ETH-based crypto games, in fact, meet the definitions of gambling according to recent research by the University of York. Let’s read more in the ethereum news below.
This week, the university published an article saying that the nine highest-ranked ethereum dapps games listed on State of the Dapps which is a directory of dapps, and found that they meet all criteria of gambling. The research paper which will be presented at the CHI Play conference in Barcelona, explains that the ETH-based crypto games are video games with a fully or partially distributed ledger architecture that runs on top of a cryptocurrency network. The players are provided with provable ownership over the virtual goods.
The studied games consist of more than 16,000 player accounts and the article says that this number is a niche phenomenon when compared to the gaming industry in general. The researchers chose Ethereum because it is the oldest-dapp supporting cryptocurrency and has the most well-established network as measured by market capitalization. The researchers investigated the gameplay mechanics and also checked the data to see the way in which these players have been spending crypto in the game. To each of the games, they applied the combination of legal and psychological definitions of gambling.
The psychological definition focuses on the behavior enabled by the activity, while the legal one focuses on the financial components of the outcomes. They also found “that all of the games in the sample meet our combined definition.”
The games allow the players to exchange virtual goods for cryptocurrency which can later be exchanged for fiat money. As in many online games, the crypto-games allow the players to trade or auction in-game items in exchange for in-game currency. Unlike most free games, the crypto ones that have in-game currencies, are often exchangeable and can be used to pay for other goods and services. As the Ph.D. student in Computer Science Oliver Scholten stated:
“Unlike games with loot boxes, all crypto-games in the study allowed the direct or indirect exchange of in-game items for real money, making them more readily fit criteria of gambling. All this doesn’t mean that the technology should not be used to build games on, but that “designers need to think carefully about how their decisions may affect player spending.”
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‘’E3 is related to eth algorithm, and DDR capacity is up to the upper limit, so E3 will not be able to continue mining (...) the meaning is E3 only can mine to January 2020, then will not mine again.’’2Miners calculated that Ethereum (ETH) mining will be terminated in about five weeks as it is a few epochs later than the older version. Among the first speakers within the crypto community that discussed the story was the author of Ethereum’s mining algorithm Kristy-Leigh Minehan who considered that this could lead to the launch of more capable miners. Bitmain is more focused on Bitcoin mining solutions and Mrs. Minehan suggested waiting for the release of the main competitors Canaan and Innoscilion. As per the previous reports, The hashrate is one of the metrics that can assess how healthy a network is. The higher the hashrate, the more secure a network will become and it also becomes much expensive to mine the cryptocurrency. Ethereum Classic saw its hashrate explode previously during a sign of growing strength so the ETC network is arguable now more secure than ever before.
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“I have not seen any evidence that there is an ideological or people willing to step up and actually have a network split. If I’m wrong I’ll resign as hardfork coordinator.’’Ethereum split once before with the ‘’DAO’’ which was the first attempt to a so called decentralized autonomous organization where more than 3.6 million ETH was exploited. Core developers decided to refund the affected users and the dissenters later formed Ethereum Classic in response. At least two projects were opposed to ProgPOW including SpanChain and the Gnosis projects. The executives of the projects were invited to voice their concerns about the next core developer meeting but this will likely won’t change the decision of the team: “There will be plenty of time for open dissent that won’t really change the decision, necessarily, because we’ve already gone back and forth and approved it twice.” ASIC resistance was a core consideration for Ethereum and the first version of the whitepaper explained how the distribution process of Ethereum will be performed through easily-accessible computer hardware which was more favorable for the community and the decentralization of the token. The leading mining hardware firm Bitmain developed an Ethereum ASIC in 2018 and in 2019 Canaan released an ASIC that was 5 times more efficient than comparable consumer hardware.
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“Simple, great user experience is one of the core product design philosophies at Enjin, and we made damn sure that the Web Panel is minimal, straightforward, and clean.’’The process of creating a new blockchain project is not so complex and it can be done in four steps. The process doesn’t require any coding knowledge but while the Enjin platform web panel enables the codeless creation and management of the blockchain assets, the developers will have to employ Enjin platform API and SDKs when the time will come to integrate those assets with games and apps. The platform API is graphQL based while the Platform SDKs include Java, NODEJS, Godot and Unity. According to the company, the Enjin platform will be powered by Enjin Coin and will serve as the ultimate minting resource and used to back the value of the issued blockchain assets. While the Enjin platform is a relatively new platform, the company was present in the crypto space for more than 10 years. Enjin’s huge ecosystem is preferred among gamers and with partnerships with major companies such as Unity, Samsung, and PC Gamer, the platform has a strong presence in the gaming industry. When it comes to future plans, the company said to be working on a new way to distribute blockchain assets via QR codes.
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