In a surprising turn of events, CasinoCoin is migrating to the XRP Ledger. This is part of the project’s broader branding effort. Previous issues plaguing the project are being added to bring CasinoCoin into the mainstream.
CasinoCoin is Under New Management
Although not everyone may have gotten the message, the CasinoCoin project is under new management. After being taken over by the Knox Group of Companies, this project’s future looks a bit brighter. A chance in management was warranted, as the project was facing a few issues preventing it from reaching the next stage of development and adoption.
Behind the scenes, the CasinoCoin project will be incorporated as Eminence Ltd on the Isle of Man. This change will not make much difference for the users and supporters of this project right away. However, some technical changes may prove rather interesting for the project as a whole.
The first order of business is changing from the CasinoCoin ledger to the XRP Ledger. Most people may know this network as the infrastructure powering Ripple’s XRP, but it can accommodate other projects’ needs. Following this migration, a token swap will need to occur without involving exchanges, trading platforms, and wallets.
It is expected the XUMM wallet will allow for direct migration of CSCL tokens to XRPL tokens. Making this process as straightforward and accessible as possible is crucial when changes like these occur. There will be a mandatory KYC procedure to complete the swap, however.
Unlocking New Potential
Following the migration to XRPL, CasinoCoin will focus on faster and cheaper payments for regulated industries. As a project that aims to modernize the gambling industry, speed, efficiency, and low costs are of the utmost importance. Additionally, there will be future developments and features being introduced over time. The team will provide more details on those changes accordingly.
It is worth mentioning that Eminence Ltd will run an XRPL validator to support the network. Doing so is part of the new investment that will take CasinoCoin forward in the years to come. Pushing for new exchange listings and strengthening the CasinoCoin brand will take center stage in the months to come.
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