What is a Blockchain?
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This article explains what a Blockchain is.
Gala Games uses blockchain technology to give gamers ownership of in game items. Knowing what this technology is can help a person better understand how they are able to own part of a game.
This article assumes the reader knows:
A blockchain is a system of recorded transactions that are maintained across several computers linked together in a peer-to-peer network. A peer-to-peer network is made up of individual computers that communicate with one another rather than with a single entity.
A network controlled by a single entity would be similar to the process of making a purchase at a grocery store. After putting all of their items into their shopping cart, a customer would go to the cash register and have their items scanned into the computer. All of the items that were purchased are catalogued on a receipt; This receipt includes information such as the time and date of the purchase, what the price of each item is, and any other information the store may wish to include. This information is stored in a database, but it is private to the company.
A retailer keeps their information stored on their own private, centrally controlled servers. This means that the public cannot audit any of the transactions, which means fraud is possible.
Blockchain projects, such as Bitcoin, fix these issues by handling transactions in a decentralized and public way. Computers all across the world process transactions on different, decentralized projects. These transactions are accepted by their network and typically have to be approved by the 51% majority of devices on the network. This prevents a single entity from changing or deleting transactions on the network.
Public transactions allow for anyone to look at and audit a transaction and determine if it is legitimate or not. They are the source of truth in this decentralized network.
Ethereum is another example of a blockchain. This blockchain handles the processing for the GALA token, including any NFT items in the Gala Games ecosystem. There are Ethereum Nodes across the world that run on computers and secure the Ethereum blockchain. The owners that run these nodes are paid a "gas fee", which is determined by how complex a contract program is to run. A gas fee is set by the Ethereum network and is separate from Gala Games.