Crypto

“Proof of Stake”: What is this new technology that Ubisoft uses for its NFTs?

French video game publisher and distributor, Ubisoft, is launching its new platform called “Quartz” to offer NFT to its players. To achieve this, the company uses proof of stake as a more environmentally friendly and less energy consuming model. Decoded.

Word of the year for the Collins dictionary, NFTs have definitely made their mark in every industry. Ubisoft, a major player in French video games, recently introduced its “Quartz” platform in which players will be able to obtain non-fungible tokens directly from the game. Digits, such as vehicles, clothing or weapons, will be traded in limited quantities. and editing. They will award the first players for free on December 9, 12 and 15 in about ten countries around the world. To accomplish this feat, Ubisoft will use proof of stake to allow the player to purchase these NFTs.

The blockchain will allow authenticating the uniqueness and authenticity of digital objects. Ubisoft assigns a serial number to allow the NFT’s ownership history to be known. It will be possible to resell these items on exchange platforms and therefore receive money depending on the rarity of the NFT. Also, these tokens will use the Tezos blockchain. This technology uses proof of stake to minimize your ecological footprint. According to Ubisoft, Tezos uses a million times less energy than a Bitcoin transaction. Players can sleep soundly, they will be able to collect NFT without participating in the excessive electricity consumption of other blockchains.

Proof of stake soon the new standard?

“Energy efficiency is an essential condition for driving blockchain technology into a future where it can be widely used by millions of gamers. We chose Tezos for its original proof-of-stake network and its leadership in the NFT itself,” said Didier Genevois. director of blockchain at Ubisoft, in a statement. “A transaction on your network uses the same amount of power as streaming 30 seconds of video, while the previous generation of blockchain networks can consume as much power as a year of continuous streaming. This small carbon footprint means that our developers and Players can prioritize innovation without compromising sustainability. “

Proof of Stake replaces “proof of work”, an inherent mechanism in the blockchain that relies on solving calculations to validate the entire circuit of the blockchain. This mechanism is currently used by cryptocurrencies such as Bitcoin or Ethereum … but perhaps not for long. In fact, Ethereum could change its operation to move towards proof of stake.

To validate the blocks necessary for information security, mining has so far been the preferred technique. We now prefer the much less energy intensive validation system as it relies solely on a good internet connection. Here, the validators will validate the transactions or rewards themselves. They act as investors in a certain cryptocurrency (for example, Tezos for Ubisoft). The greater the amount of crypto invested, the greater the chances of obtaining rewards. Therefore, there is little point in trying to cheat or slow down the process. Also, the validator is randomly chosen from the largest wallets.

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