Blockchain and eSports
Blockchain is a revolutionary technology of the 21st century that has changed a number of conservative industries.
Fundamental changes have affected areas such as banking, financial operations, insurance, supply chains, logistics, cybersecurity, identity and the gaming industry, including esports. Despite the fact that esports is at least 30 years older than blockchain technology, they complemented each other very well, so much so that it is difficult to imagine them separately.
In the generally accepted understanding, Blockchain is a digital ledger of transactions associated with cryptocurrencies, recorded, copied and distributed between computers on the network or on any interconnected information blocks. Each block in the chain is associated with certain information or some transactions. As a block is added, information is sent to all registers of network participants.
Unlike centralized structures seeking to control and manage all processes. Distributed ledger technology (DLT) and blockchain technology provide the absence of a single supervisory authority and decentralize the entire process. Blockchain, a kind of ledger in which it is impossible to change data or manipulate results, which can also be tracked online on the blockchain network. Each transaction in a block is protected by an immutable signature called a hash.
Cybersport, also known as e-sports, is a collective or individual competition based on video games. Consequently, the players are united in a kind of community (teams) and compete with each other or individually. Today, esports competitions have become so popular and massive that they have attracted the attention of major sponsors and advertisers. Which made the sport especially motivated, thanks to the tempting multi-million dollar prize money.
The games with the highest prize money and the most popular among esports fans are Dota 2, Counter-Strike, Fortnite, League of Legends, StarCraft, Overwatch, and PUBG (playerunknown's battlegrounds). Millions of fans around the world follow these sports, join communities, attend events and competitions, and watch live TV and streaming services.
Cybersport and cryptocurrency
Various gaming platforms and video games have limited payment options. The advent of cryptocurrency has fundamentally changed the situation, members, communities and esports fans who want to remain anonymous or due to the lack of a bank account. We got the opportunity to pay for various goods, services or a bet on an e-sports event.
The use of cryptocurrencies in games on various platforms reduces the amount of your personal information, gives you the ability to control which content is kept anonymous and which one is kept public. Also, cryptocurrency, unlike credit cards, allows you to avoid transferring personal data and location to third parties.
Trust is the main problem in the Internet space today. Blockchain provided the perfect solution to this problem, a smart contract. Thanks to this set of features and data, game developers, organizers and participants can interact with each other in real time and not worry about distributing bonuses. Since cases of data manipulation and manipulation are excluded due to the transparency of the blockchain network.
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