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In Bitcoin and other cryptocurrencies, gambling websites provably fair refer to the algorithm which is used by the website to generate fair random outcome to each hand played.The provably fair algorithm can be analyzed and verified for fairness on the part of the service operator by the player for each hand played.
In a provably fair gambling system, The gambling service operator will publish a simple and exact method for verifying each hand played in the game. This is normally by using the open source algorithms for random seed generation, hashing, and for the random number generator.Once a round has been played, the player can use these algorithms to confirm fairness of outcome by only using the published algorithms, the seeds, hashes, and the events which transpired during the game.
The revolutionary advantage of the provably fair system is that third-party verification and auditing are usually unnecessary and corruption of the game is basically impossible.
Some security experts claim that the provably fair potentially exposes the operator to hacking attempts if there are undisclosed security flaws in the open source software.
Today more and more cryptocurrencies gambling sites are choosing the provably fair algorithm as a random outcome generator.