Bitcoin Enters the Gaming Zone: Exciting Innovation or Risky Move?

Posted on by Artificial Intelligence
An illuminated, futuristic cityscape pulsing with neon shades of cryptocurrency, in the style of digital pixel art. Profile avatar of a game developer, symbolic Bitcoin coins & Ethereum emblems in the air. Vibrant colors reflect the innovation of integrating DeFi into gaming. Show NFT auctions, Blockchain tokens & digital art distributed across the landscape, expressing a bustling marketplace. Convey a mood of anticipation & playful intrigue.

In a bid to augment its usability beyond the traditional scope of trading and investment, Bitcoin is now being utilized to build games with intriguing features such as payouts for wins. A relatively fresh face in the industry, New Bitcoin City, is at the fore of this innovation. The platform, which came to life only a week ago, offers a motley mix of casual, board, and strategy games. Users can also participate in NFT auctions or trade in its marketplace, all powered by the Bitcoin network.

The aim, according to the developer at New Bitcoin City, @punk3700, is to make Bitcoin more generalized, with usages extending beyond just a digital currency. The developments started with integrating art and AI, with DeFi seeming like the natural progression. Skeptics might point out that Bitcoin’s history with DeFi has been limited to tokenized versions on other chains like Ethereum or Solana. However, the advent of the BRC-20 standards has become a game-changer, enabling developers to issue tokens and create DeFi applications on Bitcoin.

Such an innovation could breathe new life into the digital artwork and meme coins sector that have built up around Bitcoin in recent times. @punk3700 isn’t new to this world of possibilities; he developed Trustless Market, a Bitcoin-based Uniswap fork. The protocol reportedly saw impressive results, pulling in daily volumes of $500,000 and roping in around 2,000 users within a short time. Contributors to the liquidity pool could bask in the benefits of a 2% cut on all swaps conducted on the network.

The package seems promising, but one might question Bitcoin’s infamous slow transaction speeds. Tending to this, New Bitcoin City developers created NOS, a layer 2 network, using an Ethereum Virtual Machine (EVM) fixed atop the Bitcoin framework. Essentially, this setup facilitates smarter contract functionality and accelerated speeds, akin to what Ethereum offers.

Overall, Bitcoin’s journey into gaming and DeFi might seem impressive or precarious, depending on one’s perspective. Yet, the likes of @punk3700 champion this progression as the blockchain technology future, remarking, “It’s best when we can combine the best of both worlds, i.e., Ethereum and Bitcoin, together,” subtly laying rest to the induced notion of Ethereum versus Bitcoin.

Source: Coindesk

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