Algorand Recently Signed A Partnership With World Chess To Revolutionize The Chess Industry By Implementing Blockchain-based Solutions
Since the beginning of the partnership, this alliance has shown fantastic results, with 200,000 daily transactions and over 211 million transactions since June 2020. This is not only a triumph for Algorand, but also a demonstration of how blockchain technology can further expand digital ecosystems for people around the world through seamless and secure financial interactions.
One of the benefits of this partnership is the improvement of chess ratings. World Chess, a site built for the game with over 800,000 users and hosting around 20,000 games daily, has emphasized the importance of reliable and provable ratings and titles. Algorand’s blockchain innovation ensures that the ratings are stored and updated in real-time on the official webpage of FIDE Online Arena, the center of chess ratings and titles.
Chess player rating fraud and discrepancies have been a problem for years, and blockchain technology has been presented as a solution. By using a simplified system of verification, tracking, and data protection, Algorand players have an environment where they can be confident that their results are genuine. This increases trust in the rating system so that no player is left behind and their efforts and results are rewarded correctly.
Image: freepik
Designed by Freepik
