Today, I would like to share with the community some interesting information about this project called ugChain.
Introduction
We all know, whether we are gamers or not, that the gaming industry is absolutely huge with consumers all around the world. In every continent there are millions and millions of people that have adopted gaming as their favorite hobby, and constantly invest considerable amounts of time and money into it, with the hopes of having a nice and relaxed time while enjoying their games, which in the last few years, have been mostly online games, given the major interaction people can find with online playing instead of playing alone against the computer.
Nevertheless, the distributions channels and the systems used to handled all of the information about these games are for the moment, centralized, which means that they are more susceptible to commit mistakes because its only 1 entity that takes the responsibility of managing everything correctly since it has the complete control over everything.
In other words, its clear that the gaming industry has enough market for a project that could bring innovation in the form of the blockchain technology implemented with the final goal of decentralizing how the game industry operates. The potential is certainly promising.
Enter ugChain
ugChain is something more than a simple blockchain, it goes one step further to effectively be able to light the spark that allow the blockchain technology to really take over in order to make the gaming industry more efficient, more stable and of course, much more secure.
ugChain can be considered “an ecosystem consisting of a series of decentralized applications, the core of ugChain is a decentralized account system (DAS) based on blockchain technology. The system has built-in exclusive token UG Token (UGC), which simultaneously has the equity attribute and monetary attribute.” | Source
When I mentioned ugChain isn’t a simple blockchain its because this project is able to manage several types of blockchain technlogy simultaneously, they can store and integrate certain information on a regular public blockchain (where every person has access to absolutely every bit of information, and every single transaction), and they can also implement things such as background applications on a consortium blockchain (which is the middle point between a fully public blockchain and a private one, in simple words, this is when a selected group people/entities are the ones who are able to manage the blockchain, its information and its transactions), this innovative way of implementing blockchain technology is something unprecedented and if it wasn’t enough, its possible to dynamically change between one blockchain or the other in case there is some kind of congestion that cause the users to require more speed than normal. Its also important to notice that with a decentralized system, scaling is considerable easier, because any person around the world can simply connect to the blockchain (if its a public one of course) and help in increasing the bandwidth.
Since we are speaking about several types of blockchains and the fact that with these projects multiple blockchains can be used, its important to note that sidechains aren’t the same as coupled chains, although they are similar.
Sidechains are nothing more than the ability to add new functions (like adding Turing complete capabilities to a blockchain that doesn’t allow it) to an already existing blockchain, without the need of having to change its code again and again. This is possible because the new feature is added to a different blockchain, so it can later be connected with the “original” one. In simply words, its a way of experimenting with the addition of new features on an already existing blockchain.
Coupled-chains as I explained before, allow the use of different types of blockchain, in order to find a proper balance between stability, privacy and efficiency through the use of public, private or consortium types of blockchain.
Having explained that, we need to realize that the impact a decentralization way of managing digital asset could be considerable, because it would make everything much more secure for every person involved in the transaction. Since there wouldn’t be a single point of failure as is the case with the centralized systems.
In order for someone to commit some sort of illegal activity under the system ugChain is developing, the hacker would need to take control of the majority of all the computers that are connected to the blockchain confirming its transactions, computers that obviously are all around the world, in different continents and having access to all of them simultaneously would be incredible difficult, this is why a decentralized system offers much more security when it comes to verifying transactions than a regular centralized system, the amount of work required to hack it is exponentially bigger.
This could protect things like players who cheat to enjoy some kind of illegal advantage in the game, or more importantly, this could also be of huge help when preventing privacy, which we all know is a serious issue in the gaming industry, with millions of people using piracy content instead of paying for it.
Having transactions that are confirmed in a decentralized way, will surely make the players behave responsible, because if they don’t, chances are that whatever prohibited activity they are doing will be discovered, and consequences would be applied accordingly.
It is also good for game developers since it will open up a new way for them to distribute their digital creations, with the added security already mentioned that is provided by the blockchain.
Conclusion
This project can really end up starting a new revolution in the gaming industry towards a world in which every interaction between the gamers is made on a decentralized way, benefiting everyone involved while also allowing for more people to take an active role in this industry thanks to the open nature of any decentralized system.
The potential is certainly there, as they have important partnerships with huge China companies that are involved in the game industry, and could gain massive technological advance over its competitors if they decide to implement blockchain technology in their activities.
If you wanna know more about this project, I invite you to visit their website.
If you wanna know more about how this blockchain project works, please feel free to check their whitepaper.
For an really informative read about the project, please check this article
And if you want to ask me any question about this project, feel free to leave a comment below.
Thanks for reading!
After reading this post, I know that it took a lot of efforts to write down this post.
I also figured by your enthusiasm that you must be a gaming enthusiast.
But, by what I have seen in the crypto world in the last year, I believe that most of these projects are full of empty words, they all fail at the end.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Who knows mate, but from what I have learned about this project I really hope this becomes one of the successful. The potential is certainly there, and the market is there as well.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Then, I hope that you grow with this project.
All the best for this project buddy, I hope you are right.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Another great piece of work. Informative and so easy to read.
Please continue up with creating interesting content. Steemits needs solid content builders.
Already followed. Cannot upvote this time since I kind of run out of voting power.
Yours, Piotr
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Hey there mate, thanks for your comment and your encouraging words. I am glad you liked the post.
Cheers!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Im not much of a gamer but this project is definetly bringing my attention.
Good and informative post. very easy to read. Keep up with great content :)
I kind of run out of voting power so i cannot upvote this time around. Sorry.
But I will definetly follow you very closely mate :)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit