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What Can Blockchain Offer to Gaming Industry

What Can Blockchain Offer to Gaming Industry

Articles / 2019-02-07 07:38 AM

The blockchain from the very its beginning was tailored for creation and maintenance of databases with 100% protection from fakes. It means that original solutions in many directions can be developed on the basis of the blockchain. Reliability and safety increase, fraud protection, transparency of gaming processes are among them.

About 2 billion people play video games. You should understand that it makes ¼ of the world population. And blockchain can solve the problem that has been of concern of all these people. We are speaking about creating unique objects and verifying the property rights in the virtual space. It relates to different objects both inside of a game such as artifacts, characters, maps and some external things like users’ accounts and games themselves.

Monetization of Confidence is another nice thing the blockchain technology can offer. The list of advantages of the use of the blockchain technology in gaming would be incomplete without mentioning the financial side.

Gaming Token, first of all, is a common currency, used for the expression of the value of all the objects traded inside of a game that lets developers bypass a number of problems connected with the creation of systems to conduct multicurrency microtransactions. Secondly, conduction of transactions on sales of internal gaming objects in cryptocurrency is supported by smart contracts. That considerably increases reliability and confidence between the parties. Finally, settlements in cryptocurrency let strike off the commission for transactions in fiat currencies.

Current Situation

The technology brings confidence between developers and gamers to the new level: thanks to it really fair random choice will appear, gaming objects will be stored in the distributed ledger providing possession of it. Moreover, the technology gives an opportunity to make money playing games. Now there are a great number of different gaming apps. Nowadays the gaming blockchain industry just makes its first steps. Developers prepare the foundation, platforms that will let talented teams turn their ideas into reality. When it happens, a new era of transparency will begin. Developers will not possess gamers’ savings. A gamer will be able to see everything that happens in the game, as blockchain records are open to each party.

Glorious Future

If the blockchain and cryptocurrency adherers work hard to eliminate weaknesses of the technology and to develop its indisputable advantages we cannot but expect that gamers of the whole world soon will get absolutely original products and their developers will take the rightful place on a dramatically developing gaming market.

The cold technology may give rise to a warm feeling – confidence between gamers and developers. And this feeling will certainly be a win for any person considering him/herself a part of the gaming industry.