The evolution of blockchain software development services mimics the early years of the Internet. Right now, the blockchain technology seems to be reserved for a select few, but soon enough every company will be using it on a daily basis.
At Innovecs we have deep expertise in blockchain development solutions and can help deliver disruptive solutions beyond Bitcoin. We provide blockchain application development, architecture and integration software outsourcing services, operation support for solutions to make P2P transactions more secure, transparent, and cost-effective.
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It is no secret that the gaming industry is one of the most profitable and technologically advanced industries promoted today.
With the speedy implementation of blockchain in different spheres of our life, its adoption by gaming industry is imminent and is no less significant than the synergy of online tech and gaming more than a decade ago. Plus, this so-called alliance has already produced riveting results. Here are some of them described below.
The end of a Monopoly Era
Nowadays, independent game publishers have a limited amount of resources to reach their final customers and get profit in comparison to the gaming giants. But with a decentralized blockchain store platform, small game developers and publishers can get direct financing for the development of future projects with sharp auditory features, and the gamers can take part in the creation of new interesting games.
Big companies having their own platforms literally dictate the rules for the whole market. For example, Facebook actively promotes new virtual experiences for users to be created exclusively for Oculus devices. With this approach, the company can suppress collaborations of game developers and users on other platforms.
The corporate monopoly puts big obstacles in the way of game developers, while decentralized blockchain platforms can become the best remedy for them. They allow developers and gamers to interact directly with each other. These interactions are regulated by smart contracts, not Facebook or Valve policies. The users can exchange gaming loot outside specific games, whereas the developers can make some extra chips.
Currently, only one gaming giant, Valve, allows selling loot at the Steam gaming platform. But this works with a limited number of games like Counter-Strike, Dota 2, and a few more. All income is held inside the platform without the possibility to cash out the money invested in the gaming items.
In contrast, the blockchain platform allows users to interact with each other outside of the game (e.g. to exchange artefacts from different gaming universes). Moreover, it can use the same blockchain-based cryptocurrency to reward in-game achievements, to purchase upgrades and game extensions or to buy other games from the online store. Most importantly, blockchain technology makes these actions easy, safe and free from intermediaries and speculators.
The development of a decentralized blockchain platform blurs the line between games commerce and a real eCommerce and creates freedom for both players and independent game developers. The same is true about eSports.
Integration of the blockchain smart-contracts into the popular eSports disciplines can literally make the bets on games far more transparent and effective as it also illuminates the mediators. A standard betting system implies the player’s money is placed in the account of the escrow agents. They are directly responsible for prize money distribution, and in most cases, this process is non-transparent.
Contrary to the classical system, in blockchain projects, the players make bets with the help of tokens, and the match results are saved in smart-contracts. Thus, the integration of blockchain into the sports betting system minimizes fraud actions and excludes unfair allocation of resources.
Bottom line, the blockchain in gaming industry it is not about cryptocurrency only. It is about far more complicated things as fair distribution of resources, upgraded fraud protection policies and growing trust inside gaming community.
Of course, the intensive interplay of gaming industry and blockchain technology will flourish in due course. But one thing is pretty obvious: the game industry is one of the most promising areas for successful infusion of the blockchain. And this movement will gain further momentum in the modern technological world.
And finally, we must admit – in several years we can witness a complete transformation of the gaming industry into better place to everyone.
Reinventing Augmented Reality
There are so many talks about blockchain in eSports and online gaming that the reader can ask a fair question – how blockchain integration can affect VR/AR technology. We are pretty sure that XR worlds will also experience the intervention of blockchain technology.
Here is a simple example. Imagine wearing your AR glasses or enabling a specific app on your smartphone, walking across the park and seeing an ordinary passer-by with a magical trophy from your favorite game in his hands. Or just fancy another scenario – you are walking down the street and a cloaked stranger suddenly appears and gives something to you. If you take the thing, you will get a new in-game quest.
