[ad_1]
IBM Corporation (NYSE: IBM) has secured a “Gaming consensus protocol for Blockchain” patent, signaling the potential use of blockchain technology in online games. According to CoinDesk, the patent granted last week could be used in massively multiplayer online (MMO) games.
What happened: The IBM patent details the methodology for providing proof of work. Players can participate by sharing their system resources to record game transactions in blocks and, in return, be rewarded with tokenized resources. In other words, players can act as Bitcoin miners.
The Blockchain gaming protocol could be applied to games like Activision Blizzard, Inc’s (NASDAQ: ATVI) Epic Games “Call of Duty”, “Warzone” and “Fortnite”, according to CoinDesk.
Blockchain will facilitate the execution of smart contracts within the network. It is also possible to move smart contract execution to the game server if your game colleagues have sufficient computing power.
Because matter: Blockchain technology can facilitate transactions between unknown parties despite being in a trustless environment. Transactions in the network can be verified and validated by all peers connected to the network.
In February, an IBM publication claimed that in-game assets such as guns, maps, and characters could be tokenized. All in-game purchases will require players to purchase these virtual assets within the network using an open order book.
In these cases, the fundamentals of the blockchain could be applied for in-game transactions and players can interact securely with colleagues.
Price action: IBM stock closed 1.29% higher at $ 118.36 on Monday.
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[ad_2]Source link