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  • MBA in Investment Banking
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  • MBA in Fintech
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  • Post Graduate Program In Finance And Accounting
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  • Professional Certification in FinTech
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  • Banking And Wealth Management Bootcamp
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  • Post Graduate Program In Capital Markets
    4.7 out of 5 by 807 learners
    3X industry demand

 

People have started connecting blockchains with financial transactions, cryptocurrencies and now the era of game development. Let us explore how you can benefit from a Learn Blockchain program.

What are the Blockchain Games?

A Learn Blockchain program is essential to understanding the gaming platforms working. Gaming platforms run on closed loops of data and development since no one else should create newer versions of it. Blockchains are innately made for this very purpose of reusing the data assets through smart contracts thereby providing for reuse and analysis of the data stored on them.

Blockchain games are distributed among ‘players’ and are digital goods that are decentralized. Depending on the platform used they use their own tokens or the tokens of the hosting platform. Ex: ‘ether’ on the Etheruem platform.

Key Concepts:

The terms make use of the blockchain features as applied to the gaming field.

Game theory: Blockchains run on network design and game theory. The game theory according to Wikipedia, studies the math models of interactions between sets of decision-makers who are rational. It was used for zero-sum games meaning one person’s win is the loss of the other players. It is widely used in CS, social science and logic applications. A good example of the zero-sum game is Fomo3D.

Tokenomics: Tokenomics makes sets of different groups with a common interest on a platform or network governed by various features of game theory. The tokens are used to incentivize and create new digital assets in a blockchain game. Tokenomics is exclusive to blockchain platforms and is not used on other platforms for gaming.

Decentralization: Since the coding on blockchain games can be studied and analyzed easily a lot of transparency is brought in. Further, the outcome of the game is not controlled. When developers update or try to alter the game which is not endorsed by the community of players, a forked version can be built from the game.

Potential benefits:

Blockchain games can have many potential applications in the gaming industry as proven by the number of successful ones.

The major benefits of blockchains are that they enable

1- Reusable Assets:

PUBG and such game-collectibles and accessories cannot be used outside the game as on desktops, mobile, and other games. However, the blockchain ecosystem is an open distributed platform using tokens. Marketplaces like Opensea and Rarebits now allow you to trade, buy or sell these collectibles of gaming. Thus a whole new field of economics opens up.

2- Transparent incentives:

Blockchains incentives are verifiable open and involve real-world incentives. The network verifies the game and hence no scams and Ponzi’s can flourish. Today you can play and earn money because of this inbuilt incentive feature and this has spawned many more blockchain games.

3-Aligned interests:

The players and developers interests are on the same team. Since developers cannot change the game without community approval, it is trust-based and difficult to make money by exploiting users unfairly.

4- Unstoppable Games:

Games that run on centralized servers can easily be closed down citing various problems. This problem is effectively prevented in Blockchain games since the community of players can fork versions of the game from the change on the blockchain.

5-Low-cost Migration:

A smart contract allows for low-cost migration. When the game rules are to be updated, a sub-contract can be used. Data is stored on a different contract and hence the parameters and behavior need not be changed.

Limitations to Blockchain games:

UX and Scaling:

The multiplayer Ethereum game has significant 15 tx/sec limit. Projects like Loom Network and POA Network are trying to resolve the scaling issues. Hybrids like Gods Unchained are also affected by scalability issues. The first UX game Cryptokitties cashed in on its best feature namely UX. One will have to Learn Blockchain to better the integration, competition and UX with other game-platforms.

Talent shortage:

The ecosystem lacks professional developers, gamers and standardized training to meet the shortage. Currently, ethereum’s community is the largest. The demand for professionals is high and very obviously the payouts can be fantastic!

Concluding notes:

Learn Blockchain games before they get mass adopted. As scaling improves developers are building blockchain games like TRON, EOS, etc. Decentraland shortly plans to build a virtual world of blockchain assets offering better reusable assets, incentives and transaction rates.

Start your Learn Blockchain Course today at Imarticus Learning Academy to make a bright future in gaming-related blockchains.

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About Imarticus
Imarticus Learning is India’s leading professional education institute that offers training in Financial Services, Data Analytics & Technology. We’ve successfully transformed careers of over 35,000+ individuals globally through our Certification, Prodegree, and Post Graduate programs offered in association with leading and renowned global organisations in the Financial Services, Data Analytics & Technology domain.
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