- April 30, 2019
- Posted by: BlockX
- Category: Blockchain
The 21st century has kicked off the era of blockchain technology. In comparison with other innovations, its development has not taken all that much time . Its implementation is skyrocketing in a variety of areas.
In the gaming industry, blockchain is quickly gaining momentum. How it can help modern gamers?
A blockchain is a constantly growing list of transactions linked together securely using cryptography. It ensures the safety of storage, access, and dispersal of information. Being inserted in an intriguing game with a happening community, this technology can unite an experience into a more satisfying connected overall whole, which can deliver money both to players and developers alike.
Why is blockchain a safe solution?
Blockchain in gaming helps in securely buying and selling in-game assets. Due to the rapid growth of cryptocurrencies, purchasing and selling crypto tokens is more widely accepted. In this way, if the game is designed on the blockchain and provides players with the opportunity to buy and sell in-game items using digital currencies, they have adequate secured means to do those transactions.
In a blockchain-based game, gamers are able to take their public profile from one game to another. And they can use their cryptocurrencies from the same public profile across different games.
Safe and secure storage
Implementation of encrypted blockchain ledgers to the gaming industry provides the player with secure storage of the game items and in-game assets.
New monetization ways
Blockchain swings open the doors for new methods of monetization with low expenses for payment processing at the same time. Digital cryptocurrencies updated by the server lead to minimal fees for microtransactions. It means developers can get more money for fewer purchases in the game.
Games launch without intermediaries
The blockchain-based platforms provide another significant advantage. Such platforms connect developers directly with end users. In this way, both sides can get in touch to carry out the creation of the game without the need for intermediaries.
Proof of asset
As blockchain is open source, the game creators are able to make rare virtual assets like swords, arms, shields, or other in-game cosmetics to make them more valuable.
As we can see, this revolutionary technology has already provided the benefits both for players and game developers. The old games move further into the background, step by step, and the new ones based on blockchain continue to expand across the modern gaming sphere.
Trust + Blockchain = Successful Games
Blockchain technology has a lot of new solutions and features that can be useful for the gaming market. Many blockchain-based projects appear, and their advantages like full transparency of in-game transactions, possibilities to earn money during the game, privacy and safety of accounts, active communication among gamers are apparent. Everything depends on whether the world adapts to cryptography issues.
How Can Blockchain Improve the Conditions for Gamers and Game Developers Alike? was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.
This content was originally published here.