Avalanche Strengthens Beam Network’s Gaming

ChainPlay

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3 days ago

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Avalanche’s Role in Advancing On-Chain Gaming

Avalanche is shaping the future of on-chain gaming with its support of the Beam Network. This partnership is crucial for the next phase of blockchain gaming. The Avalanche Foundation has committed to minting $500,000 worth of Beam Node tokens and running validator nodes. This partnership, which provides strong infrastructure that guarantees quick, safe, and seamless transactions, is essential to the gaming network's development and success.

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This collaboration is very important because the Beam Network is one of the biggest initiatives on Avalanche's blockchain. Both teams have collaborated extensively over time on a number of projects, including marketing, event planning, and infrastructure. Together, they have built a gaming subnet that operates seamlessly using Avalanche technology. With Avalanche’s continuous improvements to its layer 1 network, game developers now have a better environment to build in the web3 gaming space. The Avalanche Foundation has also played a role in helping game studios find their ideal platform, recommending the Beam Network instead of launching games on their own. Furthermore, both ecosystems have collaborated on gaming events, such as showcasing games at GDC in San Francisco and during Gamescom in Cologne.

How Avalanche Supports Beam Network’s Future

Avalanche is backing the Beam Network in two key ways. First, the foundation has minted $500,000 worth of Beam Node tokens. Second, it has committed to running validator nodes after the Horizon upgrade is complete. These efforts are critical for decentralizing the network and ensuring its stability, security, and speed. The Horizon upgrade, made possible by the Etna upgrade on the Avalanche mainnet, will allow the Beam Network to become its own independent layer 1 blockchain, offering more flexibility and control. With this change, Beam Network can decide its consensus mechanism, which will transition to a proof-of-stake system.

The Horizon upgrade is a big step forward for the Beam Network. Once the upgrade is complete, Beam Nodes will allow anyone to validate and secure the network. Those who participate will be rewarded with transaction gas fees, validator incentive grants, and protocol fees. To set up a Beam Node, users will need to stake a minimum of 1 ERC-721 Node Token and 20,000 $BEAM. Each node has a staking limit of 1000 Node Tokens and 50 million $BEAM. By allowing more validators to join, this upgrade creates a more secure and decentralized network, opening up opportunities for more people to get involved in the Beam ecosystem.

Source: X

The announcement about the Beam Node tokens and validator nodes comes at an exciting time for both Avalanche and Beam. The launch of Beam Ventures, a gaming-focused investor fund in Abu Dhabi, marks a significant milestone. With a $150 million fund, Beam Ventures aims to make the gaming capital a global leader in the industry. Additionally, the Avalanche ecosystem recently saw the arrival of a gamified collectibles platform based on the anime series Solo Leveling. This new platform is designed to introduce fans to the world of web3, providing an easy way for anyone to engage with blockchain technology, regardless of their experience.

In conclusion, the Avalanche Foundation’s ongoing support for the Beam Network is vital in advancing the world of blockchain gaming. The commitment to minting Beam Node tokens and running validator nodes ensures that the network will continue to grow and improve, benefiting both developers and users alike.