Problems & Solutions

Problems

In the latter half of 2023, GameFi has emerged as a prominent form of crypto investment, offering various levels of complexity, ranging from straightforward lottery games to fully immersive MMORPGs. In GameFi, players have the opportunity to earn cryptocurrency assets through quests, trading, or other in-game activities. Nevertheless, GameFi faces a set of challenges:

  1. Scaling and Transaction Fees on Ethereum: Presently, GameFi experiences scalability issues and exorbitant transaction fees on the Ethereum network. This becomes problematic as players engage in frequent buying, selling, and trading of NFT assets. Additionally, NFTs are stored on centralized servers, posing risks of asset loss in case of server downtime. To make gaming more accessible to the next billion crypto users, a smoother and more reliable experience is needed.

  2. Lack of Game Diversity: While there are certainly captivating GameFi projects, the ecosystem could benefit from a wider range of diverse and high-quality games. Many GameFi initiatives are still in development, resulting in a limited selection compared to traditional gaming offerings.

  3. High Entry Barriers: Certain GameFi projects impose requirements, such as the possession of specific tokens or meeting particular criteria, for users to fully participate. This can create substantial entry barriers for newcomers, potentially limiting the inclusivity of the GameFi ecosystem.

  4. Economic Viability: The economic models employed by GameFi projects can be intricate, and sustaining rewards and incentives over the long term can prove challenging. Ensuring that these incentives remain attractive and sustainable is pivotal for retaining users.

  5. Mainstream Adoption: Achieving mainstream adoption remains a formidable hurdle for GameFi. Convincing conventional gamers to transition to blockchain-based games and DeFi protocols can be a gradual and complex process.

  6. Interoperability: Ensuring seamless interoperability among various GameFi platforms and blockchain networks presents its own set of challenges. Players often wish to utilize their assets across multiple games, necessitating smooth integration to enhance the overall gaming experience.

Addressing these issues will necessitate collaborative efforts among developers, gamers, regulators, and the broader blockchain community. As GameFi continues to evolve, innovative solutions and improvements can help overcome these obstacles, ultimately fostering a more vibrant and sustainable GameFi ecosystem.

In light of the aforementioned challenges, ILLUVIA came into existence.

Solution

ILLUVIA effectively addresses these issues through its sophisticated blockchain infrastructure. With a remarkable throughput of 10,000 transactions per second (TPS), ILLUVIA offers transactions at a fraction of the cost compared to Ethereum's considerably higher fees, costing mere pennies. Furthermore, ILLUVIA features a completely decentralized storage layer that securely houses players' Game NFTs across hundreds of nodes instantaneously. This safeguards players from the risk of losing their painstakingly acquired NFTs. In addition to these advantages, ILLUVIA serves as a centralized hub for high-performing DeFi products within its ecosystem, providing users with lending, staking, and yield strategies tailored specifically for game assets.

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