Blockchain Technology and the Benefits it Brings to EIPlatform
Blockchain technology is arguably the biggest technological advancement so far this century in terms of its far reaching global impact. The blockchain is a disrupted database, where multiple computers have multiple copies of the database in a peer-to-peer network. There is no centralized server or database, the database is within a decentralized network.
Instead of a central authority to verify transactions within the network, a system of “distributed concensus” enables people to have trust that transactions of certain values have occurred. This decentralization brings several benefits for a system like EIPlatform.
EIPlatform is built using blockchain technology to enable direct, peer-to-peer interactions and transactions between all participants within the esports ecosystem. Brands will be able to interact with members of the esports community directly conveniently and to the benefit of all parties.
Blockchain technology brings several benefits that make EIPlatform possible.
Get Rid of Intermediaries
The traditional way of making transactions require an intermediary — a central authority that can be trusted by both parties involved. This is costly and inefficient. One of the benefits of using blockchain is that it is possible to get rid of these intermediaries and still have the trust that is needed.
Greater Transparency
Because blockchain works on a distributed ledger system, all network participants share the same data and it can only be changed through consensus. Data is available to all participants who have permissioned access. Data on the blockchain is more accurate, consistent and transparent than traditional methods.
Users are Empowered
With blockchain technology, users can control every transaction they make. They are assured that information is safe and secure in every interaction and can perform transactions without fear that their details might be compromised.
Integrity of Process
Blockchain technology ensures that commands will be executed exactly as given. Without a third party, transactions will have minimal or no intervention from outside forces. Smart contracts can be set up so that transactions can be set up to reference external facts or at pre-determined dates.
Security
Blockchain technology stores data across the network, so there are fewer risks to data. The lack of a third-party involvement to verify transactions reduces the risk of a backdoor or unauthorized intervention. Transactions, once entered into the database cannot be altered, reducing the possibility of data tampering and creating a robust system.
EIPlatform is Powered by Blockchain
The way blockchain handles data makes possible the EIPlatform and the benefits it brings to esports marketing:
- Brands will be able to engage with the esports community via a decentralized marketing platform
- Publishers, tournaments, teams, players, and streamers will be able to monetize their audience more effectively
- Audiences and fans will be able to interact within the esports ecosystem and receive rewards based on their interests
Find out more about EIPlatform and the fantastic opportunity to invest in EMI Tokens at EIPlatform.
You can also read the EIP whitepaper here.
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