The Future of Cryptocurrency in Gaming

Imagine you are playing Destiny 2. You are having a great game, smashing a bunch of bad guys, and earning a decent volume of glimmer. For anyone who does not know, glimmer is one of the virtual currencies available in Destiny 2. Legendary Shards are another form of currency, and together you can use them to buy items in the game. But what if you could do more? What if after destroying some exotic equipment for some shards, you turned around and used those shards to order a pizza? This is a future many see for the world of online gaming, and it all starts with cryptocurrency.

Cryptocurrency is the newest sensation. When Bitcoin decentralized, many were surprised by its success. The idea that digital assets could actually be exchanged for literal assets was a pipedream, but then it actually happened and that pipedream became possibility. But where exactly can this possibility go? For gaming companies this opens a few doors. Hundreds of games use digital currency for purchases. Although many can be gained through play, most of the good stuff can only be gained through actual purchase. The introduction of cryptocurrency could give gamers the ability to cash out their winnings. In this way, gamers could actually see a return in their investment of time in a game. There are already of few games that award tiny bitcoins to players. Cryptocurrency could also allow for transfer of funds across games. Money earned in Destiny for instance can be money spent in Battlefront II. Unfortunately, many pitfalls are involved, such as gaming companies being uncomfortable with their products becoming akin to slot machines. At present, there are no plans for any major games using cryptocurrency. However, the interest is still there. Even if gaming companies’ fear a lack of return should they invest in cryptocurrency, the idea of using it within a game debates.Your text to link…

Both financial and gaming aficionados vouch that all cryptocurrency needs to become viable in the gaming world is one hit game. One successful example of cryptocurrency in gaming that shows companies there is profit to be made. After that, it is a domino effect and soon everyone will take part in the market. Until then, we just have to wait.

Ted Bauman Discussing the Important Bitcoin Issue


Ted Bauman, an editor of Banyan Hill Publishing, recently gave an article to analystoffinance.com, concerning an important issue with Bitcoin which can cause it to be extinct in a few years if the issue is not resolved. He talked about how it takes a long period of time to do a business transaction with bitcoins which could be very frustrating for users. With it taking so long to process, users may decide to opt-out from using bitcoins. On the hand, it only takes a few minutes for users to use credit cards for business transactions.

Approximately 1700 Visa credit card transactions are done per second. But with bitcoins, only around 6.5 transactions are done per second. Bitcoin is a cryptocurrency. It only exists in the world computers, and thus, there is no centralized network. Also, the computerized process goes through a process referred to mining which could take 20 minutes and more to complete. There was one incident of a transaction taking up to 42 minutes to complete.

He did mention, however, some solutions to this bitcoin problem. Decreasing the data amount, for instance, will be one way to eliminate the time to process transactions. Secondly, the industry increasing data blocks will help also. There are some groups who use the “segregated witness” technique which reduces the data by moving part of the data to a location where no verification is needed. However, some users are wary of this technology. Another technique used is called the “hard fork” where the previous transactions’ chain, called the “blockchain“, is used. And as a result, an increase of eight megabytes in the block size speeds up the process of verifying. This technology is now known as “bitcoin cash”, and it is increasing in popularity and worth.

About Ted Bauman

Ted Bauman has been with Banyan Hill Publishing since 2013. He specializes in asset protection, low-risk investment strategies, international migration issues, and privacy. He resides in Atlanta, Georgia with his family.

Bauman earned his postgraduate degree in Economics and History from the University of Cape Town in South Africa. While being in South Africa for two and a half decades, he served in various executive roles for nonprofits. His primary role was a fund manager for low-cost housing projects. In the 2000s, Bauman worked in researching, consulting, and writing in housing, urban planning, and finance for clients of the World Bank, the United Nations, Europe, and the South African government grant-making organizations. In 2008, he moved back to the US to serve as the Director of International Housing Programs for Habitat for Humanity International. He held that position until 2013 at which time he became a full-time writer and researcher.

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