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Gaming 3.0 – The blockchain and the future of the gaming industry

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The dynamic game industry market is changing rapidly as technology continues to advance. The influence of the blockchain and cryptocurrency is increasing. Now these two worlds are starting to merge. Gamers around the world have recognized the convenience of cryptocurrency, which makes the gaming experience even better. The world of the gambling industry sets the tone, a suitable example is the Boa Boa Casino, which can be found here – https://boaboa.com/de/. Casino providers have been relying on cryptocurrencies for a long time. It is only a matter of time before the classic games industry will also take advantage of the convenience of Bitcoin, Ethereum, Litecoin and Co.
The Blockchain ist auf dem Weg, bedeutenden Einfluss auf in Zukunft erscheinende Spiele zu nehmen und wird nachhaltig Spuren hinterlassen. Wir erklären hier die Zusammenhänge von Grund auf und erklären, was die kommende Revolution mit sich bringen wird.

Basics: Was ist Blockchain und wie funktionieren Bitcoins?

The blockchain can seem complicated, but it’s actually pretty simple. It is a database that stores a collection of data or information in a data structure. That makes it easier to filter and search the information. It is a gigantic amount of information that can be influenced quickly and by multiple users. This data is stored on servers that are equipped with hundreds or thousands of powerful computers.
The digital currency Bitcoin is software with its own processes and protocols. This decentralized currency is something that users can exchange, buy, and sell directly without the involvement of the banks. Bitcoin is currently the most successful cryptocurrency on the market.
Every transaction for Bitcoin is stored in a public public key, which every user can indirectly access. This not only provides transparency, but also makes it difficult to either cancel or falsify transactions. Bitcoin is not endorsed by any issuing agency or government. It also means that there is no institution that guarantees the value of the coin. There is only one value that matters, it is based on the trust of the user and the gigantic demand.

How is Bitcoin’s influence on gaming and the gaming industry?

Bitcoin and the blockchain have the potential to expand the world of games by numerous dimensions and to ensure new and, above all, secure functions. Furthermore, new and above all higher standards with regard to security and anonymity can be implemented.

Instant transactions

Cryptocurrencies are cheaper and more efficient than today’s inflexible banking systems and various other payment providers. This also makes it easier to sell games or additional services, as Bitcoin and other cryptocurrencies are exchanged efficiently and in real time.

Safe and secure

The properties of the blockchain prevent any illegal trade, which also means that theft or hacking with crypto currencies can be ruled out.

privacy

Gamers often want to make sure that their personal information isn’t leaked or sold to third parties. Bitcoin as a means of payment for games or in-game transactions guarantees anonymity.

The future impact of Bitcoin and Blockchain on the Games industry can already be seen quite clearly today. It is estimated that the global market for computer games will grow to over 170 billion euros by 2023. It is foreseeable that Bitcoin and Ethereum will have a significant impact on the gaming experience and the philosophy of the game industry and that we will move into a new gaming age as a result.

Awais Dar

LinkedIn

Founder of https://www.ebzpro.com/ & https://www.rankertimes.com/

Awais is passionate about writing about health, technology, education, finance, as well as business fundamentals and a little bit about the Igaming industry. He has 10 years of experience creating great and useful content to convey ideas / knowledge to people.

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