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Doing a simple Google search of "Cryptocurrency" will collect 6,840,000 results in about .41 seconds. Compare that with a Google search for "Rex Tillerson", which returns a tenth of the results at the same time. This simple exercise of curiosity highlights that cryptocurrency is an important development in the market, in which our economy has only seen the beginning.
Cryptocurrency is indeed an inevitable product of our increasingly digital era. Blockchain technology has led to "cutting the middleman" in online transactions and is one of the main attractions of blockchain technology.
Naturally, many entrepreneurs and start-ups are trying to join this growing economic sector and generate profits. Therefore, Business Insider reports that there are thousands of forms of online cryptocurrency. Like any currency, cryptocurrency does not develop on (digital) trees; Instead, it is developed through a process called mining.
While the anonymous and decentralized nature of cryptocurrency and blockchain technology has raised concerns; many startup companies see a legitimate way to exploit cryptocurrency and, thanks to blockchain technology, are revolutionizing industries. The removal of the intermediary allows creativity in a way that would have been unthinkable just a few years ago.
An industry that can be revolutionized is the field of online multiplayer gaming.
History of the multiplayer video game
Since the beginning of video games in 1973 with Pong, video games have become a staple of Western culture – to the point that four out of five American households have a game of consoles ] E.
One of the most critical developments in video game technology has been the growth of the multiplayer game. Since video game consoles have begun to integrate Internet capabilities and computer processing technology, in a few years, the change has made video games completely different from their predecessors.
The implementation of internet capabilities has allowed an explosion of online gambling. While in the past years, a player could only play as a digital soldier making his way on the digital beaches of Normandy against German AI soldiers; Players can now play online competitively against other human controlled digital soldiers. This is to the point that most video game companies assume that their players will not even touch the single player mode and will choose to go straight to online multiplayer.
The introduction of online multiplayer via mobile devices has only continued to fuel the popularity of multiplayer.
Centralized multiplayer game and its faults
This online game is controlled by game servers, which video game companies own and operate. The servers transmit the data that allows players to play online and maintain the most up-to-date version of the game.
However, this has not been without dangers. In 2011, the PlayStation Network was hacked, and through the hack, data of about 77 million users were exposed . The hacking led the PlayStation to shut down the network for 23 days.
The danger of centralized multiplayer game based entirely on the shoulder of a company and its online servers springs from this story. This is also why decentralized blockchain technology could provide a solution that players can delay.
Solution: Decentralized Multiplayer Game
Companies as NetworkUnits.io. created platforms that allow decentralized online games. In the case of NU, it is driven by its cryptocurrency: the NU Token. The extraction of this cryptocurrency takes place in two ways.
First, the operation can be done through service providers who rent their unused internet bandwidth to the NU multiplayer online infrastructure. To do this, service providers receive NU tokens. In addition, to ensure that other service providers are not dishonest or offline, they will be penalized by checking random inspections from other service providers. Service providers who verify this are rewarded with NU tokens.
Secondly, active customers, that is, players who link their portfolios to their gaming accounts, will provide a second level of verification. Players will report complaints about service providers, which, if verified, will result in penalties for service providers. This verification process will strengthen the UN infrastructure.
Through this process, NU hopes to create sustainable methods to "expand the game beyond any geographical or economic limit." The intermediary of massive video game servers is effectively cut through the blockchain peer-to-peer network. can be used for online games.
The revolutionary nature of cryptocurrency and the ability of blockchain to eliminate the intermediary of the online transaction is just beginning. This capacity will have a considerable impact on the old business models in various sectors of the economy. In the case of the video game industry, the new blockchain technology has the opportunity to disrupt the market.
Considering the centralization of online multiplayer gaming in the world, it's not hard to see how this decentralized multiplayer gaming service could be the most important since Blockbuster's demise and ramp-up from Netflix.