Warrior Game — Blockchain Explained
Warrior Game started an educative series that aims to onboard and help noobs in the blockchain space.
What is Blockchain?
A blockchain is a distributed database or ledger that is shared among the nodes of a computer network. As a database, a blockchain stores information electronically in digital format. Blockchains are best known for their crucial role in cryptocurrency systems, such as Bitcoin, for maintaining a secure and decentralized record of transactions. The innovation with a blockchain is that it guarantees the fidelity and security of a record of data and generates trust without the need for a trusted third party.
Uses of Blockchain
While blockchain is still largely confined to use in recording and storing transactions for cryptocurrencies such as Bitcoin, proponents of blockchain technology are developing and testing other uses for blockchain, including these:
- Blockchain for payment processing and money transfers. Transactions processed over a blockchain could be settled within a matter of seconds and reduce (or eliminate) banking transfer fees.
- Blockchain for monitoring of supply chains. Using blockchain, businesses could pinpoint inefficiencies within their supply chains quickly, as well as locate items in real time and see how products perform from a quality-control perspective as they travel from manufacturers to retailers.
- Blockchain for digital IDs. Microsoft is experimenting with blockchain technology to help people control their digital identities, while also giving users control over who accesses that data.
- Blockchain for data sharing. Blockchain could act as an intermediary to securely store and move enterprise data among industries.
- Blockchain for copyright and royalties protection. Blockchain could be used to create a decentralized database that ensures artists maintain their music rights and provides transparent and real-time royalty distributions to musicians. Blockchain could also do the same for open source developers.
- Blockchain for Internet of Things network management. Blockchain could become a regulator of IoT networks to “identify devices connected to a wireless network, monitor the activity of those devices, and determine how trustworthy those devices are” and to “automatically assess the trustworthiness of new devices being added to the network, such as cars and smartphones.”
- Blockchain for healthcare. Blockchain could also play an important role in healthcare: “Healthcare payers and providers are using blockchain to manage clinical trials data and electronic medical records while maintaining regulatory compliance.”
Benefits of Blockchain
- Time savings. Blockchain slashes transaction times from days to minutes. Transaction settlement is faster because it doesn’t require verification by a central authority.
- Cost savings. Transactions need less oversight. Participants can exchange items of value directly. Blockchain eliminates duplication of effort because participants have access to a shared ledger.
- Tighter security. Blockchain’s security features protect against tampering, fraud, and cybercrime.
About Warrior Game.
Warrior is a 3A MMORPG & open-world game based on blockchain technology, it enables users to participate in gaming activities that will allow them have fun as well as earn from carrying these activities.
