Online games are becoming more and more popular every day. As the years have gone by even since the advent of the internet and ultimately online gaming, the popularity of such games have increased to a great deal. So much so, that hardly anyone doesn’t know a thing or two about online gaming.
Especially during the last couple of years as the Covid-19 pandemic hit the world, the popularity of such games have rocketed more than ever. As a matter of fact, analyses of the gaming industry dating from 2013 to 2020 show that the value of this market has more than doubled in less than 10 years; having gone from about 76 billion dollars in 2013 to more than 180 billion dollars in 2020.
But, with the increase in the number of online players, there will be some expected issues. Among these, we can refer to issues with safety, security, and of course scalability.
What can solve this issue? Of course, Blockchain technology. This technology can help improve all the aspects of the existing online gaming industry. This includes security, privacy, efficiency, and scalability. Altogether, this will mean a very large number of players will be able to take part in online gaming with ease of mind.
Xbit project has come fore with regard to this very issue. Xbit intends to incorporate Blockchain technology into gaming industry.
The Gaming Industry Is Being Redefined
With all these issues that currently exist in the world of online gaming, a change and revolution should be inevitable.
As it should be. And it is. This revolution is being taken place with the implementation of the Blockchain technology. As it appears that the advantages of this technology can greatly improve what this industry can offer users and players all over the world.
In this article, our focus is on a project that is introducing Blockchain technology into the world of online gaming like it has never been seen before.
Xbit project is offering a cryptocurrency known as the Xbit Coin in addition to an online casino, the Casino Xbit. We will review each one in detail and see what advantages they can offer.
First off, we will investigate the technological aspects of this digital currency.
Xbit Coin, also known with its exclusive code XBT, has been developed based on SHA-256 algorithm. As any avid crypto enthusiast knows this, SHA-245 algorithm is one of the most popular and widely used algorithms in the crypto world, with other cryptocurrencies having implemented it, including Bitcoin and other digital currencies.
Xbit Coin has its own independently run and operated Blockchain network. This is not the case for all cryptocurrencies. Many cryptos are developed and run based on other Blockchain networks. But, obviously, having an independent Blockchain network will have enormous advantages for the users.
Xbit Coin has a total cap of 1 billion (1,000,000,000) coins. All of these coins have already been mined and ready for use.
The one billion coins are distributed in the following way: 400 million coins are provided to early investors who established the casino and the development team. 400 million coins are offered to ordinary buyers. The rest of the 200 million coins are provided to the business operators.
Xbit Coin Provides Many Upsides
As was mentioned above, as the official motto of the project goes, this coin has indeed been designed for online gaming; but at the same time, much like any other coin, its simplest and most straightforward usage would be for basic transfer of financial assets.
So, given the price of the coin at the moment, Xbit Coins can be used for financial transfer much like any other coin. However, as far as claims go, the applications of this coin should not end here, and it seems that they don’t.
As mentioned above, Xbit Coin is accepted exclusively by Casino Xbit. Therefore, Xbit coins are known as representative of revenue shares of casino Xbit. Since, in a way all the users and owners of the coin will benefit from the casino as well.
As the casino performs better and more and more players are attracted to its games, this increases the value of the coins that are used in this casino, which is Xbit coin.
In addition, Counos Platform has provided its staking service for this project.
With the help of this feature, all the owners Xbit coins will be able to stake them. In the process of staking, the staked coins are frozen and transferrable. In return, users will receive an annual interest of 5 percent.
This allows gamers and all the users to benefit even more with the help of Xbit cryptocurrency.
Future of Gaming Is Blockchain
So as we just discussed in this article, the future of the online gaming industry is being redefined today with the help of the Blockchain technology. And, Xbit project is a Blockchain-powered platform that intends to combine this technology with this gaming venue.
To this end, Xbit Coin is offered to users with many advantages, including being accepted by the online Casino Xbit, where you can play thousands of online games.