BTC/USD 6445.69$ETH/USD 302.6$DASH/USD 161.12$LTC/USD 58.15$XMR/USD 97.45$ZEC/USD 143.7$
BTC/USD 6445.69$ETH/USD 302.6$DASH/USD 161.12$LTC/USD 58.15$XMR/USD 97.45$ZEC/USD 143.7$
Bitcoin and Ethereum based games: Pluses and Minuses

Bitcoin and Ethereum based games: Pluses and Minuses

Bitcoin and Ethereum based games: Pluses and Minuses 01.05.2018

Playing games is the most entertaining activity for children and adults alike. Ever since the internet revolution started, there have been games that are played online just for fun. There are various kinds of games where there is no money involved, but just play for entertainment alone. After sometime people started playing for money where you gain or lose money playing some games with another party.  Things started to get more serious when there is money involved as people would want to keep the platform more secure for money transactions. The money was transferred through credit/debit cards, online transactions or later on through different online wallets. Safety and security of online money transfer were always a matter of concern and then came the era of digital money, what is called as cryptocurrencies. Bitcoins are the first to come to market which was utilised by many platforms including gaming platforms for conducting money exchanges. There are many bitcoin based games in the market such as Cryptocoin drop, Spark Profit, Bitjoy games, SaruTobi and Bitcoin billionaire and so on. All of these games give you an opportunity to earn bitcoins by winning the game. Similarly, Ethereum based games also started coming into the market with the assurance of more privacy and security.    Cryptokitties, EtherWarfare, Cryptocelebrities and Spells of Genesis are some of the popular games which are based on Ethereum technology.

Bitcoins are like digital currency which can be used for purchases and Ethereum is another cryptocurrency and what makes it different than Bitcoin is that where Bitcoin is nothing more than currency, Ethereum is based on ledger technology.  Both of them works on blockchain technology, but Ethereum is found to more robust.

Both the currencies give the freedom to send and receive money to and from anywhere in the world. It gives you the complete control of money without any involvement of middleman. You have the complete ownership of your own money. There are no hidden transaction fees and service charges involved making it a completely transparent system.

The main issues of these currencies are the lack of awareness the people have about them, making them hesitant to start using them.  As the demand is low for such currencies, supply is also limited. The volatility of these currencies also poses a small amount of risk, even though the more popular it becomes, the risk also goes down.  These currencies are still developing and there is a long way to go for them to become as popular as physical currency. Online gaming industry open up the potential for cryptocurrency and blockchain technology to be available to a wider audience. They also create a new demand and marketplace for cryptocurrency tokens which results in an increased commerce of blockchain.