My first impression of Playkey is that this is a successful gaming company that has an innovative technology that allows anyone to play the latest games without having to buy a high-end PC. That’s a very cool idea. Then I thought, why would they need to do this on the blockchain? Why would a could gaming company need to be decentralized? Whats their use case? So I dug further into their white paper (do read it here, it is impressive)
The use case jumped out at me when I read it! PlayKey is trying to decentralize cloud gaming and it intends to build an entire ecosystem between gamers and miners and connecting them with smart contracts powered by a PKT token. The playkey ecosystem will allow anyone with GPUs to mine for PKT tokens by basically virtualizing and streaming graphics intensive games to players who will pay with PKT token via a smart contract to miners. This is a powerful use case as the ecosystem will allow anyone to be able to play high end games while just paying a usage fee to owners of GPU powered PCs. This is a peer to peer trading of computing capacities for gaming. Very smart idea.
I have been in the crypto scene for a while and there are many ideas and ICO happening but there are few with as strong a use case as Playkey. No longer will miners be mining crypto for the sake of mining alone, the mining activity in this instance will be to support the actual usage by another party. It is basically democratizing game play between the have and have-nots. The usage of smart contracts in the PlayKey ecosystem is a very smart idea too. The smart contract will bind the gamer and the miner so that the miner gets paid if the gamer gets to use the miner’s GPU for gaming. With a smart contract, as a miner I can rent out my processing power to anyone. I do not need to worry about whether the gamer is some small kid that wont pay me after he has finished his game, he has to lock in his PKT tokens via the smart contract so that I am guaranteed payment after his gaming. This is the power of smart contract and I believe one of the strongest use cases for blockchain.
Egaming is growing by leaps and bounds but not everyone can afford a high end gaming PC to play the latest games and games are developed to make use of higher and higher end GPUs. It is hard for every gamer to be able to afford upgrading of their hardware year in and year out. With Playkey, we just need to pay subscription using PKT tokens to miners who are willing to share their GPU processing power.
I foresee a lot of miners to jump into mining PKT tokens as PKT mining does not require a pool mining concept since we are trading our computing power with another gamer. This will give consistent returns for mining without joining mining pool which requires pool fees. There also does not seem to be a reason for mining difficulty to increase with more miners hence this would make PKT mining more consistent and perhaps more profitable.
The ICO for playkey will happen on 1st November. Do check out their site for more information and read their white paper to understand the technology they are developing too.
Links:
Playkey ICO:
Playkey Whitepaper:
https://cdn.playkey.net/img/playkeynet/ico/Whitepaper.pdf
bitcointalk: jaredl
Thanks to provide Great New and Useful Information
This is one of the best use cases of mining technology I've seen in my life!!
It's like the gaming version... and I think this is better!!
I didn't understand this... doesn't this mean that the more people mine the less PKT each one of them will earn?! and that will make mining more difficult?
But I do believe that the more Miners get on board, the amount that each miner charge for the use of their computing power for gamers to play games may reach a optimal level .. ie a level where miners will still want to rent out their computing power and gamers are willing to pay
I have also asked the developers about mining. There will not be any difficulty attributed to PKT. The PlayKey ecosystem will allow gamers to pay miners (owners of high end computers with GPUS) via smart contract to play games. This payment is via PKT tokens. So the idea of mining in this case is different from conventional mining whereby the supply will keep going down and difficulty will keep increasing as more miners get on board