Since the partnership began, this alliance has shown fantastic results, with 200,000 daily transactions and more than 211 million transactions since June 2020. This is not only a triumph for Algorand, but also a demonstration of how blockchain technology can further digital ecosystems extend to 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 that has more than 800,000 users and hosts around 20,000 games every day, has emphasized the importance of reliable and proven ratings and titles. Algorand’s blockchain innovation ensures that the ratings are stored and updated in real time on the official web page of the FIDE Online Arena, the center of chess ratings and titles.
Fraud and discrepancies in evaluating chess players 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 trust that their results are real. This increases confidence in the rating system, ensuring that no player is left behind and their efforts and results are properly rewarded.
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Credit : cryptonews.net
