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Blockchain: Revolution of the Gaming World

  • Jan 12 2022
  • P2E Games

Cryptocurrency is stealing the limelight, millions of people are continuously investing heavily in this new niche. This is seemingly one of the main reasons why blockchain technology is catching the eye of every business sector.

The gaming industry was one of the pioneers of integrating blockchain technology into it and so far it has been very successful at that.

There is a major overlap between the blockchain and gaming communities. People that are interested in blockchain are also inclined to enjoy and participate in crypto-gaming. The gaming industry’s love of NFTs reflects this, with many rare and worthy NFTs being traded in-game.

Blockchain is an important component of future financial innovations. The concept of a ledger that can’t be corrupted is getting popular outside of bitcoin disputes as well into the gaming world.

Blockchain: Revolution of the Gaming World

Blockchain Gaming

Blockchain sequentially links together chunks of data using cryptography. Every unit of data on the blockchain is unchangeable and is one of a kind because alteration in one block will disrupt the entire chain. Blockchain games are distinguished from mainstream games by the fact that each digital asset is unique.

Blockchain gaming is the name of the industry. Play to earn is a type of crypto-gaming in which a player earns a cryptocurrency or NFTs upon completing different levels of the game successfully, these digital assets can be converted into fiat currency as well.

Blockchain technology has incorporated the idea of digital asset possession, as every NFT in the world is unique.

There is complete transparency of digital assets and their trading in the blockchain world. If a player in traditional games pays fiat currency for unlocking different avatars or assets in the game, those assets will be lost to them if the server crashes. These assets would solely belong to the developer or the publisher in the case of traditional gaming.

However, in blockchain games the players retain complete control of the digital assets, allowing free exchange or trading, selling them for real money, and potentially using them across many gaming realms.

As a result, blockchain games are produced with blockchain technology or published on the blockchain so that not only one entity owns a copy of the game, but all the computers playing it. This is done via smart contract development, it is a contract that overlooks the functionality of blockchain.

Gaming is the most profitable industry and excessively utilizes blockchain technology. The soul life of NFTs is blockchain technology. It has made trading and collection of NFTs in gaming seamless

Difference between Blockchain and Traditional gaming

Lets us look into the major differences between blockchain and traditional games

  • ● Trustworthy Data security:

Data is saved in the blocks present in the chain, in the case of blockchain gaming. Game operators are unable to alter or tamper with data present within the game. Participants are unable to cheat via plug, game data is self-explanatory and clear. Blockchain games are very fair.

  • ● Payments made right away:

Blockchain technulogy eliminates the requirement for third-party payment services. Players can buy in-game items and receive rewards rapidly by using blockchain currency.

  • ● Decentralized operation:

Using smart contract technulogy in conjunction with blockchain, different settings in the game are generated, resulting in a closed economic system that prevents huge operations from spamming such games.

  • ● Virtual asset confirmation:

The items in the game are kept in the blockchain, instead of being registered in the game operator’s database. As a result, even if the game gets shut down, the perseverance of the item is insured, and the game player’s rights are protected.

  • ● Breaking the island economy:

Tokens are utilized as a settlement technique for games that integrate blockchain, low transaction fees, and make transactions easier for players. The digital assets of players can be spread all over the world and are not confined to only games, as they can be converted to fiat currency as well.

Gaming has ultimately evolved. With the introduction of new technological trends and their combination, the future of gaming is primed to rise in value. Blockchain is used in transferring value and digital assets in games.

Blockchain games benefit from Dapp features like non-fungible tokens and transparency in trading and ownership. These games offer a solution to many of the industry’s problems, and the technology has ushered in the future of irreversible data, which may aid in the creation of game stories.

Softoxan Studios being a team of Gaming geeks knows the difference between Traditional and Blockchain games very well and masters both niches individually by providing development services of both for years. With a thorough understanding and experience in game development, we have helped clients to bring their ideas to life. From requirement gathering to deployment, we guarantee success.

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