Online platforms are always trying to advance in different ways, but the cryptocurrency-based poker room known as CoinPoker would like to do so in a big way. How, you might ask? Well, it intends to launch the first ever Crypto Series of Poker (CSOP). The tournaments, which will take place on a daily basis from May 27 to June 3, will provide players with a large prize pool containing a total of 10 million CHP – which is the site’s own official cryptocurrency.
This cryptocurrency-based online poker platform spoke of being delighted to announce the event, especially considering it’s the first of its kind. The CSOP has been created in order to give something back to the players who supported the CoinPoker site since it began operating.
A senior spokesperson for the CoinPoker platform said that the series will kick off with tournaments for a quarter of a million and half a million CHP prize pools. It will be brought to an end with a huge tournament which will feature a total reward pool of 2.5 million CHP.
Why Could It Be Better to Play a Cryptocurrency Tournament?
While it’s true to say that online poker’s popularity has quite nicely surged over the past few years, players do still come up against several problems. For example, lack of control over their own funds has been an issue for some gamers, as has the lack of clarity on technology and various problems with making withdrawals.
However, because the CoinPoker site makes use of a completely decentralised group of contracts, many of these issues are either completely eliminated or very much minimised. It was only recently that the poker room introduced its own cryptocurrency, the CHP, which works on Ethereum-smart contract-based cryptocurrency protocols. This comes with its own advantages, including the fact that it can be bought from anywhere in the world and provides a high-speed processing perk. Naturally, it can be utilised in order to play the poker games on offer at CoinPoker. Anyone who was around for the launch of the cryptocurrency will have seen how the CHP has steadily increased in value too, bringing even more benefits with it.
Before the launch of the CSOP event, CoinPoker was able to bring players in from around the world by uniting with some of Asia’s largest poker events and tournaments. The Japanese Poker Association (JPA) was one of these, which began its Japan Poker Cup in April and that is set to continue on through August. Around 9,000 avid players from Japan’s poker venues are expected to be in line to compete for the final cup as well as a potential seat at the next WSOP event. With CoinPoker working as a sponsor for the event, the cryptocurrency platform has made its own significant move towards helping the JPA provide its poker services to all citizens of Japan.
Furthermore, CoinPoker has found itself collaborating with the Asian Poker Tour, which has been labelled as one of the continent’s best and most-exciting poker events. This has its own track record of hosting over 80 huge events as well as various small tournaments in the Asia-Pacific area.