March 20th, 2018 at 8:29 pm UTC · 4 min read
Since the first years of Bitcoin, online gaming has always been a focus of a number of cryptocurrency initiatives and developments. However, due to many issues previously unaddressed, such as speed, cost, and scalability, existing projects have largely failed to incorporate blockchain technology into video games in any significant way.
Fortunately, there is an emerging platform, Chimaera, that seeks to penetrate this hundred billion dollar industry through a revolutionary approach. Unlike existing projects, Chimaera (CHI) is creating a custom blockchain ecosystem that will allow games to run, serverless, directly on top of its custom blockchain.
Virtual gaming startup Chimaera is gearing up for their public presale, starting 23 March 2018. Participants in this token generation event will have the opportunity to purchase Chimaera’s native CHI coin. CHI fuels all transactions on the blockchain as well as transactions between the blockchain and game channels.
The token event will play host to three bonus rounds; participants will have the opportunity to secure a 30% Discount in the presale and a 15% Discount in the first main stage.
While other initiatives may provide interesting approaches to this massive industry, these attempts have been limited in scope and capacity mainly just a system of virtual asset trading.
Chimaera, on the other hand, is forging a revolutionary technology coined “game channels” which represents a gamified adaptation of Lightning Network developments. Game channels is an idea first introduced by Chimaera’s lead developer, Dr. Daniel Kraft, on Bitcointalk in 2015 and explained thoroughly through a peer-reviewed 2016 Ledger journal entry.
With game channels, players can connect to one another and game worlds directly on the Chimaera blockchain. Without a central server, game developers pay nothing for server upkeep. Additionally, as gaming takes places on the immutable blockchain ledger, players are automatically protected from cheaters, and no human moderation is required.
As all gaming takes place on the custom Chimaera blockchain, gamers subsequently maintain real and liquid ownership of all their in-game currencies, assets, and characters. As a result, players are free to transfer and trade items between different games and players, as well as buy and sell them for real-world currency.
This ecosystem enables a Play-to-Earn framework for all gamers, and potentially a paradigm shift in the way games are played. For the first time in the history of video games, players can take part in an ecosystem where their virtual labors and successes translate to real profit. This profit can be utilized to purchase other games and gear, or even cashed out completely.
Not only does this ecosystem empower gamers to profit, but it also eliminates sunk costs associated with a player losing interest in a game or merely transitioning from one game to another.
While the underlying technology and solutions Chimaera provides are undoubtedly exciting, what’s just as impressive is what’s behind the project. Chimaera consists of a stellar team of industry leaders and cryptocurrency veterans.
As mentioned previously, Dr. Kraft is the inventor of the underlying game channels technology behind the platform. Additionally, Kraft is one of the top contributors to the Bitcoin Core codebase, and was also a lead developer of Namecoin- the cryptocurrency from which the Chimaera blockchain is forked from.
Apart from Kraft, many team members represent successful backgrounds with decades of experience developing indie and triple-A titles alike. Some of these members have worked in powerhouse gaming studios such as EA and Square Enix. Major games they have worked on include Command and Conquer and Medal of Honor, and games representing popular IP’s, such as Star Trek and the Walking Dead.
The development of Chimaera precedes that of most of the major altcoins. The Chimaera team initially worked to create Huntercoin, a revolutionary project launched in 2013 that represented the first game propagated directly on the blockchain. Chimaera is essentially the evolution of this prototype- an environment that can apply this approach to a vast array of online game.
Disclaimer: Chimaera is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest