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How Blockchain Technology has Revolutionized the Gaming Industry

Those of you out there who remember playing Super Mario on their handheld gaming consoles know how the gaming industry has evolved throughout the years. Today, characters cannot die like Mario, they do not save some damsel in distress up in a castle. In fact, the gaming world has now become high stakes with real-life dynamics.

Hosted on centralized servers, transactions on gaming platforms are often made on mobile phones or desktops without adequate security measures. Blockchain ensures that assets can’t be rigged by the developer. 

The core of blockchain technology is the transparency it provides its users. It enables gamers to play, discover, compete, and socialize with no hindrances. With no single entity controlling the network, no single database can be attacked or hacked. 

Since the blockchain ledger is open for gamers and developers to check and verify, this increases the trust factor. For example, the shuffle and deals on a cryptocurrency poker site are recorded on the blockchain for full validation of the randomness. 

Since most gamers are already accustomed to tokenization, players can trade items with each other over the blockchain and record the transactions. The low cost of transactions make it easier to transfer money or any other tokenized asset across the world.

Meanwhile, these assets can also be made into Ethereum-based tokens, which can be traded or sold. In this case, players’ assets are turned into a specific crypto token and stored onto a digital wallet for trading. 

There is no doubt that gaming is a global world. People from all over the world fanatically play games like Dota and Counter-Strike. Blockchain technology allows anyone to transfer assets anywhere around the world, without the hassle of waiting.

We are witnessing a revolution in gaming and blockchain. Combined, they have created an ecosystem that works seamlessly, making blockchain technology the lone ranger in the background. 

Blockchain technology has proven once again that it can be implemented into a number of other major platforms.

Read more: How Blockchain Technology Can Assist the Education System in 2021

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© Copyright of Novum Global Consultancy Pte Ltd {2020, 2021}. All rights reserved.

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