“Gaming has never been so fun. With blockchain technology and NFT’s, the gaming industry is proving to top other industries with ground-breaking profits” – Hardik Joshi, Chief Operations Officer, Citrus Tech.
Blockchain or crypto games are gaining ground in the gaming industry as game developers embrace and incorporate blockchain technology into their projects. Blockchain Games is powered by blockchain, which is used to enable Ethereum, Bitcoin, and other cryptocurrencies. As a result, it improves spatial distribution; people can manage their finances, programs, and projects. Despite the popularity of the crypto kitties game, the Blockchain game is still evolving, leaving room for innovation. However, there are many benefits to gaming, some of which will be discussed below.
GAMES POWERED BY BLOCKCHAIN TECHNOLOGY:
Blockchain technology offers many different benefits than other programs that make gamers better suited to only play. First, there is an angle of reflection across. In blockchain systems, data is automatically written to a distributed ledger, which by definition provides a consistent, reliable source of information. Blockchain game data can be relied on by operators, players, and administrators. They can access the same data in real-time and make decisions (either manually or automatically) appropriately. Players and administrators no longer need to trust the flow of information from gambling operators. Instead, the information is known to be true when it is made and is set aside time to leave a complete audit trail. This helps to resolve issues of player trust and disputes that inevitably arise along the way. But it is also beneficial for operators who meet their compliance requirements. Administrators can be granted limited access to data in real-time, building trust relationships between authorities and employees that cannot exist at the same level in today’s world with data sent. Then there is the security angle, with the data held in the blockchain in the sense that it is ineffective and completely secure. The demotion of this essential information means that operators are no longer at risk of being dragged through the middle and provide fair, transparent gaming to all involved. And on top of all that, blockchain tech works very well for gamers, allowing automated betting, boarding, withdrawal, and more organized deposits and much lower blockchain payments with native tokens like Bitcoin SV (BSV). The list of blockchain benefits that gamers bring to the table is incomplete, and in fact, there are many more ways everyone benefits from blockchain. Because of this, it is not surprising that many operators are turning to blockchain technology to secure their businesses in the future.
EFFECTS OF BLOCKCHAIN REVOLUTION:
“Blockchain tech is still evolving and at a rapid rate. At the same time, it is now inevitable that games will gradually become more and more blockchain-bound in the years to come,” says Hardik Joshi when quizzes about the revolution of blockchain technology. While future evidence may at first seem costly, the cost of non-improvement is now comparable, if not worse. With industries such as Citrus already accessing blockchain-powered infrastructure, it is time for all operators to consider whether they are investing or falling behind. Like cloud services, when everything has and continues to go to the cloud, the same thing happens with blockchain. The only option is to combine now, perhaps on a cheaper basis, or to wait until later.
FUTURE OF BLOCKCHAIN GAMING:
Blockchain technology can be seen to shift power to players, but it can also give the game developers greater power. Smart contracts allow game developers to control their gaming economy by setting certain pre-defined conditions for trading control. This has the potential to control the excessive growth of the in-game market and ensure that trade is made fairly. Ultimately, the game developers can build any content they can think of and have the power to lay the foundations for an environment that players can use to build a gaming economy. Developers can use free economies to make money by charging trading fees or charging peer transactions, actually mimicking an established financial system. Blockchain tech is yet to put a big flag on the global sports market, but it has been making waves in the big blockchain industry. Developments in blockchain games are likely to first take place in a gaming space, given the size of the industry and global reach. Once established, the blockchain will become a significant gaming technology as we know it.