Crypto Games, also known as Cryptocurrency Games, are a new form of online gambling that has been gaining popularity in recent years.
They emerged from Bitcoin Gambling sites which were very popular about five years ago but then became less so because there was no way for players to win anything without putting their own cash on the table. Now with Crypto-Games, you can get rewarded just for playing! This article is going to explore what crypto games are and how they work.
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What are Crypto Games
Crypto games are applications that run on the blockchain, meaning they are decentralized. What this means for users is no third-party interference, no censorship, and most importantly, no downtime. This makes it safer to use than most centralized apps since there’s no risk of account hacking or deletion.
They can range from traditional games to educational applications.
What is DApp?
A decentralized application, or DApp for short, is a program that’s stored on the blockchain and runs on P2P (peer-to-peer) networks. This means there’s no central point of control since it’s stored and maintained on multiple nodes across the globe.
Traditional games are typically hosted on centralized websites like Steam, which doesn’t come without its own problems. DApps make the game more secure since there’s no central server to hack into and shut down. Developers can even build value into their games by issuing their own currency to be used throughout the game.
What is Ethereum?
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud, or third-party interference. Ether (ETH) is the currency used for operating smart contracts on Ethereum. These apps run on blockchain technology, making them almost entirely un-hackable!
What is a Decentralized Autonomous Organization?
A decentralized autonomous organization, or DAO for short, is an organization that lives on the internet and runs through rules built into smart contracts on a blockchain. In most cases, these organizations are run by programming code, but there could be human involvement in some situations.
What Are Smart Contracts?
Smart contracts are simply programs that run exactly as programmed without any possibility of censorship, downtime, fraud, or third-party interference. The best thing about smart contracts is that they can power Decentralized Autonomous Organizations (DAO).
How do Crypto Games work?
These games use cryptocurrency in one form or another, so they usually require their own wallet to store funds. Users can use real cryptocurrencies from exchanges or acquire them in several different ways. One way is by mining which requires a computer with a powerful graphics card. It utilizes computational power to solve complex equations that release coins as a reward for participation.
Crypto games have also been known to have referral programs where users can invite others and earn rewards in return. The most popular crypto games at the moment are Spells of Genesis (SoG), Etheremon, CryptoKitties, and BitQuest.
Why should I get involved?
There are many advantages to using Dapps over traditional services. They make things more transparent since it’s easy to see how votes are tallied, items distributed, and other aspects of an application take place.
Another thing that makes them attractive is there’s no risk of censorship since it’s stored across multiple nodes in a network. Since there’s no downtime, your data is always in sync and running smoothly.
What Are Some Popular Apps?
SoG: Myriad – It’s a collectible trading card game where you buy and sell cards on the blockchain to increase their worth.
Etheremon – A Crypto-Monster fighting game that lets you trade your monsters for ETH or EMONT tokens at the end of each season
CryptoKitties – You can collect, breed, and transact Crypto Kitties using ETH. Players buy kitties from other players through smart contracts, which use part of its code to execute deals automatically, thus removing the risks associated with traditional e-commerce sites.
BitQuest – You can play this Minecraft-like game that utilizes cryptocurrency to buy items.
Grid+ – Grid+ is a decentralized energy market that works in conjunction with an Ethereum blockchain-powered micro-grid management system.
What Can You Do With Them?
Some DApps let you bet on the outcome of events with other players, while others allow you to collect items that can be sold or exchanged for ETH. One of the most popular uses is trading collectibles with other players.
How do I Get Started?
Each of these apps is different in its own way, and you’ll need to download the right DApp for your device. Some can be downloaded from Google Play and Apple’s App Store, while others will be available only through the web browser or a desktop client.
You’ll also need to acquire ETH somehow, so you’ll have to invest in cryptocurrency or mine it yourself. If you decide on the latter, then you’re going to need a powerful graphics card since mining requires computational power that GPUs were specifically designed to handle.
These cards are optimized for just such an activity, and when used together in groups, they can release coins at an increased rate which can further increase profits if mined with other users in a pool.
If you decide to invest in cryptocurrency, then you’ll need an online wallet that lets you buy, trade, or transfer coins. Make sure it’s a reputable site with solid security features, and make sure your private keys are backed up in several places offline in case your computer crashes.
Are There Any Drawbacks?
Since these are new technologies that are still being tested, there’s always a chance the network could crash when it’s under heavy load. This wouldn’t necessarily mean your funds would be lost since they’d be recorded on the blockchain in real-time, but it could make for some frustrating times while waiting for transactions to process.
This is in sharp contrast to traditional games where everything happens instantly.
How Can I Secure My Funds?
Each game has its own method of protecting funds that players then deposit into their server. Some games allow you to vote on proposals that get implemented directly into the code, which lets them keep things fair and transparent since anyone can see exactly how funds are secured.
Since Dapps run on smart contracts, there’s no human needed to approve or reject transactions, so it’s best to check with each game before depositing any money into them.
The Future of Crypto Games
Games like CryptoKitties and most of the other DApps are still in beta, so they haven’t had a chance to really expand their offering or gain traction. As they get more popular and investors begin to support them, these games will grow and evolve.
They’ll also need to standardize their platforms for easier use and make it easier for ordinary people to understand how they work since cryptocurrency can be intimidating at first glance.
It’s not hard to see why developers would create DApps like these since it gives gamers a chance to earn money from the comfort of their own homes while having fun.
Security is always a big concern in online gaming, so there’s an obvious demand for games that have their funds secured on a blockchain.
These games offer players the chance to earn money while playing and the ability to trade with other users, so it’s not hard to understand why they’re so popular.
As time goes on, we’ll see how well these games do and if they can truly take off as viable alternatives to mainstream online gaming.