After the carnival of capital in the blockchain industry last year, the number of blockchain companies worldwide soared to thousands by the end of March 2018, according to media reports. With solid capital, media, and human resource support, a complete supply chain has taken shape in the industry, encompassing everything from hardware manufacture, platform building, and security service at the upper end, to technical application in the downstream sector.
In 2018, however, both the industry and investors tend to take a step back, and try to evaluate projects cautiously with more reliable factors, such as team mix, technical strength and market scale, before they pick the horse and place their bet.
Public Blockchain Platforms are Competing to Take Lead in 2018
An industry will generally divide into refined segmentations as it grows bigger and becomes more sound. Blockchain is no exception. Among public, consortium and private chains, the three types of blockchain classified by their access level, the public chain serves like an ‘operating system’ of the blockchain world, providing an underlying protocol that enables data storage, network transmission, transaction calculation and consensus algorithm. Such a fundamental field undoubtedly attracts more players and takes in tremendous investment.
Nevertheless, the market of public chain does not see an overwhelming power with contenders playing nip and tuck.
EOS, the much-hyped front runner, has been busy dealing with catastrophic bugs recently; while Ethereum is suffering slow transaction rate, high cost and other inherent flaws. They seem not robust enough to undertake the development of blockchain 3.0.
Requirements for public chains today cannot be made clearer. At a minimum, they have to be highly scalable, highly concurrent, and capable of handling massive transactions. Although developing the understructure from scratch signifies a huge project for start-ups, they do take the initiative in building the ecosystem of blockchain and benefit from its broader application.
Deploying Public Chain in Game Industry Is the Right Thing to Do
The latest statistics by Newzoo, a Dutch market research company, indicates that the revenue of global game market approached USD108.4 billion in 2017. This immense market certainly provides a fertile ground for application of blockchain technology.
The world’s game industry is not perfect though it has grown into a titan over decades of development. For example, to reach their users, development companies have to go through quite a few of barriers standing in between the two sides: publishers, platforms, distributors, advertising agencies, etc. They are also exposed to huge losses due to rampant dishonesty such as click fraud. The good news is, blockchain as an inalterable and decentralized ledger can be an ultimate technical solution to these longstanding problems.
As for gamers, blockchain technology simply makes their gaming experience awesome. Cross-chain transaction, for example, is made possible. In other words, you can exchange your skin in Fortnite for a weapon in PUBG. Those coins and gears you purchased in games with real money will truly be private assets disposable at your discretion instead of being limited by the development company.
At the end of the day, what really matters when it come to implementation of blockchain games is the strengths for development of underlying technology and peripheral ecosystem.
GaiaWorld blockchain to Offer Better Underlying Technology
The community was only reminded when the phenomenal CryptoKitties congested the Ethereum network back in 2017 that performance improvement remains the top priority in building a public blockchain for mega-games.
To smash the bottleneck, GaiaWorld has developed the innovative CPoS consensus algorithm that enables faster block generation than DPoS. The transaction processing rate, touching 4000tps at present stage, can be pushed up substantially to support operation of maga-games. In the meantime, Gaia Parachain, GaiaWorld’s unique parallel chain technology, is ready to realize the cross-chain transaction and bring about revolutionary change.
Beside all those conceptual bells and whistles, it is more crucial to figure out the answer as to how to scale up the understructure of blockchain, thereby supporting the implementation of commercial applications.