Online Video Games are taking the Blockchain Route to Decentralization
If there is one thing the hundred billion dollar video games industry cannot afford to do is put a limit on the technological innovation it inculcates in its arsenal. With the likes of virtual reality and augmented reality having been explored and a plethora of cutting edge gadgets on the shelves of every store, the next obvious stop for game developers to pique the interest of their customer base is blockchain technology. California-based blockchain solution provider HashCash Consultants is one of the software development companies that has taken the initiative to explore the potential of blockchain in the online games industry. It has recently launched a meticulously designed blockchain platform for online gaming wherein gamers and developers can delve into exciting new territories in the video games landscape.
Features of the blockchain gaming platform by HashCash Consultants:
The team of experts at HashCash Consultants manages and executes the setting up of a decentralized gaming ecosystem for their clients. This includes creating a blockchain network in line with HC NET and assisting in setting up blockchain network nodes. Of the other related services, the most significant ones are the setting up of a blockchain wallet, a compliance server for managing KYC details, and an API layer for blockchain network to integrate with the gaming platform.
The blockchain core created would be compatible with other leading blockchain networks, thus supporting other coins and ERC tokens to be easily integrated with the network. The implications of this immense, with one possibility being the development of a multiverse gaming world.
The role of digital money is expanded when the native token created by the blockchain company launches an ICO for their client company. This entails integrating the web-wallet with the blockchain wallet for coin distribution, creating referrals and promotional programs for ICO distribution, and assisting in the dissemination of coins/tokens to ICO participants.
The tokens are subsequently listed in affiliate exchanges and on the white label exchange set up by HashCash for the games company. The exchange is paired with base currency like fiat (USD) or crypto (BTC/ETH/Crypto of choice) for coin/token to trade. This exchange will have features such as market, limit, stop orders, margin for placing orders and increasing the volume of trade.
Need for decentralization of online gaming platforms:
Why would it be the biggest thing in gaming since the invention of the internet? This is because there is a lot of itemization within gaming. This is most evident in any large scale RPG – you have weapons, skins, mounts, and other collectibles which can be itemized. The reason why these have become integral to gaming is that apart from one’s propensity to collect things, it enhances a gamer’s powers and abilities in the game, and even intensifies player immersion.
With itemization of virtual assets comes the opportunity to trade these items across multiple games and in dedicated cryptocurrency exchange platform, and putting these itemized virtual assets on the blockchain renders them traceable. Speaking about this shift in the use of digital assets in games, Raj Chowdhury, MD of HashCash Consultants, said, “Now this concept of inter-game trading is something that has gotten the global gaming community extremely excited as it would allow a user to collect the spoils of their feat in one game and transport it to another.” Since this transfer of assets will take place on a blockchain which is known to be extremely secure, it does away with the possibility of these items (often worth a fortune) being siphoned into the black market. The reverse – inflow of duplicated virtual assets from the black market – is something one does not have to worry about.
The oversaturated market for gamers, developers, and content providers has hampered the functional, economic and social value of the gaming industry. Add to that the shrinking engagement of gamers because of a dearth of incentives and a disproportionate rewarding mechanism has made the need for an upgrade in how video games are experienced. The call for decentralization and its consequent infrastructural overhaul was long due, and can now be said to have arrived in the form of blockchain.
About HashCash Consultants
HashCash Consultants started as a Blockchain Consulting Company in California. Today, HashCash products enable enterprises to move assets and settle payments across borders in real-time using HashCash Blockchain network, HC NET. Financial Institutions use HC NETfor Retail Remittances, Corporate Payments, Trade Finance, and Payment Processing. HashCash also runs the US-based cryptocurrency exchange, PayBito and the leading Cryptocurrency payment processor, BillBitcoins. HashCash offers cryptocurrency exchange and payment processor white label solutions, comprehensive ICO services and customized use case design and development. HashCash propels advancement in the field of blockchain through the Blockchain1o1 program and its investment arm Satoshi Angels.