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Looking at the current trends in the gaming industry, we can expect to see more games using this innovative technology. Here is how blockchain could redefine the gaming industry in 2020 and beyond.
Safe and secure environment for developers
The blockchain platform uses powerful encryption technologies to secure crypto token transactions. With the computing power that the world has today, it’s impossible to hack these data encryption techniques.
Hackers won’t be able to manipulate a decentralized blockchain network as there is no one server to destroy. Nodes distribute the databases among a network of computers across the globe and each node has complete information of the database. So, no one can delete or modify existing transactions and it’s impossible to launch a ‘Distributed Denial of Service’ (DDoS) attack against the blockchain network.
That being said, developers and entrepreneurs will have a secure environment when they develop games on the blockchain.
Provably fair games
An online game that allows players to confirm the fairness of the game process is considered as provably fair. The appearance of the ‘provably fair’ concept is closely related to the rise of cryptocurrency gambling – casinos and other online games that allow placing bets and receiving rewards in Bitcoin or other cryptocurrencies.
When playing online casino games, the odds are stacked against the players and the thrill of beating the house is what drives people to these games. However, this process can be further complicated by having intransparent games and unclear practices.
Let’s say, you got a no deposit bonus and manage to win the game, but never receive the prize and can’t prove the fraud to anyone. This is not a pleasant scenario for users. And the only way to prevent this is by employing the provably fair algorithms that use the blockchain network to record all the transactions on a public ledger.
Thus, we can expect to see more provably fair games in the near future.
Enable players to own their in-game assets
Unlike the current scenario where players can’t own their in-game assets, a benefit of blockchain-based gaming is that players can own their in-game purchases. These games use smart contracts to govern the in-game assets and that’s what makes the difference.
Smart contracts are executed automatically when the conditions coded in them are fulfilled, and the process is irreversible. When developers launch a blockchain-powered game, all in-game assets that the players brought are transferred to their public addresses. No centralized agents can change the public address where the assets are stored, hence, no one can change the ownership of the in-game assets. Also, these contracts allow for full transparency and every player has access to the rules.
