Blockchain in Gaming Industry

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Blockchain in Gaming Industry
blockchainexpert.uk
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• INTRODUCTION

Blockchain for gaming stills remains anonymous as
we havent been discussing the topic so widely.
Till date, the studies and research conducted in
blockchain mainly focused on how it underpins
cryptocurrencies and how its deployment
transform various industries including public and
private sector. Blockchain in gaming has never
been put in the first place nor widely discussed
by the tech giants. However, they are arguably a
state of the field to keenly look into, as
blockchain promises with a massive scale database
with immense potential.
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• So how it works in the gaming sector?
• According to the enthusiasts who already dug this
  part, they proclaim a variety of blockchain
  application models in video gaming. They say
  Bitcoin technology could be implemented in place
  to manage in-game currency accounts. In case, if
  a player wins certain rounds of the game or
  successfully progress the levels in the game, the
  accolades can be in the form of cryptocurrencies.
  They can be rewarded with bitcoins or other
  crypto coins replacing the heritage coins, gems
  or other glossy collectibles. Blockchain
  technology could be effectively used as the
  backbone of the in-game account function.
• One of the apparent benefits of enforcing crypto
  coins in place of traditional rewards is that
  cryptocurrencies ensure with a fast and secure
  payment network. This can be thus effectively
  utilized for generating native in-game tokens
  assuring seamless mode of the transaction on
  decentralized exchanges. Platforms like OpenSea
  enables users to pay for virtual collectibles
  utilizing Ether, while other decentralized
  trades, for example, Wax empowers users to pay in
  the local WAX token. The enjin platform further
  enables tech experts to manufacture fungible
  in-game digital monetary forms and resources as a
  part of the ecosystem.

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Isnt it that thoughtful? This can be a gimmick
and can lure many into play. However, dont
think this is the end of blockchain application
in gaming industry. To many, there exists a
notion that if you strip off the cryptocurrency
element in gaming, there is nothing left to
offer. However, this is not true. We know that
craziness spreads like a wildfire. If a game gets
hit, soon the demand for its attributes like
weapons, characters upsurge in the market. The
customer orders get piled up in minutes. Here
comes the secondary and most exciting application
of blockchain technology in gaming. Blockchain
could be utilized to conduct the trading and
usage of in-game resources and characters.
Enforcing blockchain technology to the trading of
characters and other augmentations can truly
enhance the level of transparency, authenticity,
and reliability of the transactions. Blockchain
can curb the data tampering of current and past
transactions, closing all doors of cheating
within trading and transfers.
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Right from monetizing the in-game resources and
characters, to the offering of decentralized
asset exchange, further settling fast and secure
transaction networks, the blockchain can truly
transform and rule the gaming sector via its
valuable contributes. It can perform the role of
a potentially valuable tool eradicating all
traditional hurdles. The early footprints of
blockchain gaming were in breeding digital cats
(crypto kitties) and digital casinos. However
now, the game producers are expanding their
visionary keep in the note of the benefit from
decentralization or lack of centralized control
in gaming. As games have turned out to be more
multiplayer and co-employable, there has been in
significant focus on the elements such as
fairness and trust in the play. It is quite
natural to occur the issues of fairness and trust
where there is an interplay of a huge number of
individuals (players) from a wide range of
worldwide society. The centralized control can
often end up oppressive and discriminatory.
Particularly those that go into the class of MMO
(massively multiplayer online game) where
character's symbols become augmentations of
themselves, here the factors such as fairness and
trust matters a lot. However, the
decentralization property of blockchain can wind
up all these distress, staging clarity
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Utilizing blockchain technology, the game
producers can offer players a world with no
cosmetics of centralized controlling. A space
with no central servers or central authority.
Blockchain can provide a world of fairness making
players in charge of everything, no more being
tied with any rules. This advanced level of
gaming experience, with a blockchain spine, will
begin to push the limits of gaming much further
as the decentralized aspect will give players,
the dimension of fairness and inclusivity they
pine for. The additional incentives like mining
and digital currency are like icing on the
cake. Gimmick or necessary step? Whenever
blockchain innovation is connected to an industry
sector, there arises a contradiction over
gimmicky utilization of the technology vs its
essential positive development. Prevalently, in
the gaming space, it is the decentralization and
crypto incentives that are questioned about. One
could then contend that it is after all only a
game, and the requirement for decentralization
makes it simpler to run and control a game. This
game utilizing the blockchain technology can
offer its players a world with no central servers
and no central authority. As said forth, players
are responsible for everything, and the open
source blockchain framework gives a reasonable
situation which averts any tricking.
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in Gaming Industry
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