One out of every three human beings play video games these days. They share an incredible passion for these entertainment forms. But the question is what has cryptocurrencies got to do with it? Bitcoin has been a game changer in the gaming industry. Gaming cryptocurrencies are the latest feature added to the gaming industry. They are generally based on fork of Bitcoin. It not only helps gamers to reach higher levels with better ingredients but also helps developers to earn their fair share of profit. Various platforms have been developed to share currency. For instance, GameCredits provides an SDK for the Microsoft created Unity engine.
There are various competitors in the field of gaming cryptocurrencies. GameCredits, DigiByte, Enjin Coin, MobileGo, Dmarket, Oren, UniKoin Gold are among the few market leaders. The only setback to cryptocurrencies is that in order to make the payment, users need to access the website and might have to leave the gaming window.
Block Chain is basically set of records that are secured and being linked using cryptography. So, the money you add to your account using bitcoin or any other gaming currency, is linked to the blockchain. What happens is when you make a transaction to someone’s account, a private key and a public key is generated. The private key is accessible by you only and the public key is visible to all. You share the public key openly and the person you are sending the currency to uses the public key to securely complete the transaction. Not everyone can transact the amount in their accounts because of the private key.
Cryptocurrency provides secure transactions to its users. Major companies have centralized systems, adding up to minimum risk factor. Still some fraudulent websites are offering similar services and stealing money from people. Do not fall trap into it. Do your research work.