- New Bitcoin City, a new gaming platform, utilizes the Bitcoin blockchain to offer payout games, aiming to widen the use of Bitcoin beyond just trading and investments.
- To tackle Bitcoin’s transaction speed issue, New Bitcoin City developers built a Layer 2 network called NOS, facilitating smart contract functionality similar to Ethereum and offering faster speeds.
The Bitcoin blockchain, often associated with trading and investments, has found a fresh application – gaming. New Bitcoin City, a platform that debuted last week, has ushered in a new era of win-to-earn games. These games, which operate entirely on the Bitcoin network, aim to broaden the use of Bitcoin in the gaming industry.
Developed with the vision of making Bitcoin as generalized as possible, New Bitcoin City offers a diverse range of games including casual games, board games, and strategy games. Additionally, the platform provides NFT auctions and a marketplace, all of which are native to the Bitcoin network.
Transforming Bitcoin Into a Gaming Currency
The brainchild of @punk3700, a prominent developer at New Bitcoin City, this initiative sets out to make Bitcoin usable for far more than just a currency. He and his team started with art and AI, and now DeFi is the natural next frontier to explore.
Bitcoin’s usage in DeFi applications has largely been confined to tokenized representations on other chains like Ethereum or Solana. However, the advent of “Bitcoin Request for Comment” (BRC-20) standards earlier this year has allowed developers to issue tokens and build DeFi applications directly on Bitcoin. This development has led to the creation of digital artwork and meme coins on Bitcoin in recent months.
@punk3700 had previously developed Trustless Market, a Uniswap fork on Bitcoin, during the Ordinals protocol hype to jumpstart BRC-20 token activity on the blockchain. The protocol witnessed daily volumes of $500,000 shortly after launch, attracted over 2,000 users, and allowed liquidity providers to earn a 2% cut on all swaps conducted on the network.
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The team behind New Bitcoin City argues that using blockchain technology maintains fairness in games and winnings, unlike some online games that might tweak their mechanisms behind the scenes, making it harder for players to accumulate substantial earnings.
Addressing Bitcoin’s Speed Challenge
In response to Bitcoin’s infamous slow transactional speeds, the developers of New Bitcoin City devised NOS, a layer 2 network, using an Ethereum Virtual Machine (EVM) built on top of Bitcoin. This design enables smart contract functionality akin to Ethereum, along with faster transaction speeds. EVMs are the software environment where all Ethereum accounts and smart contracts operate.
Such advancements, according to developers like @punk3700, are driving the ecosystem forward. He advocates for a combination of the best aspects of both Ethereum and Bitcoin, rather than a competitive stance between the two.
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