With blockchain technology, you can catch virtual gaming coins on your way home and they will be automatically transferred to your gaming wallet.
In other words, the integration of blockchain into AR applications will increase gamers’ engagement and allow them to experience a tangible reward for their actions.
Summing Things Up
Even though the adoption of blockchain is still in its infancy and depends much on the cryptocurrency future, the gains game developers and gamers will get from it are great.
Achieving payment transparency, making interactions between gamers and developers straightforward, getting more freedom with decentralized blockchain platforms, and reducing the fraud incidents are just a few advantages we have mentioned.
The fact is, the application of blockchain will help many game businesses stay profitable and grow with time, and for gamers, it is the safety and entertainment that seem to be most valuable.
To read about the Innovecs expertise in game development, follow this link
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From Prototype to Product in Less than a Year
The Jamchester annual competition was held last month in Manchester with the goal to raise money for the charity Special Effect. Teams had a maximum of four developers to build a game from scratch. Find out about the teams that took part in the competition and how they fared by reading full article here: http://www.gamesindustry.biz/articles/2017-06-22-from-prototype-to-product-in-less-than-a-year
Hyperledger Fabric Releases Version 1.0 of Open Source Distributed Ledger
The release of the Hyperledger Fabric marked a significant milestone with the release of version 1.0. With the help of the distributed ledger you could prove the ownership of anything that has value, such as real estate, gemstones or even the origin of parts in a supply chain.
How Intuit’s Customers Have Benefited from Machine Learning
We all know Intuiut from products such as QuickBook, TurboTax and Mint. They have about 100 patents pending, 30 machine learning systems available and 42 million customers around the globe. But did you know that Intuit is also helping their customers via machine learning? To find out how and reap some of the benefits for yourself, read the full article here: https://www.forbes.com/sites/amitchowdhry/intuit-machine-learning
AI-powered Drug Discovery Captures Pharma Interest
Last month, Numerate of San Bruno California and Takeda Pharmaceuticals signed an agreement to use artificial intelligence produced by Numerate to discover new therapies in oncology gastroenterology and central nervous system disorders. This is just one of the latest research partnerships involving AI. To find out the latest about these breakthrough treatments and the role of AI in their developments, read the full article here: https://www.nature.com/nbt/journal/v35/n7/pdf/nbt0717-604.pdf
If you have already read all the articles and curious how to integrate online gambling into iMessage you can find out more in our latest blog article.
Online gambling has become an incredibly popular alternative to going out to casinos or making trips to the races. These days you can easily place small or large bets on quite a lot of different things such as sports, card games, and even e-sports. Although online gambling is considered illegal in some countries due to its addictive nature and propensity to destroy lives, it’s still perceived to be a rewarding past-time for some and a profitable source of income in the field of gambling development outsourcing.
Betting and gambling online once relied solely on cold hard funds of those placing the bets. However, with the relatively recent introduction of Bitcoin, the way players can place their bets has drastically changed. Now you no longer need to tap into your bank accounts, provide personal information for payments or wait long periods of time to get your payouts. Bitcoin has essentially wiped out the need for a lot of these processes which has in turn been a way to deliver disruptive solutions using Bitcoin.
Bitcoin was first introduced by Satoshi Nakamoto in October of 2008 to process peer to peer transactions without having to use an intermediary. The transactions go through network nodes to be verified and get recorded in what is known as a ‘blockchain.’ Get to know more about the Innovecs’ expertise in the blockchain.
A Bitcoin is able to be digitally stored on a person’s computer. This makes it act like a real currency that can be stolen, lost or destroyed. The price of a Bitcoin varies as it all depends on supply and demand, like when you invest in shares or products.
Although there were other cryptocurrencies present before Bitcoin, Bitcoin is generally referred to as the first of its kind. However, it would be more accurate to say that Bitcoin is the first decentralized digital currency. Despite all of this, Bitcoin is the leader of cryptocurrencies in regards to its total market value.
