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Kronoverse Leaves Enjin To Use Bitcoin SV Solution For Storing In-Game Items

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Kronoverse Leaves Enjin To Use Bitcoin SV Solution For Storing In-Game Items
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After relying on Enjin to define items within CryptoFights, Kronoverse has decided to leave Enjin to use its custom Bitcoin SV (BSV) solution for building in-game items. This decision will greatly benefit Kronoverse users who want a reliable system to buy, sell, and trade gear.

Why did Kronoverse choose to leave Enjin?

“We decided to leave because of problems with Ethereum,” said Adam Kling, the CEO, and founder of Kronoverse. “Bitcoin SV is the best choice for us and the value we are working to bring to the esports community.”

Making the decision to transition to BSV was the result of research and development efforts that continued to show that Ethereum was not the best fit for what Kronoverse envisioned. Here are the key issues Kronoverse dealt with when building on Ethereum:

  • Ethereum is at capacity, slow, can’t scale, and expensive. This is discouraging to gamers who want to buy, sell, and trade in-game items on a frequent basis.
  • Proof of Work is the only proven consensus mechanism and we lack confidence that PoS/DPoS will work.
  • Ethereum 2 scaling approaches are still experimental whereas BSV has demonstrated its scaling ability.

What are some of the benefits of transitioning to Bitcoin SV?

As part of its efforts to make in-game item ownership more scalable and accessible to gamers around the world, Kronoverse is turning to BSV as its solution of choice. Kronoverse is creating a better item protocol with BSV.

BSV is also faster and cheaper to conduct trades. This means that players won’t have to worry about racking up ridiculous fees just to do things like trading duplicate items and selling unwanted items. Due to its efficiency, BSV is capable of handling millions of transactions without slowing down. Kronoverse users can have confidence that nothing will go wrong when they’re trading and selling.

Kronoverse users will also be able to use more available features that Enjin isn’t capable of like storing the 3D model of an item. Files can be stored on blockchain similar to Dropbox which is convenient and easy to use. This feature is just one of the many details that will add to the total user experience that gamers will enjoy in the Kronoverse platform.

What does this mean for existing holders of Enjin items?

If you’ve already purchased CryptoFights in-game items, you don’t need to worry. All of your Enjin-based pre-release items will be honored but these tokens will serve as a claim check for BSV tokens. To make this possible, we’re releasing a conversion smart contract in a few months which gives users the ability to melt Enjin items, keep the stored ENJ, and receive an equivalent item usable in CryptoFights.

Introducing the Kronoverse Marketplace

As part of its vision to empower gamers with true item ownership, the Kronoverse Marketplace is slated to be available for later this year. All users will be able to sell unwanted items for profit. Kronoverse users will also be able to trade with other players to find the in-game gear they want and need.

Whether you buy or win an item, it’s automatically added to your Kronoverse wallet as soon as you acquire it. Your mobile wallet app makes it easy to read any item’s description, stats (i.e. rarity, value, type, and which games it’s compatible with). Each item also has its own history that provides the original ownership, when it has been listed for sale and all previous owners of the item.

Another way users can benefit from the marketplace is the list of wanted items and items for sale. Logging into the Kronoverse system allows you to see your own items, balance, and make trades using items or cash. You can also start a trade listing with multiple items or seek rare items for a cash reward.

What’s next?

Within the next couple of weeks, the launch date for the CryptoFights open beta will be announced. The open beta will be available on Android and will be free to play. It’ll give you the chance to experience the latest updates, improved gameplay, and test out your skills against other players around the world.

When the full game and the Marketplace is released later this year, everyone will experience the power and benefits that come from transitioning Kronoverse to BSV.

Bitcoin

Evgeniy Babitsyn from Bets.io Comments on the Future of BTC

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Evgeniy Babitsyn from Bets.io Comments on the Future of BTC
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In January 2024, the SEC approved 11 Bitcoin ETFs, marking a significant announcement for Bitcoin and the wider crypto-market. This approval demonstrates the growing integration of traditional finance with decentralized finance. The announcement has sparked mixed reactions, with crypto experts questioning what this means for the future of tradable crypto assets. On the back of the announcement, the news that BlackRock will now be the biggest holder of Bitcoin has made the issue more complex.

Evgeniy Babitsyn, CMO of Bets.io, is an expert crypto commentator who has been closely monitoring these latest developments.

“There are pros and cons to the BTC ETF. On the one hand, it gives retail investors another avenue of access to the crypto market, allowing them to invest through a traditional finance instrument. This is important because investors not well-versed in crypto investing can find it difficult to access and invest in crypto assets,” he said. “However, the bigger point here is that BTC’s incorporation into an ETF goes against the founding principles of cryptocurrency. Its evolution is a consequence of advanced technology removing the ‘middleman’ in transactions, empowering individuals to make transactions free of bureaucratic institutions.”

