Blockchain is the new twist. 30 years before the world wide web was a mania that revolutionized and transformed everything starting from a-z in our life. But that doesn’t mean it’s the end. Obviously it was just the beginning and it began and now we have reached Blockchain
Blockchain application continues to transform
banking, currency, data storage, gaming and etc. Yeah, gaming too.
Cryptocurrency In Online Gaming!
One of the most frustrating and expensive problem faced by the online gaming industry is the lack of efficiency in collecting and payment of money across users. International transfers and middle men eat up money and things can be really expensive when you are dealing a lot.
Cryptocurrency enable transfer of funds in the fastest way and without fear of international borders. The transfers among ‘Smart Wallets’ has enabled users to have a seamless and efficient paments for their ‘virtual’ work.
'Virtual' Insurance
Often online gamers gets cheated over their hard earned money through virtual gaming. And there is nothing to do about it. The gamers loose it. So what if you are insured. Well that’s cool right. Then Enjin and WAX coin have enabled and come up with such an idea.
‘Worldwide Asset eXchange (WAX for short) allows users to create safe virtual marketplaces so you can accept cryptocurrency in exchange for virtual goods.’. With the online gamers increasing as well as unauthorized gaming platforms fraud customers, the idea is getting popular.
WAX Token
Enjin Coin uses Ethereum Platform to enable users to manage the asset. ’Online gaming communities often use this platform to create virtual goods, tokens and currencies with the backing of Enjin coin. It’s like an insurance company that provides cover through the backing or an underwriter.’ The Coin enables users to use ‘Smart Wallet’ that allows users to play at various platforms and bet with other users.
Enjin Token
The Industry is expecting various other tokens too. Gaming is one of the digital industry that can have major implication with the technology. Prize payments in token and ICO can have a crucial effect over the tokens.
Posted from my blog with SteemPress : https://cryptx.eu.com/cryptocurrency-a-much-needed-in-online-gaming-industry/