A much touted phrase and cliche, cryptocurrency is that digital asset which is a medium of exchange of value based on cryptography,with financial and technological use cases. It is controlled decentrally via mechanisms like mastenodes etc. Satoshi Nakamoto, in 2009 is touted as the pioneer of the very first cryptocurrency, with his creation of Bitcoin, the alpha crypto. His white paper on Bitcoin was in late 2008 called “Bitcoin: A Peer-to-Peer Electronic Cash System.”
The history of digital money didn't always start with Satoshi Nakamoto. In 1983,Ecash, an electronic currency of cryptographic origin was created by David Chaum, then later Ecash metamorphosed to Digicash, which required encrypted keys (just like crypto) for transactions, thus its untraceable by any third party. The US National Security Agency, NSA had a look-in into cryptocurrency, circa 1996, with the paper, "How to Make a Mint: the Cryptography of Anonymous Electronic Cash", but the project fizzled out. Other itineraries like Wei Dai and Nick Szabo rolled out b-money and bit gold respectively, both which are cryptography-based digital solutions.
The entertainment industry is one of the most burgeoning spheres of human endeavor. It's main components include the movie, music and gaming industries. Each can be interlinked with another. However the gaming industry is bigger than the movie and music industries put together. According to Forbes, the gaming industry is a multi-billion dollar niche of the entertainment industry worth about $140 billion, and it is actively entrenched in the research, development and marketing of games, and made up of many disciplines and its component parts have a worldwide workforce.
It all began around 1940, with the game Nim, developed by Edward Condon, then a Chess program by Claude Shannon around 1950. Then in 1960, Stage was developed by the US Defense Department. Mention must be made of Ralph Baer who made the 'Brown Box', the first commercial gaming console. Then came Atari with console gaming and the so-called Gaming Crash of '83/'84. Then arrives the roll out of gaming conglomerates like Activision, then Electronic Arts, Nintendo etc. With gaming getting more lucrative, conceptualized and complex, the introduction of big multi corporations into the gaming fray like Sony and Microsoft with Playstation and XBox franchises, respectively in the mid '90s. The mobile tech and PC growth, and craze of cloud computing did not hurt the evolution of the gaming industry.
THE HISTORY OF THE CRYPTO GAMING INDUSTRY
Gaming as an industry has always been a major attraction as outlined above. To secure and strengthen the industry, Blockchain and ultimately cryptocurrency is needed, and have merged successfully with it. Sub-genres of gaming like online games have always been a source of money for gamers. Games like Rummy, Poker, have helped in earning money while playing these games. In the current day, the trend of playing games on online casinos are ubiquitous and many play for cryptocurrencies, most especially bitcoin. Many of the current online games now have a form of in-game currency that players can earn, buy and spend. These currencies are typically bought within the game with fiat via payment platforms like Interswitch Webpay, PayU, Flutterwave, Paystack etc or Gift cards. These games are usually downloaded free with in-game currencies promoted within the gameplay so players buy up the gears needed for upgrades.
The first crypto gaming player was Decentraland, in August 2017, which builds a virtual community, much so like the successful SIM city, then along came Enjin which creates a suite of blockchain products that enable anyone to build, manage, distribute, and integrate blockchain assets. Others like Wax, Crycash, GTCoin, GameCredits etc made their entries.
ENTER THE BLOCKBURN
Actually Blockburn has been around for awhile. It's an innovative gaming network made for both gamers and gamblers and powered with the Ethereum based, deflationary token BURN token. With the BURN token, gamers/gamblers can bet their BURN tokens in multi-player games. They can also buy into the regular BlockBurn lottery for a chance to win the jackpot!
MISSION
BLOCKBURN aims to provide an enabling and memorable gaming and gambling experience, with an unwavering focus on very smart navigation, absorbing gameplay, with buttery smooth graphics and animations and,of course,immersive sound effects
MECHANISM
With the Blockburn tokens, gamers could customize their characters with different upgrade materials.
IEO
BlockBurn’s IEO is currently on ChainX Exchange where it commenced on the 17th of February. It successfully sold out in 5 mins in their 1st round of IEO, with second round starting 20th of February 2020.
Blockburn is listed on ChainX Exchange, Hotbit, Cointiger, Lbank exchanges but is paused due to the IEO. Trading of tokens will resume on all previously listed exchanges after IEO is done.
PROLOGUE
It’s hard to say where the future of gaming would end up but generally the world is still adjusting to cryptocurrencies, but it is here to stay.
And so is Blockburn!
BLOCKBURN RESOURCES
About the Author
Bitcointalk Username: Redkop
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2743818