Being used as a solution for eCommerce and retail businesses, Bitcoin has also opened the market in blockchain application development. A blockchain application is a public ledger to show all Bitcoin transactions to have been executed. Bitcoin has also been pounced upon by criminal organizations which has heavily attracted the interest of law enforcement, financial regulators, and legislative bodies, though officials in some countries like the United States recognize that Bitcoin can also be used for totally legitimate financial services.
With the rise in popularity of Bitcoin, it’s not surprising that it has become a new payment option when thinking about top-notch gambling development expertise. The impact this has had on online gambling, and the rise in gambling development outsourcing is that since 2016, Bitcoin has needed to be integrated into the traditional online gambling industry. Of course, since the creation of Bitcoin, there have always been gambling websites that have accepted Bitcoin as payment, but as of 2016, it has become more widely regarded as a way for players to make deposits and receive payouts. Because of the large amount of attention Bitcoin receives, the online gambling industry are starting to see Bitcoin as a requirement instead of an option.
At the moment, in online gambling there is a worry that Bitcoin will continue to take it’s permanent place across the entire online gambling industry. This ideology also carries a benefit to the online gambling industry, as the role of gaming regulators could eventually become obsolete seeing as the blockchain technology rooted into Bitcoin may very well liberate gambling websites from the clutches of anti-competitive dictates of payment blocking set in place by certain governments.
In the UK, the UK Gambling Commission has already made updates to their License Conditions, and Codes of Practice to state Bitcoin is an accepted payment option for licensees. But along with that came a provision that requires licensees to put in place procedures that would prevent Bitcoin being used a money laundering process.
With the implementation of Bitcoin in the online gambling industry came the use of this digital currency as a way for affiliates to receive payouts. Networks of online gambling affiliates are pushing the use of Bitcoin because of difficult issues that arise when using the traditional banking system to make and receive payments. Some affiliate networks of online gambling make Bitcoin the only way to receive payments.
Some of the key features brought up that show how considerable Bitcoin is are:
- Zero restrictions on the amount of Bitcoin that can be sent
- Personal information isn’t a requirement for payments
- Payouts can be processed within the hour
- The minimum payment threshold can be lowered to $10
Even though the personal information isn’t a requirement, some online gambling websites have implemented a need for a new Bitcoin address to protect privacy for both.
Bitcoin has rapidly become a very quick and cost-effective way to process payouts for both affiliates and players. However, not all affiliate networks have made the use of payments to be accepted via Bitcoin to be mandatory. Instead, they’ve created rewarding incentives to switch to the popular P2P cryptocurrency. For example, a 10 percent bonus for those who receive payouts via Bitcoin instead of traditional payment methods.
With the amount of attention, Bitcoin is receiving from the online gambling industry, it certainly shows how much of an inconvenience it is to go through traditional banking methods. But also, those with top-notch gambling development expertise will certainly be feeling the pressure of getting around the Bitcoin implementation that does currently deliver disruptive solutions using Bitcoin. Because Bitcoin is perceived a solution for eCommerce and retail businesses, more people use them meaning more people will have the desire to use them when it comes to online gambling so it looks like the rise of Bitcoin is unavoidable.
Product: The project’s goal is to develop service application acting as a connection proxy between Telegram user accounts and Coinapult wallets. Service should enable Telegram users to perform Bitcoin transfers between each other using Telegram account names and/or Bitcoin addresses. The service was designed to interact with Telegram via Telegram BOT API and with Coinapult via Coinaput API.
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Partner with a Multidimensional Blockchain Development Company
Since your company is not one-dimensional there is no need to partner with a one-dimensional company. Our multifaceted blockchain software development company has a unique combination of industry expertise, insight and expertise to develop the most intricate software which will meet your exact specifications. Bring us your toughest problems. Our software developers enjoy coming up with creative and innovative solutions for all blockchain software issues and removing any pain points such software may have.