• About Us
  • Advertise
  • Write For Us
  • Amazon Disclosure
  • Contact Us
Tech News, Magazine & Review WordPress Theme 2017
  • Small Business
    • Biz Tech
    • Marketing
    • Sales
  • IoT
  • BYOD
  • IT
    • Big Data
  • Security
  • Software
  • Internet
    • Web Apps
    • Social Media
  • Mobile
    • Android
    • iOS
  • Gaming
  • Other
    • Gadgets
    • Blogging
    • VOIP
No Result
View All Result
  • Small Business
    • Biz Tech
    • Marketing
    • Sales
  • IoT
  • BYOD
  • IT
    • Big Data
  • Security
  • Software
  • Internet
    • Web Apps
    • Social Media
  • Mobile
    • Android
    • iOS
  • Gaming
  • Other
    • Gadgets
    • Blogging
    • VOIP
No Result
View All Result
Connection Cafe
No Result
View All Result
Home Cryptocurrency

China Attempts To Break New Ground With Esports Cryptocurrency

Richard by Richard
July 13, 2018
Share on FacebookShare on Twitter

Another day, another development in the world of cryptocurrency. This time it’s the turn of eSports— the professional-level tournament gaming industry—to unite with a decentralised currency in an attempt to bring it into the mainstream.

Photo by pop culture geek / CC BY 2.0

China’s Fujian eGaming Tournament Group, one of the leading players in the Asian tournament gaming industry, has recently announced a new partnership with Asura World LLC that the two companies hope will take eSports to the next level in the country.

As the home to some of the most successful eSports teams to date, including League of Legends specialists Edward Gaming, Shanghai Dragons and NewBee, China is increasingly becoming a major player in the fields of tournament gaming and mobile gaming. China currently possesses the second largest gaming market in the world (after North America), and local governments are even investing in the development of so-called “eSports towns” in major cities like Shanghai. However, for the first time in the history of eSports, the Asian superpower will now be integrating cryptocurrency into tournament reward systems.

Asura has committed a total investment of 5 million RMB’s worth of its cryptocurrency (Asura Coin) into the deal, which will be used to directly fund Fujian tournament prize pools as part of a three-year expansion plan. This is an unprecedented development for numerous reasons, not least of which is because Asura’s “self-sustainable eSports platform” and NEO blockchain-based coin are still relative newcomers to the industry, so they remain largely unknown both in and outside of Asia.

Asura World claims to be a “self-regulating, self-developing and self-evolving ecosystem” for the gaming industry, despite being in existence for less than six months. Also, its ICO is still underway (sale is due to close on 31st July 2018), which makes it an intriguing choice of partner for Fujian Group in comparison to some of the more well-known alt coin-based alternatives.

Harnessing the power of the NEO blockchain will have its benefits for the Asian gaming group, however. Often known as China’s answer to Ethereum, NEO uses a delegated Byzantine Fault Tolerance (dBFT) to keep its blockchain secure instead of the more typical Proof of Work. In short, this means that a community of shareholders and digital coin holders vote on the use of the blockchain, as opposed to approving transactions.

NEO is also future-proof; its objective is to be the number one platform for the creation of a new “smart economy” comprised solely of digitalised physical assets. Whereas other blockchains like Litecoin, Ethereum and even good ol’ Bitcoin itself are developed largely in response to demand, NEO’s technology is developing in anticipation of the future.

As far as the immediate future goes, Fujian has confirmed that Asura Coin payouts will form part of the prize pools for its upcoming King of Glory tournaments. KOG is an immensely popular game played throughout the world. This mobile multiplayer strategy-based game pulls in over 200 million active users per month. Fujian will also be building 5 dedicated eSports “arenas” in cities across China to specifically host KOG tournaments, providing Asura with the opportunity to connect with a huge international gaming audience.

Richard

Richard

Related Posts

Cryptocurrency

How To Trade Crypto With Leverage?   

November 9, 2020
Cryptocurrency

Forks And Profitable Mining

November 25, 2019
Cryptocurrency

The Effect Of Blockchain Technology On A Modern Payment System

July 31, 2019
Cryptocurrency

Crypto is Dead, Long Live Crypto

November 11, 2019
Next Post

5 Reasons Your Employee’s Productivity May Be Suffering

Recommended

Are Remote Workers More Vulnerable To Cyber Attacks?

March 5, 2021

Top 5 Sports Apps For Android And iOS

March 4, 2021

Categories

Trending

Rory Brown, Managing Partner of Nicklaus Brown & Co., Talks How AI is Redefining the Virtual Bank Market

October 3, 2019

Henry Todd Stella Describes 5 Best Travel Destinations For New Year’s Eve Celebration

October 31, 2019

How Does Pay-Per-Click (PPC) Advertising Work? WNY Holdings, LLC Explains

October 14, 2019
no wifi games

100+ Best Games without WiFi for Android and iOS

May 6, 2019

Everything You Need To Know About The Hoverwatch Tracker

May 26, 2018

Top 5 Reasons Why Online Gaming Has Become Popular

May 31, 2018

Fonemonitor Lets You Track iPhone And Android, Easily And Stealthily Like Never Before

August 25, 2018

New York Fitness Coach Larry Greenfield Shares 5 Ways to Add Variety to Your Runs

July 24, 2020

How To Unlock LG Stylo 3 Plus For Any Network

July 31, 2017

About

Connection Cafe

Connection Cafe is starting to be the leading voice in the field of new and emerging technologies and digital media.

Categories

Twitter Feed

Recent News

Are Remote Workers More Vulnerable To Cyber Attacks?

March 5, 2021

Top 5 Sports Apps For Android And iOS

March 4, 2021

Best Gift Ideas For Your Company

March 4, 2021
  • About Us
  • Advertise
  • Write For Us
  • Amazon Disclosure
  • Contact Us

© 2019 ConnectionCafe -

No Result
View All Result

© 2019 ConnectionCafe -