Banger Games is excited to announce that it is bringing on Polygon layer 2 availing solution for low-cost, high-speed transactions.
One of the key strengths of Banger Games, a platform for gamers that connects and rewards users for completing objectives and for contributing towards the growth of its Internet of Gaming (IoG) ecosystem, is its own cryptocurrency, Bombcoin.
Bombcoin will be the first global Metaverse currency that can be transacted, earned, mined, and burned through actions carried out among communities operating on the IoG network. The tokens of this revolutionary gaming currency will be earned in-game, and used to buy and sell NFTs of digital assets such as skins.
With Bombcoin, Banger Games will establish a Smart contract-based agreement between parties, enabling them to make transactions in the Ethereum network.
Two of the main problems of transacting with cryptocurrency are the speed and cost of transactions.
What is Polygon?
Polygon is the first layer two well-structured, easy-to-use platform for building and connecting Ethereum-compatible blockchain networks in a scalable multi-chain ecosystem.
Thanks to Polygon, gamers will be able to make transactions using Bombcoin with very low fees, using a fast, secure payment network. This will offer greater convenience and improved monetization potential for both gamers and creators. Polygon’s platform will also verify the scarcity of digital assets and offer decentralized asset exchanges.
Polygon is a secure, open protocol and a framework for Ethereum scaling and infrastructure development, whose core component is Polygon SDK, a modular, flexible architecture that supports building and connecting.
Banger Games will use Polygon as a full-stack scaling solution for the Ethereum blockchain, functioning as a network or technology that operates on top of an underlying blockchain protocol to improve its scalability and efficiency.
Scalability is the capacity of blockchains to process transactions in the network. A scalable system can accommodate a greater amount of transactions and activity in the network, without suffering from overload. Transactions are ‘off-loaded’ from the main blockchain in order to save space and reduce network congestion.
How will Polygon help Banger Games?
Bombcoin is an ERC20-compatible token used to drive all Banger Games services, which is easily exchangeable into any other currency. Essentially, Polygon as a layer 2 scaling solution will process Banger Games token transactions quickly and cheaply, and offer infinite scalability opportunities.
The economic ecosystem of Banger Games will be supported by Polygon in multiple ways, such as delegated transactions with no Ether fees, and pausable ERC20 tokens to prevent undesired transfers, and even hacking.
The security of Bombcoin will be further enhanced by an underlying programme that defines how the tokens are transferred, which has been audited to confirm that the tokens have no security issues.
Bombcoin will be used for many purposes and functions in the Banger Games ecosystem.
In terms of gaming activities, Banger Games users will be able to use their Bombcoin to participate in, and create, competitive events; challenge other players for NFTs and tokens; and complete in-game or platform objectives to enhance their skill levels.
Investment potential with the currency includes tokenising gamers and esports team investments; rental of reward and tournament operation APIs, and of server power (Player to Player, or P2P); and publisher crowdfunding.
For more details about Polygon see this link.