Metaverse, Blockchain and Token Economy

Posted March 11, 2022 by super1

In the blockchain industry, to develop Metaverse's ecological data interaction, cross-chain, transmission speed, engine, AI, CPU and GPU requirements are the underlying core technologies.
The Metaverse is a virtual world that is linked and created by means of technology, mapped and interacted with the real world, and a digital living space with a new social system. 

The Metaverse is essentially the process of virtualizing and digitizing the real world, which requires a lot of transformations in content production, economic systems, user experience, and physical world content. However, the development of the Metaverse is gradual, supported by shared infrastructure, standards and protocols, and is finally formed by the continuous integration and evolution of numerous tools and platforms. It provides an immersive experience based on extended reality technology, generates a mirror image of the real world based on digital twin technology, builds an economic system based on blockchain technology, and closely integrates the virtual world and the real world in the economic system, social system, and identity system, and allows Content production and world editing per user.

The blockchain is a shared database, and the data or information stored in it has the characteristics of "unforgeable", "full traces", "traceable", "open and transparent" and "collective maintenance". Based on these characteristics, blockchain technology has laid a solid "trust" foundation, created a reliable "cooperation" mechanism, and has broad application prospects.

In the blockchain industry, to develop Metaverse's ecological data interaction, cross-chain, transmission speed, engine, AI, CPU and GPU requirements are the underlying core technologies.

In today's metaverse world, only those who obtain the public chain can obtain the world. The advantages of the REITs CHAIN ​​public chain in the underlying technology are undoubtedly revealed. The core of REITs CHAIN ​​is to solve the problem of data interaction. At the same time, as the underlying public chain of the Metaverse ecological development, a corresponding deployment plan has also been made in terms of interoperability, which can be simple and efficient. It realizes the value interconnection of each chain, so as to jointly build an ecosystem and a value-added system, which also opens up a greater imagination space for the future expansion of the Metaverse. It also has its unique technical advantages in terms of consensus mechanism and energy consumption. REITs CHAIN, as a new generation 3.0 infrastructure public chain, its throughput is far enough to meet commercial applications. The TPS speed exceeds 3000, which can support a large number of users, and has good scalability and efficient smart contracts, making applications The program can have more and friendly deployment methods; and has a reliable network structure, user assets, intrinsic value, and a reward distribution mechanism brought about by a higher degree of consensus, providing developers with an efficient and low-cost on-chain environment, Developers are free to build decentralized applications, including DeFi products, DAPP, GameFi, NFT digital assets and the development of the Metaverse economic model.

One of the biggest problems currently plaguing the development of the Metaverse is the "ecological island" problem. Many projects developed within the Metaverse are often limited to a certain blockchain, making it difficult to capture resources and users on other blockchains.

The REITs CHAIN ​​public chain is like the "natural parent" of the metaverse. By connecting functions and services such as scenes, data, transactions, and virtual assets, these functions that used to seem isolated in the past can play a greater role in it. The entry of the REITs CHAIN ​​public chain has effectively lowered the access and experience threshold of the Metaverse, and in turn injected more new vitality into this emerging field. It will also bring a better boost to the development of the Metaverse.

The token economy is the incentive system of the blockchain and the soul of the blockchain technology. The “blockchain” without the “token” incentive is actually a distributed storage database, and it is difficult to form large-scale collaboration; there is no “blockchain”. The "token" supported by "chain technology" cannot realize the rapid flow and exchange of rights and interests, and it also lacks consensus and trust.

So what is the relationship between the metaverse, blockchain and token economy?

Metaverse needs digital twins, VR\AR, artificial intelligence, Internet of Things, 5G and other technologies as the foundation to build an economic system with blockchain technology token economy. Metaverse is a systematic composite digital world formed based on a variety of digital technologies. In this world, data confirmation, pricing, transaction and empowerment are realized through the blockchain token economy. The metaverse world can also be linked with the real world in various ways, and its economic form is essentially a highly developed token economy. Under the credit currency system, the metaverse, as a highly developed token economy, has become a field where credit currency intensively flows; blockchain, as a digital technology that completes the metaverse puzzle, turns the metaverse and the metaverse token into an objective existence , an entity that cannot be tampered with, and the metaverse token can even become a valued existence independent of the metaverse. The metaverse should be a decentralized model, and the blockchain token economy is an indispensable part of the metaverse, because it marks your property as "you" through group consensus.

The metaverse must be decentralized, the assets in the metaverse must be created by users, and there must be a token economic system in the metaverse. After 2021, the Metaverse is very hot, and the big Internet companies are rushing to the beach. They try to occupy the commanding heights with their technological and financial advantages, trying to recreate the giants one by one in the field of new technologies, and arbitrarily harvest users' data and privacy without giving them to users. A penny in return. And the metaverse based on monopoly must not be the real metaverse!
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Issued By Metaverse, Blockchain and Token Economy
Country American Samoa
Categories Open Source , Web Development , Blockchain
Last Updated March 11, 2022