Many fantasy based games today have built themselves on paid transactions of items, characters and currency. However, there is a lack of transparency, privacy and flexibility in these game-related transactions. Blockchain technology will help with ownership in games and the technology and bring many other improvements to the gaming world.

Ownership of virtual items

Blockchain technology is the underlying technology behind the most famous virtual asset today; cryptocurrency. It does not take a genius to make the leap from cryptocurrencies to other virtual items, like those in the gaming ecosystem.

By mid-2000’s, gamers were spending 12 hours at a time purchasing virtual gold and ‘farming’ on online games. People were actually buying virtual coins and goods for real money in order to take part in online sagas. However, this practice also resulted in a lot of thefts and frauds.

Using blockchain technology, all transactions will be made secure, transparent and possibilities of theft will be eliminated. The distributed ledger of blockchain technology will keep every person on the database aware of transactions happening within the game.

The technology is the perfect solution to prevent theft on online games and will also make the process simple. The transactions happening within the game are not stored on just one computer, they are stored on a network of computers and they are verified in the same way. The transactions are recorded on every node in the network and will remain intact even when the clients go offline. The cold storage helps where games require customers to be online 24X7 in order to keep the items in their profile intact.

The blockchain network makes trust unnecessary because fraud is near impossible on the network. The application of blockchain technology to gaming is realistic and clever.

Direct use of cryptocurrencies on games

The gold and goods obtained by gamers on online games are rarely useful outside the ecosystem. However, switching to cryptocurrencies as the digital asset used in the game will give gamers an opportunity to actually use the money they work hard to earn, albeit through gaming.

Smart contracts can also be used to confirm the transactions. The code-run contracts will function without manual interference, working on a simple if-then code to regulate pre-determined obligations. The conditions are listed in the contract and shared among the involved parties for verification.

Feelium

Feelium is a tokenized platform that offers smart contracts and escrow services as utility features. Gamers can easily utilize the smart contracts available for free on the website to facilitate trust-less transactions on online games. Feelium tokens can also be used as a means of purchase among the gamers, making the entire transaction easy, fast, transparent and most importantly, secure. Register today at www.feelium.co to learn more about Feelium.