You might have heard about blockchain-based gaming projects that pay you to play the game. This is made possible by combining the Metaverse or gaming sector with DeFi; currently, many games provide such rewards but are not very lucrative or fun to play. Citing this, we believe that GameFi needs better games and for creating better games; developers would need to find a perfect blockchain.
In this guide, we're going to break down what different blockchains could be used, how they would work, and how you can choose the right one for your GameFi project.
How is blockchain relevant to gaming projects?
GameFi gamers are incentivized when they play games; this means that gamers can earn cryptocurrencies if they clear a level, competition, etc. Here, the gamers are theoretically mining the cryptocurrencies and NFTs; to support that we would need marketplaces and platforms to generate liquidity, value, and use cases for the cryptocurrencies.
GameFi projects can use blockchains in different ways, but the most common use is for creating and verifying digital assets. When you create a new asset on the blockchain, you are essentially creating a new record that can never be changed or deleted. This provides a high level of security and trust for all game transactions.
Besides, the fact that blockchain allows transparency, community-driven projects, and security is like a cherry on the cake.
What Are the Different Types of Blockchains?
When it comes to blockchains, there are a few different types you can choose from public, consortium, and private. The choice of type of blockchain could and should be according to your tokenomics, business model, and gameplay.
Public blockchains are open to anyone who wants to use them. They're decentralized, meaning there's no one central authority controlling them. This makes them incredibly secure, as hacking a public blockchain is essentially impossible. However, this also makes them slower and less efficient than other types of blockchains. You can use a blockchain like Ethereum to access the whole ecosystem and other protocols.
Consortium blockchains are controlled by a group of pre-selected nodes. This makes them faster and more efficient than public blockchains but still maintains their security. The downside is that they're not as decentralized as public blockchains, which can make them less trustworthy to some people. Hybrid blockchains could also be used for keeping a part of the game public; this could add a new revenue stream, users, and much more to your game...Read More
