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Blockchain Games: Huge Potential for Drastic Changes

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The same way startups try out new tech, games often can be seen testing out new innovations. When it comes to blockchain games, the first game that comes to mind is CryptoKitties. The game is essentially a digital cat-breeder game on ethereum. Blockchain games have also allowed early adopters to experiment with the benefits of open protocols. Even at the moment, the top dApps by transaction volume are games.

There is of course a big amount of skepticism when it comes to the blockchain gaming space. One of the biggest and heated discussions, came after Tony Sheng explained why Fortnite would not embrace blockchain in the near future.

The post inevitably drove the discussion towards how blockchain tech fundamentally recreates economies in the gaming world. He underlines the fact that true digital scarcity breaks currently-existing business models and that’s probably why the gaming industry won’t rush to use blockchain. In general, most people will agree with his statement that:

“If games manage to bring crypto to the masses, they will have entirely different business models.”

2017’s incredible success made it very difficult to differ signal from noise in the blockchain games sector. The incredible bull run allowed many ether-wealthy early adopters to be able to engage in early dApps. CryptoKitties was the first blockchain-gaming experience for the masses. People actually “owned” the cats that that made the whole concept very exciting for the community. At the peak, some cats managed to sell for thousands of dollars.

Blockchain games under the microscope

This is why we need to take a closer look at CryptoKitties. At the time of creation, there was almost no gaming infrastructure on ethereum. CryptoKitties literally build everything themselves, from the website, to the artwork, cat-breeding function and their market. At release, the business model was simple and when they sold a 0 generation cat, they banked 3.75% of the cut every single time a new kitty was sold or sired.

Many experts argued that the game could have been built on a centralized infrastructure. User experience could have been exactly the same and kitties could have been stored in a SQL database. Mainstream users however, found the games incredibly hard to use and with good reason. Everything was simply too hard and complex, including KittyHats, a set of ERC20 tokens which allowed users to customize their cats.

Cat value was driven higher because it was simply another thing you can do with them. The impact however, was distorted because of how hard it was to use. You had to download a chrome extension and do the accessories on a whole different website. If CryptoKitties embraced KittyHats and showed the accessories on the main website, the business model could have been changed a bit.

Maybe the lesson we could take from CryptoKitties is that at the moment, technology simply cannot provide a reliable way for crypto to be integrated into mainstream gaming. Blockchain games are currently relying mainly on software innovation which tends to evolve a lot quicker than hardware. This is why small tinkerers will most likely keep experimenting and next year, we might finally see some developments that will push the space forward.

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The post Blockchain Games: Huge Potential for Drastic Changes appeared first on CoinStaker | Bitcoin News.

Source: https://www.coinstaker.com/blockchain-games-huge-potential/

Blockchain

Kraken Daily Market Report for September 24 2020

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Overview


  • Total trading volume at $237.5 million, as Bitcoin and other coins correct for yesterday’s losses and trended positively all day.
  • Very good returns across the board. LINK +29%, SNX +25%, and BAL +18%. Several cryptos had over 10% returns, and only DAI (a stable coin) posted margin losses.
  • Trading volume surged around 05:00, 10:00 and 15:00 UTC; however, none of these surges occurred around major price swings.

