Do you know how everyone is saying that when it comes to blockchain, you should DYOR before making any financial decision? Well, DYOR stands for "Do Your Own Research." But, since there are so many projects out there trying to promote themselves, what materials or sources can you use to research anything about this technology at all?
Consider this article to be one of those materials you can use to research what blockchain gaming is. It has been a while since Axie Infinity dropped, and today we want to take a peak and see how this technology evolved in the last two to four years. We may also have insights on how the blockchain technology makes the casino environment way safer, so tune in!
Popular Blockchain-Powered Games
It started like a gaming trend, but some of the most popular blockchain-based games from four years ago are still thriving, Axie Infinity being the most successful of them all. If you look at their website, you'll notice that the whole concept of the game relies on the classic combat-style game where you have to build a team of characters and compete against other players.
To be able to fight and play the game, you need a team of Axies, which you can only acquire by acquiring them using crypto (money). The game evolved a lot in the last couple of years, and your Axies can now farm coins, generate income, and help you earn cash through battles. Also, you can sell items and axes on the market, which is something certain players still do today.
Here are three other examples of blockchain-based games you may try:
● CryptoKitties: If you like blockchain and cute kittens, this might be a perfect fit. What you can do in this game is breed kitties, collect them, and own digital assets. Basically, it is a collecting game where you can showcase your collection, sell digital kitties, and have fun.
● The Sandbox: The Sandbox is one of the first blockchain experiences that completely changed the way people can interact with games and digital currencies. In this game, anyone can build, own, or monetize their own gaming experiences. It runs on the Ethereum blockchain, and you can receive all kinds of rewards for completing tasks or just by simply being an active player.
● Decentraland: To go even further, Decentraland would let you build your own digital business where people could only interact using cryptocurrencies. For instance, if you own a digital plot in Decentraland, you can build a digital casino on it and invite people to come and place bets inside. Everything works on the Ethereum blockchain, and a lot of people got rich just by creating their own digital business environment. On their market, the prices for plots start from 2000 Ethereum, or up to $5 million.
How Does Blockchain Impact Casino Transactions?
One thing we love about casinos is their dedication and how fast this type of business is when it comes to technology adoption. Most gambling service providers are looking forward to improving their platforms with every chance they get, and blockchain is one of the biggest innovations in recent years.
Crypto casinos are already a thing, and if you have never tried one, these are some of the benefits you will experience when betting at one.
Fairness
The best thing about blockchain technology is transparency. Every single transaction is recorded on a public ledger, and everyone can see all the details about it. How will this affect casino services? Well, think about a free spins on card registration no deposit bonus that will be issued fairly and as promised. You will be able to verify the transaction and the terms, and you have the guarantee that your perks cannot be revoked or manipulated by the operator, at least not abusively.
Faster Transactions
Blockchain has a decentralized infrastructure that enables a real-time processing of financial transactions mainly. This is possible thanks to all the active members in the network. This translates to a much faster processing time for any type of financial transaction a player can do. So, instead of waiting from 2 to 5 business days for your money to arrive after a withdrawal, blockchain only takes up to an hour.
Enhanced Security
As public as it can get, the blockchain system is yet an impenetrable cryptographic system. Every transaction made within a blockchain-based game is encrypted, making the financial environment of an online casino secure against fraud, theft attempts, or unauthorized access. Moreover, all of your information benefits from the same treatment.
Blockchain Helps Casinos Build Trust
As we can see, blockchain provides secure channels, encrypted data and way faster processing times. All these provide players with enhanced transparency and assurance, and casinos are not the only businesses that can take advantage of that. Any gaming platforms or gamification platforms can offer the same advantages and build a highly-trusted brand in any competitive market.
In present times, all we care about is privacy and fairness, and blockchain has the power to satisfy our demand for digital safety and financial privacy. Read the official IBM guide to blockchain for gaming and learn more about how your gaming experience can be improved.
What Will You Play Next?
After learning so much about blockchain, will one of the crypto games be your next choice, or would you prefer to stick with the classic gambling platforms but enhance them with this technology?
