The popularity of online gaming has been rising for the last couple of years. Specifically, after the emergence of the global crisis of Covid 19, more people are staying at home and as a result the number of online players has risen greatly.
Analyses of the gaming industry dating from 2013 to 2020 show that the value of this market has more than doubled in less than 10 years; having gone from about 76 billion dollars in 2013 to more than 180 billion dollars in 2020.
But, with the increase in the number of online players, there will be some expected issues. Among these, we can refer to issues with safety, security, and of course scalability.
What can solve this issue? Of course, Blockchain technology. This technology can help improve all the aspects of the existing online gaming industry. This includes security, privacy, efficiency, and scalability. Altogether, this will mean a very large number of players will be able to take part in online gaming with ease of mind.
Xbit project has come fore with regard to this very issue. Xbit intends to incorporate Blockchain technology into gaming industry.
Online Gaming Industries Needs Some Changes
As the industry has turned into one of the biggest across the world, reeling in hundreds of billions of dollars in revenue and billions in players, its issues have also grown.
Online gaming analysts consider lack of privacy, decentralization, and efficiency to be among these issues. What’s the solution? Of course, Blockchain technology.
Xbit is a cryptocurrency that has been developed for the online casino Xbit. This online casino has all the official and necessary permits and license. Casino Xbit is operated by Bit Gaming LLC, which is registered in The St. Vincent and the Grenadines.
Xbit, with the exclusive code coin of XBT, is a coin that has been developed based on the SHA-256 algorithm, which is the same algorithm that has been used in the development of another major cryptocurrency; Bitcoin.
Xbit coins offer many values and benefits for the owners and players. Users can use Xbit to play games and make deposits at the online Xbit casino, and also, they can use this coin as a financial tool to transfer money.
As was mentioned, Xbit has been developed to be used in online gaming, and specifically for the online Casino Xbit. In this way, Xbit coins are considered to be representative of revenue shares of casino Xbit.
Players and anyone who has these coins will receive benefit and interest from the casino, through the coins as representatives of revenue shares. Xbit is a coin that creates wealth and value through generation of wealth.
Additionally, users can stake Xbit.
By staking Xbit coins, users can receive an annual return of 5 percent, which is regarded to be quite a considerable return in international scales.
In this method the coins are frozen and are not transferable. For each year of staking, 5% return is given to the owners.
With the staking of coins, their distribution at exchanges will decrease. As a result the price of coins will increase. So this is another way in which owners and coin holders will benefit from the staking process of the Xbit coins.
Future of Gaming Is Blockchain
The Blockchain technology is one of the most comprehensive technologies developed to date. It can be used in various sectors, such as finances, banking, health care, land registry, transportation, and of course, gaming.
Blockchain can bring levels of transparency, privacy, security, efficiency, and decentralization to the gaming industry like never before.
Xbit Coin is a cryptocurrency with an independent Blockchain network that can bring all of those advantages for players.