Is Blockchain making online gaming more secure?

Online gaming as a market is one to be watched. With technological advances constantly developing and changing the gaming industry, it’s no wonder that blockchain technology and everything to come with it is starting to work its way into gaming as a whole. From MMORPG’s to online casinos, blockchain and cryptocurrencies are becoming more and more common in everyday use, and it isn’t hard to see why. This innovative technology is said to be anonymous and offering the gaming world a whole new way of connecting players and their transactions, with some of the best online casinos even taking on the Bitcoin revolution, and some equally as worthy contenders starting up because of Bitcoin and its technologies. You are even now able to ad on a cryptocurrency node to new and exciting technologies such as the Raspberry Pi 3, showing just how versatile blockchain technology and the cryptocurrencies it supports are becoming. But how is Blockchain affecting the security of the gaming world?

How it Blockchain changing gaming?

Before we can go into any depth about the security of Blockchain technology in the gaming world, it’s important to look at its overall influence. In-game purchases on a blockchain system in some online games has developed to a point where it is practical its own self-supporting, fully-fledged virtual economy. Players are spending a considerable amount of money on just as many hours of gameplay all for virtual goods, some of which can even amount to real cash if they’re in high enough demand. People will pay real money for virtual items just because they’re collectable or rare. In some cases, many people are spending more money on in-game content than they’ll spend on the game initially, or even in general everyday life.

Blockchain can also give control back to not only the gamers as a whole with their purchases, but to the game developers. Decentralising the gaming industry would mean that each game producer could have control over their own developments and all of the money that comes from it. Platforms such as Steam and Apple take a considerable share of the revenue that comes from a game, meaning that the developers often don’t get much of their profits at all. A blockchain system within gaming will help these games stand on their own two feet, and give control and profit back to the developers.

What support is out there for Blockchain and virtual currencies in the gaming industry?

With bitcoin and blockchain increasingly in science and technology news, it’s clear that the interest and support for Blockchain technology and the cryptocurrencies associated with it is constantly growing. Within the world of Bitcoin in particular, the support is already at an incredible level. The UK Gambling Commission, for example, supports Bitcoin as a payment method for gambling. In 2015, this group published a paper giving their opinions on cryptocurrencies, even considering them to be “equal to real-money wagering”, leading to more reputable online casinos beginning to offer this particular payment method. They made it clear that they believe online gaming companies need to start offering Bitcoin as an alternate, more secure payment option from transactions to in-game purchases.

There is also support within the game industry itself. Four of the world’s biggest and most popular gaming platforms had taken on Bitcoin as a way of payments. These four platforms are Play-Asia, Kinguin, G2A and Steam. Even MMORPG’s by Wargaming, and game Spells of Genesis offer complete Bitcoin integration. Spells of Genesis in particular takes Blockchain technology beyond just payments, however. It also uses this technology to provide a buying-and-trading card option in-game. Players can make money through buying and selling these cards, and having a highly secure cryptocurrency in which to do this is ideal for anyone looking to do this on a larger scale.

How about the computers themselves?

While Bitcoin is slowly being integrated into console gaming, generally PC gaming takes the hold. With the popularity of cryptocurrencies used in gaming, and ultimately blockchain technology, growing, more people are looking to make their own way in the Bitcoin world. Through this, gaming computers and processors are being updated on a regular basis in order to cope with the demands of Bitcoin mining. Some people are even considering reverting back to old bandwidth hacks or using these and updating them to suit newer computer models, to help ensure their computer is up to scratch for the purpose of mining Bitcoins, and also storing the cryptocurrencies.

So how does blockchain make gaming more secure?

Blockchain’s decentralised system’s most unique selling point is that it makes gaming fairer, and more secure while it’s doing it. But how? The system helps to ensure that no single person or company will have any centralised advantages when it comes to the gaming process, or the transactions that go on during this process. Blockchain means that gamers don’t have to wait until something goes wrong to realise that a site was unsecure when they put in their details. The technology alone gives gamers the peace of mind that their money and their details are secure in the blockchain system, and not at the liberty of a single person or company.

Financial transparency is another benefit of blockchain technology. The blockchain is a ledger in which all transactions are stored and verified, providing a completely transparent system. Transactions are conducted on a peer-to-peer basis, meaning that only you and your peers will be able to access the money transacted, and not the gaming company. You can enjoy anonymity if you so choose even while your transactions themselves are available to be seen, and with gamers using bitcoin and other cryptocurrencies having the added perk of getting a better value for money and no hidden fees to worry about, and with instantaneous payments to boot, you can be sure of effective, secure payments that only you can access using your ‘key’. The profits made by gaming companies and the players themselves increase, creating a win-win situation that is not only beneficial in a profit sense, but also in a security sense too.

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