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500 Video Games Are Now Accessible With the New Altcoin
The MobileGO company is aiming to make the esports industry more reliable and transparent with its new MGO token. It can reportedly enhance options for developers to monetize their gaming products, resolve financial and security issues for professional gamers, along with providing a more convenient payment system for ordinary players.
The global games market is estimated to be worth almost $180 billion in 2018, with more than 2.1 billion users worldwide. Around 380,000 of them are esport fans. The term esport refers to a skill-based competitive gaming at a professional level and in an organized format, with a specific goal. It creates a high demand for more sophisticated and secure, economic and financial serviсes in the gaming industry, as currently there are several bottlenecks.
The process of receiving funds may lack transparency, some tournaments require an entry fee. Other platforms charge high commission fees for withdrawing funds. Gamers may face different types of fraud or cheating, or even suffer from hacks. And most tournaments are basically centralized, meaning that companies have power over the community.
That’s where blockchain climbs the stage. MGO is compatible with smart contracts that can enhance the transparency and accuracy of transactions, according to a corporate blog. Utilizing smart contracts, prizes can be automatically distributed according to prescribed rules without any alteration. The money is only released after the correct fulfillment of a smart contract.
Developers can make financial components of their games more flexible,