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Need for Decentralized Gaming
Centralized VS Decentralized Gaming
According to Experts, the GameFi sector is currently valued at $55.38 billion US Dollars and is growing ten times faster than the traditional gaming sector due to its manifold benefits (Crypto.com, 2022). For instance, centralized gaming environments have always been susceptible to insider tampering, but that is not the case when blockchain technology is deployed.
The key differentiator is the manner in which the two ecosystems operate — while centralized require human intervention, the blockchain-based games make use of smart contracts that auto-execute. So, when certain predefined conditions in the code are met, a certain action is triggered automatically.
Furthermore, the use of blockchain technology ensures a very high level of transparency because all the transactions are recorded on a decentralized public ledger that is always available for scrutiny. Yet another benefit of using this technology is the elimination of gaming frauds which can range from financial frauds to rigged casinos and everything in between.
As a result, it overcomes the downsides of centralized gaming and paves the way for innovative revenue streams. For instance, the assets created on the Space Guild platform can be sold or staked to generate revenues. This can be done within or outside the platform and this interoperability accorded by the blockchain technology makes it a profitable proposition for the gaming community.
In this whitepaper, we shall elaborately discuss how the Space Guild project is structured to create a decentralized microeconomy powered by digital collectibles, the platform’s growth strategy, and the key differentiators that position it for success. The goal is to provide the reader with useful insights about this platform and its growth potential.
Last modified 1yr ago