January 22, 2021

How decentralized applications revolutionized the gaming industry

How decentralized applications revolutionized the gaming industry

At the heart of the next generation Internet will belay decentralized technology. Popular online entertainment applications are already moving to the blockchain. Why do they need blockchain and what is the peculiarity of using a distributed registry in this area?

Decentralized applications: the essence, advantages, disadvantages

Until the full transition of the Internet todecentralized applications (dApps) are still far away, but more and more projects and services are abandoning a single center in order to automate work, increase security and make their activity transparent.

DApp is an application thatIt functions without a backend, in a distributed computer system (for example, blockchain), using its power and taking over all the advantages. With their help, you can store information, create smart contracts and perform various operations with tokens.

The main advantages of dApps include:

  • instant interaction and data exchange;
  • the absence of a third party in the processing of payments and personal information;
  • open source
  • high stability and reliability of the system;
  • open access to the registry.

However, this technology also has its ownlimitations. Since decentralized applications run on the blockchain, they are completely dependent on its stability. Like any network, each distributed registry has its own limits, so congestion and performance degradation are not ruled out. It is also possible to hack the system and change already closed blocks, although in practice it is difficult to implement.

According to the Dapp website.com, currently more than 3,300 decentralized applications, which process about 33 million transactions per day, are already operating on various platforms in total. Although this is a drop in the bucket, compared with the scale of the entire Internet, but this direction is developing rapidly.

According to the DappRadar rating, mostExisting and most popular dApps belong to the categories of gaming and gambling. While decentralization doesn’t change anything for an online game, in the gambling sphere it has made a real revolution.

How decentralized applications revolutionized the gaming industry

Cryptocasino

Blockchain was the perfect solutionmain problems of online casinos. Its application for processing payments not only makes the gambling sphere transparent, but also significantly increases the efficiency of operations.

Earlier, transfers of funds between operators and players could take several days and part of the money burned high commissions. Cryptocasino also perform such operations quickly and without overpayments.

Cryptocasino payments are anonymous. The personal data of participants is not used in the blockchain, therefore, although turnover can be checked for incoming / outgoing transactions, they will not see who the bank or tax is behind these transactions. For example, financial institutions cannot track a client’s gambling activity when considering issuing a loan.

However, the benefits of cryptocasinoend because they use cryptocurrency as another payment method, but the number of bets made by the player and how many of them have become winning - remains unknown to everyone except the casino.

The value of blockchain for classic gambling

Blockchain ensures the integrity of cryptocasino,since each slot, game or lottery is dApps and the operator does not have the ability to influence them after launch. Moreover, a distributed registry allows you to get detailed information about the statistics of each individual application. Projects openly publish this data.

Despite transparent games and betting results,the number of dapps is much less than those classic games that are on the market, and they are pretty similar. If we continue to compare, then in classic gambling games there are whole systems of bonuses and gifts (all to attract players), and in decentralized applications the games are monotonous.

One of the few examples of casinos thatcombined blockchain and classic gambling, you can call Fairspin. The platform runs on the Ethereum blockchain, all operations are processed by a smart contract, and an internal TPLAY token is used for transactions. Site users immediately see the rating and the percentage of payments for each game.

How decentralized applications revolutionized the gaming industry

On the main page there is a section with extendedgame statistics, where in real time the latest bets, deposits and payments are displayed. Before playing for real money, the user can try any application for free to personally verify the specified chances of winning.

Fairspin does not offer gamblers to changetastes and switch to dapps. The project works with popular game providers, like other top casinos, but with the difference that information about all transactions between a player and a casino is public and available for viewing 24/7.

If the casino claims to win the jackpot,then in the blockchain explorer it will be possible to find the corresponding transaction. If users doubt the percentage of return on the slots, this can also be checked using MyEtherWallet and Etherscan.

Unstoppable progress

Transition to Web 3.0 began with the most popular areas, such as gaming and gambling, so users of decentralized applications were the first to experience the benefits of future technologies.