Blockchain 101

Blockchains

Top Blockchain Gaming Platforms 2023: Revolutionizing the Virtual Playgrounds

Gas Fees 101: A Beginner's Guide to Navigating Transaction Costs in Blockchain
Blockchain 101

Gas Fees 101: A Beginner's Guide to Navigating Transaction Costs in Blockchain

May 7, 2023

If you're new to the world of blockchain and cryptocurrencies, you might have heard about gas fees and wondered what they are. Don't worry! In this beginner-friendly Blockchain 101 article, we'll break down the concept of gas fees and help you understand their role in the blockchain ecosystem.

What are Gas Fees?

In simple terms, gas fees are the costs you pay when you perform actions on a blockchain network, like Ethereum. These actions can include sending tokens to someone else, using a smart contract, or interacting with decentralized apps (also known as dApps). Gas fees are paid in the native cryptocurrency of the blockchain, such as Ether (ETH) for the Ethereum network or Polygon (MATIC) on the Polygon network.

Why Do We Have Gas Fees?

Gas fees have three main purposes in the blockchain world:

  1. Motivating Miners: Miners are the people who validate and process transactions in a process called mining. They get gas fees as a reward for their work. This incentive encourages more people to become miners, which helps keep the network secure and running smoothly.

  2. Regulating Network Usage: Gas fees help control how much activity happens on the blockchain. Since users have to pay a fee for every action, it discourages spam and unnecessary transactions, keeping the network from getting bogged down.

  3. Allocating Resources: Gas fees help decide which transactions get processed first. If the network is busy, users can choose to pay higher fees to get their transactions processed faster.

Gas Fees 101 MetaMask

How to Save on Gas Fees

Here are some tips to help you save on gas fees when using blockchain networks:

  1. Be Patient: Gas fees can vary depending on network congestion. If you're not in a hurry, wait for a less busy time to perform your transaction, as gas fees are likely to be lower. Gas fees can be viewed using gas trackers such as Etherscan for Ethereum.

  2. Use a Wallet with Gas Fee Suggestions: Some wallets, such as MetaMask, offer suggestions for the best gas prices based on current network conditions. This can help you find a balance between getting your transaction processed quickly and not overpaying.

  3. Opt for Layer-2 Solutions: Some blockchain networks offer layer-2 solutions, which are additional systems built on top of the main network that can handle transactions more efficiently. Using these solutions, such as Polygon, can result in lower gas fees.

How Are Gas Fees Calculated?

Gas fees depend on two factors: the gas price and the gas limit. The gas price is the amount you're willing to pay for each unit of gas, usually measured in Gwei (1 Gwei = 0.000000001 ETH). The gas limit is the maximum amount of gas you're willing to spend on a transaction.

To calculate the total gas fee, you multiply the gas price by the gas limit. For example, if the gas price is 20 Gwei and the gas limit is 50,000, the total gas fee would be 20 Gwei * 50,000 = 1,000,000 Gwei (or 0.001 ETH).

Gas Fees 101 MetaMask

Gas Fees are Fundamental

Gas fees are an essential part of the blockchain ecosystem, ensuring that networks run smoothly and securely. By understanding the basics of gas fees and using the tips provided, you'll be well-equipped to navigate the world of blockchain transactions. Welcome to the exciting world of cryptocurrencies!

Exploring the World of Blockchain Gaming Platforms
Blockchain 101

Exploring the World of Blockchain Gaming Platforms

May 9, 2023

Blockchain technology has revolutionized the gaming industry, enabling the development of decentralized gaming platforms. These platforms support the creation, trading, and ownership of in-game assets in the form of NFTs, offering players new ways to engage with and give ownership of assets to players. In this article, we will explore various blockchain gaming platforms, with a brief of what they have to offer.

Elixir

Elixir is a platform designed to combine the functionality of traditional game launchers with the web3 ecosystem. This game launcher platform provides features such as importing NFTs from well-known marketplaces, a referral system, a launchpad, and a guild dashboard. In a recent development, Elixir has formed a partnership with Square Enix, the developer behind the popular Final Fantasy series, in an effort to support web3 adoption.

Elixir Website

Elixir Gaming Platform Dashboard

GameSwift

GameSwift is a platform aimed at simplifying the entry process for newcomers to the world of blockchain gaming. It enables users to log in using familiar accounts, such as Google, which then automatically generates a built-in wallet for them. Furthermore, GameSwift removes the need to pay gas fees, navigate through different chains and bridges, or install extra extensions, making the process of earning and withdrawing more efficient through integrated bank card payments.

GameSwift Website

GameSwift Gaming Platform Dashboard

Fractal

Fractal, established by Twitch co-founder Justin Kan, initially started as an NFT gaming marketplace but has since transformed into a platform that supports blockchain gaming creators. The platform offers a variety of tools and resources to assist developers in creating captivating gameplay and virtual ecosystems. In addition, Fractal accepts credit card payments for NFTs, further promoting mass adoption of the technology.

Fractal Website

Fractal Gaming Platform Dashboard

Gala Games

Gala stands as one of the most extensive Web 3 gaming launchers, encompassing not just gaming but also broadening its scope to include Web 3 entertainment with watch-to-earn and play-to-earn possibilities. The platform offers a diverse range of games in various development stages, from live games to playtests, and is proactively incorporating blockchain technology into current Web 2 games and applications.

Gala Games Website

Gala Games Gaming Platform Dashboard

Myria

Myria is a blockchain gaming platform that can handle up to 9,000 transactions per second, offering zero gas fees for NFT minting and trading. The platform is developer-friendly, providing plug-ins and tools that support various game engines. For users, Myria focuses on delivering a streamlined experience to make it easier for newcomers to interact with blockchain gaming platforms.

Myria Website

Myria Gaming Platform Dashboard

Tevaera

The ecosystem features Teva Games, which are multi-genre adventure games available on web and mobile platforms, designed to foster social connections within a nature-inspired setting. Players have the opportunity to earn free NFTs and purchase premium, rare, and user-generated progression and cross-NFT characters.

Tevaera Website

Tevaera Gaming Platform Dashboard

Ronin

Created by Sky Mavis, the developers of Axie Infinity, Ronin aims to reduce transaction fees and confirmation times, making it more affordable and convenient for players to engage in blockchain gaming. The platform is selective in onboarding games, ensuring that they meet specific criteria related to gameplay, player economy, and tokenomics.

Ronin Website

Ronin Gaming Platform Dashboard

Ultra 

Ultra is a comprehensive blockchain gaming platform that brings games, digital assets, tournaments, and live streams together through a single login. The platform features a unique marketplace for creating, trading, and collecting digital assets without fees, and offers two referral programs that enable users to generate additional income streams by promoting Ultra and its features.

Ultra Website

Ultra Gaming Platform Dashboard

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