Blockchain in Gaming Industry Will Lead to Mass Adoption: Here’s Why
The gaming industry has been at the forefront of innovations and blockchain couldn’t be less. So it’s no wonder that they’ve also been eager to adopt the novel blockchain technologies. And its uses are not limited to online websites with games like Bushido Code accepting Bitcoin as a deposit. Thanks to blockchain, we can now take various in-game transactions on a secure crypto platform to avoid speculation and scams. Plus, the games have become more immersive, and many experts believe that the biggest changes are yet to come. But blockchain platforms can bring extra value and foster growth also in other sectors of the economy. The application of blockchain platforms in the gaming industry provides us with a case study to adopt blockchain technology to various other industries.
Blockchain Technology in Gaming
The primary use of blockchain in gaming right now is in collectible platforms. Blockchain offers a secure way to verify payments for various valuable gems and assets in a game. A player who has won certain assets can sell them for real money to others.
There have also been several successful blockchain gaming apps. For example, Cryptokitties. It’s the first blockchain-based mobile game where most of the transactions go through the Ethereum platform. After the success of Cryptokitties, we’ve seen an explosion of gaming apps, from simple card games to more complex role-play apps. If that trend continues, we could see a disruption in the gaming industry soon as blockchain-based solutions could become more popular than consoles.
Risks With Ethereum
The main downside of Ethereum-based games is that they risk increasing the gas fees with their numerous transactions flooding the network. But that hasn’t stopped new games from being developed. These run mostly on public blockchains, which means that the transaction speeds will get increasingly limited. A possible solution to the problem would be an increased effort to develop state channels and sidechains.
Popular Games for Bitcoin Websites
Thanks to the success of gaming apps, studios have also started to consider bigger blockchain-based items. And some of the first companies who have taken advantage of the new possibilities are online casinos. These blockchain-based gaming sites are very secure and of good quality, thanks to the ledger that records every transaction. So we can expect them to offer even more competition to traditional betting sites in the future.
New gambling games where players can participate using bitcoin pop up every day. Part of their popularity comes from being a more entertaining way to attain bitcoins than trading activities. Here are some of the most popular games where you can play with Bitcoin:
It is a fun game where you go against a digital gorilla in search of various fruits. You can complete every gaming transaction with bitcoins.
It is a standard casino blackjack game for all those who are after the classical casino experience. It’s thrilling for any bitcoin enthusiast to play against the virtual dealer with bitcoins at stake.
It is a super popular quick dice game. This game comes with a mere 1% house edge. Plus, most sites offer a handsome welcoming bonus for digital dice games. And if you’re lucky enough to win, you can safely deposit your bitcoins on the site’s wallet. The cool thing is that in 2021, most on-site wallets enable you to withdraw your assets instantly.
Testing Out Future Possibilities
The best genre for testing blockchain technology is a multiplayer online game. The gameplay in these games enables us to create smart contracts that dictate the rules over smaller competitions within a game. A smart contract can even set the rules for the whole game. It would be a great alternative to regular gaming because every action could later be easily verifiable, and the chances of cheating would decrease significantly. This increased security is one of the primary reasons for blockchain to get integrated into future games more often.
Blockchain technology suits gaming perfectly. It makes the in-game transactions more secure and, in some cases, even provides a robust back-end infrastructure for the games. Although the increased number of transactions can cause higher gas fees, this could be avoided by setting up additional side channels. And guess what? These lessons on applying the blockchain to games can easily transfer to almost any other industry. Will it finally lead to the mass adoption of blockchain technologies? It sure looks that way. We are ready for it. Are you?
Do you think the use of blockchain technology is the future for all industries? Let us know your opinions in the comments.
Thomas Glare (Author)
Thomas was the nerd type of boy in high school and then college. He studied Computer Science, worked as a back-end developer for five years, and now he started writing as a hobby. He is a specialist in business tools, including advice on how to open a free business checking account online with no deposit.
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