Esports is a billion-dollar market that has grown tremendously over the past few years. The coronavirus pandemic has only led to its further growth as the global edict of staying at home has driven a massive amount of gamers and users to esports. And this is why two industry leaders have teamed up to streamline and deliver the next-generation gaming experience.
On March 10, 2021, FYX Gaming, a pioneer in building esports on blockchain and an infrastructure and technology provider under Kronoverse as well as esports betting platform Unikrn, has announced their partnership. It’s a huge step in creating next-generation iGaming products and services.
“Today’s agreement between FYX and Unikrn is a huge first step towards shifting the business and monetization models that underpin the gaming industry. The partnership immediately creates an all-new revenue stream for game developers, with the foundation laid for future games on FYX to follow the CryptoFights template and integrate with Unikrn—another unique feature enabled through our innovative blockchain-based esports platform,” FYX CEO Adam Kling said during the official announcement of the partnership.
The collaboration yields the inclusion of FYX Gaming’s trademark combat and strategy game Cryptofights on Unikrn Virtual, a platform that is popular for its live-streaming content and wagering feature. This provides Unikrn Virtual access to Cryptofight’s in-game data in real time, which allows for this data to be used as a foundation for the creation of new streams and betting markets.
Why Esports on Blockchain is Leading the Pack
The massive growth of esports have inevitably generated big data and there is an issue as to how this can be accommodated by regular servers. And this is how esports on blockchain started for Kronoverse. At first, they built on the Ethereum (ETH) blockchain, but even the ETH blockchain could not handle big data and micropayments as it is not scalable. And so, they moved to the Bitcoin SV blockchain.
“When I looked at the scaling roadmap of Ethereum, it became clear that we were never going to be able to have a million players playing on Kronoverse. Instead, everyone is having to develop layer-two technologies and are only submitting the results to the Ethereum blockchain. With Bitcoin SV, we wouldn’t have to do that,” Kling said.
The Bitcoin SV (BSV) blockchain is infinitely scalable and it continues to scale as evidenced by its test network’s most recent record-breaking 16.4 million transactions in a single block. Aside from this, the BSV network can address game transparency, integrity and security issues. All in-game actions can now be recorded immutably and chronologically on the BSV blockchain, and data is both public and distributed. This means that aside all transactions are easily verifiable, which would prevent cheating and provide security to real-money deals as is the case in gaming and betting platforms.
“We don’t want to be in the arms race of trying to detect everyone, but we want to open up the data so that the community can actually look for these cheaters…. Now, we’re going to create an audit trail of every move they make inside the game, so you know who they are and everything that they’ve done. So if they ever mess up and start cheating, it’s going to be permanently logged,” Kling explained last year during a CoinGeek conference.
It can then be said that esports on blockchain is the perfect combination that opens up many more technological upgrades and additional features that will only serve to improve the entire gaming scene.