Tag: Ethereum blockchain

Ethereum activities gain traction in China during Bitcoin’s struggle through scrutiny

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China has been the major reason for sudden spikes in Bitcoin prices during 2016 owing to the hedging activities of Chinese investors during Yuan’s devaluation. These activities brought the cryptocurrency under the scrutiny of the Chinese Central Bank that has been fighting off capital flight for some time now. As PBOC believed that Bitcoin might be one of the easy and efficient ways to send money out of the country, they have decided to place strict KYCs for the Bitcoin exchanges. To set up an able system that monitors and regulates any laundering activity, the exchanges have banned fiat withdrawals that led to a sudden drop in volumes from China. While the process is still in motion, Bitcoin’s conjugate Ethereum has picked up the pace in China with better adoption and group meetings on regular basis. Let’s look into the details of Ethereum and how it has been making progress in China:

Ethereum as Bitcoin’s conjugate:

Ethereum has consolidated its place in investor portfolio owing to its multiple applications and its growing stability. The cryptocurrency jumped by $5 from $42 to $47 when Bitcoin crumbled under the pressure of a possible hard fork. This revealed that investors are transferring funds between Bitcoin and Ethereum as part of their portfolios interchangeably according to the shifting dynamics of the cryptocurrency. Hence Ethereum truly has become Bitcoin’s conjugate and owing to its executable smart contracts on Blockchain is finding good value with the investors.

Increasing activity in China:

Ethereum activities are increasing in China, due to increasing interests in the Enterprise Ethereum Alliance and the Ethereum network’s applicability to a wide range of infrastructures across a multitude of industries.Chinese bitcoin exchanges have recognized a surge in interest and demand for Ethereum. As a result, major bitcoin exchanges including OKCoin have announced the integration of support for Ethereum or Ether trading.

CnLedger announced:
“Our source tells us OKCoin is now planning on listing Ethereum. “May list it at the appropriate time.” Confirmed by OKC customer service.”

What Ether’s future looks like:

At the time of writing this article, Ethereum passed $80 reaching an all-time high. Consequently, the market cap for Ethereum has moved from $6 Billion to over $7 Billion. With a significant presence now in the Chinese sphere, Ether trading is bound to pick up. Regular meet ups over ETC and ETH are being conducted in China with the cryptocurrency proponents taking keen interest in the structure of the digital asset and its applications.

The confluence of Blockchain and MOBA gaming – ‘Beyond The Void’

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The beauty of cryptocurrencies and their underlying technology lie in the multitude of applications they offer. They can imbibe to any existing technology to give us a transformed output that might change the way we look at it completely. One such arena, which invites ledger based technology with open arms, would be gaming. The gaming industry has a huge market cap with Multiplayer Online Battle Arena leading from the front. This genre has heavy vested investments and features in eSports (video game competitions) with heavy prize money. With so much at stake, ‘Beyond The Void’, a new ‘free-to-play’ RTS-MOBA game can storm the gaming industry. This game kicks of with a token crowd sale with  tokens as rewards for players. Let’s dive deep into the launch dynamics of the game:

The MOBA Market worth:

MOBA Market Worth

The net worth of MOBA market in 2016 was around $20 Billion with major market share concentrated in the east. League of Legends leads this market with a market share of whooping 66%. Next in line is DOTA 2 with market share of 14%. These games are more in control of the developers having quantized costs and trading facilities for items.

Beyond The Void:

The multiplayer game debuts in November’s ‘Money2020’ and CoinAgenda industry events in Las Vegas. ‘Beyond The Void’ is launching a token crowd sale in partnership with decentralized conglomerate OpenLedger and crowdfunding group. The game aims to combine a blockchain based Initial Coin Offering with a blockchain token economy.

Beyond The Void

The vision behind the launch of this blockchain based game is to create a culture where the players own the ecosystem as much as the developers. The investors would benefit from this game in a unique fashion. These ICO tokens, named ‘Nexium’ will steadily burn over the time. The increasing scarcity of tokens increases their value. The game modifies itself such that as player base grows,  so will the price of Nexium and blockchain assets.

Beyond The Void vs Traditional MOBA games:

Beyond The Void vs Traditional MOBA games

The game is extremely competitive between players incite more growth in the growing e-sports space. It is free to play with major revenue streams being Nexium tokens, Ethereum blockchain assets, and player-owned economy. The game hopes to attract additional players with a player-driven economy. Players can own and trade buyable items in the game at will. Giving the players total control will create a whole new set of economic opportunities for players and the developers alike.

It would be interesting to note how this game would impact the MOBA industry and pave way for further Blockchain based games.

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