Lordmancer II Interview – MMORPG with Cryptocurrency
I recently had a sit-down with Ilya Mikov (co-founder of Active Games) about their very ambitious in-development MMORPG, Lordmancer II. In it, you have two currencies. A “soft” currency in gold, that anyone can get. Then you have cryptocurrency, a digital currency that can be used to purchase goods and services as well as convert into cold, hard cash. It’s a very ambitious idea, and I think there are a lot of merits to it. So we talked about mostly the Cryptocurrency they created for their game, which you can read about below.
Ilya: Our cryptocurrency, LordCoins, is based on Ethereum. It’s a kind of distributed computer capable of doing any calculation, running any program. In order to incentivise people to lend their computing power, Ethereum network rewards them with Ether, an internal currency of Ethereum network. The source of such payments is people who would like to run their programs on Ethereum. What kind of programs are those? For example, so-called smart contracts.
Smart contracts, which are essentially short programs, are the basis of “tokens”, a kind of secondary cryptocurrency used in a wide range of projects. To issue tokens, i.e. to create your own cryptocurrency, you need to write a set of smart contracts which define its properties. For example, how many tokens are there in total, is it possible to issue more, how to pass them from one wallet to another, how to store them and so on. The better the smarter contract code for a token, the more secure it is and the cheaper it is to operate. Remember, you will have to pay with Ether for every transaction with your tokens, your cryptocurrency.
So, basically, to create a cryptocurrency you need to hire a programmer who will write a set of Ethereum-based smart contracts for you. Also, you will need some Ether to run those contracts. And, of course, you’ll need buyers for your brand new cryptocurrency! It has to be listed on at least one of the cryptocurrency exchanges in order to let people buy and sell it.
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