Alto.io wants consumers to start embracing cryptocurrency and blockchain in a broader way. So the company announced that it will support the Hedera Hashgraph platform with its own application that makes business possible.
Alto.io has created an instrument, the Alto Forge, which allows game and app developers to create non-fungible and completely negotiable cryptography elements and integrate them into their games. Developers can create showcases where they can sell encrypted items or keep pre-sales.
Game developers have created items that can be sold in games. But with blockchain, Alto.io can guarantee that the user really owns an object and that element can be unique thanks to the security and transparency of the distributed public ledger. Hedera Hashgraph has recently announced that it is creating its own version of an alternative blockchain network to accelerate this trade.
"The technology of variable distribution books will change the way we play games in the future – for the first time, the true ownership of game items is possible – we would like to be at the forefront of this breakthrough," said Chase Freo, CEO of Alto.io, in a statement.
If a game is interrupted, a user can transfer that object or character to another game that accepts
"We have chosen to support Hedera Hashgraph because its technology allows for fast transaction speeds with minimal gas costs , two of the biggest problems that blockchain developers are facing today, "added Gabby Dizon, co-founder of Alto and the president, in a statement. "It also supports the entire Ethereum Virtual Machine (EVM), which means that blockchain game developers can transfer their Solidity code to Hedera with minimal code changes."
The idea is to create a self-sufficient ecosystem built around the object of the blockchain – the first fair and profitable economy for all.
"Alto.io is helping to reduce entry barriers for game developers, allowing them to quickly and easily build on top of the industry's leading distributed accounting platforms," said Edgar Seah, head of the region Asia-Pacific for Hedera Hashgraph, in a statement. "We are delighted that they have chosen to integrate support for the Hedera Hashgraph platform into their tools, creating an ecosystem in which cryptos can be interoperable across multiple game worlds, to the benefit of both developers and gamers."
Alto.io was founded in Singapore and Toronto in February 2018 as a spinout by Altitude Games. It has 12 employees.
Asked why the company supports Hedera, Dizon said in an email: "Every distributed registry protocol needs real use cases – and the games are a case of use Main for its technology: In-game object trading is already a $ 50 billion business with no blockchain, and startups like Wax, Rarebits and Opensea are trying to solve the look and feel of the blockchain games market in which players can really own their game objects.Our platform allows game developers to tokenise their game resources and connect them to the blockchain, and we present developers with different ledger technologies distributed according to the needs of their particular game. "