The popularity of blockchain in gaming industry has grown over the past few years as it offers players several advantages. Play-to-earn crypto models are trending, turning the tables in favor of the gaming industry. Let’s get into the details and see how the deployment of blockchain in gaming works!
With the popularity of the blockchain ecosystem increasing rapidly, more and more businesses in different domains are experimenting with the technology and exploring ways to implement advanced solutions for the far better rewards they hold. It is not just the cryptocurrency networks where the technology holds advantages but there are several use cases of blockchains across various industries, including healthcare, supply chain, logistics, governance, and so on. There are a plethora of advantages for the implementation of blockchain in the gaming industry too.
Today’s gaming industry: problems plaguing it
Apparently, the bulk of online games stores their data on the central, specific repositories, thereby following a centralized operating model. It is in the hands of the game administrators wherein the complete authority is vested in such a centralized model.
Usually, the account information and the server history with records of all events and in-game assets as collected by the players are stored as data. Given that the game owners or administrators have the ownership of the database; players do not have any control or right to alter their accounts or items. Furthermore, there are several disadvantages of having centralized models in the gaming industry, a few of which may include the following:
- Breakdown of server for technical faults
- Intrusion of the system by cyber thieves and hackers
- Gaming sites going out of business
- Unwarranted prohibition of accounts
- Non-existence of transparency with context to the game mechanism and charges
- Influencing the game economy by developers and administrators
In short, the centralized model of gaming rests all the power in the hands of the gaming companies and game developers. However, blockchain in gaming industry holds the potential to eliminate or diminish most of these challenges.
How does Blockchain in Gaming Industry work?
Blockchain is a distributed ledger technology and it can be implemented in gaming apps to validate, authenticate and also secure all types of digital data. The in-game transactions, history, data of all the gaming assets, tokenized assets, and also digi