Bountie is a gaming based blockchain platform that has made a room for the gamers to earn coins by playing virtual tournaments or by taking part in the competitions. The future of gaming is based on these competitions and tournaments where the blockchain network is perfect to utilize this. It is not just an ordinary gaming platform; it is on its way to creating a gaming economy to circulate tokens through the ecosystem. The gamers have the authority to use the platform to have a better gameplay experience absolutely having no limits to it. Like other transactional processes, Bountie also deals with some potential risk factors related to the purchase, sale, and usage of Bountie tokens.
Associated Risks through Ethereum Protocol
The nature of the tokens has been built in a certain nature which the platform used being on the Ethereum protocol. Every malfunction, breakdown or abandonment of Ethereum protocol has some substantial effects of adverse tokens to the platform.
The advancement of cryptography is related to the technical advancements like the development of quantum computing with some potential risks present to the tokens and to the platform. This will ultimately include no limits of utility o the tokens for obtaining services. it renders the consensus mechanism of cryptography underpins the Ethereum protocol in an ineffective manner.
How Does Bountie Work
The motto of Bountie technology is to “Get Paid to Play”. It has a vision with the future that makes the users earn currencies from the platform and win over their friends or other members sharing the same platform or playing the same tournament. Bountie has a plan to make the gamers able to be as an only living form of income by winning some competitive games in tournaments. The tournaments can be among the pro tennis or golf players. By participating in the tournaments, Bountie wants to build an economy for the gamers to circulate the tokens within the ecosystem. This will create benefits to the shoutcasters, game referees, content creators, brand partners, and merchants.
Mining Attacks
Some risks lie in the mining attacks as it is the case of other decentralized cryptographic tokens. It is based on the Ethereum protocol and Bountie token is prone to the attackers. It might be done through the miners in course of validation of tokens transacting on the Ethereum blockchain. This also includes unlimited double spending attacks with a majority of mining power attacks and selfish mining attacks. The successful attacks may present the potential risks to the token platform with an unlimited accuracy of recording and execution to the transaction with an involvement to the tokens.
Security Weaknesses
Weaker security may lead to the risk of hacking. Hackers or other malicious individuals or groups or even organizations may take attempt for the interference in the token platform in many ways such as malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing and spoofing and so on. The nature of the platform is based on open source software where the third party of the members of the company may create a team with an intention to introducing the weaknesses to the core infrastructure to the platform.
This carries potentialities to the negatively affected platform of tokens. It also includes the tokens obtaining goods and services. hackers and other malicious individuals or organizations may take their attempts to obtain necessary access to the private keys or have credential access into the Wallet or any other wallet, vault or some other storage mechanism for receiving and holding tokens and so on which may result to the loss of tokens forever.
Gaming Market
The current gaming market included 2.2 billion active gamers and the number is increasing daily. Their earning has reached to around $7.8 billion last year. Only in Asia, Bountie has earned $108.9 billion revenues utilizing this sector and they are aiming at raising the number to $1.5 billion by the year of 2020 so that they can make the investment double as a brand.
Bountie has opened many opportunities at its front and capitalizing them with challenges to the gaming lifestyle. This will help Bountie to experience a greater rise in the global revenue from this gaming industry.
Website : http://bountie.io/
Whitepaper : http://bountie.io/docs/whitepaper.pdf
Telegram : https://t.me/bountietoken
Twiiter : https://twitter.com/BountieGaming
Facebook : https://www.facebook.com/BountieGaming/
Ann Thread : https://bitcointalk.org/index.php?topic=2436226