Data show that the worldwide digital currency market values at approximately 300 billion US dollars, with 20 million global digital currency users. In comparison, there are 4 billion internet users, thus making the penetration rate of digital currency users at 0.5%. Most cryptocurrencies can only be used for trading purposes, while lacking practical application scenarios. Attempting to engage more users through the internet presents a challenge to the many developers of the blockchain technology.
As the top conference in the Chinese game industry, the CGDC held a special topic based on the development of blockchain games. He Xiaoxing attended and shared his thoughts on how to make a blockchain game successful.
Games have been considered one of the most accessible scenes in the blockchain world. With the emergence of hot products such as " CrpytoKitties" and "Fomo3D", blockchain games constantly evolve in controversy.
Summarizing the success of these products, as well as the experience of operating a platform with more than 10 million active users per day, PlayBlock's He Xiaoxing believes that a blockchain game that wants to succeed should have a good user experience, bring its own topicality, and be technologically innovative.
In order to attract new users, developers must make the content interesting and appealing; while to retain them, developers must provide a good user experience. Reliance upon a decentralized blockchain server set-up will signal the reconstruction of intra-game relationships, heralding an environmental overhaul to the preexisting market.
The following is a compilation of He Xiaoxing's speech in this forum:
Hello, everyone, I am He Xiaoxing, co-founder of PlayBlock, a firm that specializes in entertainment-oriented content on the public blockchain. I have some opinions to share with you on the topic of the development of the recent batch of highly popular blockchain games.
First, allow me to introduce our team. PlayBlock's team consists mainly of graduates from Tsinghua University and Peking University with over ten years of experience as application and product developers. Our key team members started to engage in the research of blockchain technology in 2013. They designed and led the production of a hit game with more than 300 million registered users, accumulating revenue of more than 15 billion yuan, and put together a highly collaborative development team of more than 100 professionals who have simultaneously addressed problems while maintaining an online population of 5 million players without any server down-time. The team developed their first public blockchain in 2017.
At present, Bitcoin and Ethereum TPS (transactions per second) are about 7 and 25 respectively, and therefore cannot support the high concurrency ratios required by online games. The current consensus mechanism for Bitcoin and Ethereum is Proof-of-Work (POW), and having such drawbacks as the high level of energy consumed over the related cost. The same is true for verticals, as there has not yet been a public blockchain that matches the attributes required for transmission and concurrency.
The PlayBlock public chain collaborated with a scientific research team from Tsinghua University to create a new consensus algorithm based on the latest Gosig consensus protocol. The new consensus algorithm permits tens of thousands of nodes to participate in the consensus process on the public blockchain. In a simulation test run in May, the team recorded a TPS of more than 25,000 while maintaining a better balance between de-centralization, security, and performance.
In the future, PlayBlock will continue to collaborate with leading institutions at home and abroad to continuously update the underlying technology. We have a surprise in store. In August, we will announce a significant partnership where we will be cooperating with a global research team to push beyond the current boundaries of the public blockchain's performance.
The recent launch and rise of "CryptoKitties", "Fomo3D" and other prediction-based blockchain games has been followed by admirers and copycats. However, I'm here to throw cold water upon that idea. At present, the majority of products receiving a lot of attention have merely copied and transplanted the once-popular model apparent in the early days of the internet market. A combination of the model and simple blockchain technologies was used to leverage market opportunities in a timely manner. During the worldwide popular soccer game in June and July, several blockchain teams rolled out products designed to predict match results, as a way of helping to verify and promote the value system of tokens.
PlayBlock also launched the community decentralized application (DApp) "Little P Tribe". In addition to using tokens to participate in predicting the soccer game results and mining, the user made two attempts. One is that the application runs completely in the decentralized blockchain server, from "opening small P" and sending out any instructions from the blockchain server, all commands take place and are fed back to users on the server. Both the football match sessions and the predicted behavior of the users are relatively centralized. People who are familiar with the public blockchain know that that high concurrency is a challenge to the blockchain technology. We are also optimizing the technology according to actual behavior. Compared to other products of the same type, we try to enrich the product operation by having live streamers provide interesting cultural tidbits about Russia during game interval in the soccer game quarter finals, engaging users to participate in the prediction behavior. The content is recommended on the homepage of several live broadcast platform such as Huya.com, with more than 1 million participants. Since the beginning of the World Cup, we attracted more than 10,000 users, with a following-day retention rate of 80% and a following-week retention rate of 60%.
Following the soccer game in Russia, "Little P tribe" added entertainment element on top of results predicted by the users on the platform. Aside from sports, we also added the comparison of the Baidu Index for popular variety shows and artists, as well as financial market outlooks. This application continuously receives positive feedback from users and utilizes their feedback to predictively generate better results, create more fun products, and better reflecting market trends.
PlayBlock is actively developing the public blockchain and insisting on the exploration and development of products. Because the blockchain is a highly complex competition industry, it can be asserted that teams without a deep understanding of the content cannot successfully develop a blockchain project, nor can anyone develop good content without the technical expertise.
As part of its development plan, PlayBlock plans to launch PlayBlock TestNet 1.0 during this year. The test network will fully demonstrate the advanced nature of the PlayBlock consensus algorithm. At the same time, PlayBlock will cooperate with the pan-entertainment industry and cooperate with developers to explore methods of integrating decentralized applications within games. It is expected that there will be games, predictions, copyright transactions, multiple scenes, and a gradual improvement in the entertainment content of PlayBlock. If blockchain can change the way productions are made, there remains a huge potential in blockchain and the upper limit of the internet is only the lower limit of the blockchain. We welcome anyone who has a passion and belief in the blockchain technology to join along with PlayBlock to launch a richer blockchain entertainment experience.
As a veteran in internet products and the blockchain industry, the above are some opinions I would like to share with you. Thank you.
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