How Blockchain Technology is Ruling in Gaming Industry

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Blockchain technology in gamingThe blockchain network is growing daily in this modern world. Also, this technology is growing at a very fast pace. This technology impacts more and more people every day with its benefits. Blockchain is first implemented in the development of the digital currency. So it is mostly used in the development process of cryptocurrency networks. Not only in crypto development, but the blockchain is also used in various industries to provide a high level of protection. Such as supply management, banking, real estate, finance, gaming, and more. Because this technology avoids hacking. 

Basically, it is a very complex technology, and it’s very hard for hackers to steal information and data. So most of the business class people use this technology for their business for top-notch protection. Now, this technology is also used in the gaming industry for game lovers. In this blog, let us see how blockchain rules the gaming industry.

Currently, How is the Gaming Industry?

Today, a huge number of online games are completely based on a centralized model. So all the data and information are entirely stored in a server. Which is manually controlled by a game administrator. Moreover, this data includes all the account information, server history, and player’s details. Also, it stores and records all the events and game assets collected by the players. Because it would be more helpful for most of the gamers. 

As the gaming company has the server, so the database is completely owned by them. Here players don’t have any ownership of their gaming-assets and accounts. It is a centralized server, so players may face some vulnerabilities and limitations by the company. Such as

  1. Server malfunction due to technical issues
  2. Game complete shutdown
  3. Lack of transparency in-game mechanics and ratings
  4. Undeserved ban of players accounts
  5. System infiltration by cyber attackers

However, all the power and authorization are in the hands of gaming companies. But the implementation of blockchain eliminates these kinds of limitations and vulnerabilities.

How does Blockchain Technology in Gaming Work?

A blockchain-based gaming system can be completely used for verification. Also, to protect digital data, gaming assets, and tokenized assets. The main concept behind blockchain technology is to take away the power from the gaming companies. Then giving back those powers to the players. In this way, each player can have control over their accounts and gaming assets. So they can exchange those gaming assets at any time from anywhere. 

So blockchain technology in gaming helps the players to store their assets in a secure way with to-notch security entities. So most of the gaming-based industries started to adapt this blockchain technology in gaming for the better convenience of the players. Also, it increases the trust and transparency of the gaming mechanism. Now let us see

How does Blockchain Technology Impact the Gaming World?

In this part, we can see some common ways that blockchain technology impacts the gaming industry.

  • Real Ownership

As I already mentioned in this blog, blockchain-based games allow users to have permanent real ownership. Also, they can have control over their gaming-based digital assets. Those assets include game cards, equipment, skins, and characters. Moreover, these digital gaming assets are completely represented by custom non-fungible tokens. We can also say that as ERC-21 tokens. So these assets are linked to the blockchain tokens and that is entirely maintained by a secured distributed network.

  • Decentralized Marketplace

Some of the high-rated gaming companies have the power of manipulating the economy of their games. So they can also freeze the gaming assets and make them untradable. But when the game is built using a blockchain network, it enables the access of peer to peer marketplace. It increases the trust among the users and players. So they can buy, sell, or trade their digital gaming assets in a decentralized network.

  • Streamlining Payments

Smart contracts and blockchain have the power of reducing the fees and increasing the speed of transactions. These two can also provide all kinds of payments. Not only trade between players but also they can process the trade between players and developers

  • Gaming Multi-universe

Gamers can link their gaming assets into blockchain tokens. So they can trade their assets with other games. Also, this allows the players to recycle their digital gaming assets while experimenting with various games. Since the gaming assets are represented in blockchain tokens, players can perform trading with any other gaming market. But that game should also be developed using blockchain technology.

  • Fair Playing Ground

Blockchain technology in the gaming industry enables the creation of distributed and transparent gaming servers. So here the gaming mechanism can be mostly changed by the majority of the votes. Additionally, the distributed network provides tightened security to protect from hackers and fraudulent activities. So there will be no single point of failure.

  • Unlimited of Gaming

 When a game exists on a centralized basis, then the company can drop the project or shut the game down at any time. But the implementation of the blockchain network will let you play even if the developers move away. So until the blockchain technology exists, you can play the game continuously.

Limitations of Blockchain Technology in Gaming

Even though blockchain technology is open-source for the gaming environment. It still faces some major challenges to overcome. Such as

  1. Scalability
  2. Lack of adoption
  3. Centralization
  4. Simplicity
  5. Barriers to entry 
  6. Competition
Examples of Blockchain-based Games

When compared to other games, blockchain-based games are quite new and small. But still, there are many decentralized gaming applications built using the blockchain network. Some blockchain-based games are given below.

  1. Crypto kitties
  2. Gods unchained
  3. My crypto heroes
  4. Cheeze wizards
  5. Crypto space commander
  6. Hyper snakes
  7. EOS dynasty
  8. EOS knights
  9. Crypto zombies
  10. Crypto Wars and more 

Final Thoughts

Now, it is clear that blockchain technology has a great impact on the gaming industry. It provides a greater improvement to the gamers and blockchain-based game developers. If developers try to overcome the limitation, then blockchain will definitely change the gaming industry. We can expect that many games will launch using blockchain technology in the upcoming years. If you are looking for any other blockchain development services. Then the team of experts in Zab technologies will offer you all kinds of reliable blockchain development at an affordable cost. We are here to accomplish your blockchain business goals.

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About the author

Steve

I have started my career with Search Engine Optimisation and slowly concentrated on creative part as well. Now I'm working with a leading Blockchain Development Company in India - Zab Technologies

By Steve