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Social Media Companies Join the Crypto World

The cult of cryptocurrencies is rising with each passing day. But to understand the reason behind this, it is quintessential to know what exactly is cryptocurrency? Cryptocurrencies are digital currencies set up by groups of individuals and secured using cryptography. It is basically a form of digital ledger. Usually, cryptocurrencies are based on the technology called blockchain. A blockchain, originally block chain, is a growing list of records, called blocks, which are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data.

Thus it contains a detailed list of information as to who has given what to whom; and who owns what. This data is permanent and irreversible thereby making it virtually impossible to create counterfeits. Since cryptocurrencies are largely free from government regulation, many investors and companies are attracted to their possibilities.

With the growing craze of cryptocurrencies, many big social media giants have decided to develop their own cryptocurrency. Since social media is a platform that involves “public” at large, the rage of cryptocurrency is soaring.

Most recent to join the race is VKontakte (VK), the most popular social media platform in Russia. Quoting from the recent report of the Russian news outlet RNS:

“According to [the unnamed source], the current configuration of the project involves the creation of individual accounts for the accumulation of cryptocurrency to all users of the social network.”

Once the cryptocurrency is developed, it would be able to be used by the site’s nearly 100 million active monthly users. However, the Russian social media giant has neither confirmed nor denied any rumors in context to the plans of developing a cryptocurrency.

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Certainly, VKontakte (VK) is not the first social media company to be lured by the appeal of cryptocurrencies. Much of the drive and inspiration comes from the popular US social media giant Facebook. Facebook, too, is working to formulate its own cryptocurrency. The Facebook crypto will be a coin associated with WhatsApp, allowing for near-instant transfers between users.

Counting on the public involvement at large, these social media companies are of a belief that users would readily begin to interact with cryptocurrencies. Thus, the future may see more and more companies joining the crypto world.

Featured image: Pixabay

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World of Ether is Now Live

The highly anticipated crypto-collectibles dApp, World of Ether (WoE), has officially launched its mainnet!

World of Ether

World of Ether is a blockchain-based game that is centered around collecting, breeding, fighting, and selling monsters. The developers behind the game have created a multi-level rich, interactive world, held entirely on the Ethereum blockchain. WoE is very similar to that of Pokemon, where there are five different ‘types’ of monsters. Each type holds its own advantages and strategies. As well as types, these monsters hold four grades of rarity: common, uncommon, rare, and legendary.

Legendary monsters are extremely difficult to obtain but are extremely valuable and powerful. Few players in the game will ever encounter them. However, battling your monsters gives you higher experience in the game and increases your chances of breeding rare monsters. Unlike Pokemon, the monsters in the game don’t level up, the players do. That’s the main difference.

Each monster in World of Ether was hand-drawn and created by the game’s artist, Cynthia Williams. This is another feature that makes the game stand out among the rest.  Initially, there will be 200 different species of Etherian available for players to obtain.

World of Ether

Game On!

There are two types of ways to earn ETH on World of Ether—siring and selling. Players can sire their male Etherians for ETH or pay to have another player’s male sire with their female. Selling your Etherians is another way to earn ETH in the game. Supply and demand dynamics are the pure judge of price and value in the game’s marketplace.

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Battling is what fans of the game seem most excited about. Battling in World of Ether is how players gain experience and level up.

world of ether

The battles in WoE are very similar to that of Pokemon. You can attack, heal, or place a counter move to make your opponent miss. Each Etherian monster has a varying range of possible battle points, and even if one has more battle points than the other, the weaker monster still has a chance of winning.

To play World of Ether, you will need a MetaMask account and ETH.

Check out the first reveal of World of Ether back in May and the team behind World of Ether in the video below.

 

Happy gaming!

Featured Image: worldofether.com

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Fortnite on the Blockchain | MagnaChain Wants to Make this a Reality

According to its website, blockchain creator MagnaChain is “changing the rules of the game.” And with a reported partnering with the popular video game Fortnite, could it be about to change the rules of the biggest game in the world? Could we be playing Fortnite on the blockchain soon?

Fortnite on the Blockchain

The most important aspect to understand here is that MagnaChain has created a blockchain system specifically for video games. It can do this because the company claims its network is capable of handling up to 100,000 transactions per second.

So if Epic Games, the publishers of Fortnite, are cozying up with this blockchain creator, the fair assumption is that Fortnite may become a decentralized blockchain-based game.

If this were the case, the benefits for the massive gaming community that play it would be huge.

“We plan on MagnaChain changing the face of a host of industries and business sectors. The video game industry is the first application of MagnaChain […] We believe the gaming sector can be one of the few industries to bring Blockchain technology to the masses.”

Transactions on the Blockchain

The Magnachain blockchain is a “completely new, built from scratch, public Blockchain and related integration toolset used for distributed application (dApp) development.” 

Because it is “powered by a truly decentralized consensus protocol,” this blockchain has “theoretically limitless network scaling potential.”

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In a recent testnet, it handled over 13,000 transactions per second. To compare that, “because of a hard-coded limit on computation per block,” Ethereum can only handle an approximate 15 transactions per second.

