The micro transactions made possible via the Lightning Network have finally found a new use case in the gaming world. Satoshi’s Games made the announcement via a tweet. The game, which is called Lightnite utilizes the micro-payments possible via the Lightning Network. During the game, BTC matched to in-game points is debited and credited to players.
About Lightnite
The Lightnite game is a multiplayer battle royale game that rewards or penalizes players with BTC for specific digital interactions. In short, players will get BTC if they shoot other players and lose BTC if other players shoot them.
It is also possible to make purchases of in-game items using the BTC held in their wallet or based on the balance they have in-game. To access the Lightning Network, Satoshi’s Games recommends that users use the Bluewallet.
The growing prominence of the Bitcoin Lightning Network has caught the eye of major players in the gaming sector. It has led to speculation that major gaming developers could one day consider BTC integration into their games. The company that does it first will make a lasting impact on the gaming industry.
However, only Ethereum has thus far made a serious development that links the gaming world to cryptocurrencies. However, this takes place on the main blockchain, which usually slows down the entire network and leads to higher transaction fees. Other networks are trying their hand in blockchain gaming but their coins usually have low volumes and high volatility.
Bitcoin LN is helping to Increase Adoption of Crypto
Satoshi’s Games is now part of an elite group of companies that are using the Lightning Network to onboard newbies into the BTC ecosystem. The creation of lightnite comes at a time when numerous startups are finding new and interesting use cases for LN. While Satoshi’s Games requires users to upload BTC to LN, there are already firms that are testing options that allow fiat-to-lightning transactions.
The Lightning Network has a lot of potential for the growth of BTC use. While it has a lower capacity than the main BTC Network, it offers higher speeds and lower fees. While the LN has a higher risk compared to using the BTC blockchain, the small amounts that are allowed on the network match the risk associated with it. Since LN was launched, it has diversified the payment channels. Today, the pathways are no longer in the hands of a few people who control multiple nodes.
Gaming and Blockchain Sector
The gaming world is worth billions of dollars and it is expected to continue growing for many years to come. With blockchain integration, the industry could become much more valuable. For instance, the blockchain could help to reduce fraud in the gaming world, which costs the industry billions of dollars annually.
Another benefit is that using crypto and blockchain technology could help lower transaction fees. This would be by eliminating third-party fees charged by payment processors and banks. Besides that, it has some potential use cases for storage and security. Users could simply store the private keys to their tokenized items offline, which will help eliminate theft. The most obvious use case is that it makes gaming fun. The gaming industry has never witnessed an environment where users can obtain a reward ( Bitcoin ) that can potentially grow in value in the future. It opens up the doors for all sorts of opportunities for the Blockchain gaming industry.
Image Source: Light Nite Medium Page
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