Blockchain is steadily gaining ground as an innovative technology that global industries can use to build applications and platforms that can help improve current systems and processes, reduce costs from third-party contractors, maximize profits, and create next-generation platforms and applications.
However, not all blockchains are equipped with the ability to scale to efficiently handle big data needs. Imagine the collective amount of data being generated on a daily basis by a global enterprise, such as Walmart or Toyota.
Now, imagine all of its data being stored on the blockchain, such as supply chain, inventory, accounting and customer records. A blockchain needs to be scaled to be able to accommodate such massive amounts of data without crashing or causing failed transactions.
Scaling is especially relevant for online platforms, such as gaming and eSports, because they generate a huge amount of data as almost everything is based and stored online. For eSports on blockchain to work efficiently, a scalable blockchain with a stable protocol is needed. Enter BSV blockchain.
The BSV Blockchain
The BSV blockchain is the largest public blockchain that has both a stable protocol and the capacity for limitless scaling. These are the two most important aspects that should be considered when choosing a blockchain to build on.
After restoring the original Bitcoin protocol, BSV has also set it in stone, which means that it will not be changed unless absolutely necessary. This means that the BSV blockchain has a rock-solid foundation on which developers can build whatever applications or platforms they need without having to worry about protocol changes that ultimately lead to added cost due to downtime, business interruption and system upgrades.
Limitless scaling means that there is no limit to data block size and throughput of the BSV blockchain. To make it more concrete, BTC is at a 1MB block cap and throughput of only seven transactions per second at a current average fee of $1.9 per transaction, while BSV is already preparing to increase its block size once again to 4GB and further boost its throughput to over 100,000 tps with the release of the Teranode project at fees of minute fractions of a cent per transaction.
Because of its stable protocol and capability for limitless scaling, coupled with the lowest transaction fees in the market, the BSV blockchain is ab le to provide utmost utility to all kinds of businesses from different industries. And so, it is not surprising that hundreds of businesses, such as Built by Gamers, have chosen it to build their innovative platforms on.
“Ultimately, for us, the utility of what blockchain can do is what’s critical. Also, I would say the community involved is critical as well. If you have a community that’s not growing, that’s not robust, that’s not investing, it would have been very challenging for us to stake our ground and put our efforts into this. All of those things led us to the BSV blockchain,” Chief Marketing Officer for Built by Gamers Tyler Farnsworth said in an interview with Bitcoin Association.
eSports on Blockchain
Built by Gamers, an eSports organization based in North America that is composed of gaming influencers, creators and professional teams for Fortnite, Valorant, Halo Infinite and Apex Legends, sees eSports on blockchain as the door that will open the future of next-generation gaming. And this is why Built by Gamers is going to build interactive applications and game-centric platforms built on the BSV blockchain that gaming fans and players can use.
“The BSV ecosystem really unlocks our ability to achieve our goals. So as an esports organization, we want to engage fans, create loyal communities of fans, give them unique experiences. That’s what will set us apart from our competitors in the industry. The BSV blockchain really unlocks things that haven’t existed before,” Built by Gamers Strategic Advisor Taylor Searle explained.
One of the things that the BSV blockchain can help Built by Gamers unlock is its ability to be able to facilitate global leaderboards, allowing fans to become gamers themselves by receiving rewards for their loyalty, interaction and participation in various activities.
“Imagine a leaderboard with a top 10 list of superfans based on how fast they react to our social media posts, whether they engage in sponsorship events, come to live events and get extra bonus points. But imagine this top 10 leaderboard of fans and how that gamifies this fan experience to say, “Hey, I want to be a top fan”, because if you’re in the top 10 of all fans, you have perks. You might be able to get access to special events, you might be able to interact with players or play with them. We can create a whole bunch of fan perks that go to people at the top of the leaderboard,” Searle pointed out.
Built by Gamers is also planning to fully take advantage of the BSV ecosystem by integrating BSV wallet HandCash into its services. In this way, all future offerings of Built by Gamers, which includes gaming NFTs, can easily be accessed by its users. It creates a one-stop shop for everything Built by Gamers users will need.
“The goal is: let’s have everyone in our entire community have a HandCash wallet and every platform in this ecosystem integrated with HandCash, so that using HandCash, someone can use it as their identity provider to just log in, single sign-on, automatically to all these different platforms and be able to have this Duro economy, and then bring in NFTY Jigs to have their digital items working the same way,” Farnsworth revealed.
The potential for innovation is limitless when it comes to a technology that is created, improved and scaled the right way. There will be no need for second- or third-tier solutions to compensate for an unscalable blockchain, like what ETH is always doing, when the base layer is already stable and scalable.