Blockchain is the technology underpinning cryptocurrencies such as Bitcoin. It is a method of recording data in the form of a digital ledger of agreements, transactions and contracts. This ledger is stored over thousands of computers worldwide. Due to the nature of the information stored within a blockchain database it is very secure and hard to hack, as access would be required to every single source of the data at the same time.
The value that can be provided by cryptocurrency in addition to the realms of trading is becoming more and more evident, in particular in the gaming industry. The first and most obvious way blockchain is beneficial within gaming is to use blockchain enabled cryptocurrency to enable in-game purchases, reward player achievements and to buy alternative games online. Game commerce can be turned into real commerce through blockchain. Blockchain allows players to interact with other players directly within the game without having to go through the developers or software as an intermediary, and a credit card is not needed to make transactions.
It is this security and efficiency, with no need for third party intermediaries which has others in the gaming industry taking serious notice of cryptocurrencies. As a result, there is a growing number of online casino brands adding this banking option to their services. Furthermore, with more and more players preferring cryptocurrencies, there is no doubt that increasing numbers of popular casino brands like Unibet will have to adopt the method.
The use of blockchain in gaming is not just limited to in game purchases though. It can be used for other elements in the gaming world, such as providing a data structure with which to store gameplay and remember the moves made by a player within a game as well as document high scores automatically. The distributed ledger blockchain uses means that gamers can play throughout interlinked gaming environments with the same characters, using the same items they have acquired.
Those serious about gaming will probably accumulate many in-game rewards, but traditionally they will always disappear once the game is logged out of and are only useful within a single game or only help for advancement to the top of the game. Blockchain means the players can retain their rewards and use them either in the game, keep hold of them, or even possibly transform them into cryptocurrency. This is how it will continue to become possible to make a living from gaming and ultimately be a stepping stone from a hobby to a very lucrative career for many.
Blockchain isn’t only beneficial to the gamers and can be taken advantage of by the developers to help them improve the experience for players. It represents the opportunity for developers to really innovate with their game design. Developers can use the data provided by the ledgers within blockchain to discover the preferences in gameplay of their users and then use this information to provide a more tailored experience to gamers. The results of using blockchain in this way could be fantastic and character development could end up as ongoing throughout multiple games. Creating games that work in this way in a series could mean that developers connect the worlds using data stored within characters or items for example.
Developers can reward winners of gaming tournaments and competitions with cryptocurrency to send within the game or even offline. This is all possible due to the presence of blockchain within gaming.