[GameXCoin]The Components of Coins in GXC ecosystem

GXC | 03.27| 344

[GameXCoin]Two Different States of Game Coins in GXC ecosystem

Hello, this is GameXCoin.

In GXC blockchain ecosystem, there are various coins including GXC coin and game-specific coins issued by each games. Depending on its ‘state’, each coin is classified into two categories, [In-game] coin and [In-wallet] coin.

In this article, we will explain what differentiates the two coins and the reason for the classification.

Not all coins are the same

Firstly, [In-game] coin refers to the coin that is ready to be used inside the game for purchasing game items.

On the other hand, [In-wallet] coin refers to the coin that is ready to be transferred to another account or exchanged to GXC coin.

In other words, the aforementioned ‘state’ refers to the ‘movable state’ of the coin outside the game.

To sum up, [In-game] coin is used for gameplay, and [In-wallet] coin is used for transfer of coin besides the gameplay. Therefore, it is necessary to exchange the two according to one’s purpose.

Whereas exchange of [In-wallet] coin to [In-game] coin is completed immediately upon user’s request, exchange of [In-game] coin to [In-wallet] coin requires some time-delay(12–24hrs) to complete.

There are two main purposes of the implementation of time-delay and the state-based classification of coins.

1. Improving the security

First objective of the coin classification is to minimize the propagation of individual game risk to the entire GXC ecosystem.

Games are not free from abusing or security issues such as hacking, farming and macro attack.

For example, let’s assume that a game company ‘A’ minting game coin ‘ABC’ mis-distributes 10,000ABC due to its internal system error or an attack from a malicious user. In the case where there is no classification of coins, [In-game] coin and [In-wallet] coin, the mis-distributed 10,000ABC can be immediately transferred to another account or exchanged to GXC coin. Likewise, using a single coin can bring about a disturbance to the entire GXC ecosystem due to a problem in an individual game.

Thus, the separation of coins and implementation of time-delay in the exchange to [In-wallet] coin would give the time to check the legitimacy of exchange requests, and prevent the misfortune from happening.

2. Increasing the Playtime

Another objective of coin classification besides improving the security is to increase the game playtime of game users. Playtime, which refers to the total time users spend in a certain period of time, is a significant index to measure the success of games. Game companies can establish their game policies, for example, putting a certain threshold to the accumulation of [In-game] coins, so that [In-game] coins can be exchanged to [In-wallet] coins only after a certain amount is accumulated. This kind of game policies, in turn, will lead to an increased retention of game users.

GameXplay, the GXC mobile application, supports the exchange of the two type of coins.

[Move to wallet] function enables the exchange from [In-game] coins accumulated by gameplay to [In-wallet] coins, which could then be transferred to another account or exchanged to GXC coin.

Likewise, [Move to game] function enables the exchange from [In-wallet] coins to [In-game] coins, which can be used to buy game items.

GameXPlay will be launched in accordance with the launch of ‘Flyff Rebirth for GXC’, the first game to be integrated to GXC blockchain.

GameXCoin(GXC) provides a technology infrastructure for game developers to integrate their in-game currency on the blockchain. Game developers issue game currencies on the GXC blockchain and the GXC coin becomes the key currency for trades between different game currencies.

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[GameXCoin]The Components of Coins in GXC ecosystem was originally published in Game X Coin on Medium, where people are continuing the conversation by highlighting and responding to this story.

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