(MENAFN- ACCESSWIRE) ZUG, SWITZERLAND / ACCESSWIRE / March 12, 2024 / GAIMIN , the world's leading provider of DePIN (Decentralised Physical Infrastructure Networks) today announces the world's first L2 blockchain focused on delivering Web3 technology and services to the gaming industry.
The incorporation of Web3 technologies, such as blockchain, crypto currency based economies and owner retained NFTs within the gaming industry has been slow to develop, primarily due to high barriers to entry including low speed, high latency, lack of scalability, cost of transactions (gas fees) and the speed to validate and process blockchain transactions through traditional L1 blockchains. Games require fast processing of data with no lag or delayed processing (transaction approvals) impacting game play. As such, the incorporation of Web3 technologies into games has, until today, never really been considered by game developers. However, Web3 provides significant advantages to gamers - for example, the use of digital assets (NFTs) owned by the player and held outside of the game, thereby allowing players to retain their asset inventory and investment in gaming.
With the emergence of technologies retaining the underlying principles of blockchain architecture and features, whilst mitigating traditional barriers to entry, previously ignored use cases, such as gaming, can now be considered within the Web3 multiverse. These technologies collectively form the L2 blockchain - a blockchain network that sits on top of the main L1 blockchain utilising technology to speed up transaction processing, transaction validation, and reduce gas fees. GAIMIN today announces collaborations with BNB Chain and MOVEMENT Labs to create the world's first L2 blockchain dedicated to gaming.
BNB Chain is one of the most popular, well established, leading global blockchains. Incorporated into the design of BNB Chain is an L2 solution delivered through opBNB, which delivers the traditional L2 features and functionality to BNB Chain.
MOVEMENT Labs technology synergistically enhances L2 architectures, increasing transaction throughput from around 4k TPS to 150k TPS, providing decentralised sequencing, smart contract translation, cross-chain data transposition and account abstraction features, whilst reducing gas fees and operational costs.
To support the delivery of L2 blockchain processing services a large scale, global DePIN network is required to process and validate transactions. GAIMIN has this DePIN through gaimin ; a decentralised network of PC-based devices delivering a global platform for the processing of blockchain transactions, video rendering and AI data processing.
Martin Speight, CEO of GAIMIN commented, "GAIMIN was set up by gamers, for gamers with a philosophy of No Gamer Left Behind. With our well established and operational DePIN which is built on gamer's allowing their PC's to participate in gaimin, gamers will now be pivotal in the transformation of their industry - they will power their games and be rewarded for their participation!"
Martin concluded, "Building the gaming L2 blockchain on BNB Chain, with opBNB, MOVEMENT Labs technology and GAIMIN's DePIN will deliver the paradigm shift for the gaming industry to move to Web3."
About GAIMIN
GAIMIN Ltd (GAIMIN) is a UK and Swiss-based gaming company focused on helping the gaming community monetize the computational power of their gaming PC. GAIMIN has created a decentralized data processing network harnessing underutilized processing power typically found in gaming PCs to create a world-wide decentralized data processing network, delivering supercomputer performance.
With a free-to-download PC-based application, GAIMIN monetizes the under utilised performance through innovative approaches to delivering supercomputer-level data processing performance from a world-wide network of independent processing devices which power GAIMIN. Focusing initially on video rendering and AI data processing, with an always available service to power blockchain computations, the GAIMIN data processing network is continuously delivering data processing services and returning rewards back to its user community.
GAIMIN rewards users in its own cryptocurrency, GMRX which can then be used for purchases on the GAIMIN Marketplace for NFTs, in-game assets, accessories, and merchandise, or it can be converted to fiat or a different cryptocurrency.
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For further information, please contact:
The Americas, Middle East and Australian Pacific - Andrew Faridani, Chief Marketing Officer for GAIMIN (based in Toronto, Canada): [email protected]
UK and Europe - Marc Bray, Chief Communications Officer for GAIMIN (based in Manchester, UK): [email protected]
SOURCE: GAIMIN AG
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