There is a solid argument to be made regarding the future of blockchain technology, with the impact already quite clear to see when it comes to cryptocurrency in general. Of course, one of the biggest selling points for many when it comes to virtual currency is because of the various benefits that blockchain technology offers, but it looks like it could play an important role in a number of ways. other industries.
The iGaming industry is one example where technology has had a significant impact, with a clear impact on mobile gaming and the creation of developer-created apps.
Operators working in these particular markets are using blockchain technology to their advantage and that of their customers, as they now offer members the opportunity to play. crypto casino games through the use of digital assets as they continue to introduce payment services that can make transactions successful and easy.
Indeed, among the benefits obtained are faster transactions which can also translate into cost savings, while enhancing their validity through the use of the transparent and decentralized nature used, while providing a degree of anonymity to each transaction that is fabricated.
With all of this in mind, what is blockchain technology and how has it impacted the games that are currently being developed to be easily played by gamers around the world?
Defining blockchain technology
One of the issues that some may have found when taking a closer look at cryptocurrency and all the technology involved is that the language can sometimes be rather technical and jargon-based. Consequently, many are looking to find ways to make them easier to understand and assimilate.
Fortunately, blockchain technology can be deciphered in a simpler way as it can be described as being a digital record sheet which shows every transaction made through the use of virtual currency. The technology is incorruptible and stores encrypted blocks of data that are linked together and can then create a single chronological ledger. Plus, it provides an element of trust, as each transaction is transparent and clearly shows each step.
That doesn’t mean people can’t be anonymous though, because the blockchain protects the identity of those who wish to remain unknown. It can be revealed if both parties involved agree to be discovered.
Blockchain-based games are on the rise
Blockchain-based gaming is a new innovation that has certainly started to have a huge impact, with the iGaming industry seeing an increase in the number of titles produced in recent years.
Developers are no longer able to enjoy centralized control as game assets are stored across multiple servers in a decentralized manner, which also allows the use of non-fungible tokens (NFTs) and cryptocurrency as modes of payment. payment.
There are a number of significant positives that can be appreciated, including:
- Players now have more control over the experiences they receive when playing their favorite titles.
- A new way to play through the use of “play-to-earn” titles is now available.
- Virtual game resources such as themes, currencies and coins are available through NFT technology.
- An increase in security is appreciated by developers.
- A new game ecosystem has been created, based on a win-win process.
Three important development trends should be experienced
There are three major blockchain-based gaming trends that should be experimented with as the technology continues to develop:
A greater sociable gaming experience should be able to be provided where players can collaborate in real time, as they can use blockchain technology to manage, store and access game characters and virtual assets.
Open web games
The metaverse has been a big deal in recent years, and the rise of blockchain-based games will have a positive impact on Open Web Games.
These games will allow players to access games through a range of different sources which will enhance gaming experiences through the open and decentralized ecosystem that has been created which provides a variety of game assets and resources that can be purchased by players through the use of NFTs and cryptocurrency.
Virtual game transactions
Virtual game transactions have grown at a pretty solid pace in recent years, with NFT transactions accounting for a large portion of them.
These deals, which have already proven to be quite popular with gamers so far, will provide developers with the ability to target new audiences that may have been unreachable at some point before.
It’s clear that blockchain-based games have already had a positive impact on the industry, but it’s also pretty easy to see that they will continue to do so for the very near future as blockchain technology continues. to evolve and be adopted by new industries. .