0x071D72dbc48ad2Fe35daE256eCF0834C5dde688c
DASH: XgXHqVyJiQNdVVszH9cnqCP4uWcP8tVxdK
BNB: bnb1mau4j8kry0jgw45ufy69hvhd0k04llet8fk2p6

Welcome To The Crypfo Initiative!

There was an error while trying to send your request. Please try again. will use the information you provide on this form to be in touch with you and to provide updates and marketing.
Join the Leaders of the Digital Economy.
Gain Access to Specialized Crypto Asset Insight before anyone else.