When it comes to the regulation of crypto assets, Evgeniy does admit that there is a role for regulators to play. However, he advises it should not go against the fundamentals of cryptocurrencies. “While there is a role for regulation to play, having an ETF in play goes against what BTC initially set out to achieve as an alternative to traditional financial systems.”

Increased institutional involvement in crypto trading can also distort the market, posing significant questions for the future. “News is now emerging that the world’s largest asset manager, BlackRock, is on track to becoming the biggest holder of BTC because of the ETF,” Evgeniy said. “Coupled with this, the ongoing developments from state entities to regulate crypto assets, the question now is whether the institutional embrace of BTC marks the beginning of the end for the coin, at least in its original form.”

Bets.io is a renowned brand within the world of crypto iGaming. It was launched in 2021 and has been rapidly expanding ever since. In 2022, the brand was acclaimed as The Rising Star Operator of the Year by SiGMA Europe for its ambition, results, and potential in the online entertainment industry. As such, it has been keenly watching the developments of crypto assets unfold.

Looking to the future, Evgeniy sees big announcements on the horizon. “For now, we know that 2024 will be a monumental year for the future of BTC, cryptocurrencies, and Web3.”

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Bitcoin

How Bitcoin made its way into mainstream service industries

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Bitcoin, a decentralized digital currency, has garnered significant attention and adoption in recent years. Its emergence has challenged traditional financial systems and paved the way for alternative forms of currency. Mainstream service industries, encompassing a wide range of sectors such as e-commerce, travel, hospitality, and finance, have witnessed the transformative impact of Bitcoin.

This article explores how Bitcoin made its way into these service industries, revolutionizing the way transactions are conducted. From its humble beginnings to its current status, Bitcoin has navigated challenges, gained acceptance, and provided numerous advantages, leading to its integration into the mainstream service sector.

Early Adoption and Initial Challenges

Bitcoin was introduced in 2009 by an anonymous person or group known as Satoshi Nakamoto. During its initial years, Bitcoin attracted a niche community of tech enthusiasts, libertarians, and those seeking an alternative financial system. These early adopters recognized the potential of the cryptocurrency and its underlying blockchain technology to disrupt traditional payment systems.

As Bitcoin gained attention, it faced significant skepticism and resistance from established service industries. Many industry players questioned its legitimacy, associating it with illicit activities due to its decentralized nature. Moreover, the volatility of Bitcoin’s price posed challenges for businesses that desired stability in their financial transactions. Concerns regarding regulatory compliance, security, and scalability further impeded its acceptance.

Over time, the Bitcoin ecosystem has evolved to address these early challenges. Innovations such as payment processors and merchant services emerged to facilitate Bitcoin transactions and provide stability by instantly converting Bitcoin into local currencies. Regulatory frameworks have also begun to take shape, enhancing consumer protection and promoting transparency. Additionally, advancements in blockchain technology have improved security and scalability, addressing some of the initial concerns surrounding Bitcoin’s integration into service industries.

Growing Acceptance in Service Industries

Bitcoin’s journey from a niche digital currency to widespread acceptance in service industries has been marked by notable milestones and increasing recognition of its value proposition.

Service industries across various sectors have started embracing Bitcoin as a viable payment option. E-commerce platforms, for instance, have integrated Bitcoin payment gateways, allowing customers to purchase goods and services using the cryptocurrency. Travel and hospitality businesses have followed suit, enabling travelers to book flights, accommodations, and other services using Bitcoin.

Another notable example of this acceptance is the integration of Bitcoin into online casinos.

Online casinos have increasingly embraced Bitcoin as a payment method, providing players with an alternative to traditional fiat currencies. Bitcoin’s advantages align closely with the needs and preferences of online casino enthusiasts. Firstly, Bitcoin enables faster and more secure transactions, allowing players to deposit and withdraw funds quickly without the delays often associated with traditional banking methods.

Moreover, Bitcoin offers enhanced privacy and anonymity, which are highly valued by online casino players who prefer to keep their gambling activities discreet. With Bitcoin, players could now play BlackJack online without divulging personal banking information, fostering a sense of security.

Food and beverage establishments have also begun accepting Bitcoin as a form of payment, providing customers with more choices and flexibility in transactions. Furthermore, financial services have recognized the potential of Bitcoin, with some institutions offering Bitcoin custody services and even incorporating cryptocurrency investment options.

