CasinoCoin (CSC) is to shift onto a new blockchain in a move designed to “better position” it as the cryptocurrency of choice for users and operators.

Operating as the open source, peer-to-peer cryptocurrency designed specifically for the regulated online gaming industry, CSC said the move will see the liquidity of the coin increased from 40 million to 40 billion, which it said will allow for greater scaling “without the need to fractionalise the coin”.

The new blockchain is based on the Ripple technology infrastructure, which has received backing from a number of leading banking companies, and is capable of processing up to 1,000 transactions per second.

CSC relaunched in September under the management of the newly established Double C Foundation, with plans to promote adoption and best-use practices of CasinoCoin in regulated gambling markets, as well as continue to drive optimal technological performance of the coin and its underlying blockchain.

John Caldwell, former marketing executive at PokerStars, and Duncan Cameron, who spent time as senior project manager of research and development at the Rational Group, form part of the Foundation team.

Speaking about the blockchain move, Caldwell said: “The move to a new CasinoCoin blockchain will better position us to push forward with our goal of becoming the cryptocurrency of choice for the regulated gambling industry, and places us in line with current technology.

“The past few months have been spent putting a new team in place, raising awareness in the gambling industry and now transferring CasinoCoin to a new, more robust blockchain.

“We are confident that CasinoCoin has the team and technology in place to have a truly transformative impact on the regulated online gambling industry.”

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