eSports is a billion-dollar market that has been gaining ground in the past years. And the COVID-19 pandemic has contributed greatly to its growth as people around the world staying at home choose it as alternative competitive entertainment made more exciting with the chance to win real money through its many betting platforms.
The massive increase in eSports gamers and users have necessitated companies to look for new technology that can meet the demands of the industry. And this is where eSports on blockchain comes in, as it allows firms to deliver next-generation products and services through its many capabilities. However, not all blockchains have the qualities that can meet the needs of large industries such as eSports. FYX Gaming, an innovative eSports infrastructure and technology provider popular for its combat game Cryptofights, learned this the hard way.
“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 is only submitting the results to the Ethereum blockchain. With Bitcoin SV (BSV), we wouldn’t have to do that,” FYX Gaming CEO Adam Kling said about their decision to move from Ethereum to the Bitcoin SV blockchain.
So what makes the Bitcoin SV blockchain the perfect fit for eSports?
An Infinitely Scalable Network
The reason why FYX moved after originally choosing Ethereum is primarily because the Bitcoin SV blockchain is infinitely scalable, as evidenced by its most recent record-breaking 16.4 million transactions in one block. Simply put, the Bitcoin SV blockchain can easily handle the big data being generated by eSports on a daily basis. It also provides micropayments, an essential to eSports as it deals with various amounts of real-world money. As the network continues to scale, nanotransactions will be available soon through the Teranode project.
A Stable Protocol
Just like the Internet protocol, which opened up a new era of technology and made it possible for everything to be online, the Bitcoin SV blockchain also has a set-in-stone protocol which is more stable than ever. In the future, everything will be on-chain. With this kind of rock-solid foundation, developers need not worry about adjusting their back-end systems to adjust to a protocol that changes every now and then, which is both time-consuming and costly. Companies like FYX can focus on creating more cutting-edge products to meet the market’s demands.
An Immutable and Public Distributed Data Ledger
When it comes to eSports, it is important for game integrity to be preserved. All in-game actions are immutably and chronologically recorded on the Bitcoin SV blockchain, which is both public and distributed. This means that users can view and verify transactions, as well as spot game cheaters.
“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 during last year’s CoinGeek conference.
These are just three of the many reasons as to why the Bitcoin SV blockchain is the future of rapidly growing industries, such as eSports.