The Status Quo of Decentralized Gaming – The Capital

Blockchain gaming is a market almost as old as the technology itself. With the aim of creating a new generation of video games, various companies have developed technologies and approaches that pursue different philosophies over the years. But even at the beginning of the new decade, there are hardly any blockchain-based video games that have made it out of the beta phase.

Most blockchain DApps and games today are based on the Ethereum blockchain. However, mostly not with the ERC-20 token standard, since this poses a fundamental problem for this type of application: ERC-20 tokens of one type are interchangeable (fungible). An example from the world of fiat: No matter what $1 bill it is and it will always be worth $1.

That may still work for video games for your own currency. However, the ERC-20 standard is by no means suitable for collectible objects based on blockchain. The token standard ERC-721, which was created for non-fungible tokens, i.e. digital unique items, is intended to remedy this. A well-known example of the application of this standard is the decentralized app (DApp) Cryptokitties. Each virtual cat is unique here, represented by a separate ERC-721 token. Since a new ERC-721 is created for every cat in the Ethereum network, network problems of a certain size cannot be avoided. As a result, in December 2017 — the preliminary high point of the crypto hype, the network with the virtual cats got clogged.

So a video game needs both fungible and non-fungible tokens. Enjin wanted to combine both in one standard. And that’s exactly what they did with the ERC-1155 standard, which was recognized as the official Ethereum standard on June 17 last year. The core feature is to manage several different types of tokens with a single smart contract. This also benefits the developers of games because less standards have to be used in development.

However, Enjin is not only responsible for the ERC-1155 standard. The so-called “blockchain gaming universe” was also…

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