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XMAX, the premiere blockchain entertainment company, recently concluded their visit to Korea. The XMAX team attended the “Blockchain X Industry” event in Gangnam, Seoul on August 1st as well as the Huobi Carnival blockchain conference on August 2nd.
XMAX is a developer toolkit created to support a next-generation blockchain ecosystem for entertainment. The XMAX team has a vision to distribute decentralized applications (DApps) around the world by providing developers with tools to simplify blockchain development. In addition to providing a blockchain operating system for entertainment and gaming, they are also focused on community-based features that help small projects grow their user base through the XMAX Studio developer toolkit. The idea is to eliminate the gaps between the community and small development teams and enable supporters to actively participate in development decisions through smart contract voting.
On August 1st, XMAX CEO Hughes Ching announced that XMAX would lower the participation barriers for nodes holding ledgers in the blockchain through the introduction of a ‘Dynamic’ Proof of Stake consensus algorithm. He emphasized that he would avoid a scenario where a few “rich people” would gain control of a majority stake. Also, the XMAX main-chain allows the use of side-chains, enabling different consensus algorithms, thereby improving the independence and efficiency of each chain.
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In a subsequent panel discussion, Hughes said, “most of the blockchain games that are currently available are relatively simple games, and the user experience is not as good as it could be… thus we are waiting for the participation of more indie and Korean game developers to help develop more innovative content.”
A subsequent question arose asking how XMAX plans on competing against super-sized gaming platforms such as Steam. Hughes responded, “first of all, the positioning is slightly different, worldwide we have about 40 million cryptocurrency holders. So you can imagine it like a parallel universe where you are not stealing the traffic from traditional game developers rather you are creating a new market for all cryptocurrency holders. Therefore, when launching a block-chain game, you should target people who already hold your currency.” He emphasized the difference between the traditional market and the blockchain game market and said, “the blockchain industry—it will grow explosively.” He did not hide his expectations on the market prospects for blockchain games and platforms.