BITCOIN SV: IGNITE THE POWER OF eSPORTS DATA
Bitcoin and eSports: A Perfect Match
The past decade has seen a meteoric rise in the popularity of eSports worldwide. For players, competitive eSports has grown into a professional sport like any other, attracting substantial rewards for those with all-conquering skills. For spectators, it’s a chance to watch the best players in the world battle head to head, a new form of entertainment with an ever-growing international fanbase. Since the very beginning, the synergies between eSports and Bitcoin have been widely recognized and discussed, with mutual benefits to both the eSports industry and global Bitcoin adoption.
Bitcoin SV (BSV) in particular is perfectly suited to the needs of eSports and is the only blockchain capable of handling the unbounded scaling needs of the sector. But what are the challenges for eSports on blockchain, and how does BSV help overcome these obstacles to build successful games?
The Challenges of Growing an eSport Title
Some predictions put revenue from eSports on track to be larger than Formula One or the UEFA Champions League by 2022, reflecting the sheer scale of growth in the sector. This is a rapidly expanding space, yet one which still lacks the appropriate technological infrastructure to handle its specific needs. It’s not that eSports is currently held back by insurmountable obstacles—rather, that there are better options available for eSports developers.
This is where blockchain comes in. The technology is ready-made to serve eSports and eGaming, with provable fairness and data integrity at the heart of what advantage distributed ledger technology has to offer the industry. Beyond that, it is BSV that is best equipped to respond to the demands of eSports, with unbounded scaling and microtransaction efficiency developers are increasingly looking for when creating eSports titles.
According to Adam Kling of Kronoverse, eSports are simply an extension of regular video games, with the challenge of meeting the at-scale needs of a popular multiplayer game.
“eSports is an extension of what is possible with a video game. That is, a community evolves around your game and is competitive with each other to be the best in tournaments, etc. This creates a sticky fanbase of players and spectators that help drive revenue and growth for the game as well. So it's not a problem they are trying to solve, it's more of a goal to become a popular eSports title.”
Integrity is a key issue for any successful eSport. From game results and ranking matches through to prize competitions, there is a need for accurate and immutable data collection and recording. eSports stand or fall on the strength of their data integrity, and games need systems in place that prevent these records from being tampered with.
Particularly considering the financial element that can be a factor when you’re dealing with professional eSports, there is a clear incentive for some players to attempt to distort game data. As an eSport scales, this becomes an ever more pressing challenge.
Account hacks, botting, and the use of illegal third-party programs also pose risks to the integrity of the game. In the interests of fairness, and in building trust amongst competitors and spectators alike, eSports organizers must identify and weed out these types of activities.
From a commercial standpoint, game developers have limited available revenue streams and there are only a limited number of ways for players to win prize money. At the same time, game development costs tend to be high and there are often few developer tools available to help game designers turn ideas into reality.
How Bitcoin SV Solves These Issues
The BSV blockchain solves these issues for eSports. It does so right now, without the need for further technical upgrades. Thanks to the unique features of Bitcoin over other blockchains, BSV is already equipped to handle the needs of global eSports, with the capacity to deliver greater game integrity, greater access to data and better player insights.
Player actions are recorded permanently on the blockchain, publicly accessible for absolute transparency. No individual can tamper with these records—as the data is created by in-game actions, it is written to the BSV blockchain forever. As well as shoring up game integrity, this also allows for more detailed and effective analysis of gameplay.
Game developers can also benefit from a percentage of the prize pool, a new revenue stream that pays in BSV from prize money for tournaments and other competitions. This puts developers on a more sustainable footing than would otherwise be the case, introducing a revenue incentive that is otherwise technically challenging to implement. And because BSV doesn’t rely on multi-layer solutions, the platform is infinitely scalable, stable and secure.
The BSV ecosystem is already more supportive of the needs of developers, yet continues to expand with new software tools and streamlined coding processes making for a more straightforward development process. In-game transactions, whether for recording game data or facilitating the payment of prizes, are available for just a fraction of a cent, for cheaper, faster and more efficient microtransactions.
Taken together, these features underline the clear benefits BSV has to offer eSports developers and players. Having previously built on Ethereum, Kling said the switch to BSV allowed Kronoverse to more effectively tackle the challenges of scale.
“We were using Ethereum before and went to Bitcoin SV because it solved the problems we had with Ethereum. We didn't try any other blockchains. The problems were mostly with scaling (it was cheaper, faster, and more efficient) and how we could develop using BSV (it was different and more open-ended).”
Register for CoinGeek Conference
If you’re interested in learning more about BSV and how blockchain and eSports work together, the CoinGeek Conference kicks off on June 8. Coming to you live from New York and London, the event brings together some of the best minds in blockchain to discuss issues around the development of Bitcoin (BSV). In particular, the event will look specifically at implementations in eSports on blockchain, and how eSports developers can take advantage of the properties of BSV that make it such a comfortable fit.
The free event features presentations from Adam Kling, founder & CEO of Kronoverse (the company responsible for leading crypto eSports title Crypto Fights). Kling will be joined by John Brackens, CTO of Esports Entertainment Group, and Rahul Sood, the co-founder of Unikrn and the creator of Microsoft Ventures in a panel discussion on eSports and the advantages of the massively scalable BSV blockchain on June 8.
Building on the successes of previous CoinGeek conferences, CoinGeek Live is the biggest event yet, with thousands of delegates expected to tune in from all over the world.
This virtual conference is the perfect opportunity to see how Bitcoin SV is connecting One World to One Chain. You will learn more about how BSV can add more value to eSports and other sectors, the event gets underway June 8. Register now for your free ticket and secure your spot to this virtual conference, a must-attend for anyone passionate about eSports.