September 24, 2020 
 $237.5M traded across all markets today
 Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD 
XBT 
$10731. 
↑4.9% 
$113.9M
ETH 
$348.95 
↑8.9% 
$49.9M
USDT 
$1.0001 
↑0.07% 
$24.0M
LINK 
$9.8494 
↑29% 
$23.4M
DOT 
$4.3905 
↑9.4% 
$5.66M
XRP 
$0.2328 
↑5.2% 
$4.3M
USDC 
$1.0001 
↑0.0% 
$3.59M
XTZ 
$2.1528 
↑10% 
$3.17M
LTC 
$44.929 
↑4.6% 
$1.95M
BCH 
$216.25 
↑4.1% 
$1.55M
OXT 
$0.3025 
↑15% 
$1.16M
ETC 
$5.7974 
↑0.9% 
$1.16M
ADA 
$0.0826 
↑7.8% 
$1.1M
XMR 
$91.977 
↑5.6% 
$1.09M
SNX 
$4.625 
↑25% 
$1.08M
OMG 
$3.1119 
↑13% 
$975K
ATOM 
$4.4801 
↑17% 
$889K
EOS 
$2.5345 
↑3.9% 
$704K
ALGO 
$0.2943 
↑9.4% 
$700K
DAI 
$1.0110 
↓0.02% 
$648K
KAVA 
$1.9908 
↑4.5% 
$647K
TRX 
$0.0262 
↑5.8% 
$537K
PAXG 
$1879.1 
↑1.0% 
$515K
XLM 
$0.0704 
↑4.5% 
$459K
WAVES 
$2.3659 
↑9.1% 
$380K
ZEC 
$55.184 
↑6.5% 
$368K
MLN 
$32.272 
↑15% 
$327K
COMP 
$138.60 
↑8.9% 
$327K
XDG 
$0.0026 
↑3.3% 
$270K
REP 
$14.323 
↑10% 
$263K
ICX 
$0.4135 
↑12% 
$236K
BAT 
$0.2260 
↑6.1% 
$235K
QTUM 
$2.3184 
↑6.7% 
$209K
KNC 
$0.9387 
↑9.3% 
$186K
KSM 
$36.864 
↑11% 
$161K
SC 
$0.0026 
↑6.0% 
$148K
GNO 
$41.569 
↑9.0% 
$147K
DASH 
$67.884 
↑4.8% 
$140K
NANO 
$0.7512 
↑11% 
$127K
CRV 
$0.9915 
↑12% 
$124K
LSK 
$1.2075 
↑7.3% 
$84.0K
BAL 
$15.420 
↑18% 
$70.9K
STORJ 
$0.3379 
↑11% 
$58.2K
REPV2 
$14.349 
↑13% 
$42.0K



#####################. Trading Volume by Asset. ##########################################

Trading Volume by Asset


The figures below break down the trading volume of the largest, mid-size, and smallest assets. Cryptos are in purple, fiats are in blue. For each asset, the chart contains the daily trading volume in USD, and the percentage of the total trading volume. The percentages for fiats and cryptos are treated separately, so that they both add up to 100%.

Figure 1: Largest trading assets: trading volume (measured in USD) and its percentage of the total trading volume (September 24 2020)



Figure 2: Mid-size trading assets: (measured in USD) (September 24 2020)



Figure 3: Smallest trading assets: (measured in USD) (September 24 2020)



#####################. Spread %. ##########################################

Spread %


Spread percentage is the width of the bid/ask spread divided by the bid/ask midpoint. The values are generated by taking the median spread percentage over each minute, then the average of the medians over the day.

Figure 4: Average spread % by pair (September 24 2020)



.


#########. Returns and Volume ############################################

Returns and Volume


Figure 5: Returns of the four highest volume pairs (September 24 2020)


Figure 6: Volume of the major currencies and an average line that fits the data to a sinusoidal curve to show the daily volume highs and lows (September 24 2020)



###########. Daily Returns. #################################################

Daily Returns %


Figure 7: Returns over USD and XBT. Relative volume and return size is indicated by the size of the font. (September 24 2020)



###########. Disclaimer #################################################

The values generated in this report are from public market data distributed from Kraken WebSockets api. The total volumes and returns are calculated over the reporting day using UTC time.

Source: https://blog.kraken.com/post/6433/kraken-daily-market-report-for-september-24-2020/

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Blockchain

New Zealand Digital Asset Exchange Dasset Adds Bitcoin SV Support

The exchange has added support and two new trading pairs for Bitcoin SV.

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New Zealand digital asset exchange, Dasset, recently announced that it has officially introduced support for Bitcoin SV (BSV) on its trading platform, with the BSV/NZD and BSV/BTC trading pairs now listed and available for use on the exchange.

According to a statement from the exchange on Thursday, Dasset has decided to launch the two new trading pairs, including a fiat currency trading pair for BSV, following the continued growing interest in Bitcoin SV.

