Blockchain gaming is rapidly transforming the world of online gaming and gambling. Gaming has grown exponentially since the inception of mobile gambling. In recent years, player numbers have surged, catalyzed by the convenience and flexibility of online options.
When the pre-mobile days are put into context, the sector has already benefited majorly from the technological advancements compared to the exclusively physical and in-person gaming.
But even with all these advancements, technological barriers still exist within the gaming industry which slows down progress. Transparency and trust remain a major issue for some of the players, and the operators. Furthermore, compliance with the licensing standards set by lawmakers and regulators pose more challenges for the operators to solve.
Gaming experiences are reliant on mainly centralized systems, which are also vulnerable to hacking and manipulations.
That is where blockchain comes in. This technology is already shaping the gaming future and is anticipated to be the next big technology to bring massive changes through the industry, for the better. But many ask, why does the gaming industry need blockchain, and what are the advantages of the technology for the players and operators?
Why Does Gaming Need Blockchain Technology?
Blockchain technology designs offer multiple distinct advantages over other platforms. Hence, it is ideal for gaming. First, there is transparency. When using blockchain systems, data is written automatically to a distributed ledger that offers an immutable and trusted source of truth.
Operators, regulators, and players can rely upon blockchain gaming data since they can all access the same data instantaneously in real-time. Thus, access to the data enables them to make decisions automatically or manually accordingly.
Regulators and players do not need to rely on the flow of information originating from gambling operators. On the contrary, the information is ascertained at the point of origin and then time-stamped to create an ideal audit trail.
This ability in blockchain gaming helps resolve player trust issues and the various disputes that inevitably come up along the way. But, it is also highly useful for the operators aiming to meet their compliance requirements.
Furthermore, the regulators can be offered permissioned access to data in real-time. That access will build a relationship of trust between operators and authorities that may not exist to the same level in the current siloed-data world.
Turning onto the security angle, all data that is held on the blockchain is theoretically unhackable and fully secure. Decentralization of this core information means that the operators are not vulnerable to hacks on the various central points of weakness.in turn, it delivers fairer and more transparent gaming experiences for everyone involved.
Besides all that, blockchain gaming technology is highly efficient for operators. It supports automatically settled bets, enhances the withdrawal and deposit processes, more streamlined onboarding, and low-cost blockchain payments using native tokens including Bitcoin SV (BSV).
The benefits that blockchain brings to the table are unlimited. In reality, there are many other ways everyone benefits from the integration of blockchain. In that context, it explains why more operators are incorporating blockchain technology to future-proof their businesses.
What Blockchain Gaming Entails
Blockchain in gaming is now proven to increase transparency, efficiency, and trustworthiness among the participants. But, questions turn to the technical challenges that arise and what information the operators can run on-chain.
While it is already technically possible, operators do not have to put everything on-chain to reap the rewards that blockchain tech brings. The optimum system uses elements both on and off-chain, operating seamlessly together to offer all the upsides of blockchain technology in a manner that is feasible within the current technical boundaries, while simultaneously safeguarding the commercial sensitivities of the operators.
The gaming operators can still maintain their hold of proprietary information and game logic by running them off-chain for privacy reasons. Player profiles, data, and game information on-chain ensure the gaming operations are smooth. Furthermore, blockchain gaming introduces the primary benefits of transparency and visibility for industry regulators.
A combination of on-chain data and the off-chain game logics and interactions create a model that is ideal for meeting the needs of the gaming industry. On the technical front, building for blockchain remains a major challenge.
While BSV has managed to streamline the process considerably, there is still an onboarding procedure that is involved for the operators aiming to upgrade and enhance their systems to take full advantage.
The up-front development phase does pose a barrier. However, the question for operators should be whether they can keep up with their operations without embracing blockchain, given the direction of progress made in the sector.
Future-Proofing The Business
Blockchain technology is improving at a massive rate. Concurrently, it is gradually becoming an inevitability that the gaming world will shift increasingly towards blockchain in the future. Future-proofing can appear quite expensive in the first instance. But, the costs of not upgrading sooner are comparable, if not worse.
The gaming sector is already shifting towards the blockchain-powered infrastructure. Hence, it is just a matter of time before all operators will have to decide whether they want to invest or get left behind by their competition.
A majority of the businesses seem to look forward 18, or 24 months at a time. But, with blockchain gaming coming into play, operators should think of the current shift over the coming 5-10 years. As is the case with cloud services, where everyone has moved or continues to move towards the cloud, the same applies to blockchain technology.
The only choice that the operators have is whether to integrate today, maybe on a cheaper basis or to wait until later.
Bitcoin SV Is Ideal For Blockchain Gaming
So far, Bitcoin SV has emerged as the perfect blockchain for enterprise applications. Furthermore, it is the only blockchain protocol that provides scale unbounded, with the technical structure to support gaming operations of different sizes.
Designed for the developers, instead of speculators, Bitcoin SV is proven to offer a technologically superior platform for development on a public blockchain. Since it follows every detail contained in the original whitepaper vision of Bitcoin, Bitcoin SV has managed to become everything that BTC is not.
It means that Bitcoin SV is fast with efficient transactions, massive scale potential, low transaction costs, and it is user-friendly due to its emerging suite of developer tools and integration with third-party apps. With the help of the BSV token, the blockchain supports automated digital currency payments to be set up within on-chain systems.
Many analysts and experts think that it is now the perfect time to integrate Bitcoin SV with the gaming sector and to future-proof with the undisputed protocol of choice for the industry.
The developer ecosystem is growing daily. Furthermore, the expectation of more technical and regulatory enhancements are expected to grow in the coming 18-24 months. Thus, BSV is the optimum choice for gaming operators who are taking a long-term view of their business.