Many industries have suffered greatly due to COVID-19. However, there are also those that have gained a lot due to the many restrictions imposed by the coronavirus pandemic. As many on-site businesses have been closed and people are encouraged to stay at home, the iGaming industry has seen a positive surge in users. This not only calls for better technology, but also a bigger and more efficient way of handling the massive amount of data being generated.
And this is why eSports on blockchain is being reinforced, and two leading eSports companies have agreed to collaborate to meet the increasing demands of the iGaming industry. ESports infrastructure and technology provider FYX Gaming based in Raleigh, South Carolina, has announced last February its official collaboration with Unikrn, one of the leading eSports betting operators, in order to deliver more hi-tech iGaming products and services.
One of the first proposals produced by this collaboration is the incorporation of CryptoFights to Unikrn Virtual, which is Unikrn’s trademark feature that allows for a constant flow of content, as well as live betting markets and the creation of additional streams and gambling markets.
“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,” FYX Gaming CEO Adam Kling said.
ESports on Blockchain
In order to make all these technological upgrades and gaming additions possible, FYX Gaming is banking on the powerful capabilities of the Bitcoin SV blockchain to create competitive and realistic eSports events that include cash matches and tournaments.
FYX Gaming relies on blockchain technology In order to preserve game integrity, as well as provide users with security in putting their money in the games. The Bitcoin SV blockchain is infinitely scalable and can accommodate the high volume of data that can be expected from the surge in users, as well as the data needed to create a more realistic eSports environment. The Bitcoin SV test network recently broke a new record with 16.4M transactions in a block.
ESports on blockchain also assures users that their money and personal information are safe from hackers due to professional-grade security because blockchain is decentralized in that there is no one administrator who is in control of the network and data is distributed among all the nodes within the network. A centralized network like PayPal will lose all its data and make users suffer great losses once its network is completely hacked, while with blockchain, even if one node or miner gets hacked and all data is deleted or hijacked, it would not matter in the grand scheme of things as there are still hundreds of other nodes that carry the same set of information because all transactions and events are recorded immutably and chronologically on all nodes.
“FYX is going to change the way that eSports are played, letting anyone compete in real money matches from home and democratizing the world of competitive gaming. FYX represents the next evolution in the eSports landscape, creating new revenue streams for developers, while facilitating a whole new level of competition for players—all on a platform designed with game integrity as its core offering,” Kling said during the announcement.
Learn more about eSports on blockchain at the next CoinGeek Conference, which will be broadcasted live from Zurich.
