Bitcoins are a success! Digital currency is a subject everywhere, and several people are addicted, however, it’s not about it that we’re going to talk about today’s article, and yes, we’ll delve a little deeper into our knowledge and seek more blockchain-related information. Many people even know Bitcoin, but have never even heard of blockchain game, or have even heard, but have not even sought to know more information just because they have seen that this name is quite complex. However, below, you can obtain various information related to it, being able to check its way of functioning, know what it is for, in addition to a series of other information, which will leave you well informed. So keep following the article and check out this and other information.
How does Blockchain work?
Generally, because they see such a complicated name, people end up thinking they will never understand how something works or what it’s for, without even trying to know. The Blockchain game, is something so simple, that when I talk, you will be impressed and be amazed how simple it is.
In fact, Bitcoin is the most famous virtual currency and used in various games, isn’t it? Yes, and blockchain game, it’s nothing more, nothing less, an accounting book. That is, blockchain is the party that is responsible for recording everything that is moved and all transactions that are carried out with the bitcoin virtual currency.
Thus, through the Blockchain system, various information can be absorbed and stored in a report, where it will be possible to know the value of transactions made in Bitcoins, the name of the person who made the transaction, as well as the name of the person who receives the transaction and in addition, it will be possible to know where in the book, this information is located.
Therefore, these transactions are recorded in blocks. But what do you mean? Whenever a transaction is made, it is instantly reported and saved to a block. Thus, every 10 minutes (time period for each block to be created) a new transaction block is registered and thus, they are connecting to each other. And so, a blockchain is formed, made blockchain game technology perfect.
What’s it for?
As mentioned earlier, blockchain game actually serves to record transactions. With this, several information can be obtained, being generated in blocks. Thus, the value of the transaction you made with Bitcoin, your name, the name of the person who will receive the transaction and some more data, will be contained in a block. These blocks are generated within a certain period of time, that is, every 10 minutes, a new block is formed, containing the same information, with their respective transaction values in bitcoins, in addition to others. Therefore, you can get all the security possible, where you will not be able to make modifications to already created blocks, since they will be encrypted.
What does Blockchain mean?
Blockchain, has its functionality, which as you could already see, is to record information related to transactions that are carried out with Bitcoin, the digital currency. Thus, you can make investments, in addition to other types of movements with this currency, in a totally safe way. Therefore, each set of information, named after the person performing the transaction, such as the name of the person who will receive it, transaction value, and some other data, are all stored in blocks. Every 10 minutes, a new block is formed. For this reason, it is that the word Blockchain, translated into the Portuguese, means to say “Blockchain”.
How does Blockchain work in 4 steps?
In fact, you may have already understood very well how Blockchain works, however, I will still explain to you how this technology works in 4 steps, so that you understand it even better and better understand how it works. Then stay tuned to find out. First, the Blockchain game, will make the registration of the transaction performed, with all the necessary information. After that, in the second step, she will become anonymous. The third step is to make it official and the last and fourth step is to make it immutable, so that modifications cannot be made to your transaction or any other block.
Collectibles in blockchain game
In blockchain game, you may have the opportunity to collect. Thus, several are the examples of famous games/games, which offer adorable creatures, which can be collected by you. An example of a game that is able to offer you the opportunity to collect amazing pets and that you will fall in love with, is cryptokitties. They are kittens of different styles, to which you collect and cross them, having the opportunity to get several other species of kittens, of all colors, styles and etc.
Game of “bad luck”
In gambling, bitcoins are present and are the main characters of this game. That’s because you’ll be able to participate in betting games and others by trading bitcoins. Thus, in the game, it is possible that the data of the transaction performed is stored in blocks, and thus, the game goes on as it is instructed and you may have the chance to win or lose your bet. It’s all about luck in this kind of game.
Information asymmetry and inflation
Inflation is not something that is present in our lives only in our currency, the real, or in the dollar, for example. Even bitcoins also suffer from the problem of dealing with inflations, where increasingly, the virtual currency goes down and down. This ends up being a big problem for developers. Another of the problems that ends up causing developers to end up having problems, is in relation to the asymmetry of information, where players, often, exchange appreciation items, without first obtaining the necessary information, of value, in addition to others.