Ludos Protocol is a New Protocol Looking to Scale Blockchain Gaming Networks
The gaming industry is increasingly adopting blockchain technology. The Ludos Protocol intends to capitalize on this budding trend by providing a platform for the creation of sidechains.
Precisely, the Ludos Protocol will offer a DApp ecosystem that provides Blockchain-as-a-Service solutions. The objective of this project is to improve scaling on blockchain networks to enable games to run more smoothly. Typically, blockchain networks slow down when overwhelmed by several users, a factor that adversely impacts the gaming experience.
As mentioned above, Ludos will enable games to form their individual sidechains. To facilitate this, Ludos Protocol leverages both the Proof-of-Stake and Proof-of-Work consensus mechanisms. The establishment of sidechains means that the main blockchain will never be overcrowded.
Notably, Ludos is supported by Softbank, a leading bank that has previously backed Uber and Alibaba. The funding by Softbank is entirely understandable, as the gaming industry is one of the most profitable sectors of the economy. Last year, the sector accrued $200 billion worth of revenue. If the current trend holds, this figure will shoot to $300 million within the next three years. Moreover, blockchain tech is growing into the gaming industry and Ludos will reap massively from this shift.
Online games contributed to the development of the earliest forms of digital currencies. Players would use the funds to acquire virtual coins, game skins, ability upgrades and so on. The integration of blockchain technology will certainly increase the efficiency of this process.
The Ludos Protocol will issue utility tokens called Ludos (LUD). Token holders will have more privileges than non-holders in the Ludos blockchain ecosystem. The LUD tokens can be used to acquire items from partnering games. Also, the tokens are tradable on the Ludos decentralized crypto exchange as well as acceptable in selected outlets in Japan.
The LUD token is the principal currency of the Ludos blockchain ecosystem. Thus, they are used to buy games, pay fees and holders are eligible for voting. The total supply of LUD is capped at 15 billion. This move is aimed at ensuring that the coin remains valuable. Furthermore, the value of LUD will depend on supply and demand, rather than mere speculation.
In the future, Ludos will reward long-term LUD token holders with an interest based on the period over which they have kept their LUD tokens.
Overall, Ludos Protocol promises a bright future for the blockchain gaming industry.