Blockchain has long past cryptocurrency and has now become a separate entity. It is a technology which is much more than a mere tool for crypto transactions. The way it is forwarding towards other domains clearly shows it adaptability and potential to streamline the functionality of any given operation.
With these advances, it is impossible for any industry to be left untouched by this technology. Gaming industry is no different which gets uber security, protection of data and digital assets through this technology. Gamers often get victimized of the online thefts and they need to spend much more to collect the virtual assets.
The existing security mechanisms used by gaming platform are not robust enough to protect the assets of the gamers. As a result of which, they get into the cycle of loosing and buying assets again & again. Even if they switch the platform, it is not a great help as most of the platform today are running on centralized servers.
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How can blockchain revolutionize the online gaming industry?
Blockchain can change this and has even got a go-ahead through various projects that have been introduced into this sphere. This technology makes gaming extremely safer and cost-effective which has spurred blockchain game development across the globe. There are multiple attributes that blockchain adds to gaming:-
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Cost-effective payment processing
Online gaming is widely accessible across the globe over the internet and it is quite easy to pay for the game using fiat. However, gamers always end up paying more with fiat currency. Blockchain changes that once and for all through cryptocurrency payments which are not only safer, but also much cheaper than fiat payments.
You also don’t need to provide any personal information such as card details which is required for fiat transactions. This makes blockchain vital for gamers across the globe.
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Reducing fraud
Gaming platforms are considerably the most fecund place for hackers. There have been persistent efforts made by gaming platform to keep them away, but nothing works as efficiently as blockchain.
Having realized the potency of blockchain, gaming companies have started introducing it into their platform. B2Expand has started using cryptocurrency for payments on its platform.
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Storage and security
As stated earlier, virtual assets of gamers such as rewards, bonuses or paid coins often become vulnerable to online theft. Their storage can be done in the safest manner using blockchain technology.
Information that is stored is blockchain is always encrypted and unlike the centralized servers they are spread across network interlinked with subsequent pieces of data which makes it unbreachable for any hacker.
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Conducive to gaming economy
Induction of blockchain can reap great benefits to the gaming economy. As it saves precious assets from getting stolen, it greatly helps in channelizing resources in the right place. Gamers and game developers have both suffered a lot due to scantily supplemented security systems.
With blockchain, you don’t need any regulation, the whole system gets straighten out with the usage of cryptos and smart contracts. It gives a platform which allows game developers and gamers to indulge into buying and selling assets without any ulterior security threat.
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Reduced price of games
As blockchain constitutes an eco-system for online gaming, prices of games will also come down. Blockchain also makes the transactions for gaming items cheaper which ultimately renders the face value of games lower. It also allows developer to control their expenditure by letting sell their power-ups at cheaper prices.
Technoloader is a Blockchain Development Company which creates games on blockchain. Hire a blockchain game developer from us, get a decentralized and profitable game.
