User:Lendawg2303/sandbox

Video games

There are multiple different ways that block chain can be applied to video games. For example this technology can be used to create a in game currency that allows users to buy certain in game items. When a player wins various rounds, stages, levels and competitions, they are rewarded with coins, gems and other shiny collectibles that signify their ‘level of worth’ in any given game -- and blockchain could be used to manage this backbone function.

A blockchain game CryptoKitties, launched in November 2017. The game made headlines in December 2017 when a cryptokitty character - an in-game virtual pet - was sold for more than US$100,000. CryptoKitties illustrated scalability problems for games on Ethereum when it created significant congestion on the Ethereum network with about 30% of all Ethereum transactions being for the game.

CryptoKitties also demonstrated how blockchains can be used to catalog game assets (digital assets).

Ubisoft is also trying to experiment with Blockchain and within their games. Hash is one of these game that uses blockhcain to give other player access to the world that they designed. "When your island goes public, you are able to share it with the others in Hash’s community. Since it’s on the blockchain, the game is decentralized and effectively belongs to the very players exploring and crafting in its environment." This "decentralization of the game and digital assets allows players unbridled freedom in which creativity is rewarded and the only limit is truly your imagination" and will truly change the way games are made.

Why Blockchain should be used?

Block chain is exciting and new way of collecting and analyzing big data. What makes it so special is that everything is not stored in one exact location, it's spread across multiple different computers and is decentralized. Due to its decentralized characteristic it makes "every transaction on blockchain is permanent, public, and protected." This is much more Secure and reliable compared to other ways of collecting data. Studies have shown that blockchain is a "Critical Top Five Priority for 53% of enterprises." As we move farther and tech keeps on evolving Blockchain will play a much bigger role that it is right now. Due to its tremendous benefits of being secure and protected from any security threats and everything that happens on the blockchain is saved forever.

LeewayHertz is a company that provides "end to end Block chain development and block chain consulting services to multiple different businesses." they provide customized solutions for every feature our block chain technology. Some of their clients have been Tezos,EOS, Hyperledger, Etherum. They have even helped develop a face mask detective system which has been used during this pandemic. Another tap block chain company is Consensys. They developing enterprise block chain applications and developer tools which are secure and effective. They offer multiple different in person and online Blockchain classes. Wow in addition investing a lot of money into up-and-coming start ups.

Diagram of how Blockchain works:

Images - https://www.slalom.com/sites/default/files/inline-images/blockchain-diagram-2-100.jpg

Advantages and Disadvantages

Advantaged

Distributed

No one central store place, distributed across network of nodes. This means they are very resistant to any technical failure or malicious attack. Ever node has a copy of the whole entire database so if one goes down its does not affect the security of the network.

Stability

Cannot reversed a confirmed block, which means once data is registered to the blockchain, it difficult to remove or change. This make this technology very valuable when it comes to financial records because everything is tracked and permanently record.

Trust-less System

The distributed netowkr of nodes verify the transaction though process known as mining. The system negates the risk of trusting a single organization an also reduces the overall cost and transaction fees by cutting out intermediaries and third parties.

Disadvantages

51% Attacked

This is one of the only attacks that can disturb and attack the Blockchain. it happen when one entity manages to control more then 50% of the network hashing power.. This give the user the ability to disrupt the network bu intentionally excluding or modifying the order of transactions.

This attack has never been successful on the Bitcoin network.

Data modification

Stability is one good thing but its not always good. Changing data on the blockchain is really demanding and require a lot of work in order to make a change.

Private Keys

Every block get two keys one Public and Private. Private key should be kept secret and projected if users loses their private key, the money on the chain is lost ad there nothing to do.

Storage

Bloch chain size appears to be outstripping the growth in hard-drives and the network of losing nodes if ledger become massive.