Low gas does not equal no gas; how Leprichain looks set to redefine blockchain gaming
Low gas does not equal no gas; how Leprichain looks set to redefine blockchain gaming
If you are familiar with Ether transactions, you are no stranger to gas; but what does it really mean?
According to Investopedia, gas is the fee or pricing value required to conduct a transaction or execute a contract on a network successfully. For example, when you make an Ethereum transaction, you are required to pay a fee known as Gas which must be paid in Eth, you are not permitted to pay it in the cryptocurrency you are sending.
The network mechanism is based on supply and demand. Ethereum 1.0 can handle 30 transactions per second. However, Ethereum 2.0 processes 100,000 transactions per second. If there is a higher demand for transactions, miners have the choice to include transactions that pay more, making users pay more for a faster transaction. In a nutshell, Ethereum gas fees can be a killer!
The gaming industry is no exception when it comes to the adoption of blockchain technology and gas payments. While gas fees may be justifiable for the occasional financial transaction, it simply makes no sense if a game on the blockchain incurs gas fees for every single action carried out. As a result, Blockchain games may be overwhelmed by high costs and low operating speed on the Ethereum network.
Lepricon’s blockchain might be the solution the industry has long awaited to catalyse the gaming revolution. The hyper casual gaming company developed its very own private, high-speed, Ethereum-compatible side-chain, Leprichain. Leprichain is a completely gas-free and a fully ERC compliant private sidechain, exclusively for holders of L3P.
Gamers will be allowed to move their L3P between DeFi protocols such as staking and various decentralised games without any gas fees. Any in-game actions that utilise Leprichain similarly operate without inserting gas fees into the transaction.
Leprichain can be added to any Ethereum-compatible wallet for Web3 logins to dApps. Only dApps that accept L3P can use Leprichain and offer their users a gas-free experience. It doesn’t matter how simple or complex your dApp is; Leprichain can handle any application from the simplest to highly complex gaming experiences.
Users who stake their L3P to Leprichain earn a yield as long as it is on Leprichain. Users’ L3P remains a fully liquid token with any dApp the users chooses to connect to with their wallet.
It’s important to note that whilst there is a gas fee for transferring L3P from Ethereum to Leprichain, it’s a free ride once it is on the chain. Talk about a steal!
As with most private chains, Leprichain has fewer nodes than a public chain, hence, allowing for quicker transactions. Besides that, Leprichain provides an added layer of security; as it is not a public chain, the Lepricon team are able to closely audit and vet all code developed for it.
Leprichain is the first step in a series of technologies that will define a complete ecosystem created expressly for the needs of game developers looking to integrate the utility of blockchain into their games.. Additional components of this blockchain SDK will include integratable wallet technology for the web, Unreal Engine and Unity, as well as marketplace components and minting services.
Leprichain is set to transform and take blockchain gaming to the next level. For more information on Leprichain, please visit: https://www.lepricon.io/
About Lepricon
Lepricon is reimagining the possibilities for entertainment through blockchain technology and seeking to establish the general acceptance of player-owned economies in games. We believe that gaming can and should be the first killer-on ramp to mainstream adoption, and Lepricon’s stated mission is to catalyse this outcome.
Our activities break into three distinct tracks; technology, entertainment and DeFi.
Technology:
At the core of this strategy is Lepricon’s own high-speed, gas-less Ethereum-compatible side chain, Leprichain. We are developing software solutions in the form of SDKs, which will empower mainstream game development studios to incorporate blockchain technology into their games. These solutions are built upon and powered by Leprichain, with the intent to create a drag and drop blockchain solution for mainstream game developers.
Entertainment:
Lepricon is developing several in-house entertainment activities that operate on Leprichain, including our collection of arcade and carnival games at Lepricon City. The first games are straightforward, but we will develop more complex games that demonstrate Leprichain’s capabilities over time. We will leverage these demonstration games to encourage third party dApp developers to deploy on Leprichain.
DeFi:
Leprichain and all of the dApps that run on it are powered by our ERC-20 / BEP-20 utility token, L3P. Lepricon’s DeFi portal will enable L3P holders to manage their tokens, participate in governance, and benefit from advanced yield-earning activities. Lepricon’s DeFi portal will launch towards the end of the fourth quarter of 2021.
For further information, please visit https://www.lepricon.io.
Contact:
Phil Ingram
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