Nano, a cryptocurrency solution, has been increasing in popularity. Its value at the beginning of the year jumped by 30% from what it was worth in 2017 and the trend doesn’t seem to be slowing down. If you flick through the Internet, however leisurely, you will immediately notice that there are multiple videos of people paying using Nano, but also quite a few signs that the token is actually being adopted in other industries, too.
Nano and Gaming – A Perfect Fit or an Honest Mismatch
At GamblingNews, we often like to consider things from a different angle. Not so long ago, a specific topic caught our eye. KPI Gaming CEO Michael Doyle, whose project is entirely dependent on Nano, has long been pointing to the overall usefulness of the token. Mr. Doyle has been providing valuable insight in interviews and podcasts.
Doyle believes that Nano can cater to one specific need – the desire of gamers to put bets while an event is afoot. Doyle really believes that Nano is the future. In all his public appearances, Mike has spoken about the benefits of blockchain and adopting more cryptocurrencies, notably Nano, to cater to the specific purposes of esports betting.
The strength of Nano, Mike believes, is that it allows the use of smart contracts to carry out all sorts of betting operations. And let’s not beat about the bush here. Nano is intended to facilitate the betting aspect of the industry, which is no crime of course. Besides, Doyle has been making a great case for the industry and the utilization of this specific currency for a fair while now.
Blockchain in the World of Electronic Sports
There have been many platforms benefiting from the technology that goes into Bitcoin. The public ledger or blockchain has inspired thousands of different iterations, with a very small crop to actually make it anywhere, though. From Play2Live to some of esports’ largest portals, the use of Bitcoin-like assets has been instrumental in the further advancement of these sectors.
Bitcoin and its alternations have helped create a slew of working networks that will help advance many industries, including esports, allowing these segments to develop significantly. The fact that Nano’s popularity is surging is not a chance occurrence either. With this in mind, Doyle is right to tout the benefits that you can reap from Nano and blockchain for that matter. Of course, he has his own stake to defend there, but even in general, the world is going blockchain.
Spotting the Bad Apples
Even if the field is most lucrative, there are a lot of bad apples to be wary of. New projects use Bitcoin and other assets to raise funding and then disappear with delivering little to no return. The dubious legality of the assets is also dangerous as well.
Many projects have gone belly up on empty promises and this is exactly what should be avoided on this and other occasions. Blockchain is the future and as with many other things, there will be a fair number of people trying to take advantage of it.