The Half Elf wrote on Dec 15, 2021, 13:20:
Someone want to dumb it down for me (waaaay down please).
I've heard of Blockchains, I've heard of NFT's, so what is blockchain gaming, and how do NFT's differ from any sort of account type items or say the system Team Fortress 2 uses?
It really just comes down to "proof of ownership" of a digital item or artifact. Since blockchain is "theoretically" an immutable, decentralized electronic ledger, you will be able to show proof that you've paid for an item via transaction. Think of it like trading cards. The value of trading cards can go up and down, and if you have an original version of the card, you can sell it for a price based on its worth (which typically fluctuates). But the difference here is we're talking about digital vs material. Material items are a bit more difficult to copy (counterfeit) and try to sell, and depending on its value, you could get into serious legal issues. As for digital items, you'll clearly be able to make as many copies as you want by right clicking on the file and selecting copy then paste lol! But the difference here is that the blockchain (you know, the tamper-proof electronic ledger) contains the proof of ownership.
The silly things that they don't usually talk about is that a person who created this digital item can hold a copyright even if you've purchased the item. Also, the blockchain code is owned by a developer, so they can do what they want with it. For example, there was a really nasty bug with the Ethereum blockchain, so the code owner forked the code, fixed the defect, then redeployed. This in turn broke that chain of the original blockchain. So when they say that a blockchain is decentralized, it really isn't. Not only that, a large corporation with a lot of $$ could easily control 51% of the nodes on the blockchain. This could result (theoretically) in a 51% attack. However, you're limited to what you can do, but there have been instances where you could exploit the "proof-of-work" consensus and double-spend. It might not be so easy to do this with something as widespread as bitcoin and Ethereum blockchains, but smaller networks are definitely much easier targets (i.e. less nodes).