Jared Psigoda, CEO of BitGuild, and Becky Liggero of CalvinAyre.com discussed how blockchain can disrupt the gaming industry.

Jared Psigoda, who has been engaged in game currency trading since 1999, has a very clear idea about the applicability of virtual currency inside and outside the game world.

He said: "No matter what chain it is, one of the biggest problems we currently face is transaction time. Bitcoin Cash (BCH) can solve this problem well through its huge block size." He pointed out that BCH is 32MB. How does the block size allow more transactions than BTC? The 1MB block of BTC is not offset by Segated Witness, which puts some transaction data outside the block. The same limitation also exists in Ethereum, the public platform for gaming applications, where transaction costs have risen to unprecedented levels.

How does blockchain disrupt the gaming industry?

Psigoda said: "Now on Ethereum, it will cost you $2 for "gas" to buy something for 1 dollar, and you have to wait 10 to 15 minutes before you can buy the real thing." "The people on Ethereum say they Basically they are token operating systems, but they are operating systems without applications." He said that it is a race to solve the problem of transaction time and cost. "Developers will flock to any blockchain that can do this. At present, nChain, a leading blockchain development and research institution, is already looking for ways to allow the migration of ERC-20 tokens based on Ethereum to BCH.

With the decline of the cryptocurrency market at the beginning of this year, it is necessary to propose practical solutions through blockchain.

According to Psigoda, “The gaming industry is a market of more than 100 billion US dollars per year. It has many young people who are proficient in technology. They are fast learners and game designers. They are good at creating experiences for new users. These users almost There is no friction, they can try something new. So I think games will bring more people to this industry if we can create these interesting and user-attracting blockchain games."

Psigoda pointed out that the initial game product (IGO) is having an impact, allowing people from all over the world to participate in the development of the game.

"For a company like ours, we want to go out, we want to raise tens of millions of dollars, hire a great legal team, great accountants, etc.. But for many small companies in our industry, in the gaming industry , There are about five to ten people located in South America, Asia, Europe or anywhere else, so this allows developers to quickly raise $50, $100 or even $200,000 by selling items. It introduces the player community into the development , Because they have implanted the skin into the game. If the game is successful, they can transfer the items they bought back to the original place and sell them to other players who did not participate in the original game." He said.

He said that the concept of item ownership stimulated the creation of BitGuild. The terms of service of traditional games prohibit people from owning items in the game. "For whatever reason, the game company can decide not to like you, and they can close your account. They can eliminate all the things you try to get in the game, and you can't do anything about it." Psigoda said, but in blockchain games In, the accumulated items are tokenized, can be exchanged for cryptocurrency, and can be used in the real world.

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