Scalability Limits Gaming

Scalability is one of the biggest issues faced by blockchain networks such as Ethereum and Bitcoin. It is an issue that causes delays and, as such, greatly limits them for use in large-scale blockchain games. The massive numbers expected in a day’s playing of Fortnite would simply cause these networks to slow to unusable levels.

But MagnaChain has built its network exactly for large-scale blockchain-based games. So can it put Fortnite on the blockchain? We will have to wait and see.

Epic Games already makes significant revenue from sales of digital assets in the game; a blockchain integration would likely see this increase further.

If putting Fortnite on the blockchain works, it will pave the way for a new caliber of blockchain gaming.

Featured Image: Depositphotos/© JJFarquitectos

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World of Ether | Will this Crypto Game Save Ethereum?

It’s been nine months since World of Ether sold half a million dollars of presale assets in just under 48 hours. Now, the crypto game is finally ready to show what’s been built.

This is declared by the founders to be one of the most sophisticated dApps on the market, pushing the boundaries of what’s capable on the Ethereum network. In World of Ether’s Telegram Community recently, fans have even echoed that this game will “Save Ethereum.”

$10,000 to Try Beta

On September 22nd, 2018, World of Ether will deploy their free Beta on the Rinkeby Test Net and will pay players a reward pool of $10,000 to try it.

“We’re giving players all this money for Beta so that we can have as much gameplay feedback as possible going into Main Net,” Edward Sturm, World of Ether’s Marketing Director told CryptoCurrencyNews.

The $10,000, as shown in this post, will be spread out as rewards for being the first to ‘hatch’ 40 out of 200 monsters within the game—rewards on different monsters will fetch higher prices than others.

A player who is first to hatch monster #26 will get $100, whereas the first to hatch #39 gets $800, for example. These rewards will all be paid in ETH.

“Part of the beauty of using blockchain for something like this is that the discoverer’s wallet is immutably attributed to the discovery of that monster, and that makes it super easy for us to track who gets which reward,” Sturm added.

World of Ether

Saving Ethereum?

Up until this point, Ethereum’s biggest dApp has been CryptoKitties, which skeptics have said isn’t an enticing use case for Ethereum. Augur is another high ranking dApp but has also been criticized, like so many other dApps, as having a ‘clunky’ user experience.

The World of Ether founders want to solve all of this.

“What we’ve made is going to turn into Ethereum’s flagship dApp,” says Bryan Okeke, who programmed the game’s smart contracts. “When the founders of Ethereum are asked about use cases for their blockchain, they’re going to say, ‘Oh take a look at World of Ether.’”

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Ethereum, of course, has been on a monumental bear run these past eight months, so there are many who are hoping these statements become truth.

World of Ether

About World of Ether

The World of Ether presale started in January by selling ‘Eggs’ that hatch into ‘Ethereian Monsters.’ Thousands of these eggs have been sold so far, with some of the buyers being well-known figures in the blockchain space.

So, I’m sure you’re wondering, “What can I do with these monsters?” Well, you have the option to breed them to make more, battle them to increase your level, and sell and sire them for real ETH. Higher level players are able to breed rarer and stronger monsters, which are expected to go for more on the marketplace due to strict rarity mechanics.

While World of Ether doesn’t use ERC721 tokens for its monsters (which are attributed on-chain to Ethereum wallets), the game does have power-ups called ‘Crystals,’ which are ERC20 and will be available for purchase in the near future.

World of Ether will be available on the Rinkeby Test Network this coming Saturday, September 22nd, and then on the Ethereum mainnet not long after.

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Crypto Gaming | Grammy Producer Running Pocketful of Quarters ICO

George Weiksner was only 11 years old when he launched his own crypto gaming company last year named Pocketful of Quarters. Yesterday, Weiksner announced via Market Watch that he has just signed on Grammy-winning producer Devo Harris to begin crowdfunding his initial coin offering (ICO).

Devo Harris on Board

Harris has worked with artists such as Britney Spears, Nas, John Legend, Aretha Franklin, and Kanye West.

“Kanye West, John Legend and I sparked movements by listeners that has transformed music and culture,” said Harris in the news release. “With Quarters, George and I can ignite a movement by players that transforms games and cryptocurrency.”

Pocketful of Quarters

Weiksner’s company raised $400,000 via a private presale already, and with the help of his Hollywood producer, he hopes to raise close to $1 million. The crowdfunding will be held on Republic.co.

Pocketful of Quarters was starting to solve an issue many gamers face when they are left with unused gaming credits that can’t be transferred between games. Weiksner seeks to connect providers and tokenize the credits. By doing this, his company will make those unused tokens transferable.

“I hate losing coins I bought and earned in games that I no longer want to play,” said Weiksner.

Pocketful of Quarters has almost been in operation a full year, and George became the first 12-year-old to complete an SEC-compliant token sale.

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The 12-year-old phenom also caught the eye of the founder of Ipsy, Michelle Phan. “I grew up playing video games that shaped who I am today,” said Michelle Phan. “I believe in George and his vision to help evolve the gaming experience.” Phan supposedly will be joining Weiksner as an investment advisor and so will Chris Cross, the original designer of ‘Medal of Honor.’

Talk about accomplished before even becoming a teenager. You go, George Weiksner, you go.

Featured Image: Depositphotos/© Alhovik

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