When we hear the word blockchain, we always think about high-end technologies like decentralized applications and cryptocurrencies. However, blockchain is not about these sophisticated applications but even about everyday things that might entertain us in a very light fashion. Outside cryptocurrencies and high-security banking and financial transactions, one of the most amazing applications of blockchain technology lie in gaming.
What is Blockchain?
Before we get into the details of what the applications of blockchain in gaming are, we need to understand what blockchain is all about. For a technology to be adopted worldwide, it needs to solve a problem or pain-point hat people are facing.
One major challenge that people faced was in arriving at a fine line of Confluence that balances transparency and security. Imagine a rare diamond being kept in fiberglass encasing that lets you see the masterpiece but not tamper with it. This is precisely what blockchain technology does but with respect to record-keeping.
Simply put, blockchain is a digital ledger that offers security by involving a cryptographic hash to connect blocks that store interdependent data. The definition might sound simple. However, the implications are nothing short of phenomenal and massive. Blockchain could go a long way in ensuring data security and utmost safety in the transaction for segments like finance and even government records. It might be hard to connect how this serious technology finds its application in something as casual as gaming.
Where Does The Connect Lie?
Often, when we think about gaming, we always think about something that is casual and more of a time pass. However, there are people who are very serious about gaming and it might not be an exaggeration to say that it is their career and the source of their bread and butter. We are not talking about people who developed or Test games. We are talking about people who actually play them and earn their livelihood out of it. For these people, earning something from these games is of paramount importance.
In an unorganised realm like online gaming, the possibilities of Identity fraud and malicious activities are quite high. It is in these areas that blockchain technology finds its relevance.
Blockchain for Encashing Rewards
It is quite natural that anything that requires talent has to be rewarded. It does not make an exception when it comes to the world of online gaming. People are bound to win huge amounts of money if they are experts in certain online games. To encash this award, they will need to prove their identity in a way that it will not be compromised in terms of security and authenticity.
It is in this particular area that blockchain find its relevance. Using this technology, both the gaming companies and the users can now establish the authenticity of the reward and the person receiving it. This comes in huge bliss especially at a time when online gaming has suffered a few dubious blows because of compromises in the identity of winners and giving companies losing out on both their money and credibility.
Blockchain for Betting
No! We are not talking about fantasy sports tournaments. Why should we even talk about fantasy sports when the very game that is being played is a fantasy in itself?! Just like how people bet on sports like soccer, baseball, Formula 1 and cricket, they also bet on online games and fantasy world games. Some betting companies are dedicated exclusively for these online games and in line with the blockchain technology, they are ready to accept betting through both fiat and cryptocurrency.
Betting has always been in the grey area when it comes to the legal aspects. This makes it all the more a gullible bait for malicious forces to attack on private data and even sensitive bits of information like payment details. Bringing in blockchain technology would ensure that the ecosystem is not susceptible to these kinds of attacks.
Blockchain for Collectibles
The world of gaming is so developed and addictive that people have formed a life of their own in the virtual world. Just like in the real world, they might need a lot of accessories and add on which day my require in the gaming world some of these might have its own utility and some of them might even get a few privileges. Considering these aspects, gamers always would like to buy collectibles like special gear, weapons accessories and a lot more.
These items entitle the possessor to have some privileges. Players can either by this item or redeem their rewards in lieu of these prizes. To ensure that the right user get the right privileges, blockchain technology is introduced. Blockchain brings a chunk of trustworthiness to the system.
Blockchain for Platforms
Today, blockchain has crept so much into the world of gaming that there are even dedicated consoles that use blockchain. Consoles not only use the technology to power the gaming ecosystem but also to manage the rewards and collectibles. The best part about these blockchain-based consoles is that they can be used to play Simple everyday games like Solitaire and Settlers of Catan.
Just like any other application, the development of these blockchain-based games and consoles has to be left to the expert blockchain app development companies. These companies not only understand the technological possibilities that are defined by the decentralized ledger system but also the aspects of gaming that make it immersive. It includes but is not limited to light coding, intuitive and fun-filled interface and above everything, the experience of the user that keeps them glued to the gaming world.
A technology can be said to have found its Nirvana when even common people have started to enjoy the manifestations of the Novelty. We have seen it happen with mobile applications and computers. Today, blockchain is at the verge of that breakthrough. It might take some time for all the people to embrace its application in fields like finance and identity management. However, with gaming, it might not be that difficult for people to enjoy the new technology and its benefits to the fullest!