Integration of Gaming with Blockchain

Integration of Gaming with Blockchain

May 10, 2019 Editor's Desk
tokens digital gaming Blockchain based marketplace of in game items waves and the abyss

Without any doubt, blockchain is still searching for its mass adoption, a perfect application that can set its path to becom a usable technology adopted widely by the users.

Many people know only one application of blockchain that is cryptocurrency but adoption of blockchain by the financial sectors has shuttered many faces, though there are many regulations from governments all the world.

Blockchain technology has a very broad scope in various areas and sectors and industries, such as IoT, Manufacturing and Medical industry supply-chain management. However, none of these sectors or industries has come up to this date as a successful application for how blockchain can be implemented with full buy-in and mass adoption.

But the gaming industry has a lot of potential in using and implementing the blockchain technology. Gaming is as a global phenomenon generates each year revenue of ​$110 Billion​. It is also an industry that is run by people who are inclined to technology and predominantly younger. Blockchain does need that persona to target for early adoption.

The demand for virtual gaming items is quite substantial in this day and age. Many players are attracted to the notion of advancing in the game. Virtual items like characters, power-ups have gained monetary value in the real world. This has also attracted fraudulent and fake sales, money laundering, phishing attacks as well as theft. Also, the databases of the games or sites that allow trading of these virtual items contains thousands of credit card details and are frequently targeted by hackers.

Therefore, given the huge size of the challenges which we mentioned above, the gaming industry does show potential for the blockchain. Here some the ways by which blockchain can resolve problems for the gaming industry to protect players and game makers interest.

1. Making payment processing secure:

The database of these gaming websites contains thousands of credit card details. Players worry about the protection of this

Integration of Gaming with Blockchain

information and their data. With Blockchain, gamers can keep their debit or credit cards details secure.

No matter how small the payable payment is, blockchain projects like Harmony offer a decentralized environment where projects can create their own native token or currency. There is no way for a hacker to steal these tokens.

2. Minimizing fraudulent downloads:

The gaming industry suffers the maximum attack of online fraud downloads. Harmony Blockchain aims at saving billions by eradicating every chance of fraud.

● Here is how:​ For each successful purchase, buyer’s public-key record is saved in the decentralized database. When the player opens the application, they have to enter the associated private-key to unlock and enjoy gaming. This works as an individual user licensing. There isn’t any

Integration of Gaming with Blockchain

way by which hackers can tamper with this database to add fake accounts.

3. Safe trading of virtual items:

●  Trading sites for virtual items have weaker security than a shopping site or online bank. ​The use of Harmony blockchain is able to establish a decentralized marketplace where items can be traded safely and securely.

●  Each virtual item earned or traded in the game can be associated with the owner’s public-key which works like an ownership right. This will enable items to be traded in the platform only with the associated private key.

●  Harmony Smart contracts will add a layer of security where virtual items can be permanently locked in the individual account or could exchange the ownership right when needed.

Integration of Gaming with Blockchain

● Many games also enable users to lend their virtual items. By using the Harmony smart contracts they can set a timeline to lend, ensuring they are returned back upon completion of the timeline.

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