According to Sandeep Nailwal, Co-founder of Polygon, Web3 gaming will eventually become one of the most important drivers of broad crypto adoption.
In a Reddit Ask Me Anything (AMA) on May 25, Nailwal was asked what he considers to be actual at-scale “real life” business cases for blockchain other than trading and payments.
“I think gaming is the largest scale opportunity for crypto,” Nailwal responded, stressing that there are some notable games debuting on Web3 in the next 6-18 months and it will be fascinating to watch whether some of them have the capacity to decode the crypto code. Web3 games received over $2 billion in funding last year.
Polygon, alongside key participants in its ecosystem such as IMX [Immutable X], secured the majority portion of funding allocated to those remarkable games.
Polygon and Immutable X collaborated in March to create a scalable gaming blockchain based on Polygon’s EVM-compatible zk-rollup technology.
The network is set to go live in the next months and is anticipated to speed up blockchain gaming, among other things.
In a related question, Nailwal was also asked if “crypto has become too speculative?”
“Boon cuz (because) it attracts top talent to the industry, but bane because numerous users and applications are obviously speculative in nature,” he explained.
However, one could argue that any potential large sector draws a lot of speculation in the early stages. It was the same in the gold rush area, and it was also true in the dot-com boom, he added.
Other members of r/India also questioned the Polygon co-founder on his thoughts on decentralization.
“Crypto is still in its infancy. “I don’t believe any blockchain ecosystem, with the exception of Bitcoin and Ethereum, is fully decentralized yet,” he said, adding that it’s not always necessary for networks to be fully decentralized from the start.
Another user also questioned Nailwal about Polygon’s low Nakamoto Coefficient rating, which is used to determine how decentralized a blockchain network is.
This statistic is described in terms of Proof-of-Stake (PoS) chains as the number of node operators who collectively “control more than one-third (33.33%) of all stake on the network.”
According to NakaFlow, Polygon has a rating of four, implying that four node operators control roughly one-third of the Polygon (PoS) chain.
In response to the inquiry, Nailwal stated, “Polygon is a multi-blockchain ecosystem with two public blockchains currently live, namely Polygon POS and Polygon zkEVM.” Although the Polygon POS chain has a smaller Nakamoto coefficient, it is still larger than many rather large blockchains.”
“Eventually, we anticipate that all public (non-app-specific) chains will have significant decentralization factors, and we are working on some really massive releases in the coming days.” “The ultimate goal is to have 1000s of validators in the Polygon ecosystem,” he continued.
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