Some within the video game community continue to question what real value blockchain can bring to the realm of video games, as there are still few concrete examples of how it would be used. However, SoftBank Corp., a conglomerate with a long history in technology and telecommunications, has announced that it has joined Oasys, a blockchain designed for video games, as a validator. This indicates that while some may doubt its potential, there is still plenty of interest in exploring the possibilities that blockchain could offer in this field.
A validator node is essential to the stability and security of a blockchain network. In return, they receive tokens from the network as payment for their services. Together, they form a decentralized governance body that makes decisions affecting the health and future of the blockchain.
Oasys is marketed as a more sustainable option than other cryptocurrencies because it uses the proof-of-stake method to validate transactions. This mode of operation requires network participants to “stake” their tokens in order to participate, which is a contrast to Bitcoin’s proof-of-work mechanism, which consumes computing power and is criticized for its environmental impact.
The main purpose of incorporating blockchain technology into a gaming experience is to provide users with an immutable record of their assets, which can be exchanged and traded on the digital marketplace without interference. This allows players to have complete control over their virtual assets, which is often seen as one of the biggest threats to the gaming industry. By allowing players to trade and exchange in-game assets on a transparent blockchain infrastructure, developers hope to combat widespread cheating and fraud that has plagued many popular video games in the past.
John McAfee, the founder of anti-virus software company McAfee, has expressed interest in blockchain technology in the past. He is a supporter of decentralized networks and cryptocurrencies. Softbank is one of the world’s largest investors in blockchain technology and their involvement with Oasys suggests that they see potential in the application of this new technology to the gaming industry.
A vote of confidence from one of the largest telecom companies in Japan is a sign that the industry is stable and thriving. The market turbulence in the past year has caused a lot of uncertainty for businesses, but it seems like things are starting to stabilize. Companies like NTT have a lot of influence on the Japanese telecommunications market, so this news gives hope to other smaller companies feeling rattled by the current market conditions.
Details on SoftBank’s participation in Oasys’ validation pool have not been released, but the company is sure to bring its expertise in mobile gaming to the table. Joining a group of giants like Square Enix and Bandai Namco Research, SoftBank’s endorsement could help legitimize the platform and attract even more developers.
The Oasys network aims to decentralize it by enabling public participation, removing the limit on the number of validator slots, and creating a council to oversee matters. This will make the network more democratic and allow for easier adjustments in the event that needed changes are made.
