Blockchain Gaming: Fantasy Sports From GamyFi To Be Deployed On Elrond
The popularity of online gaming has been steadily growing over the last decade and literally skyrocketed in recent years. More and more people engage with virtual spaces, looking for entertainment, earnings, or both.
Blockchain tech enhances several important aspects of online gaming, such as transparency, ownership or monetization. But the speed and cost of current blockchain implementations are limiting the extent to which games can benefit from decentralization.
The Elrond blockchain’s high throughput, low latency and inexpensive transactions lends itself perfectly to blockchain gaming. This is why we are excited to announce that GamyFi will deploy their Fantasy Sports Games on our mainnet, to include Football, Rugby and Cricket games.
“The Elrond mainnet is ideally positioned to simultaneously engage millions of gamers worldwide at the speeds they are accustomed to. We’re happy to step into the Fantasy Sports world together with GamyFi.” said Beniamin Mincu, Elrond CEO.
GamyFi is a blockchain-based eSports and gaming platform which incentivizes gamers and sports enthusiasts for their skills and knowledge, enabling them to earn rewards in the process. By adding decentralization into their platform, GamyFi is keeping it fair for all.
The collaboration will focus on GamyFi deploying Fantasy Games such as Football, Rugby and Cricket to the Elrond mainnet. These types of games require many transactions to be done over short periods of time, and Elrond’s high throughput and inexpensive and relayed transactions are a perfect match.
“We were impressed with Elrond’s care for UX, which is evident in everything they do. We share that ethos and want to give our customers the best possible experience when engaging with our products, so Elrond’s high throughput blockchain is a perfect fit for us.” said Satya Prakash Jena, GamyFi Head of Operations.
The collaboration is important for the Elrond ecosystem as it further expands our reach into the gaming vertical, which we see as strategic for the long term development of dApps and related edutainment and gamified applications.
Elrond is the internet-scale blockchain, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 15,000 transactions per second (TPS), with 6-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.
GamyFi is an E-Sports and Gaming Ecosystem containing a Fantasy sports app, Prediction Market, Lottery, PVP games, and NFT marketplace. GamyFi aims to be the global platform where users can interact with games and people from anywhere will be able to play without any boundaries or restrictions.
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