Future Prospects and Potential Challenges

The future of Bitcoin in service industries holds both exciting prospects and potential challenges that need to be addressed for continued growth and mainstream adoption.

Bitcoin’s trajectory points towards increased mainstream adoption in service industries. As more businesses recognize the benefits of accepting Bitcoin, we can expect a broader range of industries to integrate cryptocurrency payments into their operations. This would contribute to the overall normalization and acceptance of Bitcoin as a legitimate form of currency.

As an example, Bitcoin’s future in online casinos appears promising, with an increasing number of platforms embracing cryptocurrency transactions. As more online casinos recognize the benefits of Bitcoin, it is likely to become a standard payment method across the industry. This increased adoption will allow players to find their best bitcoin betting site much more easily, as well as enjoy greater flexibility and convenience in funding their accounts and withdrawing winnings.

The evolving regulatory landscape poses both opportunities and challenges for Bitcoin. Regulatory frameworks are being developed to provide consumer protection, prevent money laundering, and ensure compliance with existing financial regulations. Striking a balance between innovation and compliance will be crucial to foster a supportive regulatory environment for Bitcoin in service industries.

The rise of Bitcoin and other cryptocurrencies has the potential to disrupt traditional banking systems. As more individuals and businesses embrace decentralized digital currencies, the need for traditional banking services could diminish. This shift may require financial institutions to adapt their business models and explore partnerships or collaborations with the emerging cryptocurrency ecosystem.

Technological advancements are essential to address scalability concerns related to Bitcoin’s transaction throughput and network congestion. Solutions such as the Lightning Network, layer-two protocols, and improved consensus algorithms are being developed to enhance scalability and transaction efficiency. Overcoming these technological challenges is vital for Bitcoin to meet the growing demand of service industries and maintain its relevance in an increasingly digital world.

Conclusion

Bitcoin’s journey into mainstream service industries has been marked by significant milestones and widespread acceptance. From its early days of skepticism and challenges, Bitcoin has overcome hurdles and gained recognition for its benefits in various sectors. The integration of Bitcoin into e-commerce, travel, hospitality, and financial services showcases its potential to revolutionize traditional payment systems.

Looking ahead, continued development and innovation will be key to sustaining Bitcoin’s growth and addressing regulatory, scalability, and technological challenges. As Bitcoin becomes increasingly ingrained in service industries, its impact on global finance and the future of decentralized currencies is poised to reshape the way we transact and interact with the financial ecosystem.

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Edgegap partners with Zebedee to bring Bitcoin transactions to multiplayer games

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Edgegap partners with Zebedee to bring Bitcoin transactions to multiplayer games
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Edgegap in partnership with ZEBEDEE, the next generation payments-processor, announced that Edgegap’s server orchestration platform tailored for multiplayer games is now accessible to game developers utilizing ZEBEDEE’s payments platform. This latest partnership will join the vision of the two companies toward a unified and global marketplace accessible to all game makers and players.

ZEBEDEE’s fully programmable payments platform allows developers to send, receive and pay with Bitcoin in and outside their game, with transactions as small as $0.0002. The technology enables innovative payment-based mechanics, such as real-time micro-transactions based on actions the player takes in the game, with no fees and instant settlement. The nature of these transactions requires seamless connectivity with minimal latency and lag, making Edgegap’s flexible server orchestration a powerful proposition for developers and gamers alike.

Edgegap’s ever-expanding distributed cloud network with 450+ locations worldwide can handle any traffic volume through automation and rapid-scaling orchestration. Its proximity hosting technology deploys game instances in the optimal location to deliver near-zero latency regardless of players’ platform, location or internet access type. It is supported by the ultimate peace of mind – an industry best 99.9% availability.

“We’re thrilled to collaborate with ZEBEDEE to continue our mission to democratize access to distributed server orchestration. We hope this partnership will empower developers to confidently deploy their games worldwide with near-zero latency for a flawless multiplayer experience,”  said Mathieu Duperre, CEO of Edgegap.

“ZEBEDEE is proud to add Edgegap as part of its ecosystem of tools and products to give our developer partners on-demand access to premium multiplayer server infrastructure that can natively incorporate our own payments capabilities,” says Ben Cousens, Chief Strategy Officer at ZEBEDEE.

This marks the beginning of an ambitious partnership for the two companies, who detected a natural fit in their offerings and are committed to building innovative solutions targeting both game makers and gamers. As gaming continues to become more social and interaction-driven, flexible and instant global server infrastructure and flexible and global payments technology should come hand in hand. The new partnership between Edgegap and ZEBEDEE places both companies at the forefront of this innovation.

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