Blockchain technology has potential applications in the gaming industry that could transform how games are played and transactions are conducted. It could be used to manage in-game currencies so that players are rewarded with cryptocurrencies for accomplishments. Blockchain could also be used to facilitate the trading of in-game items and characters in a transparent, authentic and reliable way on decentralized exchanges. This could solve issues with cheating and data tampering in transactions. Overall, blockchain offers benefits like decentralization, fairness, and transparency that could improve the gaming experience for players. However, some argue these uses may just be gimmicks rather than necessary steps, while others believe blockchain truly enables new gaming models.
2. INTRODUCTION
Blockchain for gaming stills remains anonymous as we haven’t been discussing the topic so widely. Till
date, the studies and research conducted in blockchain mainly focused on how it underpins
cryptocurrencies and how it’s 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.
3. 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.
4. Isn’t it that thoughtful? This can be a gimmick and can lure many into play.
However, don’t 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.
5. 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
6. 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.
7. Click here to read more about : Blockchain in Gaming Industry
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