Blockchain gaming is on the rise.
If you do not know, a blockchain video game is one that includes elements of blockchain technologies.
Most typically, that refers to cryptocurrency or non-fungible tokens that players can purchase, sell, or trade with other players.
What is a gaming blockchain?
Basically, a blockchain is a chain of data blocks on a computer network.
It is transparent to anyone and it cannot be altered or relocated, so everything that transpires on the network, in relation to the data, is perfectly preserved.
The system is decentralized. That means a blockchain is not owned or controlled by a central authority. Instead, it is the users who control it, via possessing digital assets and objects.
Just like people own a certain number of Bitcoins in a digital wallet, people hold a certain amount of non-fungible tokens on a gaming blockchain.
Those NFTs are transferrable not only within games. They can also be transferred to wallets outside of the game.
The first game that is known to have used blockchain technology was a game called CryptoKitties, which was released in 2017. Players purchased NFTs with the Ethereum cryptocurrency.
Each NFT consisted of a virtual pet that could breed with other players’ virtual pets to create offspring. Incredibly, shortly after the game’s release, one virtual pet sold for over $100,000!
Also, it is not only within online video games that blockchains are used. Several online casinos have emerged in recent times that enable players to make cryptocurrency payments and withdrawals.
The digital currency is recorded on a blockchain.
Check out this insightful article to learn more about how to explore gaming in new crypto casinos.
The Technology Behind Blockchain Gaming
To understand the technology behind blockchain gaming in a simple way, you need to learn about the four main components of a blockchain network.
They are the blocks, chains, nodes, and master nodes.
Blocks are the core of a blockchain. They contain records of all past transactions and have segments that are reserved for saving the data of future transactions.
Different blocks on a blockchain network are interlinked with a chain. Every time a block’s hash code is solved, it gives way to a new block.
On a blockchain network, a block consists of hash codes, Merkle tree, and nonce.
As mentioned, the blocks that are inside a blockchain network are connected to one another.
When multiple blocks are joined together, they form a chain of blocks.
Millions of records are kept on blockchains. To store the huge amounts of data, nodes are needed. Things like PCs, laptops, and large servers function as nodes. In a blockchain network, all of the nodes are linked together.
In addition to containing the complete history of a blockchain network, nodes verify signatures, add new blocks to the network, ensure the answer of the hash code is correct after authenticating the relevant details, and check the validity of transactions.
Some blockchain networks have master nodes. They are more capable than standard nodes. Master nodes, while taking up more memory than normal nodes, facilitate voting events and can foresee events in a blockchain network.
The main task of master nodes is to maintain an equilibrium between the blocks.
Unlike normal nodes, master nodes are not responsible for adding new blocks to a blockchain network.
Cryptocurrencies like Bitcoin, Dash, and Ethereum are examples of blockchain technology that utilize master nodes.
You should hopefully now understand the technology behind blockchain gaming better.
To recap, a blockchain is a chain of data blocks on a computer network. It acts like a ledger, recording all transactions.
A blockchain in gaming typically refers to games that enable players to buy, sell, and transfer non-fungible tokens and cryptocurrencies. Blockchains are also used by online casinos that accept cryptocurrencies.
As for the technology behind blockchain gaming, a blockchain’s main elements are blocks, a chain, nodes, and sometimes master nodes. Each one serves its purpose to create the whole of the blockchain.
If you are interested in playing blockchain games, you will find multiple ones online; but if you are new to cryptocurrency, you should first learn more about cryptocurrency wallets and the different types of currencies available.