1 - It is an Ethereum based token
2 - In a nutshell, their solution relies on how random numbers are generated. In a computer, random numbers are not truly random, they are pseudo random. If you given a seed (an initial value that the random number generator based the computation on) it becomes deterministic. If I give a seed 1234 and based on that the random number generator gives me the number 4212 on the first call, 8429 on the second call,... if we give the seed 1234 to the generator again, then it will create the same sequence (4212, 8429). What they are doing is taking a partial seed from the player and a partial seed from the operator (casino), so no one truly has control of the seed, but instead it is created by two opposing players.
It's a very simple (conceptually), yet elegant solution.