Citizen Finance - explore The emerging Blockchain Technology
Citizen Finance is an amazing revolution to the introduction to GameFi and true ownership of in-game assets. While acting as a bridge between the world of traditional gaming and blockchain, Citizen Finance will create a platform where players are the true owners of their in-game assets, they can stake it, resell it, gift it or simply use it as collateral.
What is Blockchain technology?
Citizen Finance will be introducing new concepts and utilities for in-game assets using blockchain technology. Blockchain technology is a structure that stores transactional records, also known as the block, of the public in several databases, known as the “chain,” in a network connected through peer-to-peer nodes. Typically, this storage is referred to as a ‘digital ledger. Blockchain technology has enabled some games to introduce true ownership of in-game assets but the utilities for this new concept are still small and have no real impact on the industry.
Core Features of Citizen Finance
BINANCE SMART CHAIN
The block time of the Binance Smart Chain is three seconds compared to 13 seconds on the Ethereum blockchain. This means that the BSC has faster throughput and transaction times but has much higher data storage requirements. It is a new blockchain with a full-fledged environment for developing high-performance decentralized applications. It was built for cross-chain compatibility with Binance Chain to ensure that users get the best of both worlds.
First Person Shooter
First-person shooter (FPS) is a video game genre centered on gun and other weapon-based combat in a first-person perspective; that is, the player experiences the action through the eyes of the protagonist. The genre shares common traits with other shooter games, which in turn makes it fall under the heading action game. Since the genre’s inception, advanced 3D and pseudo-3D graphics have challenged hardware development, and multiplayer gaming has been integral.
Non-Fungible Token
NFTs are not a new concept and the first NFT-like token was the introduction of Bitcoin 2.x (aka colored coins) in 2012. While not being a new concept, the launch of Cryptokitties - a blockchain-driven platform where players have the chance to collect and breed digital cats brought the attention of the world to this unique technology and thus began the NFT race. Cryptopunk was launched in 2017, the first project that aims to tokenize artwork using NFTs.
Traditional gaming Vs Blockchain technology gaming
one of the most prominent problems in the traditional video gaming industry is denial of property rights when it comes to in-game assets. Players are not the true owners of their in-game assets even if they had purchased it with in-game currency which in turn was purchased with fiat currency. What they can do with the asset is limited to the utilities of the game. The player lacks true control of their assets, can not derive income from it and also can not dispose of it.
Blockchain technology has enabled some games to introduce true ownership of in-game assets but the utility for this new concept is still small and has no real impact in the industry. Citizen Finance will be introducing new concepts and utilities for in-game assets using blockchain technology.
Advancements in Citizen Finance
Citizen Finance is trying to make advancements In the gaming industry where the decentralized, steady, and secure properties of blockchain can make it a popular tool as games and their growing assets become more complex. As developers build new games or in-game advancements, blockchain is set to improve the user experience through ownership, globalization, and more.
How can a Binance Smart chain can help Citizen finance?
Citizen Finance as a GameFi protocol offers players the option to withdraw their unused in-game assets (non-fungible token) and stake on decentralized pools where they can earn Ciphi (CIFI) token. This mechanism will result in frequent withdrawals and deposits in and out of the ecosystem in which users will spend a lot of gas fee. Adopting a blockchain with less gas fee and fast transaction was our primary need when choosing a blockchain.
Citizen Finance is introducing something new into the utilities of in-game assets. We decided to adopt the Binance smart chain network because it is easy to understand, low cost gas fee, fast transaction and also similar to the Ethereum blockchain.
Citizen Finance helps to explore the latent opportunities in blockchain Technology by creating gaming finance with its native tokens. One of the most prominent problems in the traditional video gaming industry is a denial of property rights when it comes to in-game assets. Players are not the true owners of their in-game assets even if they had purchased it with in-game currency which in turn was purchased with fiat currency.
Hashtags : #citizenfinance, #nft4fps #nft4XR #cifipowa #metacity #gamefi #citizens #cifi #defi #ciphi #bsc #blockchain #ownership @Citizen Finance
Learn more about the project:
Web : https://citizenfinance.io
Twitter: https://twitter.com/citizen_finance
Whitepaper: https://docs.citizenfinance.io
Telegram: https://t.me/Officialbountyportals
Medium : https://medium.com/@citizen_finance
Authorship
BitcoinTalk username : rudyjavon
My Bitcointalk Profile Link : https://bitcointalk.org/index.php?action=profile;u=1775685
ETH (BEP20 — BSC — Bianance Smart chain) address: 0xdD06362dA2952c3717B10eA2AA59571EDc802098