A Comprehensive Review of the vSlice Coin Cryptocurrency
Regardless of whether you’re deeply involved with cryptocurrencies or you don’t have the slightest idea what that means, there’s a good chance you’ve heard about Bitcoin or Ethereum at some point. Seeing as it’s a very complicated concept that not all of us are interested in, it’s only natural that you don’t know what vSlice is, right?
However, there’s more than one reason to learn all about this cryptocurrency, why it’s becoming big and how you can profit from it. Without further ado, let’s begin.
In the Beginning…
Let’s start things off by explaining what a cryptocurrency actually is. Basically, it’s a digital asset which is designed to operate as a medium of exchange. In order to make transaction secure and to successfully control the making of additional units of currency, it uses cryptography. As a matter of fact, cryptocurrencies are actually a subset of digital currencies, which in turn are a subset of virtual and alternative currencies.
It all started back in 1998 with “b-money” – an electronically distributed and anonymous cash system. “Bit Gold” was created shortly after using the original concept, only for the now-popular Bitcoin to take things over in 2009 as the first decentralized cryptocurrency. It wasn’t long until the world saw more cryptocurrencies surface everywhere, such as Namecoin, Litecoin, Peercoin, and more.
That’s not the end of it, however. In 2014, Ethereum was brought into existence – a public, open-source, blockchain-based, smart contract computer platform. It’s used to execute scrips via an international network, which allows cryptocurrency farming. It also has its own cryptocurrency token named “ether.”
What is vSlice Coin?
Now it’s time to take a look at the next most popular use of cryptocurrencies and how the vSlice coin became a thing.
In case you didn’t know, somewhere between 50 and 60% of all Bitcoin transactions on a global level come from gambling, while Ethereum is most likely headed down this path, as well. If anything could make gambling decentralized and greatly improve popular gambling sites (like Satoshi Dice), it would definitely be Ethereum.
Bitcoin’s most successful blockchain gambling game was by far the Classic SatoshiDICE. This site was able to process millions upon millions of bets, which allowed it to sell more than $70,000,000 just in the year 2013.
This, naturally, caused a lot of cryptojunkies to start gambling their virtual coins online, and on the other hand, it pushed towards the creation of more cryptocurrency gambling sites. One such site is vDice.
vDice started off as a direct copy of the Classic SatoshiDICE gambling game, but with one huge difference – it’s implemented as a Dapp (Ethereum Smart Contract). This makes it the very first live and completely decentralized gambling platform on the planet.
Why is this important? Because you don’t need an account or any 3rd party in order to participate in vDice. All you need is your own Ethereum wallet and you can start gambling by sending funds directly to the aforementioned Smart Contract on the Ethereumblockchain. Your bet gets processed and the Dapp sends the potential win back to your Ethereum wallet. It’s public, its code is verified, and it’s located on the extremely public Ethereumblockchain.
Here are a couple of reasons why vDice is simply awesome:
· Doesn’t require any accounts
· No third party involved
· No internal database
· You have total control of funds
· Fair betting
· Global access
Now we’re getting to the titular cryptocurrency – vSlice. It’s not a cryptocurrency like Bitcoin per se, but it’s more of a profit sharing token.
As it happens, vDice decided to release a total of 96,000,000 of these tokens in late 2016 via a 4-week-long Crowdsale. The tokens could be bought via Ethereum at these prices:
· Week 1 – 1 Ethereum = 130 vSlice
· Week 2 – 1 Ethereum = 120 vSlice
· Weeks 3 and 4 – 1 Ethereum = 100 vSlice
This begs the question “what is vSlice good for?” For starters, the more vSlice tokens an individual holds, the larger portion of vDice that person has in their possession. In other words, as vDice profits, so do the vSlice token-holders. Also, the larger the profits, the larger the worth of one vSlice token.
What’s in it for You?
Even though more than half a year has passed since the Crowdsale, there’s still no telling how will vSlice do on the virtual market. Currently, a single vSlice token is worth around 0.003 Ethereum or 0.0003 Bitcoins.
Still, it’s a pretty attractive opportunity for those who can get their hands on vSlice. The Smart Contract system tied to the vSlice token ensures that all token-holders receive 50^ of all house wins on vDice. It’s also worth noting that vSlice is implemented as three interlocking but completely separate Smart Contracts on Ethereum.
The first Smart Contract is a wallet used by contributors in the goal of depositing funds, while the second one hosts exchangeable tokens used to earn from the abovementioned vDice profits. Finally, the third Contract functions as a connection between the second one and the vDice platform.
And finally, let’s not forget to quickly mention how you can exchange the popular vSlice. As soon as the Crowdsale ended in December 2016, vDice announced that they will make vSlice available for exachnge on many crypto-exchanges.
Their representatives disclosed: “You will trade vSlice on all the best exchanges. Trading for vSlice will start when the ICO is over.” This came along with the confirmation of vSlice being added to ICE3X, Livecoin, ShapeShift, Yobit, and Changebelly, among others.
One of the safest options would be to exchange any vSlice tokens you might have for Ethereum, since the latter is more stable and you already have an Ethereum wallet. However, you can also try your luck and buy some tokens by paying with Bitcoin or Ethereum.
There are two possible steps to take after that: either hold the tokens and see where their prices goes in the future, or use them directly at vDice in order to increase your profits even further. Nobody can really tell what will happen with any cryptocurrency, let alone one that has been around for less than a year.
All-in-all, vSlice is quite an interesting and unique altcoin virtual currency. It takes a bit of knowhow if you want to understand exactly how it works, but once you get a hang of it, you’ll quickly realize what’s the best course of action in case you get your hands on some vSlice tokens.
[currencyprice currency1=”vsl” currency2=”usd,eur,btc” feature=”all”]
[currencygraph currency1=”vsl” currency2=”usd”]