INTRODUCTION
Over the years there has been an increasing hunger for digital payments. Blockchain based digital currencies has witnessed a massive adoption rate by businesses and ventures all over the world and the gaming industry is not left out owing steady growth in the upcoming streams of computer games that use cryptocurrencies in one way or the other. Blockchain gaming can be dated back to 2014, which was the era when the huntercoin gaming was existing. Online gaming market has seen a significant surge in growth since then due to the springing up of new technologies and the ever growing accessibility to internet.
CHALLENGES IN THE GAMING INDUSTRY
Presently several challenges still exist in the gaming industry such as game distribution issues, high promotional cost, absence of trust between players, developers and service providers in centralized gaming platforms, high transaction fees, slow processing, fraudulent activities, low returns, lack of transaction security and non friendly user experience which needs to be addressed because all of this challenges affect both the players, service providers and the overall gaming entity. A sustainable model that can combat all this challenges in the gaming industry will be with the help of blockchain technology
In light to this challenges and taking the gambling sector as a case study, Faireum a decentralized gaming platform has been developed to rehabilitate and strengthen the online gambling system by providing a fair and modern gambling system through blockchain technology that will encourage both game developers and players
Globally in the gaming industry, the revenue generated from gambling both online and offline was estimated around forty three billion in 2017 which is very attractive and will need to be improved with growing technology to sustain and increased the revenue.
FAIREUM AND IT SOLUTION
Faireum is a blockchain encompassed with a set of gaming protocols using the Byzantine fault tolerance based delegated proof of stake (BFT-DPos) consensus algorithm directly focused on the gambling industry to provide a transparent, secured betting and a decentralized gambling experience at extremely low cost.
Faireum aims to revolutionize and change the face of the gambling industry through it superb smart contract client by providing a secure, fast and borderless gambling network as well well provide a guaranteed betting experience and services casino and lotteries.
Faireum is a revolutionary decentralized gaming platform that is going to bring fairness, transparency and visibility back to gambling such as betting with it well built gambling and betting application built on Ethereum blockchain.
ADVANTAGES OF FAIREUM
With the unique features of the decentralized gaming platform presented by Faireum for gamblers. Faireum has put in place all the online gambling requirements to ensure secure, trustful, borderless and fast gambling experience. Users of The Faireum platform will benefit enormously from the following
• They will have reduced cost of running and operating online gaming using the Faireum platform thereby making higher profits
• There will be maximal reduction the occurrence of fraudulent activities on the Faireum platform.
• Access to monetization of games by game developers which will in turn help game developers to generate revenue for their work without having to play the games themselves
• Rewards inform of incentives from Faireum team to game developers through it integrated incentivized sharing system
• Using Faireum protocols and it provided third party which will provide trust and transparent service.
CONCLUSION
The Faireum gambling platform using it unique sets of protocols will run on it Faireum blockchain embedded with the capacity to support new generation Dapps for gambling. This project will sure be the anticipated change in the gaming industry we all waiting for because Faireum are set to deliver a wide range of fair game content from an open developer market place
Please visit the below links to gain more Insights about the Faireum project
Website: https://faireum.io/
White paper: https://faireum.io/assets/files/Faireum_whitepaper2.0_En.pdf
Twitter: https://twitter.com/faireumofficial
Facebook : https://www.facebook.com/faireumofficialpage
AUTHOR
Bounty0x Username: Andycapable4u