Altcoin

EOS Will get a Increase on Chinese language TV, However Critics Worry Centralization

EOS obtained a significant enhance in consciousness this week because of a Chinese language tv present that featured a well-liked blockchain RPG referred to as Crypto Sword & Magic.

“ICS Cash Talks,” the one English-language enterprise program in China, aired the piece with a definite view in direction of the huge potential of blockchain gaming.

Tokenized gaming opens up a complete new income stream for devoted gamers and complicated merchants alike. As cryptocurrency – and now recreation token – dealer Ricky Shi explains, what was as soon as solely a interest has now develop into a profitable new approach to alternate worth:

“I’ve spent quite a bit on blockchain video games, greater than ¥100,000 (~$14,000) however solely few cryptocurrency tokens. You don’t notice you paid quite a bit since you solely want a couple of tokens to play a recreation. However these tokens may be price greater than ¥10,000 (~$1,400).”

Large Potential within the Blockchain Gaming Area

Players and area of interest builders aren’t the one ones cashing in on the rising craze. As ICS highlights, the multinational funding conglomerate Tencent Holdings is bankrolling its personal high-profile video games that reward gamers utilizing blockchain expertise.

For now, these rewards seem like solely within the type of digital property. The timing couldn’t be extra fortuitous. AAA gaming continues to backslide on account of rapacious monetization schemes like NBA 2K20’s infamous little one playing promotion.

Crypto Sword & Magic has a good variety of energetic each day customers | Supply: DappRadar

The outcome could also be continued migration in direction of blockchain options as players get away seeking significant rewards. Happily for EOS followers, gaming dApps are steadily gaining steam.

DappRadar illustrates this trending progress with a wholesome quantity of energetic customers and corresponding EOS transactions as well. However there’s nonetheless clearly loads of room for progress.

Are We Dealing With a New EOS Crypto Oligarchy?

Nonetheless, critics warn that EOS’ rising profile in China is indicative of one thing much more sinister than mass adoption: centralization.

Wikipedia co-founder and Everipedia CIO Larry Singer, for one, isn’t proud of the present state of EOS management, which he says is way too concentrated in authoritarian China.

And right here’s why. Based on various staking sources, main Chinese language EOS block producers outnumber their US counterparts by greater than three to 1.

There are 10 EOS Chinese language block producers within the high 21 whereas the U.S. and Singapore every have three | Supply: AlohaEOS

Sanger and different critics like Brock Pierce allege that centralization, coupled with vote-buying allegations, dangers corrupting EOS governance.

Nonetheless, EOS supporters would possibly retort that actual decentralization is a pipe dream. There are 195 international locations on this planet – and solely 21 EOS block producers.

Till the mathematics matches, token holders are simply going to need to stay with that actuality or discover one other blockchain governance mannequin that fits them higher.

Final modified: September 1, 2019 20:13 UTC

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