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The SV in Bitcoin SV stands for Satoshi Vision, with the virtual currency marketing itself as the “original Bitcoin” which stays true to the goals of pseudonymous founder Satoshi Nakamoto. The crypto was born following Bitcoin Cash suffering a hard fork in 2018.

The main aim of the virtual currency is to deliver stability and achieve scalability. According to the project’s website, “Bitcoin SV is intended to provide a clear choice for miners and allow businesses to build applications and websites on it reliably.”

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Jimmy Nguyen, President of the Bitcoin Association
Jimmy Nguyen, President of the Bitcoin Association and BitcoinSV advocate.

Commenting on the changes at Dasset, Jimmy Nguyen, Founding President of Bitcoin Association said in the statement: “A key element in ensuring that the Bitcoin SV growth story continues across the globe is making the process of onboarding new users a fast and simple process. 

“With the introduction of a new fiat on-ramp to buy and sell BSV at Dasset, that process just got easier for people across New Zealand and Australia, who now have another reputable, lawfully-registered service provider to use as an onboarding option into the Bitcoin SV ecosystem.”

Dasset launched BSV to give users choice

Founded in 2017, Dasset is a digital asset trading platform serving retail, professional and institutional customers in New Zealand and Australia. The company is registered as a Financial Service Provider in New Zealand, however, it’s not regulated by the Financial Markets Authority (FMA) as the country does not yet have specific crypto legislation.

CEO of Dasset Stephen Macaskill
CEO of Dasset Stephen Macaskill
Source: LinkedIn

“Cryptocurrency has always been a battle of ideas,” added the CEO of Dasset Stephen Macaskill in the statement. “We recently listed Bitcoin SV to give customers the opportunity to discover, and ultimately decide, which crypto assets will best serve their digital future.”

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Chainlink up 30% following six-week downtrend and developer selloff

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Following a six week downtrend from its all-time high, LINK has rebounded 30% in the past 24 hours after a reported developer selloff resulted in downward pressure on the oracle protocol token’s price.

The strong rebound in the Bitcoin price, a sea of green among DeFi coins and a new Chainlink partnership announcement have all contributed to the price increase.

Chainlink’s native token had fallen over 60% from its peak of $20 mid-August, bottoming out at crucial support levels around $7.50 on Thursday, September 24. The six week downtrend appears to have been been accelerated by multiple sales of large chunks of LINK from what UK crypto publication Trustnodes reports is the dev address.

This ‘dev address’ has been selling batches of 500,000 tokens, worth approximately $4.8 million per batch at current prices, regularly over the past six months. The frequency of sell-offs increased after LINK hit its all-time high last month. The address shows several outflows to a Binance address but then the trail goes cold.

There are around 26 million tokens remaining in this address, worth an estimated $258 million at current prices.

Image – Etherscan.io

Since its peak, LINK market capitalization has declined from more than $7 billion to around $3 billion currently, however it remains one of the best performing crypto assets this year surging over 1000% from January 1st to its all-time high. At current prices, it is still up 450% since New Year’s day.

The selloff has dropped prices back to a crucial support level and the ‘Link Marines’ appear to have chosen this point to load up again. The $7 to $8 price zone was where LINK held in July before its epic run up to $20. A return to that level this week has catalyzed buying pressure as traders eyed a long overdue bounce yesterday.

That bullish momentum mounted resulting in a surge of 30% in less than 24 hours as LINK prices topped out at $10 a few hours ago. Since then, prices have retreated a little and are currently hovering around $9.80.

Chart – Tradingview.com

The price bump came hours after Chainlink announced a partnership with travel company Travala.com. LINK has been integrated as a payment method on the crypto friendly hotel booking platform and token holders can book accommodation in over 2.2 million hotels and homes in 230 countries.

Bitcoin’s momentum may have also had an effect. The king of crypto is well known for its capacity to move the rest of the market and it too bounced off support at $10,250 with a gain of 5% in push to $10,750 over the past 24 hours.

Source: https://cointelegraph.com/news/chainlink-up-30-following-six-week-downtrend-and-developer-selloff

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