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Blockchain Game Featuring In-Game Sidechain and Delegated Proof of Stake Adopts ERC-1155


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Game studio Thoughts in Motion, Corp. has announced its end-to-end blockchain role-playing fighting game CryptoFights will adopt Enjin Coin’s platform to create in-game items using the next-generation ERC-1155 token standard. CryptoFights has broken new blockchain gaming barriers with the use of Delegated Proof of Stake, a democratic consensus system that yields high performance gameplay and enables trustless, secure state changes for rounds. CryptoFights’ game client communicates with a decentralized sidechain backend and doesn’t depend on centralized servers for operation.

CryptoFights, an innovative 1vs1 role-playing fighting game by Thoughts in Motion, utilizes blockchain technology to manage in-game assets and gameplay. Featuring serverless gameplay, CryptoFights uses a sidechain to enable high performance gaming while securing game assets on the Ethereum mainchain. It can be described as a turn-based Street Fighter, with interchangeable weapons and armor providing a real-time strategic advantage to players who outmatch their opponents.

The trustless gaming architecture of CryptoFights utilizes blockchain validation to prevent cheating and provide transparency. End-to-end integration of blockchain technology into its game mechanics and economics makes CryptoFights one of the most ambitious blockchain gaming projects in development.

CryptoFights will utilize the ERC-1155 Crypto Items Standard to mint in-game assets on the Ethereum blockchain. This groundbreaking new token standard has recently made headlines given its potential to replace ERC-20 and ERC-721. Created by cryptocurrency project Enjin Coin (ENJ), ERC-1155 offers the flexibility to create fungible, non-fungible, and semi-fungible tokens. It also enables developers to place the majority of their code into one core contract and use identifiers to prompt an infinite number of tokens to draw from that single set of source code. This monolithic approach to code distribution will not only serve to drastically cut down the vast sums of redundant code copy-pasted into every token; it will also reduce gas costs by up to 90% when deploying the hundreds of tokens used by most games.

CryptoFights will also use Enjin Coin to back the value of their items, meaning in-game items, represented by ERC-1155 tokens, will contain an amount of ENJ that users can later retrieve by “melting” their items. Users can also buy, sell, and trade their ERC-1155 tokens through third-party platforms, while CryptoFights is able to monetize these external peer-to-peer marketplaces with transaction fees automatically obtained and allocated using Enjin Coin’s smart contracts.

Using ERC-1155, CryptoFights can also save on gas fees by bundling transactions. For example, on June 24, Enjin Coin’s developers became the first team to conduct an on-chain transaction with more than one class of token. In a single transaction containing 102 different token types, Enjin Coin developers sent 10,000 ENJ-branded ERC-1155 tokens (to simulate cryptocurrency), 500 “Gold Coins” (to simulate in-game currency), and 100 one-of-a-kind items (to simulate unique in-game items). The total gas cost for this complex transaction was just $2.42.

Join the CryptoFights community: https://discordapp.com/invite/EJrMsHW

Contact:

Adam Kling

Founder

[email protected]

https://cryptofights.io

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Is Demand For Bitcoin Mining in Decline? Chip Maker Slashes Target

Taiwan Semiconductor Manufacturing Co. (TSMC), the world’s largest dedicated independent chipmaker, has predicted a drop in demand from the cryptocurrency mining community in the fourth quarter this year. The growth target of 7 to 9 percent was slashed to 6.5 percent partly due to the demand dynamics of bitcoin miners. Crypto Mining Demand For TSMC Chips to Weaken Further In Q4 2018, Says CEO C. C. Wei, Chief Executive Officer and Vice Chairman of TSMC told investors at the company’s third quarter 2018 earnings conference that business growth would be offset by “continued weakness in cryptocurrency mining demand”. “Moving into fourth quarter, despite the current market uncertainties, our business will benefit from the continuous steep ramp of7-nanometer for several high-end smartphones as well as the demand for 16/12-nanometer for the launches of new-generation GPU andAI. However, this growth will be partially offset by continued weakness in cryptocurrency mining demand and inventory management byour customers.” The company forecasts growth between 5 and 7 percent for the overall semiconductor market excluding memory, while foundry is expected to grow between 6% and 7%. Weakening demand from cryptocurrency miners has forced the firm to adjust the growth estimate to 6.5 percent in U.S. dollar terms, according to the chief executive. “However, our business is also negatively impacted by further weakening of cryptocurrency mining demand. As a result, we estimate our 2018 growth rate will be about 6.5% in U.S. dollar term, which is close to the foundry industry’s growth but slightly below our 7% to 9% guidance given in the last conference.” The downshift in mining profits is the main responsible for the company’s revision of its full-year sales target, citing uncertainty in the cryptocurrency market as its reason. In April, the Taiwan Semiconductor Manufacturing Company lowered its 2018 revenue guidance to 10% growth from 10-15%, estimating that about 10% of the Asian chipmaker’s revenue depends on cryptocurrency mining demand. Moreover, the entrance of Samsung in the global cryptocurrency mining sector could be providing TSMC their first real competitor in the sector, which in turn, may eventually push the company to lower its sales targets in years to come. Samsung has started the production phase of bitcoin and cryptocurrency mining equipment and ASIC mining chips earlier this year. The company intended to manufacture GPU miners for miners targeting small cryptocurrencies in the upcoming months. President Trump’s trade tariffs, on the other hand, may hurt future trade volumes of Chinese companies producing cryptocurrency mining hardware. This may eventually benefit TSMC as competitors from the People’s Republic of China will have a hard time in the race for the U.S. market. The post Is Demand For Bitcoin Mining in Decline? Chip Maker Slashes Target appeared first on NewsBTC.

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